Jute sector needs low-cost funds like EDF: FBCCI

Businesses today called for arranging low-cost fund just like the Export Development Fund for the jute sector, which will provide entrepreneurs with loans at 2 per cent interest.

They came up with the call at the first meeting of the standing committee on jute and jute goods of the Federation of Bangladesh Chambers of Commerce and Industry.

The meeting took place at the FBCCI office in Dhaka.

The low-cost fund is now the only way to help the jute sector revive, they said.

The meeting also demanded withdrawal of 2 per cent source tax on raw jute purchase and 10 per cent on export incentives imposed in the budget.

FBCCI Senior Vice-President Mostofa Azad Chowdhury Babu, Vice-President Md Amin Helaly and Director In-Charge of the Committee Mohammad Mahbubur Rahman Patwari also spoke.