Finance Advisor Salehuddin Ahmed said the major reforms in the bank sector would end by December. He said there would be some reforms in the bank sector by December. The depositors will be refunded. The budget has been allotted for this.
He said this while addressing the chief guest at the 'SME Foundation-ERF Media Award' at the Economic Reporters Forum (ERF) auditorium in Purana Paltan on Wednesday.
The program was chaired by the SME Foundation Chairman. Mushfiqur Rahman. Foundation Managing Director Anwar Hossain Chowdhury, General Manager. Jahangir Hossain and ERF president Daulat Akhter Mala spoke.
ERF general secretary Abul Kashem conducted the event.
The Finance Advisor said the small and medium industrial sector is still the basis of Bangladesh's economic growth. The most jobs are also through this sector. The potential for this sector is much higher in the days ahead. For this, it is important to eliminate financing problems in this sector, ensure technical involvement and to create a connection with the international market.
He said there are many statements about Bangladesh's economic growth. However, the main basis is SME. SMEs are also ahead of employment. However, the SME sector contributes to GDP 20 percent, which is not enough. In many other countries, up to 5 percent. It is said that the industry of developed countries is very large, but not in fact. Japan's SME is famous and much larger. Rolex clock is made through SME.
The Finance Advisor said that the use of advanced technology should be increased to advance SME. The hammer-battal day is over. Although some SMS companies are already using advanced technology. However, it has to be used and increased.
Saleh Uddin Ahmed said the SME sector is very likely. The main contribution of this sector – there is more opportunity for women to participate. Women's freedom, increasing participation means not just talking, but creating opportunities for women. It is going through the SME sector.
Acknowledging the financing problem of the SME sector, the Finance Advisor said there are major problems with the financing of this sector. Bankers don't think about the SME sector. They want to give big loans. He gave a loan of Tk 1 crore. It is not a matter of what happened to them. Bankers and policy makers have to change the decision on this.
He said Bangladesh Bank has a refinance scheme on SMEs. Bangladesh Bank can increase this scheme if desired. The Ministry of Finance will help in that regard. Subsidies of Tk 8-12 billion are being subsidized in fuel. In that case, what is the difficulty of subsidizing SME?
Finance adviser suggested building a digital database in the SME sector. He said that the finance ministry would be financed if needed.
He suggested taking initiatives like PKSF to increase the SME Foundation financing.
The Finance Advisor said the project was well taken, the officer decided. The World Bank, IFAD, all financing PKSF. PKSF is now a world -class organization, all donor companies are coming forward. For this, transparency in financial management should be kept. No compromise can be made.
He said the SME sector should be connected to the domestic and international market. Because we need diversification in exports. Not just depending on.
Regarding the reform of the interim government, he said that some reforms will be made in the financial sector by December. I do not know what political reforms will be. There will be some reforms in the bank sector. The depositors will be refunded. For this, the budget has also been allotted. We'll start. Hopefully, the next government will come and protect its continuity.
Mushfiqur Rahman, chairperson of the SME Foundation, said the Foundation lack a major problem. Foundation cannot be financed according to the needs of the entrepreneurs. Although there are 1 crore 5 lakh SME entrepreneurs in the country, the SME Foundation has financed only 5,000 entrepreneurs. But repayment of the SME sector entrepreneurs is very good. Recovery rate in this sector is more than 5 percent.
He specifically requested the Finance Advisor to increase the SMS Foundation fund.
Anwar Hossain Chowdhury, Managing Director of the SMS Foundation, said that when the semi -foundation started in the 27th, Tk 20 crore was funded. The government then funded Tk 5 crore. So far, 3,000 entrepreneurs have been loaned by operating a re -financing scheme of this Tk 1 crore.
He said that if the SME sector could not be taken forward, the symptoms of economic progress were determined would not be easy. The SME Foundation does not have its own office. Need its own office. Need Incubation Center, Training Center and Exhibition Center.
He requested the finance adviser to cooperate with the SME Foundation if there was a place for this.
