Tk 1,21,353Cr Stimulus Packages: 39pc disbursed in six months
After the government announced 21 stimulus packages involving more than Tk 1,21,000 crore to tackle the pandemic fallout, 39.23 percent of the total amount or Tk 47,615 crore was disbursed till October 31, according to a report of the finance ministry.
A total of 3.54 crore people have received assistance from various stimulus-cash-food support packages over the period, said the report released at a programme at the capital’s Osmani Memorial Hall on Thursday.
The report also said 76 lakh firms, organisations, entrepreneurs, and other beneficiaries got loan facilities under the economic bailout scheme as of October 31.
The finance ministry organised the programme to evaluate the progress of the scheme undertaken after the Covid-19 outbreak struck the country in March. The programme was joined by noted economists and members of development partners, local think-tanks and other stakeholders, among others.
The bailout packages were announced at different times after March. The combined support of more than Tk 1,21,000 crore accounts for 4.34 percent of the country’s Gross Domestic Product (GDP).
“The marginalised people in the country did not face any shortage of food because of the cash and food aid provided under the stimulus scheme. The possibility that these people would slide below the poverty line once again has also been reduced,” said the progress report prepared by the finance division under the ministry.
The disbursement of the funds also had a positive impact on the business sector’s ongoing recovery process and helped retain employment of tens of thousands of people working under different sectors, it said.
The support has been provided in the form of low-cost loans to micro, small, medium, large industries, service-providers and as food security, social protection and special allowances after the pandemic-induced shutdown paralysed the economy, drying up millions of jobs and creating the new poor.
The implementation of the scheme, however, has not been the same in all sectors.
For example, fund disbursement rate for the export-oriented and large industries has been quick, but the progress has been slow for small and medium enterprises and farm sectors.
The finance ministry divided the 21 packages in three broad categories — job retention, restoration of demand and maintenance of supply chain; employment creation and revitalising rural economy; and enhancing social security and food supply.
