FBCCI urges banks to quickly disburse stimulus packages
President of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) Sheikh Fazle Fahim on Monday urged banks to come forward to quickly distribute the stimulus packages.
He also called for an easy access mechanism to bank credit so that all affected businesses get benefit of the stimulus package.
The apex trade body president made the call during a virtual meeting with representatives of the light engineering sector.
The FBCCI would be involved in the process of providing loan facilities to coronavirus-ravaged cottage micro, small and medium enterprises, he said.
Fahim said under such schemes the state-owned banks and private banks could forge a strong partnership so that they can work together and provide support to various sectors, especially the SME sector.
We don't want to put pressures on banks and other stakeholders. But considering the humanitarian aspect, everyone has to be sincere, he adds.
Business leaders sought quick disbursement of fund from the stimulus package.
On April 5, Prime Minister Sheikh Hasina declared a financial assistance package of Tk 20,000 crore as working capital loan for cottage, micro, and small and medium enterprises (CMSMEs).
Former FBCCI President Abdul Matlub Ahmad said money should be released within short time for entrepreneurs. Everyone needed to work together to get the stimulus package quickly, he added.
Abdur Razzak, President of the Bangladesh Engineering Business Owners Association said many branches were still closed. If we did not get the money in time we would face huge losses.
President of SME Owners Association, Bangladesh Md Ali Zaman and President of National Association of Small and Cottage Industries of Bangladesh (NASCIB) Mirza Nurul Ghani Shovon attended the discussion.