Government Policy

Government waives Tk 425 crore for cooperatives

The present government has waived Tk 425 crore as interest at different levels of cooperatives, benefiting around five lac people involved in the movement, said a press release of LGRD and Cooperatives Ministry here today.

State Minister for LGRD and Cooperatives Moshiur Rahman Ranga, who was appraised of the matter at a meeting held at Shamabaya Federation Bhaban at Dilkusha, appreciated the initiative and said steps would be taken to allocate Taka 300 afresh in revolving loan scheme for the welfare of 1.5 crore farming cooperatives in rural areas.

The state minister said steps have also been taken to make sure the payment of 70 percent of salary and wages of the employees of Upazila Central Cooperatives Association (UCCA) through the ministry of finance.

He said Bangabandhu and his worthy daughter, Prime Minister Sheikh Hasina, have had their visions to stimulate rural economy through cooperative movements.

President of Bangladesh Jatiya Polly Unnayan Samabaya Federation (BJPUSF) Mohammad Israfil Alam, MP, Director General of Bangladesh Rural Development Board (BRDB) Mohammad Abdul Quaiyum and Vice President of BJPUSF Khandoker Biplab Mahmud Uzzal, among others, spoke on the occasion.

Source: Bangladesh Sangbad Sangstha (BSS)