Details about stimulus package on June 30, says Faruk
FE Report

Finance minister will announce details about the allocation of Tk 50 billion fund under stimulus package on June 30, said commerce minister Faruk Khan on Tuesday.
The budget will be passed on the last day of June and the finance minister will elaborate on the allocation for different sectors, including ready-made garment (RMG), he said.
"I will sit with prime minister and finance minister next week and discuss about the stimulus package," he added.
The commerce minister was briefing newsmen after he held meetings with Bangladesh Garment Manufacturers and Exporters Association (BGMEA) and Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) Tuesday.
He will sit with them again on Saturday.
"If necessary the government will provide cash incentive to the RMG sector," the minister said.
The government is planning to give incentives to those garment exporters which explore new markets like Japan, Australia, Brazil and Mexico, he said.
The recession has been created by the developed world and the developing countries are also suffering due to the crisis, he added.
"Bangladesh will demand a $5.0 billion compensation package from the rich countries," Mr Faruk said.
It will be easier for Bangladesh to get a pie of the compensation if the money is channelled through the World Bank, International Monetary Fund and Asian Development Bank, he added.
BKMEA president Fazlul Hoque said the government should make it clear which sector is getting what.
"It will be easier for us to make future planning if we exactly know what incentives in terms of cash and policy support we will get from the stimulus package," he explained.
The government should clearly spell out what, how and when the sectors will get the supports, he asserted.
"For equitable support it is better to give cash incentives against export value," he said adding, "Interest rate subsidy is another modality the government can pursue as support to business community."
The BGMEA president Salam Murshedy demanded that the government should provide 5.0 per cent interest rate subsidy for the garment sector.
The association put forward 16-point recommendations to the minister to face the global recession.
"So far, over 60 factories have been closed down and 80 per cent of them have remained inoperative due to global recession," he said.
The government should protect the industry to maintain unhindered flow of export earnings, he added..