ZCZC
BSS-43
PM-COVID-19-BOISHAKH 2 DHAKA
Noting that she doesn’t know how long the ongoing crisis will persist and
how much impact it will put on Bangladesh’s economy, Sheikh Hasina said her
government has been working untiringly to offset the possible negative impact
on the economy.
The premier said the government has already announced various stimulus
packages involving Taka 95,619 crore which is 3.3 percent of the GDP (Gross
Domestic Product) to offset the possible adverse impact on the economy due to
the nationwide shutdown declared for the coronavirus pandemic.
Spelling out measures taken by the government, Sheikh Hasina said, “We’ve
sorted out four main tasks to fallout the probable blow on the economy due to
coronavirus outbreak.”
She said programmes will be executed in three phases with starting instant
implementation in the rest three months of this fiscal, the short-term from
the next year and mid-term in the next three years.
Sheikh Hasina elaborated the four programmes taken to cope with the
possible economic impact on the country due to the coronavirus outbreak.
1)Increasing public expenditure: Generating employment will be basically
given priority in public expenditure.
2)Giving financial stimulus packages: The main purpose of the stimulus
packages to revive the economic activities, keeping the job of the workers
and employees as well as the competitive edge of the entrepreneurs intact.
3) Widening the coverage of the social safety net: The coverage of our
existing social safety net would be further widened to fulfill the basic
needs of people living below the poverty line, day labourers and people who
are engaged in non-formal works.
4)Increasing monetary supply: The monetary supply will be increased in
such a way that there will be no inflation and helpful to overcome the
adverse impact on the economy.
The premier also described the measures taken by her government for
safeguarding the marginalized people alongside continuing the social safety
net programmes to make up for the possible wrath arising out of the
coronavirus outbreak.
1)A total of five lakh metric tons of rice and one lakh metric ton wheat
worth about Taka 2,503 crore have been allocated to distribute those among
the low-income people.
2) The programmes relating to sale of rice at Taka 10 per kilogram among
the low-income people under the OMS (Open Market Sale) have already started
in the towns and Taka 251 crore subsidy will be given for the purpose.
3)Directive has already given to quickly prepare the list of day
labourers, rickshaw-van drivers, motor- construction workers, newspaper
hawkers, hotel workers and the people of other professions who have lost
their jobs due to declaring of longtime general holidays or partial lockdown.
Cash will be sent in a single installment directly to their bank accounts
once the list is completed. A total of Taka 760 crore has been allocated in
this sector.
4) Allowance for elderly people, widows and the women repressed by their
husbands under the social safety net programmes will be made cent percent in
the most-poor 100 upazilas. As many as taka 815 crore have been allocated in
the budget for the purpose.
5) Building houses for homeless people as part of the programmes “none
will remain homeless” marking the birth centenary of the Father of the Nation
would be implemented quickly. A total of Taka 2130 crore will be allocated
for this purpose.
The prime minister said that the financial stimulus packages announced for
the industry are: Taka 30,000 crore as working capital for the affected
industries and service sectors; Tk 20,000 crore as working capital for very
small, small and medium enterprises; Tk 12,750 crore to increase the
advantages for Export Development Fund (EDF); Tk 5,000 crore under the Pre-
shipment Credit Refinance Scheme and Taka 5000 crore as special fund for the
export oriented industries.
Stressing the need for boosting the agriculture production in the current
situation, Sheikh Hasina said, “We shouldn’t leave a small piece of land
uncultivated as we don’t want to experience any food crisis in the days to
come.”
The premier said the agriculture related ministries have already been asked
to take effective measures as no shortage of agricultural inputs such as
fertilizer, seeds and pesticides arises and reach those to farmers in time.
The prime minister also said that her government has decided to procure
additional 2 lakh metric tons of paddy in comparison to the last year to
facilitate the farmers to get actual price of the Boro paddy.
“We’ve decided to allocate additional Taka 860 crore to this end while Tk
200 crore have already been allocated for purchasing agricultural machinery,”
she continued.
Sheikh Hasina pointed out that the government has raised a fund of Taka
5000 crore for disbursing as the current capital in the agricultural sector.
“Loan could be provided from the fund at 4 percent interest rate to the
small and medium farmers for agriculture, fisheries, dairy and poultry,” she
said, adding Tk 9500 crore have been allocated as agriculture subsidy.
The premier said her government is keeping a sharp eye on the situation
evolved for the coronavirus pandemic and has been taking measures whatever
necessary to protect Bangladesh from its onslaught.
In this context, she said, “In this moment, there is no crisis of foods as
there is sufficient stock of foods in the government warehouses as well as in
the houses of well-off farmers.”
Referring to last season’s bumper production of Ropa Aman (Transplantation
Aman) paddy, she said there was a forecast of abundant production of Boro
paddy in this season.
“Special measures have been put in place to ensure uninterrupted supply
and distribution of foods and agricultural products,” she said.
Appreciating the strides of affluent section of people of the society to
join hands with the government in distributing relief materials, the prime
minister requested the well-off people to continue their efforts in the
coming days.
But, she said that it was necessary to distribute the relief goods in
coordination with the local administration and law enforcement agencies
instead of giving those separately to check the coronavirus spreading.
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