Govt fully capable to face the flood situation: Muhith

Flood has caused temporary losses but the government is fully capable to face the situation, said finance minister AHM Muhith.

“The government is now in such a position that it can easily face any crisis caused by the flood. There is no food crisis in the country and there will be no crisis in the future also,” said the finance minister while speaking at an agreement signing ceremony here yesterday.

He said rice price is maintaining an upward trend and the government is importing rice to face the situation. Rice price in the international market is high, he said, adding that the government has to spend more money and it has that capacity to do so.

Pran-RFL Group and Sonali Bank Ltd signed the agreement under which the bank will give loan to the contract farmers of PRAN Dairy Limited with a view to raring high quality cattle breeds and increasing production of dairy products. Director (Corporate Finance) of PRAN-RFL Group Uzma Chowdhury and General Manager of Sonali Bank Rafiqul Islam signed an agreement on behalf of their respective organizations.

Bangladesh Bank Governor Fazle Kabir, Senior Secretary of the Financial Institutions Division Md Eunusur Rahman, Chairman of Sonali Bank Board of Directors Md Ashraful Moqbul, managing director and chief executive officer Md Obayed Ullah Al Masud and Pran-RFL Group managing director Elias Mridha were present.

Muhith said the economy of a country can easily face crisis if it maintains steady growth for several years in a row. Bangladesh has been maintaining a steady growth for the last eight years, he said.

Muhith said agriculture is still the basic foundation of the country’s economy though IT and other sectors have witnessed a huge expansion. There is a structural change in the economy but agriculture is still the main base of the economy, he said.

The finance minister said investment of PRAN Group is playing a guiding role in various business sectors. PRAN Group is a bright example of creating new products by investing in agriculture sector.

Sonali Bank will provide loan to the dairy farmers as per the recommendation of PRAN Dairy. Farmers will receive the collateral free loan worth Tk 50,000 to 2,00,000 while Tk 3,00,000 to 10,000,00 with collateral. The farmers will have three to five years to pay back the loan. There are over 11,000 contact farmers under PRAN Dairy.

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