The Financial Express

Govt forms seven committees to oversee development of SMEs

MoI requests BB to simplify lending process for SMEs

FE REPORT | Published: February 24, 2020 16:10:00 | Updated: February 28, 2020 10:50:59

Seven committees to oversee development of SMEs

The Ministry of Industries (MoI) has formed seven separate committees to oversee the development activities of the country's small and medium enterprises (SMEs) sector.

The committees are: SME business development committee, SME finance committee, SME efficiency development committee, ICT and technology development committee, SME products marketing committee, SME women entrepreneurs' development committee and, SME policy advocacy and SME information/ database committee.

The committees were approved at a meeting of the National SME Development Council at the MOI on Sunday.

The meeting recommended Bangladesh Bank (BB) to simplify the lending process for the SMEs.

The meeting also discussed elaborately on 11 short-term activities to implement the roadmaps/ work plans of the SME Policy- 2019.

Presiding over the meeting, Industries Minister Nurul Majid Mahmud Humayun, said 7.8 million SME entrepreneurs have been working on the country's development and employing other people.

He requested the banks to provide hassle-free loans for the entrepreneurs so that the SMEs sector could contribute a lot to the development of the country's economy.

He also called upon the banks not to consider the collateral issue but to consider the performance of the entrepreneurs while providing loans.

State Minister for Industries Kamal Ahmed Majumder stressed the need for ensuring SME loans in all districts and upazilas rather than merely concentrating only in Dhaka and Chattogram areas.

He said the SME entrepreneurs have a good track-record of repaying the bank loans. So, the banks will be benefited if they provide loans to the entrepreneurs of the SME sector, he added.

Apart from simplifying the lending process, the new SME Policy-2019 has also the provisions for adopting modern information and communication technology, proper marketing, training and education, and favourable services to the SME business etc.

A high official of the MoI, who attended the meeting, told the FE that the ministry recommended the Bangladesh Bank to ask all the banks for providing SME loans to the deserving entrepreneurs without harassment and unwanted delay.

Secretary of information and communication division NM Ziaul Alam, technical and madrasha education secretary Munshi Shahbuddin Ahmed, member of Bangladesh Trade and Tariff Commission Shah Md Abu Raihan Alberuni, deputy governor of BB SM Moniruzzaman, and vice-president of FBCCI Rezaul Karim Reznu were present, among others.


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