Who gets govt stimulus Tk 2500

Who gets govt stimulus Tk 2500

Staff Correspondentdaily-bangladesh.com

Published: 11:27 13 May 2020   Updated: 11:54 13 May 2020

Photo: DailyBangladesh

Photo: DailyBangladesh

The finance ministry has released Tk 1,257 crore for a one-time payment of Tk 2,500 to each of 5 million indigent families across the country affected by the coronavirus.

The money was released on Monday from two branches of the finance ministry's finance department. Prime Minister Sheikh Hasina is scheduled to inaugurate the money distribution program on May 14 that will continue till Eid-ul-Fitr, informed the sources of the Ministry of Finance.

A senior finance ministry official said a total of Tk 1,257 crore has been released on Monday to pay Tk 2,500 cash to 5 million families each. This activity is being observed from the Prime Minister's Office. Therefore, the finance department has released the money in favor of the Prime Minister's Office.

Sources said, Tk 627 crore has been released from the budget-1 branch of the finance department, and Tk 630 crore has been released from the budget-3. A service charge of Tk 7 crore has also been released as the service charge for sending the money to the beneficiaries' mobile bank accounts.

Regarding this issue, Additional Secretary of the Department of Finance Md. Habibur Rahman said, the money is released today. On May 14, 1 million families will be distributed after the inauguration of the Prime Minister. And the other 4 million families will get the stimulates in phases in the next four days.

It is learned that the Prime Minister's Office, the Ministry of Disaster Management and Relief, and the Department of Information and Communication Technology are working directly on the issue. The families qualified for the stimulus money, have been identified with the help of local government i.e. district administration, Upazila administration, and union Parishad.

The list includes rickshaw pullers, van drivers, day laborers, construction workers, agricultural workers, shop workers, workers in various businesses run by individuals; poultry farm workers, transport workers including bus-trucks laborer, and people of various professions including hawkers.

According to Finance Ministry sources, the money will be given to the families mainly through Mobile Financial Services (MFS). These include bKash, Rocket, Nagad, and SureCash. In this case, the government has to give a large subsidy to MFSs.

Meanwhile, MFSs will get only Tk 6 per thousand to reach the money. A total expense of Tk 7 crore to reach the money is borne by the government. So the beneficiary families do not have to pay any money. For this reason, the Ministry of Finance has given a separate amount of Tk 7 crore.

Out of 5 million recipients, mobile banking service provider bKash is responsible for 1.5 million families, Nagad is for highest 1.7 million families.  And the Rocket and SureCash are for the remaining 1.6 million families.