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The tsar will not receive help from millions of rupees.
In addition to this, latent exporters will be able to obtain working capital loans from the Rs 20 billion incentive package established for SMEs, with which they will be able to pay the wages and benefits of workers and employees.
The Finance Department of the Ministry of Finance gave this opinion in a letter to the Bank of Bangladesh on Sunday. In addition, he said that companies that export more than 80 percent of their products directly will be able to borrow from the Rs 5 billion fund just to pay the wages and allowances of workers and employees subject to their LC or LC examination.
Even after the announcement of government financial support, the owners of the garment industry began to announce the layoff of the factory on a massive scale. Workers who are less than one year old will not receive any wages during the layoff period. Others will receive only half the basic salary and rent. Do not receive any other allowance. In the current situation, interested people think that the government has made that decision to stop the firing of the factory.
In her speech to the nation on March 25, Prime Minister Sheikh Hasina announced a Rs 5 billion incentive package to pay wages to workers in export-oriented industries. Later on April 5, the Prime Minister announced the formation of a Rs 6.75 billion fund in four new packages to combat the adverse effects of the coronavirus on the economy.
The Bank of Bangladesh issued a policy on April 2 after the finance ministry led the formation of a Rs 5 billion fund. He said the operating factory would receive a loan from the fund to pay workers during April, May and June. The factories that paid the workers’ regular wages in December, January, and February will be considered operating companies. To obtain the loan, you must have export activities during those three months. Bangladesh Bank will not charge any interest on the loan. However, commercial banks may charge up to 2 percent. Banks will pay this loan to the Bank of Bangladesh within 2 years. For this, the company will have a break in the payment of the loan during the first 6 months and will have to pay the money in 18 installments in the next 18 months. Under the policy, the bank will send the wages directly to the worker’s bank account or mobile bank (MFS).
Bangladesh Bank later said in another circular that the salaries of officials could not be paid in any way with the Rs 5 billion fund established to pay the salaries of active export-oriented factories. As the problem was not clear in the previous policy, the central bank issued this directive on April 8. However, in the new opinion of the Finance Ministry given to Bangladesh Bank yesterday, the opinion has been given to pay the wages of the workers as well as the employees of the fund.
Neither the BGMEA nor the BKMEA, the two organizations of clothing owners, immediately agreed to comment on the new opinion of the finance ministry. However, on condition of anonymity, one leader said one obstacle after another is being created. If the new directive of the Ministry of Finance is implemented, there will be fear that workers will not receive wages. Because, 80-90 percent of garment factories have already been declared laid off.
Prothom Alo was told by several finance ministry officials on condition of anonymity that the opinion was sent to the Bank of Bangladesh on Sunday. They hope that Bangladesh Bank will take the necessary steps in this regard soon. On the other hand, Bank of Bangladesh spokesman Sirajul Islam said he was unaware of the matter.
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