Bangladesh Bank extends deadline to submit pleas for loans
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The Bangladesh Bank on Tuesday for the next time extended the deadline till May 2 for the export-oriented industries to submit application for loans to pay wages of the workers and staff of their entities.
The central bank also asked lenders to place loan requirement to the BB by May 3 according with their demand, according to a BB circular issued on the day.
On April 3, the Bangladesh Bank asked the banks to put loan requirement by April 20.
Later, the deadline was extended until April 26 due to the exporters’ plea.
‘We extended the deadline to submit application for the loan following request from the trade organisations,’ said BB executive director and spokesperson Md Serajul Islam.
Stimulus fund will be released according to the demand from the respective bank after obtaining the application from the export-oriented industries, he added.
Based on the BB circular, B-type industries (industries jointly owned by foreign and local) beneath the export processing zones, special financial zones and high-tech parks will be qualified to receive loans from the package.
On April 15, the central bank made C-type industries (local industries) beneath the export processing zones, special economic zones and high-tech parks qualified to receive loans from the package.
Several trade bodies have put on the finance ministry and the Bangladesh Bank for loans under the Tk 5,000 crore stimulus package allocated for only export-oriented industries of them costing only 2 % service charge.
As per the BB guidelines regarding the stimulus package for export-oriented industries, the owners of the industries, which is allowed to benefit from the loans, will have to repay the fund within 2 yrs, or else they'll be considered as defaulters.
On March 25, the government announced the Tk 5,000-crore stimulus package for export-oriented industries for the payment of staff wage for the month of April, May and June.
Source: https://www.newagebd.net
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