DHAKA, May 8, 2020 (BSS) – Workers of the ready-made garment (RMG) sector
has started to get salaries as banks are disbursing loans for paying wages of
April from the government’s stimulus package of Taka 5,000 crore.
As per the application of the different export-oriented industries, banks
have started to disburse soft loans under the stimulus package a few days
ago.
Talking to BSS, Bangladesh Bank (BB) Chief Spokesperson M Serajul Islam
said the central bank has already released fund to the respective banks as
per their demand for giving wages of April.
“In the first phase, the central bank has released Taka 2,000 crore to
banks. The government has announced the package to give salaries for April,
May and June. As per the demand of banks, we have already released the fund,”
he added.
Bangladesh Garment Manufacturers Association (BGMEA) Senior Vice President
Faisal Samad said workers of the some factories have already received their
wages for April through their mobile financial service (MFS) accounts and
rest of the workers will get their wages soon.
“BGMEA has given certificates to its around 1650 members to apply for the
loan. The wages of the workers are being given through their MFS accounts. So
far, around 30 lakh workers have opened MFS accounts,” he added.
Managing Director of the Southeast Bank Limited (SEBL) M Kamal Hossain said
as per the application of the RMG owners, SEBL needs around Taka 450 crore to
give wages for the three months to the RMG workers.
“BB has already released around Taka 170 crore for April in favour of SEBL.
We have been disbursing the fund for the last few days” he added.
He hoped that the wages for April to be disbursed by Sunday.
Deputy Managing Director of the Islami Bank Bangladesh Limited (IBBL) Abu
Reza Md Yeahia said for receiving the soft loan, export-oriented industries
have to complete several procedures. “We are disbursing the fund as per the
preparation of the applicants,” he added.
Head of the Premier Bank Limited Dilkusha Branch Abdul Baten Chowdhury said
the central bank has already released Taka 100 crore in favour of the Premier
Bank. “Several clients have already completed all preparations. We will start
to disburse the fund from Sunday,” he added.
Earlier, the government announced a stimulus package of Taka 5,000 crore
for export-oriented industries to fight the impact of coronavirus on the
country’s economy.
The owners or management of those industries could take loan from that fund
and thus could disburse the salaries of their employees and workers for the
three months (April, May and June of this year).
According to the circular, the central bank will provide the loans without
interest as per the demand of banks, but banks can take 2 percent one-time
service charge for bearing their administrative cost.
Export-oriented industries, which export minimum 80 per cent of its total
production, will be eligible for the government-announced financial stimulus
fund.
If anyone will not pay the loan installment in time, the loan will become
classified as per the conventional rules and 2 percent interest will have to
pay on the outstanding installments.