High interest rate key barrier to growth
Exporters' Association of Bangladesh (EAB) president Abdus Salam Murshedy said Saturday the country's annual export will stand at US $40 billion in the next five years if the government provides necessary policy supports, reports UNB.
But he criticised the high bank interest which he termed as an impediment to the growth of export, demanding reduced interest rates to achieve the target.
Murshedy, also the former BGMEA president, said this while addressing an Iftar party at Sonargaon Hotel in the city, hosted by the EAB.
"We've achieved 43 per cent growth in export in the last fiscal. We need uninterrupted supply of gas and power to make the growth sustainable. We hope the export will stand at 40 billion US dollar within the next 5 years if the government ensures necessary policysupports," he said.
"High bank interest rate
has become a key barrier to the growth of export and the interest rate should be reduced to help grow the sector", he observed.
He also urged the authorities concerned to enhance the capacity of the country's main seaport - Chittagong Port.
Murshedy said though they could overcome the recession in 2009-2010 period another recession is looming. "I urge the Finance Minister AMA Muhith to form the task-force committee in this connection without delay."
Center for Policy Dialogue (CPD) executive director Prof Mustafizur Rahman, Bangladesh Tariff Commission Chairman Mujibur Rahman, M Israfil Alam, MP, Jafar Alam Siddiqui, MP, BGMEA president M Saiful Islam Mohiuddin and representatives of 47 export sectors were present.
http://www.thefinancialexpress-bd.com/more.php?news_id=147082&date=2011-08-21
Exporters' Association of Bangladesh (EAB) president Abdus Salam Murshedy said Saturday the country's annual export will stand at US $40 billion in the next five years if the government provides necessary policy supports, reports UNB.
But he criticised the high bank interest which he termed as an impediment to the growth of export, demanding reduced interest rates to achieve the target.
Murshedy, also the former BGMEA president, said this while addressing an Iftar party at Sonargaon Hotel in the city, hosted by the EAB.
"We've achieved 43 per cent growth in export in the last fiscal. We need uninterrupted supply of gas and power to make the growth sustainable. We hope the export will stand at 40 billion US dollar within the next 5 years if the government ensures necessary policysupports," he said.
"High bank interest rate
has become a key barrier to the growth of export and the interest rate should be reduced to help grow the sector", he observed.
He also urged the authorities concerned to enhance the capacity of the country's main seaport - Chittagong Port.
Murshedy said though they could overcome the recession in 2009-2010 period another recession is looming. "I urge the Finance Minister AMA Muhith to form the task-force committee in this connection without delay."
Center for Policy Dialogue (CPD) executive director Prof Mustafizur Rahman, Bangladesh Tariff Commission Chairman Mujibur Rahman, M Israfil Alam, MP, Jafar Alam Siddiqui, MP, BGMEA president M Saiful Islam Mohiuddin and representatives of 47 export sectors were present.
http://www.thefinancialexpress-bd.com/more.php?news_id=147082&date=2011-08-21
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