Tk20,000cr announced to offset losses of SME | The Business Standard
Skip to main content
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
    • GOVT. Ad
  • More
    • Subscribe
    • Videos
    • TBS Graduates
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Long Read
    • Interviews
    • Offbeat
    • Tech
    • Magazine
  • বাংলা
The Business Standard

Thursday
September 21, 2023

Sign In
Subscribe
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
    • GOVT. Ad
  • More
    • Subscribe
    • Videos
    • TBS Graduates
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Long Read
    • Interviews
    • Offbeat
    • Tech
    • Magazine
  • বাংলা
THURSDAY, SEPTEMBER 21, 2023
Tk20,000cr announced to offset losses of SME

Economy

TBS Report
24 September, 2020, 10:20 pm
Last modified: 24 September, 2020, 10:25 pm

Related News

  • Sri Lanka to work with SME Foundation to develop SME sector in Bangladesh
  • Zatiq wants to simplify accounting for SMEs, but it's easier said than done
  • UK announces £3 million additional humanitarian support to Rohingyas
  • Bangladesh’s application to join RCEP awaits PM’s nod
  • FM Plastic withdraws SME board listing application

Tk20,000cr announced to offset losses of SME

Compared to 2019, the revenue of the SME sector has decreased by 66% in 2020

TBS Report
24 September, 2020, 10:20 pm
Last modified: 24 September, 2020, 10:25 pm
SME clusters are producing a long list of products to meet local demand that act as a substitute for imports. Photo: Mumit M/TBS
SME clusters are producing a long list of products to meet local demand that act as a substitute for imports. Photo: Mumit M/TBS

Prime Minister Sheikh Hasina has announced an incentive package of Tk20,000 crore along with policy assistance to offset the losses of the SME sector due to Covid-19.

Industries minister Nurul Majid Mahmud Humayun said this at an international webinar "The Pandemic and SMEs: Shock-absorbing policy measure and future debates impacts in Bangladesh and Lessons from responses around the World" jointly organised by SME Foundation and German development agency FES Bangladesh on Thursday.

With the industries minister as the chief guest, the webinar aimed at overcoming the losses of Covid-19 in the SME sector.

Industries minister said the country's SME sector has been severely affected due to Covid-19, especially the rural entrepreneurs are in crisis as the supply of goods were disrupted. Compared to 2019, the revenue of the SME sector has decreased by 66% in 2020.

Elaborating on the information published in the media, the minister further said the government has taken initiative to help the SME sector to solve these problems.

SME Foundation chairperson Prof Md Masudur Rahman, who presided over the programme, said due to Covid-19, the two biggest sales seasons of the year – Bengali New Year and Eid-ul-Fitr – businesses were shut down and the supply of goods was disrupted. There are many unsold products in stock.

The SME Foundation is training entrepreneurs on e-commerce. In the context of Covid-19, e-commerce training has already been imparted to more than 500 entrepreneurs. The SME Foundation will research the impact of Covid-19 on SME entrepreneurs, he added.

Welcoming remarks were made by Md Shafiqul Islam, managing director, SME Foundation.

Dr Atiur Rahman, former governor of the Bangladesh Bank and a Professor of Development Studies at Dhaka University, and Michael Rozler, vice-chair of Craft Industry International, Germany was the chief negotiator were chief negotiators.

Top News

SME / losses / stimulus / Fund / PM

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • US Embassy Spokesperson Bryan Schiller speaks with reporters on Thursday (21 September). Photo: UNB
    US delegation to arrive in Dhaka on 7 October for pre-election assessment
  • Photo: UNB
    EU decision not to send observers proves country has no atmosphere for election: Mirza Fakhrul
  • European Union flags fly outside the EU Commission headquarters in Brussels, Belgium September 19, 2019/ Reuters
    EU isn't sending full team of observers for next JS polls

MOST VIEWED

  • Photo: Collected
    2 more banks allowed to trade in rupees, 6 more in pipeline
  • Photo: Jahir Rayhan
    Bangladesh's air connectivity scope increasing through development and prosperity: State minister
  • Workers tailoring clothes at an RMG factory in Bangladesh. File Photo: Mumit M/TBS
    US to consider including Bangladesh apparel in new GSP
  • Logo of Marico Bangladesh
    Marico Bangladesh goes into operation at Bangabandhu Shilpa Nagar
  • A 373.3cc Bajaj Dominar 400. Photo: Collected
    Locally manufactured 375cc motorcycles allowed on local roads
  • Containers piled up at a port. File Photo: TBS
    Woven suiting fabric imported in guise of poly knitted fabric to evade Tk1.1 crore tax

Related News

  • Sri Lanka to work with SME Foundation to develop SME sector in Bangladesh
  • Zatiq wants to simplify accounting for SMEs, but it's easier said than done
  • UK announces £3 million additional humanitarian support to Rohingyas
  • Bangladesh’s application to join RCEP awaits PM’s nod
  • FM Plastic withdraws SME board listing application

Features

Mountain gorillas are vulnerable species, only found in the willderness. Photo: Muntasir Akash

Against all odds: My encounters with mountain gorillas in Rwanda

3h | Earth
Photo: Saqlain Rizve

The quiet afterglow of Dhaka's overhead water tanks

8h | Panorama
Photo: Shovy Zibran

Maachh-bhaat for the soul: How Mariam nourishes hearts on the streets of Dhaka

1d | Panorama
Team Bored Tunnelers is a cross-institutional team consisting of six board members: (from let to right) Talha Zubair, Shaekh Mohammad Shithil, Fahin Uddin, Imran Khan, Shahriar Iqbal Mahim and Sibly Noman. Photo: Courtesy

Meet the Bangladesh team in Elon Musk's Not-a-Boring Competition finals

1d | Pursuit

More Videos from TBS

Bank deposits increased by Tk 74,000 crore in April-June

Bank deposits increased by Tk 74,000 crore in April-June

3h | TBS Economy
Truefitt & Hill Bangladesh: From Buckingham Palace to Gulshan

Truefitt & Hill Bangladesh: From Buckingham Palace to Gulshan

4h | TBS Stories
Iran's disabled painter Fatemeh finally meets Cristiano Ronaldo

Iran's disabled painter Fatemeh finally meets Cristiano Ronaldo

5h | TBS SPORTS
Why are Japanese women unwilling to have children?

Why are Japanese women unwilling to have children?

6h | TBS World
EMAIL US
[email protected]
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Privacy Policy
  • Comment Policy
Copyright © 2023
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - [email protected]

For advertisement- [email protected]