Expedite credit disbursement to SMEs: Minister to banks

Commerce Minister Tipu Munshi has said that bankers should increase disbursement of credit to Small and Medium Enterprises (SME) under stimulus package for quick economic recovery.

The minister expressed his disappointment on slow credit disbursement to SMEs while addressing a dialogue on “Stimulus packages for sustainable and inclusive recovery Covid-19 fallout in Bangladesh” on Thursday.

He said the government will consider demands of readymade garments exporters with the looming second wave of the pandemic.

Finance division arranged the seminar to review the stimuli over 1 lakh crore taka announced in phases since April.

The seminar was attended among others by Principal Secretary to Prime Minister Ahmed Kaikuas, World Bank Country Director Mercy Miyang Tembon, Japanese Ambassador in Bangladesh Ito Naoki, BGMEA President Dr Rubana Haque, Sanem Executive Director Selim Raihan and BIDS Senior Research Fellow Nazneen Ahmed.

Commerce Minister said, “At this time, the government has been able to keep the production, supply and price of essential commodities of the country normal.”

“When necessary, commodities have been sold in the open market at affordable prices through TCB (Trading Corporation of Bangladesh). As a result, even in difficult circumstances, there was no crisis in any product in the country or the price did not increase,” he pointed out.

"Covid-19 was first identified in Bangladesh on March 8. There were 68 days of public holiday in the country. Many steps have been taken to overcome its detrimental effect on the economy. That is why it has been possible to keep the economic activities of the country active,” he said.

ask/zn