Prime Minister Sheikh Hasina on Sunday said the government has initiated necessary measures to bring down interest rate on bank loan to single digit to facilitate low-cost fund for industries and other businesses.

“We wish to bring it (lending rate) down to single digit. We’ve already taken necessary steps so that investment becomes easier,” she said while handing over National Export Trophy in the capital on Sunday.

Holding high rate of interest partially responsible for loan defaults in the country, the prime minister said, “It’s not possible to build an industry immediately after taking money (from banks).”

She said several banks are already going by the directive the government has issued for lowering the lending rate to single digit while some others are yet to follow it.The Prime Minister handed over National Export Trophy 2016-17 to 66 companies for their extraordinary performance in the country’s export earnings.

Business entities received the trophy under 28 categories at the ceremony jointly organized by Commerce Ministry and Export Promotion Bureau (EPB) at Bangabandhu International Conference Centre. Of the 66 award winning companies, 29 selected for gold, 21 for silver and 16 for bronze ones trophies.

Laying emphasis on industrialization, the prime minister said, “We’re moving forward with the industrialization plan we have taken. We’re establishing 100 economic zones across the country for local and foreign investment.” She said the government is offering special incentives, including ensuring all sorts of services in the zones, to attract investment in the economic zones.

About the gas supply, Sheikh Hasina said the government is importing liquid natural gas (LNG) to meet the growing gas demand as the country has limited reserve of gas in its wells.She said her government has given special attention to ensuring that there will be no gas crisis in the country in the future.

The prime minister urged the businesspeople to take special initiatives regarding waste management and preservation of nature from the very beginning of setting up industries. “You’ve to have proper waste management from the very beginning of your industry. You’ve to keep a water reservoir to harvest rainwater,” she added.

The prime minister called on the exporters to add new products to country’s export basket and look into the demands of non-traditional products across the world.”You’ve to know the demands in various countries and produce your products in line with that… You’ve to grab new markets.”

Commerce Minister Tipu Munshi chaired the function, addressed among others, by Chairman of the Parliamentary Standing Committee on Commerce Ministry Tofail Ahmed, Federation of Bangladesh Chambers of Commerce and Industry President Sheikh Fazle Fahim, Senior Secretary of the Commerce Ministry Md Mofizul Islam and EPB Vice-Chairman Fatima Yasmin.