Give long-term loans for industrial dev
Banks in the country should give long-term loans to entrepreneurs who wish to establish industrial units, said speakers at a webinar held yesterday.
They made this suggestion on the basis that no one can build up an industry on short-term loans.
The webinar, styled "Bangabandhu's Industria-lisation Philosophy: Today's Bangladesh", was organised by the Bangladesh Chamber of Industries (BCI) to mark the 46th death anniversary of Bangabandhu Sheikh Mujibur Rahman.
Participants said the lenders should give entrepreneurs five to seven years to repay the loans so that they can properly build an industrial unit.
Besides, they should give 25 years to repay the loan if it is used to build a house.
"Industrial credit companies should be revived. Then we can take up the challenges well to deal with the fourth industrial revolution," said Md Jashim Uddin, president of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI).
Binayak Sen, director general of the Bangladesh Institute of Development Studies (BIDS), said that very few countries have done well in agriculture and industry together.
"Bangladesh is one of them. This is a significant thing and has to be maintained," he added.
"Bangabandhu always thought about the marginalised people of the society. He worked for them," said MA Mannan, minister of the planning ministry.
Anwar-ul Alam Chowdhury, president of the BCI, presided over the event.
Rizwan Rahman, president of the Dhaka Chamber of Commerce and Industries; Zakia Sultana, secretary to the Ministry of Industries; and Selima Ahmad, president of the Bangladesh Women Chamber of Commerce and Industries, also spoke.
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