79pc of business establishments fail to receive stimulus funds: SANEM

Some 79 per cent of business establishments have failed to receive funds from the stimulus packages announced by the government to restore the economy hit hard by coronavirus, according to a survey of non-government research organisation SANEM.

Of them, 65 per cent of the business establishments have not received any fund. Some 14 per cent of owners don't know anything about the stimulus packages. The remaining 21 per cent of owners received funds. Small companies are getting less than the big companies.

The survey was conducted on 501 business establishments in July considering situation between June and April.

South Asian Network on Economic Modeling (SANEM) revealed the findings in its 5th phase of survey titled 'Covid-19 and Business Confidence in Bangladesh.'

The survey findings were disclosed at a press conference online on Saturday morning. The Asia Foundation supported the survey.

Some 29 per cent of businessmen, who participated in the survey, alleged bribes have been demanded.

64 per cent of businessmen think economic recovery is weak. 27 per cent think the recovery is fine.

SANEM said the Covid situation was worse in April-June than the previous quarter. So the confidence of the businessmen fell to 41 per cent in the quarter. It was 58 per cent in the previous quarter of January-March.

How was the economic recovery process due to the coronavirus? In reply to this question, 64 per cent of businessmen said economic recovery is weak. 27 per cent think it is fine. Nine per cent of businessmen think the recovery is strong.

SANEM executive director Selim Raihan said the pace of economic recovery is slow. The Covid crisis will not go away any time soon. Separate strategies have to be adopted in accordance with the new situation.

He said the type of lockdown which will be applicable in Dhaka, will not be suitable in Rangpur.

Again, the strategy which will be applicable for the RMG sector, may not be applicable for other sectors. An economic recovery strategy has to be determined in consultation wit the private and public sectors.

During the survey, owners and representatives of business establishments were asked as to what per cent of them and their workers have received Covid vaccines.

In reply, 60 per cent of owners said they have taken at least one dose of the vaccine. Only 25 per cent of workers have received the vaccine. Some 75 per cent of workers have not received even one dose. In the RMG sector, one in every five workers have received the coronavirus vaccine.