Prime minister Sheikh Hasina on Sunday said steps are being taken to bring down interest rate to single digit in all banks, noting that higher interest rate naturally causes loan defaults, reports UNB.
“We want to bring it (bank loan interest rate) down to single digit. In the meantime, we’ve taken appropriate measurers so that investment becomes easy,” she said while handing over the prestigious National Export Trophy in Dhaka.
He said investing with higher interest rate loan very naturally transforms into loan defaulters. “Because it’s not possible to build an industry just after taking money (from banks),” she said.
The prime minister gave awards to 66 companies for their extraordinary performance in the country’s export earnings. She gave away the trophies under 28 categories at the programme jointly organised by the commerce ministry and the Export Promotion Bureau (EPB) at Bangabandhu International Conference Center.
Twenty-nine of the companies were selected for National export Trophy 2016-17 gold trophy, 21 for silver and 16 for bronze trophy.
Talking about the government’s directive to bring the bank loan in single digit, Sheikh Hasina said some banks were already obeying the directive while some are yet to follow suit.
“We’re in discussion about the matter and are providing facilities they (banks) need. We want to bring it to single digit,” she said.
Commerce minister Tipu Munshi presided over the programme where chairman of the parliamentary standing committee on commerce ministry Tofail Ahmed, Federation of Bangladesh Chambers of Commerce and Industry president Sheikh Fazle Fahim, senior secretary of the commerce ministry Mofizul Islam and EPB vice-chairman Fatima Yasmin also spoke.