Women entrepreneurs for raising BB revolving fund credit limit

Staff Correspondent | Published: 00:00, Mar 03,2019

 
 

Women Entrepreneurs Network for Development Association on Saturday placed for consideration in the upcoming budget a set of eight proposals, including increase in credit limit of revolving fund of Bangladesh Bank for women entrepreneurs.
The association president Nadia Binta Amin raised the demands at a press conference for consideration of the government for the development women entrepreneurship in the country.
WEND demanded that the government should ensure access to finance at lower interest rate and easier conditions for women entrepreneurs through raising the credit limit of revolving fund of Bangladesh Bank to Tk 1 crore.
The other demands include reduction of tax and VAT rates, setting up of a training institute, establishment of support service centre at each division and allotment of plots to women entrepreneurs at economic zones with easier condition.
Referring to Mastercard Index of Women Entrepreneurs data, Nadia said that 31.6 per cent of total entrepreneurs were women who had been relentlessly working to develop the economy of the country.
But, women entrepreneurs are being deprived in many forms including from getting access to finance, she said, adding that women entrepreneurs were charged high interest rate for loans.
She demanded for a government policy in this connection.
Nadia also recommended that the government set VAT at the highest 5 per cent for women, increase the tax-free income ceiling to Tk 5 lakh from current Tk 3 lakh and provide duty-free facility on import of machinery for women entrepreneurs.
She also demanded VAT exemption for the firms which were operated by the women entrepreneurs with an annual turnover below Tk 50 lakh.
She also recommended for lowering the corporate income tax rates by 5 per cent, 7 per cent and 10 per cent in next three years saying that the rates are very high in the country compared with that of the competitive countries. WEND senior vice-president Shamima Laizu, vice-president Ayesha Siddiqua, treasurer Anwara Siddiqua, general secretary Zishan Akter Chowdhury, among others, were present at the briefing held at the Economic Reporters Forum auditorium in Dhaka.

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