Incentive packages announced by the government to overcome the crisis created by the Covid-19 pandemic and to keep wheels of economy moving are being implemented at rapid speed.
As a result, the marginal group of people across the country and the business run by them are being benefited directly for the timely decisions of the government.
According to sources, the implementation of various aid packages to address the economic stagnation caused by the rogue virus has already started.
Talking to the beneficiaries of the sectors, including businessmen and other people concerned, it was learnt that distribution of cash assistance through the packages at the individual levels has already been implemented.
Implementation of some other packages still goes on. The Bangladesh Bank mainly is implementing the entire business assistance packages. At present, the process of implementation of this package has also gained momentum.
Abdur Rauf Talukder, Secretary of the Finance Department, in this regard said that the cash aid announced by the Prime Minister was being released step by step gradually. Bangladesh Bank is cooperating largely in this regard.
Sheikh Fazle Fahim, president of the Federation of Bangladesh Chambers of Commerce and Industries (FBCCI), the apex body of traders, said economic activities, which had almost stalled due to the Covid-19 pandemic, had resumed. For the purpose, all traders are working together.
He termed the loan assistance package programme announced by the Prime Minister very timely and said traders have benefited enormously from these packages.
Sources said the low-interest incentives of Tk 5,000 crore, which has been given to pay the salaries and allowances of the workers of export-oriented industries, has enabled the factory-owners to pay the salaries and allowances of their workers without additional pressure.
It is being given to them as loan assistance from the government. This is not a complete grant. These traders will also be able to cope with the financial losses with the financial incentives given to small and medium enterprises.
They will be able to overcome the recession and try to turn around again. In this way, farmers and exporters are getting the same benefits.
On the other hand, Prime Minister Sheikh Hasina has given financial assistances to the imam and muezzin of every mosque in the country as 'Eid gift' during the Eid-ul-Fitr. Tk 2,500 has been given to the imam and muezzin of each mosque.
Cash assistance has been distributed to 50 lakh low-income families in the country who have become unemployed during corona period. Tk 2,500 has been given to each family. The total expenditure of the government in this sector has been Tk 1,250 crore.
Tk 5,000 has been given to each of 51266 teachers from non-MPO Technical, Madrasa and Independent Ibtedai Madrasas while Tk 2,500 to each of the employees of those institutions.
The Prime Minister has provided financial assistance of Taka 16 crore 94 lakh 70,000 for the orphans of 13,929 Qawmi Madrasas. Tk 46.63 crore has been given to 80,747 teachers and 25,038 employees of non-MPO educational institutions under the Department of Secondary and Higher Education.
Besides, Tk 8,31,25,000 has been distributed as grants among 7,959 Qawmi madrasas of the country.
It may be mentioned that earlier on April 5 this year, Prime Minister Sheikh Hasina announced a financial incentive package of over Tk 72,000 crore to overcome the damages caused by the coronavirus pandemic.
Financial incentives are the financial packages or special benefits provided by the government to help speed up economic activities, trade and commerce, and reduce losses as well.
Sources said among the sector-based incentives programmes announced by the government, an incentive package of Tk 30,000 crore was announced as industrial loans.
Tk 20,000 crore was announced for small and medium enterprises and Tk 5,000 crore for the payment of salaries and allowances of export-oriented workers.
Apart from this, Tk 5,000 crore was announced for low income people and farmers, Tk 12,500 crore was announced for export development fund, Tk 5,000 crore was announced for pre-shipment loans, Tk 761 crore was announced as cash assistance to poor people, Tk 785 crore assistance was announced for the purpose of providing selling rice at Tk 10 per kg to 50 lakh families. Besides, an additional amount of Tk 400 crore has been allocated in the health sector for coronavirus control.
According to the sources, people involved in economic activities and trading, industry owners and farmers will be the beneficiaries of this incentive programmes. However, traders will benefit from most of the incentives to reduce losses due to corona pandemic. These government incentives are being provided through banking channels.
According to the Planning Commission sources, Prime Minister Sheikh Hasina has approved a major project titled 'Covid-19 Emergency Response and Pandemic Preparedness' to deal with coronavirus (Covid-19).
Under the Revised Annual Development Program (RADP) for the last fiscal year 2019-20, Tk 206.74 crore has been allocated for this project from the 'Special Needs Development Assistance' sector. The Planning Commission has set two conditions to get allocation for this project. These two conditions are that the money allocated in favor of the project should be spent in accordance with the approved structure of the approved investment project and all kinds of financial regulations should be followed in spending the money.
