The President of the Federation of Bangladesh Chambers of Commerce and Industry or the FBCCI, which is the apex trade organisation of Bangladesh playing a pivotal role in consultative and advisory capacity, safeguarding the interest of the private sector in the country, recently called upon the Government to speedily implement the stimulus package meant for the CMSME sector for ensuring desired economic recovery amidst the coronavirus pandemic even as he demanded increasing the timeframe of term loan for the SME sector.
FBCCI President Md. Jashim Uddin, reportedly, raised the demands while speaking at a view-exchange meeting with the chief executives of the banks, titled ‘Ensuring overall economic development under the existing situation: problem and potentials’, organised by the FBCCI.
Jashim Uddin while underlining that although the implementation of the stimulus packages in the export and large-scale industries sectors was satisfactory, stated the implementation rate of stimulus package in the CMSME sector is 77 per cent even as he went on to add the allocation of COVID-19 stimulus packages for CMSME sector reached 38 per cent in India, 33 per cent in Thailand and 24 per cent in Malaysia, while in Bangladesh it reached only 22 per cent.
Under the given circumstances, the FBCCI President asked the Government to speedily disburse the fund from the stimulus packages to keep the businesses of cottage, micro and medium entrepreneurs operational.
