Dhaka: Considering the empowerment at the grassroots and its contribution to economic activities, the government has declared Agar as a small industry.

The decision was taken at a meeting of executive committee of National Council for Industrial Development in the meeting room of Industries Ministry with Minister Amir Hossain Amu in the chair.

Perfume or Atar extracted from the Agarwood is a sought-after perfume worldwide and its demand in the international market is huge. That is why, we are declaring it as a small industry,’ Amu said.

The minister said that already orders have been given to SME Foundation to play a more effective role in facilitating small entrepreneurs with loan at a low-interest rate.

Moreover, a decision has been taken to increase the funding in manufacturing sector on a priority basis.

Reiterating the government’s commitment to shifting the leather industry to Savar, the minister said, the time limit in this case will not be extended further.

Industries secretary Mosharraf Hossain Bhuiyan, NDC, the meeting was attended by science and technology secretary Asaduzzaman, expatriate welfare and overseas employment secretary Khandaker Md Iftekhar Haider and deputy governor of Bangladesh Bank Abul Kashem, among others.