The government hopes that corruption among public servants will drop significantly if they own an apartment when they retire. “The total interest subsidy will be Tk800 cr,” the official told the Dhaka Tribune, claiming that,the county’s banking sector currently has idle money worth Tk 1,20,000cr. Bangladesh Bank officials and staff are entitled to 5% interest rate on their home loans against their basic salaries and provident funds. The Public Works Ministry has already sent a proposal of Tk500 crore to the Planning Commission for providing loan to public servants to buy flats. According to Finance Division, there are currently 477,000 first class officers, 131,000 second class employees, 1.228 million third class and 267,000 fourth class.

Source: Dhaka Tribune March 11, 2017 19:31 UTC