Frame separate policy for SMEs: FBCCI

FE Report

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) has called on the government to formulate a separate policy for the small and medium-sized enterprises (SMEs).

It strongly suggested bringing down the interest rate on loans for the SMEs to a single digit for their development.

The apex trade body also called for proper monitoring to ensure that the SMEs receive funds allocated for them.

The trade body leaders made the call at a meeting of the FBCCI standing committee relating to the ministry of industries (SMEs) at its conference room in the city on Wednesday.

They said SME entrepreneurs are now manufacturing technology-based modern products alongside traditional products.

They suggested conducting a survey to identify the demand and production base of the SME items being produced in the country.

They urged big entrepreneurs to refrain from producing and marketing SME products, as such activity may affect SME businesses badly.

Chairman of the standing committee Shamim Ahmed presided over the meeting and its director in-charge Md Abu Naser presented detailed future plan of the committee.

Representatives of the Bangladesh Standards and Testing Institution and different finance institutions attended the meeting.

FBCCI directors Khandaker Ruhul Amin, Abu Motaleb and Hafez Harun-Or-Roshid were also present.