PM announces Tk 5,000cr stimulus package for export-oriented industries
07:35 PM, March 25, 2020 / LAST MODIFIED: 08:39 PM, March 25, 2020

Impact of coronavirus: PM announces Tk 5,000cr stimulus package for export-oriented industries

Can only be disbursed in the form of wages for workers; none will be considered a loan defaulter till June

Prime Minister Sheikh Hasina today announced a bailout/stimulus package of Tk 5,000 crore for export-oriented industries to fight the impact of coronavirus on the country's economy.

In a televised speech to the nation, the premier said the money from the package could only be disbursed in the form of salaries and wages for employees and workers of the industries.

Besides, Bangladesh Bank has undertaken a business-friendly initiative, announcing that no one will be considered a loan defaulter till June.

She also warned of taking stern action against anyone spreading rumour.

In her speech, the PM also laid out several other measures to tackle the virus' spread in the country. Some of those are:

-- Passenger trains, water vessels and domestic flights have been suspended from last night.

-- There is no shortage of essential goods at markets.

-- Bangladesh Bank will keep its operations running in a limited way.

-- The timeline for realising export earnings has been extended to six months from two months.

-- Similarly, timeline for meeting import expenses has been increased to six months from four months.

-- The limit of financial transaction via mobile banking has been increased.

-- Accommodation with employment opportunities for one lakh people have been created in Bhashanchar. If anyone wishes to move there, the government will assist.

-- The government's VGD, BGF and selling rice at Tk 10 per kg programmes will continue. Similarly, medicine and healthcare service are being provided at free of cost.

Sheikh Hasina urged the expatriates who returned from coronavirus-hit countries to follow government directives accordingly, including remaining in home quarantine and self-isolation.

"Stay in isolation for 14 days only. It is essential to follow the directives to save lives of your family members, neighbours, locals and overall the countrymen."

"Do not leave home unless it's an emergency."

Sheikh Hasina requested Muslims to offer prayers and followers of other faiths to perform religious activities at home for the time being.

She reiterated that the countryman should follow health advises and stay at home in order to be safe and healthy.

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