PM's Tk 50b stimulus package for farmers

Prime Minister Sheikh Hasina on Sunday announced a new stimulus package of Tk 50 billion to provide financial assistance for small and medium farmers in rural areas to boost agricultural production in order to offset the impact of Covid-19, report agencies.

"Bangladesh Bank will formulate a new refinancing scheme of Tk 50 billion to pump running capital into the agricultural sector. We'll create this stimulus package only for the agricultural sector. We'll disburse money from this fund to farmers at only 5.0 per cent interest," she said.

The Prime Minister said this while delivering her introductory speech in a videoconference from her official residence Ganobhaban with government officials from 16 districts under Khulna and Barishal divisions.

The money from this fund will be disbursed among small and medium farmers, including that of poultry and dairy sector, in rural areas, she said.

Besides, the existing disbursement of loans with 4.0 per cent interest rate for spice items will continue, the Prime Minister added.

Sheikh Hasina simultaneously announced allocation of an increased amount of Tk 90 billion as a subsidy in fertiliser in the next budget as part of government strategy to minimise the impact of the deadly virus on economy by enhancing yield.

The Prime Minister also declared an allocation of Tk 2.0 billion for harvesting and mechanisation of agriculture and Tk 1.50 billion for seeds and seedlings distribution among the affected farmers so that they can continue agriculture production.

Noting that the government has already allocated Tk 1.0 billion for the Agriculture Ministry for the mechanisation of harvesting process of crops, she said the government will also allocate another Tk 1.0 billion in this regard.

She said directives have already been given to the administration and the law enforcement agencies to allow the movement of people engaged in harvesting crops and facilitate the supply chain.

Sheikh Hasina said the nation now await the start of the upcoming boro harvesting while her government would procure an extra 0.2 million tonnes of paddy, compared to the last fiscal year to ensure fair price for the growers.

Hasina asked the authorities concerned to arrange a weekly haat (makeshift market) in an open field in every area maintaining social distancing norms so that the farmers can sell their produce.

"Bangladesh is mainly an agriculture-dependent country. Our agricultural activities will have to be continued. The most important thing is that it'll have to ensure food security," she said.

Observing that the lands of the country are very fertile, she said, "If we can produce foods properly, we'll also be able to help many others (other countries). So, we'll have to continue with the production."

Sheikh Hasina warned that the plunderers of relief goods meant for disbursement among the needy people during this difficult time would not be spared.

"So far, a few reports have surfaced regarding arrests of some people on charges of misappropriating relief goods. I hope everyone involved in such misdeeds would be arrested. No mercy would be shown to them. If necessary, immediate punishment would be given to them through mobile courts," she said.

The premier said: "We are trying our best to help all, including wage earners, day labourers, small traders and the people who couldn't seek relief due to their social dignity, by reaching foods to their doorsteps as they are passing their days in hardship with no work due to the shutdown over the coronavirus pandemic."

Noting that a few incidents of relief misappropriation are hurting the nation, she said: "This is a matter of hatred. So, I request all not to indulge themselves in such misdeeds."

The premier asked the authorities concerned, particularly the local administration and law enforcement agencies, to take necessary steps to ensure that people comply with the 'stay-at-home' order and practise social distancing norms during the ongoing shutdown.

She asked the local administrations to conduct massive campaign to make the people aware about the health ministry's directives being issued from time to time.

The premier also asked the authorities concerned, including the local administration and law enforcement agencies of the 16 districts of Khulna and Barishal divisions, particularly the coronavirus-free districts, to ensure that no outsiders can enter the districts in order to check the spread of the deadly virus.

She asked the bordering districts of the divisions to ensure compulsory home quarantine of the people returning from the neighbouring country through land ports.

Sheikh Hasina asked all to take effective measures to ensure normalcy in the transportation of goods and crops.

She also asked all to take measures to facilitate transportation of agricultural workers as the season of paddy harvesting has started.

When the premier's attention was drawn that 52,000 litres of milk, out of 2,78,000 litres produced per day in Satkhira district, remained unsold, she instructed the local administration to ensure marketing and diversified use of milk.

She also asked the district administration to take effective measures to preserve shrimp and lobster in a proper manner as those could be exported later as the world is now being rattled by the lethal virus.

She asked the officials of the civil administration and health ministry and department to take special initiatives for proper hospital waste management.