Chittagong Stock Exchange Ltd (CSE) said a taskforce can be developed by the government for the proper implementation of the bail-out package, announced by the Prime Minister to stave off the economic losses, caused by the Covid-19.
"The stimulus package is an initiative which creates lots of hope. Disbursement of these loans needs harmony with situation and time. To pay the wages and salary and for the working capital needs the loans must reach the industries within shorter span of time," Asif Ibrahim, chairman of CSE said in a statement.
"At this moment both the stock-exchanges are closed. We hope the capital market is going to observe the benefits after starting its operations from implementation of this package. Finally we congratulate and sincerely thank the honorable Prime Minister for taking these timely initiatives," the CSE said.
"Under the Social Safety program reaching the low-privileged people with only 10 Taka for each kilogram of rice is a offer to really to be appreciated and realistic and a demand of time as well, since at this moment of great calamity these poor people cannot work for their food and the condition seems to prolong further."
"Moreover, we think the expanding monetary policy of this stimulus package is to increase the purchasing power of common people of the country. For this purpose we have to boost up the domestic demand so that purchasing power of people increases and the economy receives acceleration," Mr Asif Ibrahim said.
In case of industries, for large scale industries Tk thirty-thousand crore program has been declared at interest rate of 4.50 per cent and program has been declared for SMEs at 4.00 per cent.
As a result the scheduled banks are going to be advantageous; remaining 9.00 per cent interest burden is to be shared by the Government.
"Thus we hope the banks have opportunity to be benefited. EDF has been raised to Tk 5 billion from Tk 3.5 billion which will benefit the exporters, and for pre-shipping there is a scheme of Taka 50.00 billion at a rate of 7.00 per cent which is really a great initiative".
