The government has formed a 12-member monitoring and advisory committee to develop the tea industry and solve its existing problems. The committee has also been asked to give its opinion on setting up a revolving fund for the tea sector at 6% interest.

Headed by Commerce Minister Khandaker Abdul Muktadir, the committee includes senior officials from the Prime Minister's Office, Bangladesh Bank and the ministries of finance, land, agriculture and commerce, as well as representatives of various organisations linked to the tea sector.

The formation of the committee was announced in a notification from the Prime Minister's Office on Sunday, 16 August. The notification says the committee may co-opt members as needed and will meet as required. It is to take effect immediately.

Among its main tasks is to recommend rescheduling the classified loans of garden owners and extending fresh loans, to make it easier for tea gardens to repay existing debt. In other words, the committee will advise the government on restructuring loans and opening up new financing for tea gardens under debt pressure.

Source: Jagonews24. First published in Bengali on The Agro News.