At its inaugural assembly, the government has opted to forgive agricultural debts up to Tk 10,000, inclusive of interest, within the agricultural, fisheries, and livestock industries.
The verdict was reached during a session of the cabinet convened at the Secretariat today, presided over by Prime Minister Tarique Rahman. As per a statement from the Cabinet Division, the total outstanding loan amount, including interest, owed by farmers to public commercial and specialized banks, as well as private commercial banks, is approximately Tk 1,550 crore as of February 25 this year. The complete sum will be exempted under this initiative.
If put into action, an estimated 1.2 million farmers are anticipated to directly benefit from this policy. The primary aim of this move, as per the press release, is to ensure social protection for underprivileged farmers and fortify the foundation of the agricultural domain.
Subsequent to the gathering, Cabinet Secretary Nasimul Ghani informed the press that loans up to Tk 10,000 within the agriculture and fisheries sectors would be pardoned.