BPGMEA expects 20pc yearly growth in domestic sales
X-onics Ltd, a UK-Bangladesh joint venture company, organised a free workshop for engineers and technicians on digital manufacturing and digital reverse engineering for mold, dice and spare parts in Gazipur on Saturday. X-onics, which started its operations in August 2021 with a technical collaboration with Mitsubishi Materials Corporation Hard Metal, India, is the first company in Bangladesh that provides digital manufacturing, reverse engineering and computerised simulation support in precision engineering and fast solution for spare parts, mold and pattern reproduction using sophisticated 3D scanning, printing, and CNC technologies. While virtually addressing the inaugural session of the workshop, technical consultant of the company Dr Mahbubunnabi Tamal said that plastic goods worth more than Tk 28,000 crore are sold in the local market of Bangladesh every year. To produce this amount of plastic goods, around Tk 10,000 core of injection mold is required and only 30-40 per cent of these are facilitated by local entrepreneurs, explained Dr Tamal, also an associate professor at Dammam University, KSA, and former researcher at The University of Manchester, UK. If Bangladesh can capture 1.0 per cent of the world market, it is possible to export products worth more than Tk 6,000 crore every year.
80% CMSME loan disbursal target met in six months
Loan disbursement to the cottage, micro, small and medium enterprises (CMSME) sector has gained pace with improving pandemic situation as banks and non-bank financial institutions (NBFIs) have disbursed 80% of the yearly target from January to June this year. As of the end of June, Tk2.30 lakh crore has been disbursed to the CMSME sector against the yearly disbursement target of Tk2.85 lakh crore. According to the report of the central bank, most loans have been distributed to the productive and business sectors during this period. These two sectors accounted for 79% of the total disbursed loans. Apart from this, at the end of June, the default amount of loans disbursed to the total CMSME sector stood at 15.26%.
Mr. Md Zahidul Haque new MD of RAKUB
Md Zahidul Haque has joined Rajshahi Krishi Unnayan Bank (RAKUB) as its managing director. Prior to the new assignment, he was the Managing Director of Probashi Kallyan Bank. Md Zahidul Haque started his banking career as Senior Officer in Bangladesh Shilpa Bank, currently known as Bangladesh Development Bank Limited (BDBL) on January 1, 1990. He joined BHBFC as Principal Officer on November 19, 1995.