Sunday, July 12, 2020, 03:24:14 AM

Govt for waiving of bank loan interest

Staff Correspondent |
Update: 2020-04-30 5:17:16 PM
Govt for waiving of bank loan interest
Govt for waiving of bank loan interest

DHAKA: The government is reviewing the waiver of interest on bank loans to keep the country's disrupted industrial and commercial sector on track amid the coronavirus situation.

After the announcement of the stimulus package for the industrial sector of the country, the government is going to take this initiative.

According to sources from the finance department, Prime Minister Sheikh Hasina will announce this good news soon. The premier on Monday also gave some specific directions to the Department of Finance Bangladesh Bank in this regard. Lowering corporate tax is also being considered for helping entrepreneurs. Besides, the government is also going to give subsidies for bank interests.
At the same time, corporate tax will be lowered in the upcoming national budget for fiscal 2020-2021.

However, the amount of subsidy to be given or the amount of corporate tax to be reduced has not been finalised yet.

The Department of Finance, Bangladesh Bank and National Board of Revenue (NBR) are jointly reviewing these matters.

Loan defaulters will not get these benefits which will be given to the industrialists for overcoming the virus pandemic situations.

BDST: 1717 HRS, APR 30, 2020

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