Bizdata Insights Main Logo

BizData Insights

Govt Issues Tk 2,357 Crore Bonds to Settle Fertiliser Importers’ Arrears

Industry: Agriculture & Livestock, Fertilizer
Economic Tag: Govt.

The Finance Division issued special bonds worth Tk 2,357 crore to clear arrears for fertilizer importers, following a previous batch of Tk 3,016 crore issued earlier. This move aims to settle outstanding payments to suppliers and power producers. The bonds, totaling Tk 26,000 crore, will gradually address these debts. They are being issued to nine public and private banks and will accrue interest at the repo rate of 8%. The bonds have maturity periods of eight, nine, and ten years and can be included in banks’ statutory liquidity ratio calculations. This initiative aims to alleviate financial strains on suppliers and power producers while facilitating smoother operations in the agriculture and energy sectors.

Source for more details:

Related News

Govt Plans to Deploy Drones for Assessing Crop Losses

April 18, 2024

Bangladesh plans to introduce drones for crop damage detection, with 20 Department of Agricultural Extension (DAE) officers undergoing training. The seven-day programme, from April 17 to 25, includes four days of GIS and remote sensing training and a three-day field trip to Sylhet.

NCC Bank and BRRI Ink Deal for Agriculture Research

April 18, 2024

NCC Bank has signed an agreement with Bangladesh Rice Research Institute (BRRI) to provide Tk 90 lakh in financial assistance for a research project on developing a "Prilled Urea Applicator". The goal of the project is to increase fertiliser efficiency and reduce urea fertiliser use in paddy lands by 30 percent.

Capital Expenditure Projected to Reach 6.68% of GDP

April 18, 2024

The government has set a target to increase capital expenditure in the medium term, aiming to spur sustained economic growth. According to a UNB report, capital expenditure is projected to rise to 6.68% of GDP by the fiscal year 2025-26, up from 6.41% in 2024-25 and 6.50% in the current fiscal year. This investment is channeled through either the Annual Development Program (ADP) or non-ADP capital expenditure,

Govt to Extend Social Safety Net Programs to 4 Lakh More Beneficiaries

April 18, 2024

The government plans to expand its social safety net programmes by approximately four lakh beneficiaries to aid more impoverished individuals amidst enduring inflationary pressures. Despite allowances remaining unchanged due to fund constraints, this decision aims to alleviate the cost-of-living crisis in Bangladesh, where inflation has persisted above 9% for 13 months. Specifically, the old age

DAE to Provide Direct Agro-Weather Forecasts Access to 3M Farmers

April 17, 2024

The Department of Agricultural Extension (DAE) plans to expand its network to include 3.0 million farmers, providing them direct access to agro-related weather forecasts. Supported by the World Bank, the 'Bangladesh Agro-Meteorological Information System (BAMIS)' project, in collaboration with Practical Action, aims to enhance its capacity.

54,000 People Join UPS Over Eight Months

April 17, 2024

Enrollment in Bangladesh's Universal Pension Scheme (UPS) has been sluggish, with only approximately 54,000 individuals joining over an eight-month period. Golam Mostofa of the National Pension Authority (NPA) noted that Tk43.62 crore has been deposited across four schemes, with varying levels of participation. Despite incentives such as government subsidies and attractive returns, economists attributes the

Related News

Govt Plans to Deploy Drones for Assessing Crop Losses

April 18, 2024

Bangladesh plans to introduce drones for crop damage detection, with 20 Department of Agricultural Extension (DAE) officers undergoing training. The seven-day programme, from April 17 to 25, includes four days of GIS and remote sensing training and a three-day field trip to Sylhet.

NCC Bank and BRRI Ink Deal for Agriculture Research

April 18, 2024

NCC Bank has signed an agreement with Bangladesh Rice Research Institute (BRRI) to provide Tk 90 lakh in financial assistance for a research project on developing a "Prilled Urea Applicator". The goal of the project is to increase fertiliser efficiency and reduce urea fertiliser use in paddy lands by 30 percent.

Capital Expenditure Projected to Reach 6.68% of GDP

April 18, 2024

The government has set a target to increase capital expenditure in the medium term, aiming to spur sustained economic growth. According to a UNB report, capital expenditure is projected to rise to 6.68% of GDP by the fiscal year 2025-26, up from 6.41% in 2024-25 and 6.50% in the current fiscal year. This investment is channeled through either the Annual Development Program (ADP) or non-ADP capital expenditure,

Govt to Extend Social Safety Net Programs to 4 Lakh More Beneficiaries

April 18, 2024

The government plans to expand its social safety net programmes by approximately four lakh beneficiaries to aid more impoverished individuals amidst enduring inflationary pressures. Despite allowances remaining unchanged due to fund constraints, this decision aims to alleviate the cost-of-living crisis in Bangladesh, where inflation has persisted above 9% for 13 months. Specifically, the old age

DAE to Provide Direct Agro-Weather Forecasts Access to 3M Farmers

April 17, 2024

The Department of Agricultural Extension (DAE) plans to expand its network to include 3.0 million farmers, providing them direct access to agro-related weather forecasts. Supported by the World Bank, the 'Bangladesh Agro-Meteorological Information System (BAMIS)' project, in collaboration with Practical Action, aims to enhance its capacity.

54,000 People Join UPS Over Eight Months

April 17, 2024

Enrollment in Bangladesh's Universal Pension Scheme (UPS) has been sluggish, with only approximately 54,000 individuals joining over an eight-month period. Golam Mostofa of the National Pension Authority (NPA) noted that Tk43.62 crore has been deposited across four schemes, with varying levels of participation. Despite incentives such as government subsidies and attractive returns, economists attributes the

BUSINESSMONITOR

Connect with


Dont Have Account? Please register Here