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Speakers at a seminar Wednesday said lack of suitable environment, government's tax policy, more concentration on export and trading business are the major impediments to smooth development of small and medium enterprises (SMEs).
They urged the government to determine a proper definition of SME, formulate a guideline for the investors and reduce bank interests to help flourish the SMEs in the country.
Organised by the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) as a part of its ongoing SME fair 2005, the seminar was held at the Bangladesh China Friendship Conference Centre (BCFCC).
State Minister for Planning Anwarul Kabir Talukdar attended it as the special guest while FBCCI first vice president Kamaluddin Ahmed moderated the seminar.
FBCCI vice president Abul Quasem Haider and Bangladesh Small and Cottage Industries Corporation (BSCIC) chairman Sikander Ali Mandol were also present at the seminar.
Chief advisor of Bangladesh Electronics Innovative Manufacturers' Association (BEIMA) Khondker Siddique-e-Rabbani presented the keynote paper on "Access to Finance for SMEs."
Some 150 entrepreneurs, including women of the SMEs from different parts of the country, participated in the seminar.
Addressing the seminar as the chief guest, minister for industries Motiur Rahman Nizami said the people who are involved in trading related activities are influencing the government policy but industry owners are failing to do so.
Nizami urged the industrialists to give more attention to local market rather than export.
"The tax policies have always favoured imported finished products rather than local goods," said Rabbani in his keynote paper.
Citing examples, he said UPS of computers, solar generators including electronics change controllers and inverters have been enjoying zero import duties but authorities are charging tax and VAT ranging from 35 per cent to 90 per cent on the import of their raw materials.
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