Senior Reporter: The Export Preparation Fund (ERF) has launched a new fund to boost exports in four sectors. Leather and leather goods, footwear, light engineering and plastic sector entrepreneurs will have the opportunity to receive grants from this fund. Which will no longer be refunded.
The Ministry of Commerce is implementing the project with the help of the World Bank. The size of the fund will be $ 1 million or Tk 1 million. The duration of the project is 3 and a half years. The fund was officially announced on Sunday at a hotel in the capital.
Among the guests were Commerce Secretary Zafar Uddin, President of the Federation of Bangladesh Chamber of Commerce and Industry (FBCCI), Sheikh Fazle Fahim, President of Leather Goods and Footwear Manufacturers Exporters Association of Bangladesh (LFMEAB) and Saiful Islakat, Salamul Islakat of Salamul Islam. (BPGMEA) President Jasim Uddin, President of Bangladesh Engineering Industry Owners Association Abdur Razzak.
It was informed at the event that three types of grants will be available from the ERF. Up to five thousand dollars will be donated to assess the state of the industry's compliance. The entrepreneur will have to pay at least 5 percent more money for the calculation.
Up to $ 1,000 will be donated for development of business and technical fields. The entrepreneur will have to pay 5 percent more money. And up to $ 2 million will be donated to invest in services and fixed assets. Where the entrepreneur has to pay another 5 percent.
Sheikh Fazle Fahim said any decision regarding business and investment should be discussed. Container handling charges have been increased from the beginning of this year. Such isolated decisions are increasing the cost of our business. Thus, there is no reason to increase the tariff.
Sheikh Fazle Fahim added that the price of locks in export containers has been increased from Tk. It will never be acceptable. These initiatives are like lemon in milk. In order to improve Bangladesh, all kinds of obstacles have to be removed.
The president of the FBCCI hopes the ERF will play a positive role in boosting the export of the four sectors.