Bangladesh could extend again the deadline for repaying loans disbursed from last year’s coronavirus incentive package for the export sector.
Finance Minister AHM Mustafa Kamal, reportedly, maintained this recently while addressing the pressmen after a virtual meeting of the cabinet committee on public procurement even as he, reportedly, underlined the central bank (Bangladesh Bank) will issue a circular in this regard by 30 June.
It may be mentioned here that Bangladesh Government announced the stimulus package to help export-oriented industries, including apparel manufacturers, pay workers’ wages for three months during the 66-day general holiday— the holiday was announced to tackle the COVID-19 pandemic— while the banks have, reportedly, disbursed around Taka 5,000 crore from the Government’s own funds at a 2 per cent service charge and another Taka 5,000 crore from the stimulus package for large industries and the service sector even as the borrowers had to start repaying loans in 18 instalments as the six-month grace period ended in December last.
Following request of garment makers, the grace period was extended till 30 June even as the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) and the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) have recently requested the Finance Ministry to extend the grace period till December, considering the fallouts of the pandemic even as the Finance Minister, reportedly, underlined that no decision had yet been made on the appeal although he had talked to the Bangladesh Bank Governor about it.
