DHAKA, Sept 30, 2020 (BSS) – Industries Minister Nurul Majid Mahmud Humayun today said that an integrated policy will be adopted to address the problems of cottage, micro, small and medium enterprises (CMSMEs) affected by COVID-19.
“According to the policy, the activities of the incentive package announced by the government will be implemented,” he said while speaking as the chief guest at a virtual discussion on “Post-Pandemic Status of CMSMEs and Effectiveness of Stimulus Packages”, jointly organised by Citizen’s Platform for SDGs, Bangladesh and Business, Initiative, Leading, Development (BUILD), said a press release.
Distinguished Fellow of the Centre for Policy Dialogue (CPD) Dr Debapriya Bhattacharya moderated the discussion while BUILD Chairperson and former president of the Dhaka Chamber of Commerce and Industry (DCCI) Abul Kashem Khan delivered the keynote speech.
Among others, CPD Distinguish Fellow Professor Mustafizur Rahman, former president of the Metropolitan Chamber of Commerce and Industry (MCCI) Syed Nasim Manjur and President of the Chittagong Stock Exchange (CSE) Syed Asif Ibrahim delivered speeches on the occasion.
During the discussion, entrepreneurs have demanded the creation of an integrated database as a matter of urgency for the effective implementation of the incentive package announced by the government for the industrial sector to address the loss due to COVID-19.
They said that it is possible to enrich the database by adding the information of the released loan through an electronic process.
They suggested setting a universally accepted definition for CMSMEs and issuing quick notifications by abolishing the collateral obligation to waive incentives here.
In his speech, Humayun sought the active participation of the private sector and think-tanks in formulating the policy to address problems of CMSMEs.
He said the government is working earnestly to move the national economy forward by keeping the wheels of small and medium scale industries in operation. Therefore, Prime Minister Sheikh Hasina has announced a huge incentive package at the very beginning of coronavirus infection in the country, he added.
He called upon banks and financial institutions to sanction incentive funds considering the capabilities of the entrepreneurs in the CMSME sector, lifting the collateral obligation in the existing Corona situation.