Finance Division has given the Bangladesh Jute Mills Corporation certain conditions on how the money will be spent
The government has allocated Tk100 crore to pay salary arrears and allowances of workers and officials of state-owned jute mills.
However, the Finance Division of the Ministry of Finance has given the Bangladesh Jute Mills Corporation certain conditions on how the money will be spent, said a press release.
One of the conditions is the allocated money cannot be spent apart from paying wages and salaries of workers and officials. The payment has to be completed through bank accounts of workers, read another condition.
The Bangladesh Jute Mills Corporation (BJMC) will have to send a detailed statement, including the list of workers of each mill, to the Finance Division within a week after the payment.
Moreover, the money has to be spent following the government rules and regulations in this regard, another condition states. If anomalies happen, the authorities concerned have to take the responsibility, warned the Finance Division.
The allocated money has to be considered as a loan which carries five percent interest rate.
The BJMC has to repay the loan in the next 20 years, with a grace period of another five years, in two installments in a year. The BJMC has to sign a loan agreement with the Finance Division in this regard.
The money has been provided as operational loan to the BJMC from the head of unexpected expenditure in the fiscal year 2019-20.