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Informal Sector Industry Skills Council
(ISISC) today demanded of the government to create an emergency fund for
small entrepreneurs and labourers and provide emergency loans with lower
interest rate amid coronavirus outbreak.
“Around 20 million people engaged in jobs in the informal sector have
already become temporarily jobless as a fallout of coronavirus putting
serious pressure on the economy,” the ISISC said in a statement.
So, the government, it said, should create an emergency fund for small
entrepreneurs and labourers in the informal sector and provide emergency
loans with lower interest rate in view of the coronavirus outbreak. The
statement, signed by Md. Abdul Aziz Munshi, a specialist of the informal
sector, pointed out that the coronavirus pandemic has substantially put
adverse impact on various trades in the informal sector.
“Many small entrepreneurs are in a distressed situation as their income is
almost nil at this moment and they are facing shortage of funds to maintain
family and pay salaries to the employees,” it said.
The ISISC lauded Prime Minister Sheikh Hasina for announcing Tk 727.50
billion stimulus package to facilitate large, SMEs and micro-businesses and
enterprises, saying that it is a well-timed and crucial financial decision.
“The declared package, however, would not benefit the entrepreneurs, Master
Craft Persons (MCPs) and labourers in the informal sector as the industry is
not yet covered by SME definition of the National Industrial Policy 2016,”
the statement read.
It said the declared package will largely be used by SMEs, cottage and big
businesses defined in the National Industrial Policy, adding the industry
people and labourers cannot avail the assistance provided by the government
under the social safety programmes.
The ISISC requested the government to allocate cash support for
entrepreneurs, MCPs and labourers for saving informal sector industries and
called for engaging financial institutions to lend money from the support
package to assist informal business.
Established by the National Skills Development Authority (NSDA) under the
Prime Minister’s Office (PMO) as a non-profitable organisation, ISISC has
been working with the informal sector industries in Bangladesh since 2015.
Major trades and enterprises of informal sector include tailoring &
dressmaking, block boutique & screen-print, embroidery & nakshi kantha,
handloom, beautification, driving, motorcycle mechanic, automobile mechanic,
electric house wiring, electronics mechanic, sanitation housing, construction
housing, painting and mobile servicing.
Other trades and enterprises include tiles fitting, steel furnishing &
making, plumbing, refrigeration & air condition, boat & furniture making,
welding, photography, graphics design & multimedia, shoe repair & making,
candle making, dairy & farming, poultry, beekeeping, jute product making,
packaging, mome nursing, housework, forestry & nursery etc.
(BSS)
