Govt approves 2 more stimulus packages worth Tk 27b
The government approved two more stimulus packages worth Taka 27 billion to infuse dynamism into cottage, micro and medium industry to offset COVID-19 shock, improve rural marginal people’s livelihood and expand social safety nets for extreme poor, aged-people and widows, reports BSS.
Prime minister Sheikh Hasina has approved these two stimulus packages while implementation of the packages will start shortly, said a finance ministry press release on Sunday.
The release said with the addition of two latest packages, the total number of stimulus packages now stood at 23 with an overall outlay of Taka 1.24 trillion which is 4.44 per cent of GDP.
The size of the freshly approved first stimulus package is Taka 15 billion and out of this amount, Taka 3 billion will be given to the SME Foundation for expanding its operations meant for the cottage and SMEs alongside facilitating the female entrepreneurs.
Besides, Taka 1 billion will be provided to BSCIC, Taka 500 million to Joyeeta Foundation, Taka 500 million to the NGO Foundation to undertake various programmes to improve the livelihood of marginal people, Taka 3 billion to Social Development Foundation, Taka 3 billion to Palli Daridro Bimochon Foundation, Taka 1 billion to Small Farmer Development Foundation, and Taka 3 billion to Bangladesh Rural Development Board.
The size of the fresh second stimulus package is Taka 12 billion and it will be spent for bringing the poor people, widows and husband-abandoned women of some 150 upazilas under the government allowances in the next fiscal year (FY22).
Commenting on the two latest stimulus packages, finance minister AHM Mustafa Kamal said that the objectives of these two stimulus packages, approved by the prime minister, would surely be achieved.
“With these two stimulus packages, the lagging behind communities will be benefited immensely side by side dynamism will be infused in our economy.” he added.
The finance division has recently organized three view-exchange meetings on the overall aspects of stimulus packages and economic recovery in the wake of COVID-19.
These meetings suggested for expanding the coverage of credit through the various government and semi government agencies related to cottage, SMEs, alongside the banking system to infuse more dynamism in the rural economy to deal with the COVID-19 situation.
Besides, the participants in the meeting also advocated for taking more steps for developing women entrepreneurship, improving the livelihood of the marginal people in the rural areas to further alleviate poverty and thus expanding the social safety nets for the extreme poor families.
High government officials, business leaders, representatives from the banks, financial institutions, development partners and agencies, research organisations, stakeholders of various sectors and media personnel attended those meetings.