Al Amin :
The government had announced 21 stimulus packages worth Tk 1,21,353 crore aiming at recovering from losses of the ongoing Covid-19 pandemic.
But Tk 50,958 crore, 42 per cent of the total amount, of the packages has still remained undisbursed.
The deadline of disbursement of loans from packages was October, 2020. Latter, the Bangladesh Bank extended the deadline till the last December 31.
Only Tk 70,396 crore of the packages has been disbursed till the extended deadline, according to a report of the Finance Division under the Finance Ministry.
The report showed that a special package worth Tk 5,000 crore was announced to pay salaries and allowances to the workers in the export-oriented garment sector.
Of the package, Tk 4935.19 crore has been disbursed against the 1992 garment factories of the country. The entrepreneurs of the sector will have to pay 2 per cent service charge to repay the loans.
Besides, Tk 28,338 crore out of a package of Tk 40,000 crore have given against 2,549 businesses as working capital in industry and service sector and the rest Tk 11,662 crore is still undisbursed.
A commercial bank is lending the entrepreneurs from this fund at the rate of 9 per cent interest. Of the interest, the borrower will pay 4.5 per cent and the government will subsidize the remaining 4.5 per cent.
On the other hand, only Tk 10,825.28 crore out of a package of Tk 30,000 crore has been disbursed till the last December for the Cottage, Micro, Small and Medium Entrepreneurs (CMSMEs) sector and the rest Tk 19,174.72 crore is still undisbursed. 76 banks and non-bank financial institutions of the country are lending from the fund at 9 per cent interest.
Tk 12,750 crore was allocated for the Export Development Fund (EDF) to help export sector but Tk 10,500 crore was disbursed till the last December. Bangladesh Bank reduced the interest rate and fixed at 1.75 per cent. Some 56 banks are lending the loans in the sector.
Meanwhile, Tk 4,878.19 crore out of allocated Tk 5,000 crore for the pre-shipment credit refinancing scheme is yet to be disbursed. Only Tk 121.81 crore has been distributed in the sector till the last December. Bangladesh Bank is financing in the sector at the maximum interest rate six per cent.
Doctors-nurses and paramedics engaged in direct care of patients infected with coronavirus were declared as honorary incentives equal to two months’ basic salaries. Tk 100 crore was allocated in the sector but no money is yet to be distributed.
Besides, Tk 750 crore was allocated as compensation for the field level government officials, who died during the Covid-19 pandemic. But only Tk 25 crore was distributed among the family members of the late officials so far.
On the other hand, Tk 2500 crore was announced as food aid for the laid off workers but Tk 1068 crore has been disbursed till the last December and another Tk 1432 crore is still undistributed.
Outside the social safety net programme, a package of Tk 1,258 crore was announced for the victims of the coronavirus but only Tk 378.42 crore has been distributed so far.
The government announced packages of Tk 3,200 crore for creating employment for the returnee expatriate workers and skilled youths but only Tk 2000 crore has been distributed so far.
Tk 1,214 crore out of a package of Tk 2,130 crore under the housing programme for the homeless people was disbursed till the December.
Subsidies for fertilizers and seeds have increased to Tk 9,500 crore. Of the amount, only Tk 1,311 crore was distributed till the December.
Besides, the central bank has announced a scheme worth Tk 3,370 crore for the small traders but only Tk 1129.21 crore has been distributed so far.
Ahsan H Mansur, Executive Director of Policy Research Institute (PRI), said, “A stagnant situation is prevailing in the country’s economy. So, it was better to supply money for the people who have lost their jobs during the pandemic.”
“The economy would have been much stronger if the incentive packages had been disbursed properly. As per the current situation, SME sector should be given more priority to boost the economy,” he added
