The government has decided in principle to provide businessmen with some incentives so they could recover to some extent the business losses due to the prolonged political unrest.
The incentives would not, however, be given to all as it would be decided case to case basis.
“The rate of cash subsidy would be increased, but it would not be on a wholesale basis. The finance ministry would take a decision,” an official told Dhaka Tribune, after a meeting at the finance ministry yesterday.
Finance Minister AMA Muhith chaired the meeting aimed at considering the demands for the incentives by trade bodies of the country.
Bangladesh Bank Governor Atiur Rahman, Commerce Secretary Mahbub Ahmed and managing directors of four state-owned commercial banks were present.
“We will sit with the RMG leaders next week to discuss the issue as they would be defaulters if it is not done before December 31,” Muhith told reporters after the meeting.
He said the central bank would consider the eligibility for availing of the privilege on cases to case basis.
There will be no change in existing structure and guideline regarding reschedule of loan and classification.
A notification on the issue would be declared in next week, but the initiatives would be effective during regime of next government, said the minister.
He said Bangladesh Bank will send list of companies to the respective banks on loan classification.
Earlier, Bangladesh Garment manufacturers and Exporters Association (BGMEA) demanded fund support through special PC (packing credit) and “Baisalam” for four months from November 13 to February 14 to pay wages as they are facing fund shortage due to the ongoing political unrest that caused disruption in shipment.
The apparel makers also demanded waiver of charges being imposed by the Chittagong Port Authority due to congestion in the container terminal.
They urged the government not to classify any textile, garments and backward linkage industry for next two years from the Q4 of 2013.
It also appealed blocking the term loan, project loan, loan against trustee receipt, Murabah Post Import (MPI) and installment without any interest for next two years.