ICMAB hosts webinar on impact of Covid-19 on SMEs, SMPs

Staff Correspondent

29 June, 2021 12:00 AM printer

The Institute of Cost and Management Accountants of Bangladesh (ICMAB) organised an international webinar on “Covid-19 impact on the SMEs and SMPs: The Bangladesh Perspective” on Sunday.

Planning Minister MA Mannan spoke at the webinar as the chief guest while President of The International Federation of Accountants (IFAC) Alan Johnson, President of South Asian Federation of Accountants (SAFA) and Past President of ICMAB AKM Delwer Hussain spoke as special guests.

Dr Md Salim Uddin, Professor University of Chittagong and Chairman, HBFC presented the key-note paper chaired by ICMAB President Abu Bakar Siddique,  said an ICMAB press release on Monday. Abu Sayed Md. Shaykhul Islam, former president and present council member of ICMAB; Satish Kumar Gupta, Chairman, Small & Medium Practices Committee, SAFA; Sanjeev Singhal, Chairman, Committee for Members in Practice, ICAI joined the webinar as speakers.

Members of SAFA, CAPA and IFAC holding responsible positions in different national and international organizations at home and abroad took part in the webinar as participants.

Speaking on the occasion, the Planning Minister alleged that the advanced countries are using COVID-19 vaccines as a political tool as some they have stockpiled such jabs beyond their requirements, which is not acceptable.

He said COVID-19 has been a very painful experience for the people working in the informal sector and a large number of small wage earners lost their jobs immediately after the pandemic broke out.

"The government has taken many initiatives including announcing stimulus packages sized more than four percent of the country’s GDP. Our government did very well in terms of controlling deaths and infections in comparison to our neighbouring countries," he added.

President of IFAC Alan Johnson said countries and organizations need to collaborate to face the rapid changes happening due to Covid-19.  "This is clearly a lesson that we all can learn from the ongoing Covid-19 crisis," he added.

President of SAFA A. K. M. Delwer Hussain said MSMEs are the key driver of the country's economy.

ICMAB President Abu Bakar Siddique said SMEs are the bloodline of Bangladesh’s economy creating employment for 7.8 million people directly and providing livelihood for 31.2 million.

"SMEs need to be uplifted so that the sector can generate quality employment. SMEs can be the engine for economic growth and employment generation after the Covid-19 crisis, but it all depends on effective and visionary response by the government - Bangladesh's long-term aspirations depend on it," he added.

Md Mamunur Rashid, Vice-President of ICMAB delivered the welcome address while Kazi Muhammad Ziauddin, Secretary of ICMAB offered the vote of thanks.

Imtiaz Alam FCA, Council Member, ICMAB conducted and moderated the webinar.