Following the announcement by the Finance Minister of Bangladesh last Sunday that a 2.5 billion taka (approximately US$36.8 million) rescue plan would be introduced for leather export companies, the Prime Minister of Bangladesh this Sunday promised to provide a special package rescue plan for export companies. Help companies that were severely hit by the financial crisis. At present, the Bangladesh Chamber of Commerce and Industry has proposed a plan with a total amount of up to 60 billion taka (about 883 million U.S. dollars). The plan includes: providing 33-35 billion taka (approximately 485-515 million U.S. dollars) in aid to garment export companies; 14 billion taka (approximately 210 million U.S. dollars) in aid to textile export companies; the remaining funds will be invested in jute, leather, etc. Primary product export enterprises. At the same time, the government will issue long-term bonds with higher interest rates to raise funds, reduce annual development plans, cut unnecessary expenditures, reduce tax rates on primary products and intermediate products; reform the central bank’s punishment measures for companies that default on loans.
The news did not disclose the specific release time of the rescue plan, but Bangladesh’s financial adviser said that due to financial constraints, the actual rescue plan should be much lower than the plan proposed by the Bangladesh Federation of Chambers of Commerce and Industry.
