Industries Minister Nurul Majid Mahmud Humayun on Wednesday laid emphasis on adopting an integrated policy to address the problems of small industries such as cottage, micro, small and medium enterprises (CMSMEs) affected by COVID-19.
He said such policies are essential so that activities to be supported by incentive package announced by the government will be properly implemented. He made the observation while speaking as chief guest at a virtual discussion on "Post-Pandemic Status of CMSMEs and Effectiveness of Stimulus Packages."
It was 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.
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 spoke on the occasion.
They said entrepreneurs have demanded creation of an integrated database as a matter of urgency for the effective implementation of the incentive package for the industrial sector to address the loss due to COVID-19.
They also said that it is possible to enrich the database by adding the information of the released loan through an electronic process. They called for setting a universally accepted definition for CMSMEs and issuing quick notifications by abolishing the collateral obligation to waive incentives here.
The industry minister sought 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 economy forward and the role of small and medium scale industries is key to such efforts.
He called upon banks and financial institutions to sanction incentive funds considering the capacities of entrepreneurs in the CMSME sector, lifting the collateral obligation in the existing corona virus situation.
