FBCCI: Stimulus packages targeted and focused

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FBCCI chief lauds prime minister's plans to increase government spending 

Describing the group of stimulus packages announced by the government as targeted and focused, Bangladesh's top trade body has said that it could cover all of the sectors.

In a media note, the Federation of Bangladesh Chambers of Commerce and Industries (FBCCI) said that the plans also focused on livelihoods and food security.

Prime Minister Sheikh Hasina announced a Tk72,750 crore stimulus package on Sunday to greatly help mitigate the impact of cronoavirus on the Bangladeshi economy.

She had earlier announced a Tk 5,000 crore incentive package for paying the salaries and allowances of export-oriented industries' personnel and employees.  

At a televised media briefing on Sunday, she announced four new financial packages of Tk 67,750 crore. 

“This stimulus package will be utilized in a targeted and focused way in micro, small, medium and large enterprises, and in agriculture, manufacturing and service sectors. Through efficient implementation of the packages the economy will remain stable. It will become a catalyst to take action,” the FBCCI statement quoted its President Sheikh Fazle Fahim.

The FBCCI chief thanked the prime minister for the "courageous move" and lauded her plans for increasing government spending.

“The stimulus package envisages higher government spending in the context of current downtrend in exports and consumer spending. It's been designed this way to ensure that the economy can sustain at a pace it is going now,” he said in the statement.

The plans also focus on the workers’ livelihoods and their food security, said the business enterprise leader.

“If an employee becomes unemployed and would go to his village despite declared incentives, that particular person are certain to get salary, allowances and food from the government for six months. That is a very focused measure. But the basic of the announced package is that it will create a context where unemployment will be discouraged,” he said.

The stimulus packages can help the united states go strong regardless of the challenging times the country is certainly going through now, in line with the FBCCI president.

“I strongly believe through structured implementation of the announced measures and a more powerful public-private partnership, the economy will fare well", Fahim said.
Source: https://www.dhakatribune.com

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