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Thursday, September 3, 2015, Bhadra 19, 1422 BS, Zilqad 18, 1436 Hijr

Bring bank rate to single digit for boosting business: PM
Staff Correspondent
Published :Thursday, 3 September, 2015,  Time : 10:36 PM  View Count : 2
Prime Minister Sheikh Hasina on Thursday said that her government will try to bring bank interest rate into a single digit to increase pace of industrialization and businesses in the country. "Her government's steps for reducing the bank rate into a certain limit to flourish industrialization and businesses. The bank rate would be a single digit." Sheikh Hasina, also the Awami League President, made the assurance when a delegation of the newly-elected office bearers of the Federation of the Bangladesh Chambers of Commerce and Industry (FBCCI) called on her at her Tejgaon office. PM's Press Secretary Ihsanul Karim briefed journalists. Awami League government has always been a business-friendly government, she urged the business community to tap the opportunities provided by the government for promotion of their business and industries. "We don't do businesses of our own, rather we promote businesses for ensuring further economic development," she urging the business leaders to tap the growing domestic market as well as international one. The Prime Minister urged the FBCCI leaders to encourage businessmen to pay taxes saying that their taxes in a sense help the government to give incentives to the businessmen. She urged the big businesses to help small businesses. The Prime Minister noted that the country's businessmen have been able to do               businesses since the country got independence after a hard struggle under the dynamic leadership of Bangabandhu Sheikh Mujibur Rahman. So they have to make efforts to fulfil the aspiration of Bangabandhu to build a hunger and poverty free Bangladesh, she said. Sheikh Hasina also hinted not to cut fuel oil price rather she wanted the Bangladesh Petroleum Corporation to recover its losses. "You are used to the fuel oil price, so, it should not be a problem for anyone," she told the business lobby of FBCCI leaders. Sheikh Hasina pointed out that the government had subsidised oil prices when international prices were high. "The result is Tk 380 billion in liabilities. After the prices went down, we began to earn some money. We are being slowly able to clear our liabilities. But not much has been cleared until now," she said. She said Bangladesh showed its excellence in the RMG sector. But businesses should go for tapping the vast marine resources of the Bay of Bengal, especially for deep sea fishing as Bangladesh now has sovereignty on a vast maritime territory. She said many Muslim countries procure 'halal' meat from other countries. But Bangladeshi businesses have failed to exploit the potential market. Sheikh Hasina said the government has taken steps for setting up of an Economic Zone in every district to encourage local investment. About the government's various steps in the power and energy sector, Sheikh Hasina said her government has taken steps to dig new gas wells with setting up transmission lines to reach the gas to industries. Referring to the withdrawal of import duty on LPG, she said her government did not receive so much response from the businessmen in this regard. She suggested the local entrepreneurs to go for manufacturing cylinders for marketing of the LPG gas. The Prime Minister also suggested industrialists and businessmen to go for planned and environment-friendly industrialization. Pointing towards the ongoing works of Dhaka-Chittagong, Dhaka-Mymensingh, Dhaka-Sylhet four-lane project alongside rail line from Chittagong to Cox's Bazar, she said that such connectivity would give pace to industrialization. Putting emphasis on optimum utilization of leather, she said that her government is looking for suitable places for setting up of slaughterhouses in the capital. FBCCI president Abdul Matlub Ahmed led the delegation while other directors and business leaders were present. PM's Political Affairs Adviser HT Imam, Economic Affairs Adviser Dr Moshiur Rahman, Principal Secretary Abul Kalam Azad, were present, among others.

Editor : Iqbal Sobhan Chowdhury
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