Move to create ‘Start Up Fund’ for new entrepreneurs

The government for the first time is going to create a ‘Start Up Fund’ for the new entrepreneurs in the upcoming budget for the next fiscal year (FY20) in a bid to generate more employments through creating new entrepreneurs.

Additional Secretary to the Ministry of Finance M Habibur Rahman said this while addressing a training Programme for the economic reporters organised by the Press Institute of Bangladesh (PIB), reports BSS on Thursday.

Habibur said employments are not being created in that pace, the way Bangladesh is witnessing higher growth over the last few years.

Although many are terming this as ‘job-less’ growth, he said the government is going to create this ‘Start Up Fund’ to create employments, especially for the new entrepreneurs.

Habibur also informed that special measures would be taken so that the real entrepreneurs get assistance from this fund.

He, however, gave no information about the size of the fund.

Besides, he said that special initiatives would be there in the next budget for ensuring diversification of exports.

“Like the RMG sector, we’ll give such stimulus to some other products to expand the export basket. Special allocation will be kept in the next budget for some products, “he added.

Mentioning that the government has already set a target to identify 10 million new taxpayers, the senior Finance Division official said that special measures would be there in the ensuing budget to boost revenue generation.

He said the government would appoint some 10,000 university students who would look for new taxpayers, by going door to door for a period of three to six months and thus it would be possible to find 10 million new taxpayers.

Habibur also informed that special measures would be there for the small investors, who are affected in the capital market.