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Govt to take steps to bring down interest rate of bank loan: PM

Govt to take steps to bring down interest rate of bank loan: PM

Photo: PID

Dhaka, Mar 31 : Expressing here government’s firm stance to bring down the interest rate of bank loan to a single digit, Prime Minister Sheikh Hasina on Sunday said the government will take measures again to reduce the interest rate for the sake of the country’s industrialisation.

“We’ll sit again to discuss how to reduce the interest rate of bank loan,” she said while inaugurating the weeklong first national industrial fair in the city.

The Industries Ministry organised the National Industrial Fair 2019 at Bangabandhu International Conference Centre with a view to promoting and expanding the market of local industrial products and attract investment.

The Prime Minister thought that the interest rate of bank loan is the biggest barrier to the country’s industrialisation now.

Hasina said the government earlier took initiatives to reduce the bank interest rate and provided some facilities to the banks. “Some banks brought down the interest rate to 9 percent accordingly, but all didn’t do so. It (the rate) was taken to 14-16 percent again,” she added.

The Prime Minister questioned why the banks did not reduce the interest rate despite enjoying the facilities.

Sheikh Hasina said the owners of banks are running mills and factories and also doing businesses.

Noting that now she will have to interfere in this area she said, “They’re running banks and also industries, but won’t reduce the interest rate. What businesses they have and whether they’re paying tax and VAT properly.”

The Prime Minister urged the entrepreneurs to pay the bank loans and its interest in time for keeping the banks operational. “If so, it won’t be very tough to reduce the interest rate,” she added.

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