Bangladesh Bank (BB) on Wednesday said the export-oriented industries were not allowed to pay salaries to their factory officials from the Tk5,000 crore bailout package announced to shore up the struggling sector hard hit from the corona panedemic.
Only the workers and employees would be entitled to the rescue package, the BB said.
Besides, the Tk5,000 crore fund would be disbursed to workers and employees equally in three months–from April to June–, another BB circular said.
Workers without any national identity cards would also be given salaries and allowances on the basis of their birth certificates, elaborated a notice of the BB on the bailout package.
Loan seeking export-focused industries would mention separately deductible income tax and provident fund contributions of their workers’ salaries on the application form, said the notice.
The industries will have to submit loan applications to their respective banks immediately, then the banks concerned to place loan requirement to the central bank within April 20, says a high official of the central bank.
After receiving banks’ applications, Bangladesh Bank will approve the loan amount against three months salaries of workers and employees of the concerned industry and will provide to the respective banks in three installments– April, May and June, clarifies another BB circular.
Then the respective banks will send the money to mobile banking accounts of factory workers and employees
The BB’s Accounts and Budgeting Department will operate the bailout package.
To facilitate providing salaries and allowances from the government package, the central bank on Monday instructed all concerned entities to complete opening of mobile financial service accounts for all workers and employees of export-oriented industries and factories by April 20.
Prime Minister Sheikh Hasina on March 25 announced a bailout/stimulus package of Tk5,000 crore for export-oriented industries.
