Economic Reporter :
Bangladesh Jute Mills Corporation (BJMC) has been given a conditional loan package of Tk 260 crore to purchase raw jutes for the state-run jute mills.
The finance ministry approved the loan on July 31 setting some conditions for utilization of the money and said the BJMC would not be able to spend the money for other purposes except the purchase of raw jute for the mills, said a BJMC press release.
In the loan disbursement letter, the finance ministry said the amount will be considered as loan from the government to BJMC which will have to be repaid within the next five years in six-month installment basis. The interest rate is 5 percent. The finance division will soon sign a loan agreement with the BJMC in this regard.
Bangladesh Jute Mills Corporation (BJMC) has been given a conditional loan package of Tk 260 crore to purchase raw jutes for the state-run jute mills.
The finance ministry approved the loan on July 31 setting some conditions for utilization of the money and said the BJMC would not be able to spend the money for other purposes except the purchase of raw jute for the mills, said a BJMC press release.
In the loan disbursement letter, the finance ministry said the amount will be considered as loan from the government to BJMC which will have to be repaid within the next five years in six-month installment basis. The interest rate is 5 percent. The finance division will soon sign a loan agreement with the BJMC in this regard.
