A move is underway to provide Tk 5.0 billion worth of stimulus to state-owned Palli Sanchay Bank (PSB) to help meet its liquidity shortfall, sources said.
To this end, an inter-ministerial meeting has been held at the Financial Institutions Division (FID) recently.
The meeting was told that the finance minister gave his consent to a proposal for providing Tk 5.0 billion stimulus to help boost income of the state-owned bank through enhancing its liquidity in the wake of the ongoing pandemic.
On May 17, the bank wrote a letter to the FID in this regard. The FID had also requested finance division to take necessary steps in this regard.
The funds would be needed for the next fiscal year to meet its operating cost including paying wage and allowance to its staff.
Currently, there are 10,338 staffers in the 'Ekti Bari, Ekti Khamar' project. Of them, some 5,360 were transferred to PSB from the project on June 30, 2016.
According to the existing organogram of the bank, it would be possible to appoint 1,555 people from the rest of 4,978.
Besides, the organogram should be amended to appoint 3,423 people.
Presently, a process is underway to amend the existing organogram to create the vacancies.
The number of staffers would stand at 12,248 in the next fiscal year if more people are transferred. So, some Tk 5.44 billion would be required to pay annual wage and allowance, the letter mentioned.
The authorized capital of the bank is Tk 10 billion and its paid-up capital is Tk 2.0 billion, according to the bank data.
The main goal of the bank is to eradicate poverty from the country. The poor rural people who will deposit money with the bank will be able to become entrepreneurs, sources said.
