Govt to provide Tk1,000cr for Covid-19 job recovery
The funds will be distributed among unemployed rural youths and expatriates who returned to country after having lost their jobs abroad due to the pandemic
The government will provide Tk1,000 crore to create employment for rural people who have become unemployed due to the impact of the Covid-19 pandemic.
The Palli Karma-Sahayak Foundation, the Karmasangsthan Bank, the Prabasi Kalyan Bank, and the Palli Sanchay Bank will distribute the money among unemployed rural youths and expatriates who returned to the country after losing their jobs abroad due to the pandemic.
The finance ministry will release the funds soon, said sources in the Finance Division.
They said the Finance Division recently released Tk50 crore, from an allocation of Tk368 crore, for labourers of the ready-made garment, leather and footwear sectors who lost their jobs due to the ongoing pandemic.
Officials of the division termed it a new stimulus package from the government to tackle the impact of the pandemic. The initiative has been undertaken in order to revitalise the rural economy through creating employment, they said.
In the current fiscal year, the government has allotted Tk2,000 crore in the budget for creating rural employment.
The money will be distributed through four institutions as loans among unemployed rural youths to start small businesses. Each institution will disburse Tk500 crore loans.
In July, the finance ministry released Tk1,000 crore to the four institutions. They have almost completed distributing the allotted money. In this context, the rest of the money is being released.
PKSF Chairman Kazi Khaliquzzaman Ahmed told The Business Standard that after receiving the Tk250 crore fund, initiative was taken to distribute the money to create employment. The distribution of the whole fund was completed last month.
Meanwhile, the finance ministry is allocating Tk368 crore to a fund set up by the labour ministry to provide financial assistance to workers of the ready-made garment, leather and footwear sectors who lost their jobs due to the Covid-19 pandemic. Each worker would get Tk3,000 per month for three months.
A finance division official said Tk50 crore was released from the fund on Monday. The rest of the money is due to be released in phases.