SMEF facilitates loans to 3,106 entrepreneurs.
Some 3,106 entrepreneurs have so far received Tk 3.0 billion from the stimulus package from different banks and the financial insinuations through the intervention of the SME Foundation (SMEF).Of the total, the SMEF has accomplished disbursement of Tk 2.0 billion within the first six months of the current fiscal year (FY) that is much ahead of the schedule, a statement issued by the SMEF said on Sunday.The funds were made available to the country’s cottage, micro, small, and medium enterprises (CMSMEs) at an affordable interest rate to help tackle the Covid-19 fallout.Since the SMEF is not a lending organization, it facilitated the process to disburse the money from 19 banks and non-bank financial institutions (NBFIs).
The statement also said the government declared a Tk 15 billion stimulus package in the second phase for the sake of helping the rural and marginal CMSMEs across the country, while the SMEF was entitled to facilitate disbursement of Tk 3.0 billion.Some 74 per cent beneficiaries were males and the rest were females. The entrepreneurs included 1,462 traders and 1,176 manufacturers.Around 50 per cent of the beneficiaries got Tk 0.5 million each.The SMEF also said it inked deals with 10 banks and NBFIs in the first phase and 19 such organisations in the second phase to disburse the loans at 4.0 per cent interest.They prioritized females, new and marginalized including third gender entrepreneurs, and also those who did not get support from other sources.
Booming tissue sales boost Bashundhara Paper’s revenue, profits
The booming sales of tissue and hygiene products in the coronavirus pandemic have boosted both the profit and revenue of Bashundhara Paper Mills. The market leader in the tissue industry has reported a 23% year-on-year growth in revenue in the first half of the current fiscal year, while its profit grew by 42%.The revenue of Bashundhara Paper Mills Limited, which is also a major player in the country’s paper industry, comes mainly from two segments – paper and tissue products. A significant portion of revenue also comes from the sales of various hygiene products such as diapers and sanitary napkins.
According to officials at the company, the stake in its total revenue from the tissue segment has been increasing because of the rise in health consciousness among the people amid the pandemic.As educational institutions were closed for a long time for Covid-19, its paper segment’s contributions declined.But after the reopening of the educational institutions in September last year, paper sales increased again.As per sales data, its revenue from paper, and tissue products was almost the same in the July-December of 2021, although in the normal time, paper’s revenue was much higher.In the first half of the 2021-22 fiscal year, its total revenue stood at Tk540.30 crore, which was Tk437.71 crore a year ago.Of the revenue, 38% or Tk205.85 crore came from the paper segment, and 37.67% or Tk203.56 crore from the sale of tissue products.In FY21, Bashundhara Paper Mills had received 43% revenue from the sales of paper products, 37% from tissues, and 19% from hygiene items.The sales of Bashundhara Paper Mills products have been increasing gradually in both local and international markets.