coronavirus situation
12 die as Delhi hospital runs out of oxygen
The oxygen crisis in the Indian capital is escalating with each passing day. A week after 50 patients on ventilator died at two private hospitals in Delhi due to "low pressure oxygen", 12 more people lost their lives at another leading medical facility in the national capital on Saturday after it ran out of the life-saving gas.
Batra Hospital said the Covid care facility ran out of oxygen at 11.45am. "Supply came at 1.30pm (a second tanker reached at around 4pm). But we were out of oxygen for 1 hour and 20 mins. By the time supplies came, 12 people, including a doctor, were dead. Most of them were Covid patients on life support," the hospital said in a statement.
The deceased doctor has been identified as RK Himthani, the head of the hospital's gastroenterology unit. "He was also a Covid patient undergoing treatment at the hospital. Over 200 patients at the medical facility are still in a critical condition," a spokesperson for Batra told the media.
Delhi's Deputy Chief Minister Manish Sisodia took to Twitter to express his anguish at the loss of lives. "The central government) Friday told the Supreme Court that some 10,000 MT oxygen is produced daily in the country, which is quite surplus to the daily needs of 7500MT. Delhi needs 976MT, yet Delhi's quota is 490MT and supplies only 312MT. Why?"
Also read: 25 die in Delhi hospital due to oxygen shortage
India's main opposition Congress party's chief Sonia Gandhi too lashed out at Prime Minister Narendra Modi's government for the deteriorating Covid-19 situation in the country.
In a video message, the 74-year-old called for a nationwide strategy to fight the surge in Covid cases in India. "Testing should be increased across the country and medical oxygen and other resources should be arranged on war footing. Free vaccination should be arranged for all the citizens so that people can be saved," she said.
"It's high time that the federal and state governments wake up and fulfil their responsibilities. Migration of the labourers should be stopped. A minimum of Rs 6,000 should be added to their accounts till the crisis is over," Gandhi said in the video message shared by the Congress on the party's official Twitter handle.
Gandhi's call for a nationwide strategy and the 12 deaths at the Delhi hospital came on a day when India registered a record four lakh cases in a span of 24 hours, for the first time after reporting over three lakh daily infections for nine days in a row. Delhi alone has been logging nearly 20,000-25,000 Covid cases daily for the past fortnight.
Also read: Indian capital gasps for oxygen
In the past one week, at least 50 Covid patients on life support have died at two leading Delhi hospitals due to oxygen shortage. On April 24, Jaipur Golden Hospital, a dedicated Covid medical facility in Delhi, announced the death of 25 Covid patients in 24 hours due to "low-supply oxygen" to critical patients on ventilator.
A day before, another leading hospital in Delhi also said in a statement that 25 patients lost their lives in 24 hours due to an acute shortage of oxygen. "25 sickest patients have died in the last 24 hours. Oxygen will last another two hours. Major crisis likely. Lives of 60 sickest patients at risk, need urgent intervention," Sir Ganga Ram Hospital had said.
It may also be mentioned here that as many as 24 Covid patients on ventilator at a government hospital in the western state of Maharashtra died some 10 days ago after their oxygen supply ran out following leakage of the life-supporting gas from a tanker. The tanker was brought to Zakir Hussain Municipal Hospital in Nashik district to replenish the cylinders.
60 more die in Bangladesh as Covid continues its onslaught
The death toll from Covid-19 hit 11,510 in Bangladesh on Saturday as the country logged 60 more fatalities in 24 hours until Saturday morning, as all efforts to stop the pandemic have apparently gone in vain.
However, the country reported new cases of 1,452 during the 24-hour period ending at 8am, which was said to the lowest daily count in 48 days.
The overall infection tally reached 760,584 with the new cases and the positivity rate fell to 9.61% from Friday's 10.34%. But the death rate remained unchanged at 1.51%, said the Directorate General of Health Services (DGHS).
On March 14, Bangladesh reported 1,159 cases in 24 hours. The country's infection rate came down below 10% on Thursday after over a month, as it reported a 7.68% infection rate on March 17 and it rose to 10.45% the following day. Since then, the infection rate began an upward march.
Bangladesh on Friday reported its single-day Covid-19 death toll of 57, the lowest in 25 days.
According to the DGHS, 684,671 infected people have recovered from the disease so far and 3,245 of them in the past 24 hours.
The country conducted 15,117 new tests over the same period, which was 21,046 on Friday.
Bangladesh has so far carried out 548,4821 nationwide tests since reporting its first coronavirus cases on March 8 last year the first death on the 18th of that month.
The country recorded 52 coronavirus-related deaths on April 5, 78 on April 27, and 77 on April 28, showing a downtrend. It witnessed over 100 deaths during April 16-19 and on April 25.
Also read: Global Covid-19 cases top 151 million
April remains cruel
April still remains to be the cruel month for Bangladesh since the outbreak of the pandemic last year as 147,837 cases of infections and over 2,404 deaths were officially registered.
As the virus continues its onslaught, 568 people lost their lives in January this year, 281 in February and 638 in March.
Dhaka division remains the worst-hit region, registering most of the deaths – 6,714 or 58.33%.
Twenty-eight of the 60 deaths reported today are from Dhaka division and 19 from Chattogram division.
Lockdown to continue until May 5
Given the surge in new infections and deaths from the virus, the government enforced a nationwide lockdown in early April. Having failed to contain the current surge, the government imposed a strict lockdown on April 11 and then extended it up to April 28.
Also read: Bangladesh extends lockdown until May 5
On Wednesday, the government issued a circular extending the lockdown up to May 5, as there is no improvement in a spike in Covid-19 infections.
Returnee migrants: Almost half still unemployed, 28% in debt after a year
Nearly 48% of the Bangladeshi migrant workers, who were forced to return home last year due to the Covid-19 pandemic, are now dependent on loans and relatives' support in the absence of any regular source of income, says a Brac survey.
Many of them returned due to fear of getting infected, some lost jobs as companies closed operations, some returned permanently, while others returned on leave.
Also read: 70pc Bangladeshi returnee migrants struggling to find jobs: IOM
Many of them could not get back to their old jobs or migrate again to find a new job because of global lockdown.
This has left 98% of such returnees with severe anxiety, depression, and psychological disorders.
Read WB approves $200 million to help Dhaka support urban poor, migrants
The other 52% have started small businesses or are working as day labourers to make a living, said the Brac Migration Program survey titled "Searching and Analysing the Socio-economic Status of Returnees."
Brac surveyed 417 Bangladeshi returnees across seven divisions from March to April 2021 to explore and analyse their socio-economic and psycho-social situation, one year after their return to Bangladesh amid the pandemic.
Also read: MoU signed for helping returnee migrants
The majority of the respondents were returnees from Saudi Arabia, UAE, Qatar, Bahrain, Oman, Kuwait, and others returned from Italy, the UK, and Malaysia.
Around 19% of the respondents said they had returned to Bangladesh after losing their job, whereas 16% were forced to return, 16% returned due to the fear of Covid-19, 12% returned permanently, 2% returned due to illness, and 35% returned on leave.
Some 28% of the respondents claimed to be already in debt.
Also read: Over half of returnee migrants in need of financial aid now: Brac
Nearly 5 lakh people had to return to Bangladesh from their host countries due to the pandemic which has been raging since the end of 2019, the study says.
More than 10 million Bangladeshi expatriates are working across the globe now. The country’s remittance inflow reached $22 billion last year despite the virus outbreak, the highest on record.
Read Govt to expats: Don’t come during lockdown, except for emergencies
May Day to be celebrated Saturday
The historic May Day will be observed on Saturday as the world battles the coronavirus pandemic which has rendered millions of workers jobless across the world in recent months.
In normal times, the day is a public holiday in Bangladesh and marked with a slew of events. But there will be no outdoor event this year, like 2020, as the country battles the second wave of the virus.
Bangladesh is going through a lockdown that will last until May 5.
Like every year, newspapers will publish supplements while radio and television channels will air special programs to emphasise the significance of this day.
May Day, also called the International Workers' Solidarity Day, commemorates the historic uprising of the working class in Chicago for an eight-hour workday.
This year, the theme for this historic day in Bangladesh is "Sramik-Malik Nirbisesh, Mujib Borshe-Gorbo Desh” (roughly translated reads: workers and employers will join hands to build the country in the Mujib Year).
President Abdul Hamid and Prime Minister Sheikh Hasina issued separate messages ahead of the day.
President Hamid called upon the owners of mills and factories to assist the government in standing by the vulnerable workers bearing the brunt of the pandemic.
He paid gratitude to Bangabandhu Sheikh Mujibur Rahman for struggling throughout his life for the underprivileged people.
"Bangladesh received ILO membership soon after independence in 1972 under the bold leadership of Father of the Nation and ratified 29 conventions including six core convention of ILO,” he added.
Prime Minister Hasina also remembered the role of Bangabandhu in establishing the rights of the exploited and working class people.
"Bangabandhu formulated labour policy 1972 in order to establish an exploitation free and equal society. He nationalised the mills and factories to strengthen the economy while ensuring the rights of the workers," she said.
She said her government is working relentlessly to establish the rights of workers.
"Our government has established 100 special economic zones, which will generate employment for more than one crore people," she said. "We allocated Tk 8,600 crore for workers’ wage to combat the pandemic.”
The Prime Minister said the government has allocated Tk 50 crore to Labour Directorate to implement the social safety programme for the unemployed and distressed workers.
Ten workers were killed when police opened fire on a demonstration in Chicago demanding an eight-hour working day instead of a 12-hour shift on May 1, 1886.
The authorities were eventually forced to accept the workers' demand which resulted in an eight-hour day universally.
On July 14, 1889, an international workers' rally in Paris declared May 1 as the International Workers’ Solidarity Day in recognition of the Chicago workers' sacrifice.
The day has been observed globally as the International Workers’ Solidarity Day since 1890.
Khaleda unlikely to be discharged from hospital before Monday: Doctors
BNP Chairperson Khaleda Zia, admitted to Evercare Hospital on Tuesday night, is unlikely to be discharged before Monday next as her health cheek-up is yet to be completed, said her personal physician Mohammad Al Mamun.
“Madam (Khaleda) was scheduled to undergo an important test today (Friday), but it could not be done. This test will be conducted on Sunday. She also needs to undergo some other tests and I think all the investigations are unlikely to be completed before Monday,” he said.
Mamun said they had a plan to take Khaleda back to her house either on Saturday or Sunday. “As the tests are yet to be completed, it won’t be possible to discharge her before Monday.”
Asked whether Khaleda will undergo third Covid test, he said, “It’s not necessary, but we’ll arrange the test for her before she leaves the hospital.”
Also read: 10-member medical board formed for Khaleda's treatment
He said four of the staff of the BNP’s Gulshan residence who found positive for the virus during the second tests underwent the third tests and their reports came out negative. “So, we think she has already fully recovered from the virus.”
Dr AZM Zahid Hossain, another personal doctor of the BNP chief, said they want to complete all the necessary health check-up at the hospital before the BNP chief is discharged from the hospital since he has many health complications, including arthritis, diabetes, and eye and ophthalmological problems.
He said Khaleda was given some new medicines from Wednesday along with the previous ones as per the advice of the medical board formed at the Evercare Hospital for her treatment.
Also read: Khaleda hospitalised for thorough health checkup
Asked when Khaleda may return home, Zahid said they will make a decision on it after reviewing all the reports of her medical tests.
Earlier on Wednesday, a 10-member medical board, headed by Prof Shahabuddin Talukder, was formed for the treatment of Khaleda at the Evercare Hospital a day after her admission there for a thorough health checkup.
Khaleda Zia tested positive for Covid-19 test on April 10 as eight people at her residence were infected with the virus.
She underwent the second Covid-19 test on April 24 and her report was positive.
Also read: Khaleda Zia infected with Covid-19
Amid the coronavirus outbreak, the government freed Khaleda Zia from jail for six months through an executive order suspending her sentences on March 25 last year.She was released from the prison cell of Bangabandhu Sheikh Mujib Medical University (BSMMU) the same day, and she has been staying at her Gulshan house since then.
On August 27 last year, the government extended her release for six more months and it was extended again for six months on March 15 last.
On February 8, 2018, Khaleda was sent to the Old Dhaka Central Jail after a lower court sentenced her to five years’ imprisonment in Zia Orphanage Trust corruption case. The High Court later doubled her jail term.
Khaleda was found guilty in another corruption case the same year. Her party claims both the cases are politically motivated.
Bangladesh's daily Covid-19 death toll drops below 60
Bangladesh on Friday reported its single-day Covid-19 death toll of 57, the lowest in 25 days, even though the virus surge still remained at the disturbing level.
The new figure that came in the last 24 hours until Friday morning brought the country's total fatalities to 11,450 while health authorities reported 2,177 new cases during the period.
The infection rate rose to 10.34% from Thursday's 9.39% while the death rate remained static at 1.51%, said the Directorate General of Health Services (DGHS).
The country’s infection rate came down below 10% on Thursday after over a month, as it reported a 7.68% infection rate on March 17 and it rose to 10.45% the following day. Since then, the infection rate began an upward march.
The country recorded 52 coronavirus-related deaths on April 5, 78 on April 27, and 77 on April 28, showing a downtrend. It witnessed over 100 deaths during April 16-19 and on April 25.
With the latest figure, 7,59,132 cases have been detected so far in Bangladesh.
The number of recoveries now stands at 681,426, meaning 89.76% of the patients have recovered till now, the DGHS said.
Bangladesh has so far tested 5,469,704 samples, including 21,046 in the past 24 hours. The country reported its first coronavirus cases on March 8 last year and the first death on the 18th of that month.
April, the fatal month
In the last 30 days, 23,889 cases of infections and more than 2,404 deaths were officially registered, making April the most fatal month since the outbreak began last year.
The virus claimed 568 lives in January this year, 281 in February and 638 in March.
Dhaka division remains the worst-hit region, registering most of the deaths – 6,686 or 58.39%.
Twenty-eight of the 57 deaths reported today are from Dhaka division and 13 from Chattogram division.
Lockdown extended till May 5
To break the Covid chain, the government enforced a nationwide lockdown in early April. Having failed to achieve the intended results, it imposed a strict lockdown on April 11 and then extended it up to April 28.
On Wednesday, the government issued a circular extending the lockdown up to May 5, as there is no improvement in the Covid-19 situation.
However, shops and shopping malls will remain open from 10am to 8pm during the period, the announcement said.
Vaccination
Bangladesh launched its vaccination drive on February 7 with Oxford-AstraZeneca doses it purchased from India's Serum Institute.
The country signed an agreement with Serum for 30 million doses. But a record number of cases in India has made the delivery of the doses uncertain. The administering of the first dose remained suspended since Monday.
DGHS DG Prof ABM Khurshid Alam assured that Bangladesh will get 2.1 million doses of vaccine by the first week of May.
Vaccine production in Bangladesh
The Cabinet Committee on Economic Affairs on Wednesday approved in principle a proposal for producing Russian and Chinese Covid-19 vaccines in Bangladesh.
The government on Thursday approved the emergency use of Sinopharm, a Chinese Covid-19 vaccine. It approved the emergency use of the Sputnik V Vaccine of Russia a day earlier.
"We'll get 5 lakh doses of the Chinese vaccine as a gift within 7-10 days. Then we'll start distribution. Then the government will start buying those on a G2G basis," Mahbubur Rahman, Director General of DGDA told reporters on Thursday.
Incepta Pharmaceuticals, Popular Pharma and HealthCare Pharma have the capacity of producing vaccines, and the Chinese vaccine could be produced locally, Mahbubur said.
On Thursday, Dr Shahida Aktar, additional secretary of the Cabinet Division noted that the government will purchase vaccine technology from Russian and China through the direct procurement method (DPM)
India's Covid crisis
The explosion of new Covid-19 cases is overwhelming Bangladesh's largest neighbour India, leaving millions of people infected and putting stress on the country's already overtaxed health care system.
With 386,452 new cases, India confirmed more than 18.7 million on Friday since the pandemic began, the second only to the US.
Its health ministry also reported 3,498 deaths in the last 24 hours, bringing the total to 208,330. Experts said the actual figures were likely much higher but it is unclear by how much.
Months ago, India had appeared to be winning its battle against the pandemic. After a strict initial lockdown, the country did not see a surge in new cases and deaths compared to other countries.
But when the early restrictions were lifted, many people stopped taking precautions with large gatherings, political rallies and religious festivals being held at many places, drawing millions of people.
Bangladesh-India border sealed
On April 26, Bangladesh closed its border with India for any kind of movement except that of cargoes for the next 14 days as the coronavirus situation in the neighbouring country had gone out of control.
India's top court warns against any clampdown on social media Covid appeals
India's top court on Friday warned state governments across the country against any clampdown on citizens taking to social media for help or airing their grievances amid a surge in Covid-19 cases.
A three-judge bench of the Supreme Court said that it would initiate contempt action against state governments and law enforcement authorities if they file a police case or arrest people appealing for help or putting out their SOS messages on social media or elsewhere during the pandemic.
"It is of grave concern to me as a citizen or (a) judge. If citizens communicate their grievances on social media, we do not want a clampdown on information. Let us hear their voices. We will treat this as contempt if any citizen is harassed if they want bed or oxygen. We are in (a) human crisis," said Justice DY Chandrachud, who led the bench.
"Even doctors and healthcare workers are not getting beds," he said, describing the situation in the country "grim".
The court's warning came in the wake of a deluge of SOS messages on social media amid an escalating oxygen crisis in India, particularly in the national capital. Hospitals after hospitals in Delhi and its suburbs are sending out SOS messages to health authorities daily, seeking adequate supply of the life-saving gas.
Last week, at least 50 Covid patients on life support died at two leading Delhi hospitals due to oxygen shortage. Jaipur Golden Hospital, a dedicated Covid medical facility in Delhi, said on Saturday morning that 25 Covid patients died around midnight on Friday due to "low-supply oxygen" to critical patients on ventilator.
On Friday morning too, another leading hospital in Delhi announced the deaths of 25 patients in 24 hours due to a shortage of oxygen.In a statement, Sir Ganga Ram Hospital had said, "25 sickest patients have died in the last 24 hours. Oxygen will last another two hours. Major crisis likely. Lives of another 60 sickest patients at risk, need urgent intervention."
It may also be mentioned here that 24 Covid patients on ventilator at a government hospital in the western Indian state of Maharashtra died on Wednesday after their oxygen supply ran out following leakage of the life-supporting gas from a tanker.
The tanker was brought to Zakir Hussain Municipal Hospital in the state's Nashik district to replenish the oxygen cylinders at the medical facility for continuous supply to the 150-plus Covid-19 patients on life support.
Covid 2nd wave: PM stands beside people in need
Prime Minister Sheikh Hasina is manifesting her humanitarian gesture towards the needy people hit hard by the second wave of the Covid-19 pandemic as she did during the first wave last year.
She is extending humanitarian support to the low-income people, including extremely poor, workless, day labourers, rickshaw and van pullers, transport workers and farmers who are bearing the brunt of the pandemic.
More than Tk 1,500 crore has already been allocated to ease the sufferings of the marginalised people during the second wave of coronavirus.
As part of her humanitarian assistance, the Prime Minister is going to provide cash support of Tk 2,500 to each 36.5 lakh low-income families engaged in different occupations so that they can survive this tough time.
On Sunday next, she will inaugurate the disbursement of the financial assistance for these marginalised families.
Also read: People’s lives come first: PM Hasina
“Soon after the second wave of coronavirus got visible, the Prime Minister instantly directed to start humanitarian assistance activities,” said Prime Minister’s Office (PMO) Secretary Md Tofazzel Hossain Miah.
Noting that the Prime Minister sent cash support of Tk 2,500 to each 36.5 lakh families during the first wave, he said, “This time, she directed us to make cash transfer for the second time. The Prime Minister will launch the cash support disbursement among 36.5 lakh poor and helpless families on May 2.”
She has kept aside Tk 912.50 crore to provide cash support to 36.5 lakh families across the country, said the Secretary.
Each family will directly receive Tk 2,500 through G2P (Government-to-Person) as the cash money will be sent through mobile financial services (MFS) – Nagad, bKash, Rocket and SureCash.
Since the Covid-19 lockdown is enforced from April 14 last, marginalised people like temporary workless, destitute, day labourers, rickshaw and van pullers, transport workers, Hijra and beggars in urban and rural areas, said the PMO Secretary.
As per the PM’s directives, the Disaster Management and Relief Ministry instantly sent Tk 590 crore to the field-level administration to provide support to the needy people and now the disbursement of the money continues, he said.
Also read: Covid vaccines should be declared as global public goods: PM Hasina
Besides, the Prime Minister allocated Tk 10.5 crore against the deputy commissioners from her relief and welfare fund to provide emergency assistance to poor and destitute people, said the PMO Secretary.
In addition, different government agencies continue their social safety net activities and expedite the activities in some cases so that the general people would not suffer, PMO Secretary Miah said.
The Prime Minister with own initiative has provided Tk 10 crore to the Journalist Welfare Trust as assistance for the journalists who are facing hardships due to the fallout of the pandemic, he said.
He said the government introduced a call centre (333) service mainly targeting the middle class people who feel hesitation or ashamed to seek assistance publicly. If anyone seeks help by calling 333, the local administration would send assistance to his or her home secretly, said the secretary.
Tofazzel Hossain said harvesting of paddy in the Haor region is being completed quickly as per the Prime Minister’s directives and 80 percent paddy has already been harvested.
He said the local administration took initiative to hire workers from other regions for harvesting paddy in the Haor region, while the ministry concerned supplied harvesters and reapers to the region.
Govt doing business in Covid’s name: BNP
Taking a swipe at the government for the current crisis over the Covid vaccine, BNP Secretary General Mirza Fakhrul Islam Alamgir on Friday accused it of indulging in business in the name of coronavirus.
“The government is not accountable to anybody as it has no connection with people. So, it’s doing business with the coronavirus pandemic,” he said.
The BNP leader said, "We had warned the government earlier that the vaccine shouldn’t be taken from a single source. But they’ve taken the vaccine from only one source for their own benefit. As a result, the country is now facing a vaccine crisis.”
Fakhrul made the remarks while speaking at a programme at BNP chairperson’s Gulshan office.
Also read: Engaging single organisation in buying vaccines a ‘suicidal’ move: BNP
At the programme, he, on behalf of party acting chairman Tarique Rahman, presented eid gifts to the family members of those leaders of BNP and its associate bodies who were subjected to enforced disappearance and killing during the current government.
He alleged that the government did not take effective steps to tackle coronavirus and ensure proper treatment for people over the last one and a half years. “They’ve only worked on how to make money, how to indulge in corruption. So, people are not getting treatment and they’re going from one hospital to another for ICU beds.”
The BNP leader said their party had called on the government over a year back to contact Russia and China as alternative sources for vaccines, but they did not pay heed to it. “They’re now going to sign deals with China and Russia after killing plenty of time. They’re now drinking muddy water ignoring the fresh one.”
He said the government should have taken united steps to tackle a national disaster like coronavirus by sitting with all the political parties and relevant stakeholders.
Also read: Coronavirus: BNP urges govt to shut borders with India
Pointing at the family members of the victims of enforced disappearance, Fakhrul said their party has no strength to recover the losses they have suffered with the disappearances of their loved ones. “That’s not possible either. Every year such events make us emotional, and when I appear before you like this, I feel guilty as we’ve so far not been able to change the situation.”
Fakhrul said BNP's over 500 leaders and activists were subjected to enforced disappearance over a decade.
Referring to different rights bodies’ statistics, he said 601 people were made disappeared during 2009 to 2019 while 2,817 were subjected to extrajudicial and other killings.
"So many people have had to give their lives and so many young people have had to leave… The government and Awami League must be accountable one day to the victims’ families and the entire nation for this," the BNP leader warned.
Small businesses pin hopes on budget to stay afloat
Hit hard again, this time by the second wave of the Covid-19 pandemic, Bangladesh's small and medium enterprises (SMEs) are now pinning hopes on the upcoming budget to stay afloat. Not to mention that the survival of these firms is important as they are one of the major employers in the country's economy.
Ranging from short-term liquidity and tax cuts to simple compliance for availing loans and extension of debt repayment periods by at least two years, these enterprises seek an array of relief from the government to tide over the economic crisis. These leeways to SMEs, entrepreneurs say, will not only help the sector survive but also ensure the preservation of jobs.
Read Speakers urge for simplifying process of stimulus fund disbursement to SMEs
Kazi Sazedur Rahman, the president of Paper Cup Manufacturers' Association of Bangladesh (PCMAB), told UNB that though a slew of stimulus packages was announced by the government last year, over 80 percent of the small entrepreneurs in Bangladesh failed to reap the benefits of the same due to corruption in the system.
“Though Bangladesh Bank said that over 72 percent of the stimulus packages worth Tk20,000 crore were disbursed as loans until March 31, the reality is different. Some 95 percent of the disbursed loans were availed by corporate houses through sister concerns floated overnight," said Sazedur, also the MD of KPC Industry.
According to him, the SME sector has again been hit hard by the second wave of Covid. "The government has so far been very supportive of the sector, but the problem lies at the loan distribution level. Many SMEs are already out of the banking system. If more help is not extended to the sector in the coming fiscal, then many more SMEs will disappear."
Also read: Central bank to support SMEs build resilience
The small entrepreneurs also seek a substantial cut in the value-added tax on various items in the upcoming budget -- from the existing 15 percent to 5 percent. "Lower taxation will, in turn, benefit the economy as many SMEs don't acquire trade licenses to avoid paying 15% VAT. So, a cut in VAT will benefit both the government as well as the SMEs," Sazedur said.
"Moreover, the central bank should immediately impose a moratorium on old loan repayments as it has already extended the deadline till June 30 for banks to disburse stimulus funds among businesses in the cottage, micro, small and medium enterprise (CMSME) sector. Otherwise, many defaulting entrepreneurs won't get the benefit."
Read Raise threshold for financial reporting of SMEs: DCCI