PM’s stimulus package to save lots of economy, livelihood: FBCCI
The Federation of Bangladesh Chamber of Commerce and Industry (FBCCI) on Sunday welcomed the stimulus package of Tk 72,750 crore to greatly help mitigate the impact of coronavirus on the national economy.
In an instant note to media after the package was announced, FBCCI President Sheikh Fazle Fahim said the package is a “targeted and focused” one.
He said the stimulus package would help all of the sectors.
“This stimulus package will be utilised in a targeted and focused way in micro, small, medium and larger enterprises, and in agriculture, manufacturing and service sectors. Via an efficient implementation of the package, the economy will stay stable. This stimulus package will become a catalyst to take action,” Fahim said.
The Prime Minister earlier announced a Tk 5,000 crore incentive package for paying the salaries and allowances of export-oriented industries' employees and employees. On Sunday, she announced four fresh financial stimulus packages of Tk 67,750 crore. With the new allocations, the quantity of financial assistance would stand at Tk 72,750 crore, which is nearly 2.52 percent of GDP.
Sheikh Fahim thanked the Prime Minister for this courageous move and appreciated the program for increasing the government spending beneath the announced programme.
“The stimulus package envisages higher government spending in the context of current downtrend in exports and consumer spending. It has been designed this way so that the economy can sustain at a pace it is going now,” he said.
Fahim said the plans also focused on the workers’ livelihood and their food security.
“If a worker becomes unemployed and would go to his village despite declared incentives, that one person will get salary, allowances and food from the federal government for six months. That is a very focused measure. But the basic of the announced package is that it will create a context in which unemployment will be discouraged,” he said.
Fahim said the stimulus package will help the country go strong despite the challenging time the country is certainly going through now.
“I strongly believe through the structured implementation of the announced measures and a more robust public-private partnership, the economy will fare well,” he said. “We will overcome,” he said.
