Stimulus package for the banks

Prime minister Sheikh Hasina on announced a new stimulus package to waive Tk 2,000 crore bank interest of the people affected badly by the nationwide shutdown enforced to contain the coronavirus pandemic.

The premier made the announcement while formally publishing the SSC and other equivalent exam results through a videoconference from her official Ganabhaban residence in Dhaka. She said the government earlier suspended the payment of interest of the loans for two months which the people took from the (commercial) banks for business purpose.

After Bangladesh was hit by COVID-19, the government led by Prime minister Sheikh Hasina, started working out effective policies. She is assisted by her advisors including the Private Sector Industry and Investment Adviser Salman F Rahman.

‘Today, we’re declaring a new incentive package which is the 19th. Under the package, the borrowers need not to repay Tk 2,000 crore interest of the credits which they took from the banks for doing business,’ she said. Hasina added, ‘The government will provide the interest amounting to Tk 2,000 crore to the banks as a subsidy and it will directly benefit nearly 1.38 crore loan recipients.’

The premier said with the announcement of this new incentive package of Tk 2,000 crore, the total amount of 19 stimulus packages had stood at Tk 1,03,117 crore (equivalent to $ 12.13 billion) which is 3.7 per cent of total GDP.

Regarding relaxation of the nationwide shutdown, the prime minister said everything was closed for a long time, but a country could not run in such a way. ‘The other countries of the world have been opening everything including their economy and we’re going to adopt that policy.’

The PM and her advisors including Salman F Rahman are determined to bring positive changes to the banking sector and are hopeful to tackle the COVID-19 efficiently.

Comments

About Nasir Group

Nasir Group is one of the largest industrial conglomerates in Bangladesh. The industries include industrial glass, tobacco, printing and packages, light engineering, melamine. It is one of the leading industries in glass manufacturing sector of the country. The company started its journey in 1977. Now this group expands in every industrial sectors of Bangladesh like tobacco, melamine, printing and packaging and footwear. Recently it started producing energy saving light bulbs. Nasir group has a great role in socio-economic development of the country. Dominance in Glass Sector Glass is one of the products of Nasir Group of Industry. Nasir group has a vital role to make Bangladesh self-sufficient in glass sector. This company provides a large portion of glasses to meet country’s demand. Nasir group started float glass production in 2005. The company built its glass manufacturing factory in Gazipur at a cost of Tk.300 crore. Nasir Glass now holds more than 40 percent of the total mark...

After Beximco Group, Square Group and Pran Group, PHP Family is coming up

Along with Beximco Group, Square Group, Pran Group, PHP Family is contributing immensely to the economic progress of Bangladesh. Beximco Group and Square Group are the top private sector players but companies like PHP Family are coming up. Sufi Mohammed Mizanur Rahman, an ex banker, established PHP Group which was later re-named as PHS Family. PHP Float Glass is a concern of PHP group and is the pioneer of glass industries in the country. Now PHP float glass industry is the largest glass producer. Ample success in Glass sector along with other indusial sector, PHP group is contributing much to the development of the country. PHP float glass industry limited is Chittagong based sister concern of PHP group. Built on 30-acres of land, with a total investment of Tk 300 crore, the PHP Float Glass Industry at Barabkunda of Sitakunda in Chittagong launched its commercial production in 2005.It produces various types of glass according to local demands. It produces clear-glass sheet of 2MM...

Bangladesh's fashion industry

Fashion is a popular style or practice, especially in clothing, footwear, accessories and makeup. Fashion is a distinctive and often habitual trend in the style in which a person dresses up. Fashion industry is the product of modern age. In the past tailors and dressmakers were undoubtedly responsible for the innovation of fashion and changing fashion as well. Actually fashion depends on taste of people. For this reason fashion varies from region to region. Before 20th century most of the dresses were handmade. At the beginning of 20th century fashion magazines were more responsible for adopting and changing fashion. But at present media, social network, fashion websites play the most important role for changing fashion. Though the people of Bangladesh have a unique fashion of their own, they also follow the fashion of many countries. For this there is huge opportunity for the fashion industry to grow. As a result, depending on the taste of Bangladeshi people a huge numbe...

Bangladesh's Corporate World

Search This Blog