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Businesses ask for Tk 6,000cr bailout

Govt mulls 'special package' to help fight recession fallout

Star Report
The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) yesterday sought a Tk 6,000 crore rescue package to cope with the global financial meltdown.
We proposed a Tk 6,000 crore bailout package to deal with the economic recession. We have also asked the government to take initiatives to help boost the country’s economy." FBCCI President Annisul Huq told reporters after a meeting with Prime Minister Sheikh Hasina at the Prime Minister's Office (PMO).
The premier said the government would offer "special package" to save country's business sectors from any possible negative impact of the current global economic recession, reported UNB.
The leaders of the country's apex business body mentioned 17 points at the meeting and
said the rescue fund could be raised by issuing bonds, if necessary.
The delegation led by Annisul said they were facing difficulty in paying bank loan instalments because of the financial meltdown that might cause further problems and lead to closure of sick industries.
"If necessary, the prime minister should make overseas trips to protect the interests of expatriate Bangladeshi workers," they said.
Their points include maintaining good relation with neighbouring countries, announcing Sunday as weekly holiday, checking tender manipulation, making Better Business Forum and Regulatory Reforms Commission active and formation of a council for food security.
"We also proposed giving waiver for a year or two for the industries that fail to repay loans as
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a result of economic recession,' the/ BCCI president said.
"Already the ministrie: concerned haw been dircctec to identify the problems thai might be created following the world economic recession After identifying the problems government will chalk out plans and offer package programmes for the business sectors," the PM said, adds UNB.
Under the package programmes, the pnme minister said, tite business sectors will be given various facilities and incentives to keep the country’s economy vibrant increasing the flow of export and import.
About the recent cancellation of Malaysian visas for Bangladeshi workers, she said the labour and foreign ministers would go to Kuala Lumpur to find out a solution to the problem.
If necessary’, Hasina said, she herself would go to Malaysia and other countries to resolve tiie issues.
.Assuring all of taking every possible measure in this regard, she said the government, at the same time, is focusing on creating new labour markets in die foreign countries.
The PM also informed the business leaders about some of her government’s plans for the country's development.
She said the government is planning to activate Bhola power plant and special economic zone in the country's comparatively "poor and neglected” districts to expedite trade and business to create more employment opportunities.
Hasina further informed that the government has a plan to set up hydropower plants in areas abound with rivers and haors.
To popularize the solar energy system, taxes on the solar system equipment haw already been withdrawn, she added.
The prime minister suggested the industrialists to set up small power stations at their own factories saying that it will help to reduce the scarcity of electricity in the industries and even in the adjacent localities.
To increase navigability of the country's waterways, rivers will be dredged gradually, she said adding that the govem-
ment will dredge the Mongla port to fully reactivate it.
She also asked the business leaders to invest in the proposed economic zones of the country
Hasina said Bangladesh can capture huge market abroad for organic foods and vegetables. "Try to exploit the potentials.''
She thanked the businessmen for reducing the price of edible oil and requested them, if possible, to reduce the prices of other daily essentials as well.
The government attaches equal importance to both public and private sectors for overall development of the country, tire PM said.
Hasina also thanked the business leaders for their role in holding the December 29 polls in free and fair manner and tor standing beside the government to resolve the February 25-26 Pilkhana camage in a peaceful manner.
The FBCCI leaders highly praised the PM's “wise and farsighted" steps to resolve the BDR carnage quickly and peacefully.
The leaders observed that tire prime minister's February 26 speech to the nation had played an outstanding role to disarm tire "killers'’ which saved lives of many army officers and their family members.
Hasina mourned the death of "well educated and talented" army officers and civilians in the BDR camage.
The pnme minister categorically said she does not want to see any more conflicting situation. which is immensely harmful to the country's image as well as trade and investment.
Recognising the achievements of armed forces and police department's in the UN peacekeeping missions, she said that if any more conflicting situation takes place in the country, the fame earned by the armed forces and police will be harmed.
PM’s Secretary Mollah Wahiduzzaman, Press Secretary Abul Kalam Azad and Deputy Press Secretary Mahbubul Hoque Shakil were present at the meeting.