Thursday 18th of July 2024

‘Easy Access to Finance is essential for the CMSME sector’

Morning Mirror Desk »

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The easy access to finance is essential for Cottage, Micro, Small and Medium (CMSME) industries. The FBCCI Vice President Md. Amin Helaly opined this during the first meeting of the Standing Committee on CMSMEs and Rural Industry Development organized by the FBCCI. The meeting was held in the boardroom of FBCCI on Monday morning.

FBCCI Vice President Md. Amin Helaly said, ‘By introducing CMSME friendly banking system we can make sure the easy access to finance for entrepreneurs. Government incentives can also be disbursed through this arrangement.’

Several large industries are now producing the same products that CMSME entrepreneurs make. Due to this, CMSMEs are losing their competitiveness. In such a situation, it is important to have policies on what kind of products large industries can produce and what cannot produce, said Md. Amin Helaly.

In the meeting, another vice president of the FBCCI, Md. Habib Ullah Dawn said, ‘Consumer’s tastes are changing day by day. In line with that, small and medium entrepreneurs should also diversify their products.” For this, he emphasizes on research and development for the betterment of the CMSME. Entrepreneurs should to maintain business documents to enjoy easy loan from banks, he added.

Director-in-charge of the committee Khan Ahmed Shuvo MP said, ‘One of the big challenges for the CMSME is market access.” He suggests, the FBCCI to work with the government in this regard.

Committee chairman Mirza Nurul Ghani Shovon said, more government incentives is needed for the CMSMEs to overcome the Post-Covid shock and face the challenges due to the Ukraine crisis. He thanked the FBCCI for signing MoU with the Bengal Commercial Bank Limited regarding giving loans to the small and medium entrepreneur on easy terms.

Other members of the committee demanded transparency and availability of financing for the CMSME.

FBCCI director Hafez Harun, Abu Hossain Bhuiyan Ranu, former director Khandaker Ruhul Amin, General Manager of SME Foundation Farzana Khan, committee co-chairman Ashrafur Rahman, KM Johir Faruk, Khaliluz Zaman, and other members were also present in the meeting.

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