THE government is planning to roll out another stimulus scheme against the looming second wave of Covid-19 this winter although almost half of the Tk 1.2 lakh crore first package was not yet implemented in the past seven months. Reports said RMG sector has raised demand for new stimulus package and the government is apparently under pressure for new package. Finance Secretary on Thursday said at a seminar that the government is consulting development partners about the second package as a second wave is about to unleash to keep the economy running, reports a national daily on Friday.
Three seminars recently examined the progress of the ongoing stimulus package, the last one being held Thursday to solicit opinions of policymakers, researches and development partners about the effectiveness of first stimulus package spread under 21 sectoral packages. Banks and non-bank financial institutions have been tasked to disburse the fund. It appears that the government is planning to prepare the second stimulus package in the light of the progress achieved so far under the existing package.
It appears that the implementation of the ongoing stimulus package is facing various setbacks in almost every sub-sector. So experts have therefore rightly suggested streamlining loan disbursement process where it is not making enough progress. Like many we also believe that new stimulus package may be needed where it may be genuinely called for but existing one needs to be sufficiently used in the first place to secure quick recovery of the Covid-19 hit economy. Money alone is not the panacea of all economic ills, where more money flows, big corruption takes place. Stealing of funds and its misappropriation become irredeemable.
Analysis suggest only 41 per cent loans under stimulus package for the SME sector has been disbursed so far and efforts must be made to expedite its use. Stimulus loans for big industries were around 71 per cent until November 30. Only 55 to 56 per cent stimulus funds were so far disbursed on an average since April last. RMG sector has however utilized all allocations and demanding more.
Public money is spent with no accountability.
Three seminars recently examined the progress of the ongoing stimulus package, the last one being held Thursday to solicit opinions of policymakers, researches and development partners about the effectiveness of first stimulus package spread under 21 sectoral packages. Banks and non-bank financial institutions have been tasked to disburse the fund. It appears that the government is planning to prepare the second stimulus package in the light of the progress achieved so far under the existing package.
It appears that the implementation of the ongoing stimulus package is facing various setbacks in almost every sub-sector. So experts have therefore rightly suggested streamlining loan disbursement process where it is not making enough progress. Like many we also believe that new stimulus package may be needed where it may be genuinely called for but existing one needs to be sufficiently used in the first place to secure quick recovery of the Covid-19 hit economy. Money alone is not the panacea of all economic ills, where more money flows, big corruption takes place. Stealing of funds and its misappropriation become irredeemable.
Analysis suggest only 41 per cent loans under stimulus package for the SME sector has been disbursed so far and efforts must be made to expedite its use. Stimulus loans for big industries were around 71 per cent until November 30. Only 55 to 56 per cent stimulus funds were so far disbursed on an average since April last. RMG sector has however utilized all allocations and demanding more.
Public money is spent with no accountability.
