It has become essential to set up more SMEs along with agro-based industries for the future development of the country, the minister said.

He was addressing the inaugural function of United Salt Industries Limited and Tanveer Oils Limited, two new manufacturing ventures of Meghna Group of Industries, at Meghnaghat, Sonargaon in Narayanganj yesterday.

"Setting up of more SMEs will help the country reduce unemployment as well as poverty," the commerce minister said.

At the function, Chairman and Managing Director of Meghna Group Mostafa Kamal said the salt unit was set up at a cost of Tk 25 crore and the oil unit at Tk 40 crore which have employed around 500 workers.

The annual production capacity of the salt unit is 1.5 lakh tonne and the oil unit is 2.2 lakh tonne.

The Meghna Group through its 15 industrial units are manufacturing various consumer items including powdered milk, fine flour, course flour, coconut oil, mustard oil, tea, spices, soybean oil, fish and poultry feed, mineral water, and cement.

Among others, Advisor to Commerce Ministry Barat Ullah Bulu, State Minister for Liberation War Affairs Rezaul Karim, Deputy Minister of Land Advocate M Ruhul Quddus Talukdar, Syed Abdullah Mohd Taher MP, GM Siraj MP, Shahidul Islam MP also spoke at the function.