No loan received from IMF so far: Finance Minister
Dhaka, January 25: Finance Minister AHM Mustafa Kamal said that no loan has been received so far from the IMF (International Monetary Fund) in the current (2022-23) financial year. However, talks are ongoing with the IMF regarding a loan.
The Finance Minister gave this information in response to the question of government party MP Md. Habibur Rahman in the question and answer session of the Jatiya Sangsad on Tuesday.
Speaker Dr. Shirin Sharmin Chowdhury presided over the question and answer table. In response to the parliamentarian's question, the finance minister said that a loan of 300 million US dollars has been received from the World Bank in the current financial year. The loan is repayable in 30 years with a grace period of five years.
In response to M. Abdul Latif's question, the minister said that the Japanese government has released 921.61 million US dollars for the overall development of Bangladesh till December of the current financial year.
In response to the question of reserved seat MP Nazma Akhtar, the finance minister said that there is no plan to waive interest on agricultural loans. Stating the reason for this, he said, banks give loans to farmers with money collected from depositors. As the depositors have to pay interest to the bank, it is not possible for the bank to waive the interest on the loan given to the farmers.
Referring to the fact that the tax revenue was less than the target in the last financial year, in response to the question of Syed Abu Hussain, MP of the opposition Jatiya Party in Parliament, AHM Mustafa Kamal said that the post-Covid-19 economic recession, Russia-Ukraine war, global monetary policy and cost reduction policy are desirable due to these reasons. Revenue collection has been somewhat unsuccessful.
In response to the question of MP M Abdul Latif of the ruling party, the finance minister highlighted the various initiatives of the government to reduce the dollar crisis in the parliament.
He informed that domestic banking units (local banks) have been authorized to raise foreign currency funds from their offshore banking operations, which will remain in force till June 30, 2023.
To ensure adequate supply of edible oil, chickpeas, pulses, peas, onions, spices, sugar and dates during the month of Ramadan, the import of these products has been given a 90-day delay payment system, which will remain in force until March 31, 2023. To facilitate trade with China, transactions in the country's currency have been provided.