The government has taken steps to resolve the ongoing crisis in Bangladesh’s tea industry and ensure easier access to loans for garden owners.

A 12-member monitoring and advisory committee, headed by the commerce minister, has been formed for the purpose, according to a gazette notification issued by the Prime Minister's Office on Sunday.

The committee includes the principal secretary to the prime minister, the governor of Bangladesh Bank, and the secretaries of the land, finance, commerce and agriculture ministries, along with senior officials from relevant organisations.

The commerce secretary has been appointed member-secretary of the committee, reports bdnews24.com.

The chairmen of the Bangladesh Tea Board, Bangladesh Tea Association and Tea Traders Association of Bangladesh have also been included, along with other stakeholders from the sector.

One of the committee's key responsibilities is to make it easier for tea gardens to repay their existing loans.

Under its terms of reference, the committee will recommend rescheduling classified loans held by tea garden owners and consider recommendations on providing new loans.

The gazette also asks the committee to give its views on establishing a revolving fund for the tea sector at an interest rate of 6.0 per cent.

The committee will also provide recommendations and a report on declaring tea an agricultural product and on installing commercial solar power panels on unused land in tea gardens.

It has been asked to submit a report with its views on these issues within 30 days.

The gazette says the committee may include new members if necessary and will meet as required.

The notification takes immediate effect.