BSS-64 PM announces Tk 5,000 crore stimulus package for industries

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BSS-64

PM-INCENTIVE-INDUSTRIES

PM announces Tk 5,000 crore stimulus package for industries

DHAKA, March 25, 2020 (BSS) – Prime Minister Sheikh Hasina today announced a stimulus package of Taka 5,000 crore for export-oriented industries to fight the impact of coronavirus on the country’s economy.

“I’m declaring a stimulus package of Tk 5,000 crore for export-oriented industries which could only be used for paying salaries and allowances of their workers and employees,” she said in her nationwide address on the eve of the Independence and National Day 2020 this evening.

The premier pointed out that the Bangladesh Bank has already taken some business-friendly initiatives in the country. “The central bank has announced not to declare any client loan defaulter by till June this year,” she said.

Sheikh Hasina said the deadline of collecting income from export has been extended to six months from two months. “Similarly, timeframe of meeting up import expenditure has also been extended to six months from four months,” she said.

The prime minister said the limit of monetary transaction through mobile banking has also been increased.

“Time limit of paying electricity, water and gas bills has been extended till June without surcharges or fines, while payment of installments of NGO loans has been suspended temporarily,” she said.

Meanwhile, President of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Dr Rubana Haque expressed heartfelt gratitude to the prime minister for declaring the Tk 5,000 crore stimulus package for the export-oriented industries.

In a video message, Dr Rubana said the readymade garment (RMG) industries are going through a tough time, and lakhs of their workers are facing risk (of losing job) due to the outbreak of novel coronavirus across the globe, including Bangladesh.

“But honourable Prime Minister Sheikh Hasina’s timely announcement of Tk 5,000 crore package for paying salaries and allowances of the workers and employees of the industries will save their lives,” she said.

“For this, our entire industrial sector, including export-oriented industries, express heartfelt gratitude to the prime minister,” the BGMEA president added.

BSS/SH/MRU/2332hrs