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Govt Providing Tk2,000cr to Commercial Banks As Subsidy: PM

Prime Minister Sheik Hasina announced on Sunday that the government would provide Tk 2,000 crore to commercial banks as a subsidy so that they can relinquish this money as interest from around 1.38 crore borrowers.

The announcement came as the Prime Minister published the results of the SSC and the equivalent exams from her official residence in Ganobhaban by videoconferencing.

She also stated that the government had recently suspended interest on bank loans for two months and that the value of the deferred 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 shops and corporate organizations have been closed down and that the government is now slowly reopening them.

"Some of the businesses have lent from the banks, so they did not operate their company properly. We've introduced all kinds of steps and they don't overburden themselves with 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 proportionately distributed among the borrowers. "The borrowers will no longer have to repay this money, we 're releasing it from this portion (of the money)," she said.

She also said that this government decision will also benefit some 1,38 crore borrowers.

"Their business and trade were shut down for COVID-19, we are giving them scope to start their activities again," she said.

Source: UNB

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