Dhaka, Feb. 26 -- The government has approved a proposal to waive agricultural loans of up to Tk 10,000, including interest, for crops, fisheries, and livestock sectors.

The decision was finalised during the first cabinet meeting chaired by Prime Minister Tarique Rahman at the Secretariat on Thursday.

Cabinet Secretary Nasimul Ghani told reporters that farmers' loans taken until Wednesday, amounting to Tk 15.5 billion with interest, will fall under this waiver.

Around 1.2 million small and marginal farmers are expected to benefit directly from this decision.

"Free from the burden of debt, farmers can now focus on production and invest the money previously meant for instalments into high-yield seeds and modern irrigation," Ghani said....