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Monday, 23 September 2019, 10:50AM

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No 'mortgage' for four categories of business enterprises

National

Staff Correspondent, Chattogram, Barta24.com | 9 September 2019, 05:39PM

No 'mortgage' for four categories of business enterprises
Photo: Barta24.com

Micro-small, small, medium industries and cottage industries will not be required ‘mortgage’ for taking loan. The loan sanctioning process will be simplified along with minimum interest. Necessary instructions for these will be given soon.

On Monday (Sept.9) the cabinet secretary Shafiul Alam informed these to the journalists. In a meeting of the cabinet chaired by Prime Minister Sheikh Hasina held in her office the draft of SME policy 2019 was given approval.   

Shafiul Alam said, however the government will introduce SME guarantee fund to get mortgage free loan under the new policy. This would be made more simplified. The instructions will be given for sanctioning loan on easy terms and at minimum interests.

He said that to ensure facilities and help growing business through applications from SMEs will be given assistance of e-commerce, on line support, outsourcing and ITB.

Under the new policy training will be provided to the female entrepreneurs to increase their capacity.   

The cabinet secretary said that earlier there was no policy regarding it. This was done in the light of national industrial policy. He said that there are 78 lakh small entrepreneurs in the country and there contribution to GDP is about 25 percent. 

He said that, ‘the new policy has been done giving emphasis on six things. Those who will come under the purview of SME, their loan will be ensured, opportunities to be created for technology and innovation, to enter the market, learning and training facilities, priority of service and rights on information.’

In the new SME policy two more businesses have been added. For example- micro industries and cottage industries.  Some new things have been added to the new policy. In the implementation strategy clause 4 and 2 financing mode has been increased for SME sector. Necessary instructions were also given.