The export sector received thousands of crores of incentives before Eid
Under the government's export policy 2018-2021, this loan is being provided at a very attractive interest rate to speed up the highest priority sector i.e. export-oriented industries. As the fund is revolving, it will be possible to give loans to more customers from this fund.
The central bank has set up a refinancing fund of Rs 1,000 crore from its own funds to provide loan assistance for modernization of technology of export-oriented industries.
The loan interest rate of this fund is 5 to 6 percent. This loan will be disbursed under 11 types of initiatives of the industrial establishments of the highest priority sectors and special developmental 32 sectors mentioned in the Export Policy 2018-21.
The initiatives are export-oriented industries' primary production, renewable energy, business process reengineering or business process automation, operations management, waste, air, heat management, work environment (fire management, health care) management, water usage management, human resource management and accounting, inventory management. , Development of machinery and technology related to marketing, sales and security management.
On Sunday, the Sustainable Finance Department of Bangladesh Bank issued the policy regarding the loan distribution of this fund.
General manager of the department, Khandkar Morshed Millat, told NewsBangla, "Under the government's export policy 2018-2021, this loan is being provided at a very attractive interest rate to speed up the highest priority sector, i.e. export-oriented industries." As the fund is revolving, it will be possible to give loans to more customers from this fund.
The request for cash assistance was made to the government on Thursday in a letter signed by the previous BKMEA president AKM Salim Osman. It is said that if financial assistance is not received, the export sector may be in extreme trouble with the payment of salary and bonus to the workers on Eid.
Bangladesh Bank has been instructed by the Ministry of Finance and Comptroller General of Accounts to clear the amount of cash assistance. BGMEA has asked all industries to contact their respective lien banks to receive cash assistance.
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