Tk 5,000 crore package announced for agriculture
April 12th, 2020 at 1:35 pm
Tk 5,000 crore package announced for agriculture

Staff Correspondent :

Dhaka – The government has announced yet another stimulus package to overcome the loses being incurred at the agriculture sector caused by shutdown over the novel coronavirus pandemic.

Prime Minister Sheikh Hasina on Sunday announced the 5,000 crore taka stimulus package for agriculture sector to boost the crop production.

“We’re going to undertake a new scheme of Taka 5,000 crore with maximum five percent interest rate to help small and medium level farmers to raise food production,” the prime minister said.

She was addressing officials of two southern administrative divisions- Khulna and Barishal – to review the situation through video conferencing as her government announced closure of non-essential offices to contain the spread of the Covid-19.

Bangladesh Bank will formulate the refinancing scheme of amount to be disbursed as working capital in the agriculture sector, fixing the maximum interest rate at client level at five percent.

“The rural small and medium farmers will use the money in producing agriculture, flower, fruits, fish, poultry etc,” the prime minister said

She also announced allocation of an increased amount of 9,000 crore taka as a subsidy in fertiliser in the next budget as part of government strategy to minimize impact of the deadly virus on economy enhancing yield.

Hasina declared an allocation of 200 crore taka for harvesting and mechanisation of agriculture and 150 crore taka for seeds and seedlings distribution among affected farmers so that they can continue agriculture production.

She said the nation now await start of boro harvesting soon while her government would procure extra 200,000 tonnes of paddy to ensure fair price for the producers.