The government should take immediate steps to bring down bank interest rates to single-digit to help flourish the country’s shipbuilding industry. Other shipbuilding nations are providing financial assistances with a very low interest rate for the development of the sector, speakers at view exchange meeting here on Tuesday said. Chittagong Press Club (CPC) organised the meeting titled, “Role of Ship Building Industry in Country’s Economy” at its auditorium. Md Sakhawat Hossain, Managing Director of Western Marine Shipyard Ltd, was the key speaker with CPC President Abu Sufian in the chair. Key speaker Sakhawat Hossain said that government might reduce the bank loan interest rate to single digit for shipbuilding industry and ensure other facilities like 15 percent cash incentives on export, exemption of import duty on local shipbuilding materials, provision of tax holiday and easy access to foreign experts. “If the facilities are provided, then the shipbuilding industry will help Bangladesh turn into a Middle Income Country (MIC) within the next 10 years”, he asserted. He further said that the shipbuilding industry has emerged enormously in the country during the past few years and Bangladesh recently received orders worth Tk 600 million for building 42 vessels. Shipbuilding industry can play a vital role in creating huge employment, increasing foreign currency earning, developing backward linkage, he said suggesting immediate development of four shipyard zones in the country’s Karnaphuli, Meghna, Mongla and Potualhali river bank in this regard. “Heavy logistic support is required to facilitate such massive sector which is not available in our country, so the government needs to provide support to uplift this potential and emerging industry,” opined Sakhawat Hossain. Later, Sakhawat Hossain donated Tk 200,000 to Chittagong Press Club as lifetime donor member.

News: Daily Sun/ Bangladesh/ Mar-02-2011