Taka 20 billion for commercial banks as subsidy: PM

Prime Minister Sheikh Hasina on Sunday announced that the government will provide Tk 2,000 crore to commercial banks as subsidy so that they could waive this money as interest from around 1.38 crore persons who took loans from banks.

The announcement came while the Prime Minister was publishing the results of SSC and equivalent examinations from her official residence Ganobhaban through videoconferencing.

She also said that the government earlier suspended the interest of bank loans for two months and the amount of that suspended interest was Tk 16,549 crore.

“The rest of the interest money will have to be paid by the loan takers in the next 12 months,” she said.Sheikh Hasina said that all the shops and business entities were closed and the government is now reopening those gradually.

“Many of the business had taken loans from the banks, but they could not run their business properly. We have taken various types of initiatives so that they do not overburdened by the loans,” she said.

She said that the government in 19 packages allotted some Tk 103,117 crore which is 3.7 percent of the GDP.”I do not know any country in the world announced such huge amount (of its GDP) as stimulus package,” she said.

The Prime Minister said that the Tk 2,000 crore will be distributed among the loan takers proportionately. “The loan takers will not need to repay these money anymore, we are releasing them from this part (of money),” she added.

She also said that by this decision of the government, some 1.38 crore loan takers will be benefited.”Their business and trade were shut down for COVID-19, we are giving them scope to start their activities again,” she said.

source: UNB