Double-digit growth in four years: Kamal

FE Report | Published: March 26, 2019 09:54:07 | Updated: April 04, 2019 16:46:23

Finance Minister AHM Mustafa Kamal addressing the Annual Conference 2019 of Sonali Bank at the IDEB Bhaban in the city on Monday — FE Photo

Finance Minister A H M Mustafa Kamal foresees a double-digit gross domestic product (GDP) growth for the country in the next four years.

"In four years we will reach the auspicious stage," the minister said while inaugurating the annual conference of Sonali Bank Limited on Monday.

He said the GDP growth in this fiscal year (FY), 2018-19, will be 8.13 per cent, while the per capita income to reach US$ 1,909.

Mr Kamal said the Awami League government started this spell of journey with $553, and has reached at this stage now.

"Our target is a zero-poverty country by 2030. We are already at par with many developing countries."

The minister noted that once Bangladesh was an example of hunger and poverty, but now the country is a role model of economic development.

He urged the bankers to work efficiently to help turn the country into 'Sonar Bangla' (Golden Bengal).

Speaking on the occasion, the Bangladesh Bank (BB) Governor Fazle Kabir said Sonali Bank attained a handsome amount of operational profit in 2018.

But the provision shortfall is very high while the amount of written-off loans has not been reduced compared to the previous year, he also said.

"We did not see expected improvement in case of classified loans."

The BB governor noted that loans amounting to some Tk 20 billion were rescheduled last year.

"But despite that the rate of classified loans is still 30 per cent. The bank has to give more attention to this," he added.

Sonali Bank Chairman Ashraful Moqbul presided over the function. Secretary to the Financial Institutions Division Ashadul Islam, and the bank's managing director Obayed Ullah Al Masud also spoke on the occasion.



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