The government has taken massive steps to keep the country’s economy alive with continuation of usual flow of remittance and export earnings in the face of a second wave of the Covid-19 pandemic.
As part of the move, a series of meetings has been started on Thursday organized by the finance ministry.
Another two more dialogues on the incentive package will be held in the first week of December.
The finance ministry officials said Bangladesh will be able to successfully deal with the second wave of corona.
All kinds of preparations are being made for this, they added.
Prime Minister Sheikh Hasina has already announced incentive packages worth Tk 1,20,153 crore in 21 sectors.
Strategies have been formulated for speedy implementation of this package. The new strategy will outline the country's overall economy from the second wave of the Corona.
Corona infection has increased again in the second phase in the world including in Bangladesh.
In this situation, the main sector of the economy has created concerns about export and remittances.
At the same time, there is a risk that unemployment will befall again. Therefore, keeping the flow of export income and remittances normal and maintaining employment is being given utmost importance.
In addition, there will be initiatives to bring the overall demand and supply system of the economy back to normal.
Emphasis will also be placed on job creation and revival of the rural economy and expansion of social security tax coverage and ensuring food security.
Besides, the government is going to give many facilities through the implementation of incentive packages including supporting more on export oriented garments, provision of services to corona patients, partial interest waiver of defaulted loans of commercial banks, credit guarantee scheme of SME sector, pre-shipment credit finance for exporters, increase in production and agricultural subsidies.
The high level delegation of the government is going to sit again with all the concerned domestic and foreign parties for the speedy implementation of the incentive package.
Commerce Minister Tipu Munshi attended as the chief guest at the first session of a dialogue series on “Stimulus Package for Sustainable and Inclusive Recovery from COVID-19 Fallout in Bangladesh,” organized by the Finance Ministry at the Osmani Memorial Auditorium in Dhaka on Thursday.
Prime Minister’s Principal Secretary Dr Ahmad Kaikaus attended the dialogue as the special guest while Finance Division Senior Secretary Abdur Rouf Talukder delivered the keynote presentation on the occasion.
Dr Naznin Ahmed, Senior Fellow of Bangladesh Institute of Development Studies (BIDS), Dr Rubana Huq, President of Bangladesh Garment Manufacturers and Exporters Association (BGMEA), Dr Selim Raihan Executive Director of SANEM, Mercy Miyang Tembon, World Bank’s Country Director for Bangladesh and Bhutan, and Ito Naoki Japanese Ambassador to Bangladesh were the discussants at the dialogue.
The theme of the first session was “Job Retention, Restoration of Demand and Maintaining the Supply Chain.”
Tipu Munshi said on the occasion, the country's coronavirus damage has been reduced due to the government's timely decision and efficient management.
“Ministries and organisations have strengthened their coordinated efforts to mitigate the impact of COVID-19. The second wave of the COVID-19 has come. We will have to provide more coordinated efforts to tackle the impact,” he said.
Naznin Ahmed underscored the need for increasing the allocation of Palli Sanchay Bank, Palli Karma-Sahayak Foundation (PKSF) and such kinds of organisations so that marginalized people can take benefits from the government’s stimulus packages.
“Government allocated Taka 50 billion to Palli Sanchay Bank under the Stimulus Package. So far, Taka 25 billion has been disbursed. This money went to around 44,000 people. They are marginalized. The loan size is around Taka 48,000 per beneficiary. They are utilizing the money for different income generating activities, including cattle rearing, fishing, poultry and tree plantation. This is not a large amount of money, but this is helping the marginalized people,” she added.
Rubana Huq said if the RMG sector can survive up to June, 2021, it can go forward and will have no need for any reward.
She sought a little bit of help up to June, 2021 for mitigating the impact of COVID-19 and further taking forward the country’s key export products.
However, another two more dialogues on the incentive package will be held in the first week of December.
The second dialogue will be held on December 3 with the theme of 'Employment and revival of rural economy'
Planning Minister MA Mannan will be the chief guest while Governor of Bangladesh Bank, Fazle Kabir will be the special guest at the programme.
The third and final exchange of views meeting will be held on December 10.
The theme of the meeting will be "Expansion of Social Security and Ensuring Food Security".
Agriculture Minister Dr Abdur Razzak will be the chief guest at the meeting.
On the other hand, the Cabinet Secretary will be the special guest.
Three meetings have been organized at the Osmani Memorial Auditorium in the capital.
Prominent economists, researchers and heads of mission of development partner multinational organizations in Dhaka will be present at the meetings.