Achievements from stimulus packages are good: Mannan
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The Bangladesh Bank and the finance division must oversee if the banks were diligent about disbursing the funds when asked about some targets not acquiring stimulus as yet, especially entrepreneurs and small businesses, he said the Bangladesh Bank and the finance division must oversee if the banks were diligent about disbursing the funds according to the guidelines set by the federal government or not.
Addressing the problem of "miss-targeting" while spending funds, Mannan as well said to spend cash, but wisely.
The minister was speaking as a chief guest at the next dialogue of a string on stimulus packages for sustainable and inclusive recovery from Covid-19 fallout in Bangladesh, titled "Occupation Creation and Revitalising Rural Market."
The government has up to now declared stimulus packages worth Tk 1.21 lakh crore, at least 4.34 % of the country's GDP.
BB Governor Fazle Kabir spoke at the dialogue as the particular guest while Standard Economics Division (GED) person in the look Commission Shamsul Alam, Asian Creation Bank (ADB) Nation Director Manmohan Parkash, FBCCI President Sheikh Fazle Fahim, Distinguished fellow of CPD Mustafizur Rahman, SME Basis Chairperson M Masudur Rahman spoke as panel discussants.
Both the BB and the banking sector had been working relentlessly to disburse the stimulus packages regularly, Kabir said.
Regarding the doing work capital bank loan of Tk 20,000 crore meant for the SME and cottage industrial sectors, he informed that so far, Tk 8,218 crore has been unveiled out of that volume with a disbursement fee of 41.09 per cent.
He likewise said that the timeframe for classification of loans has been extended till December to ensure that the mark for disbursement of loans could possibly be fulfilled by this time around.
Financing Division Senior Secretary AbdurRoufTalukder said that 56-57 % of the plans have so far been disbursed.
He also mentioned that implementation of some of these packages, like for real estate businesses, were taking time.
Mobilising more internal assets through broadening the taxes base, attracting more international direct investment, official production assistance, budget assist, continue supporting export facilities, rationalize tariffs, go for signing even more free-tree areas and preferential trade acces, and also to have an instantaneous national household database had been the keys to speedy economic recovery, Alam said.
Parkash said ADB is dealing with the federal government on another $1 billion support programme, which $500 million might be allocated to the compact- and medium-sized enterprises and to ensure reference mobilisation even while another $500 million for health insurance and social protection.
The 21 stimulus deals announced by the federal government to tackle the economic fallout of the pandemic have yielded the required results up to now, said Preparation Minister MA Mannan on Thursday.
Source: https://www.dhakatribune.com
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