Home loan ceiling for govt employees may be revised
Sunday, 30 December 2007
Shakhawat Hossain
The caretaker government is moving ahead with an initiative to raise the ceiling of housing loan for its officials and employees, sources said.
It is considering proposals of the ministry of establishment actively as such increase in the loan ceiling will help the government combat corruption in public offices.
The establishment ministry that has already sent the proposal to the ministry of finance (MoF) for approval said it is imperative to revise the ceiling to prevent corruption among the public officials and employees.
For the wellbeing of the public officials and employees, the present caretaker administration formed a committee and it has already received recommendations on fixation of special financial packages.
The move also aims to compensate the officials and employees for the existing high inflation.
According to the establishment ministry, the existing housing loan ceiling is Tk 120,000, fixed more than a decade before.
The ministry now proposes Tk 3.2 million as housing loan ceiling for top category after dividing the existing 20 pay slabs of the public officials and employees into four.
For the second and third categories, the proposed ceilings are Tk 2.4 million and Tk 2.0 million respectively. The ceiling of last category has been proposed at Tk 1.2 million
Sources said a meeting of the MoF is scheduled to be held Monday next to review the proposals.
The MoF meeting will also discuss mobilisation of fund, fixation of interest rate and criteria for releasing loan as proposed by the establishment ministry.
The housing loan ceiling was raised to existing Tk 120,000 in 1996 from Tk 80,000 for all officials and employees irrespective of their ranks and pay scales.
The meeting will also focus on the central bank's existing policy on housing loan and its interest rate.
The caretaker government is moving ahead with an initiative to raise the ceiling of housing loan for its officials and employees, sources said.
It is considering proposals of the ministry of establishment actively as such increase in the loan ceiling will help the government combat corruption in public offices.
The establishment ministry that has already sent the proposal to the ministry of finance (MoF) for approval said it is imperative to revise the ceiling to prevent corruption among the public officials and employees.
For the wellbeing of the public officials and employees, the present caretaker administration formed a committee and it has already received recommendations on fixation of special financial packages.
The move also aims to compensate the officials and employees for the existing high inflation.
According to the establishment ministry, the existing housing loan ceiling is Tk 120,000, fixed more than a decade before.
The ministry now proposes Tk 3.2 million as housing loan ceiling for top category after dividing the existing 20 pay slabs of the public officials and employees into four.
For the second and third categories, the proposed ceilings are Tk 2.4 million and Tk 2.0 million respectively. The ceiling of last category has been proposed at Tk 1.2 million
Sources said a meeting of the MoF is scheduled to be held Monday next to review the proposals.
The MoF meeting will also discuss mobilisation of fund, fixation of interest rate and criteria for releasing loan as proposed by the establishment ministry.
The housing loan ceiling was raised to existing Tk 120,000 in 1996 from Tk 80,000 for all officials and employees irrespective of their ranks and pay scales.
The meeting will also focus on the central bank's existing policy on housing loan and its interest rate.