Govt can't recover NPLs rapidly on procedural tangles: Planning Minister

Planning Minister M A Mannan, on Friday, said the government is maintaining an uncompromising stance on realising defaulted bank loans. But, it cannot recover the bad loans immediately, as there are some procedural complexities in this regard.

The minister also said they are considering setting up a special tribunal for recovering non-performing loans (NPLs) in banking sector.

"But forming a special tribunal to recover the NPLs is a complex process."

He said these while speaking at a shadow parliament debate competition in the capital, said a press release.

Debate for Democracy organised the competition on the topic - 'Formation of a Bank Commission for Ensuring Good Governance' - at Bangladesh Film Development Corporation (BFDC).

The planning minister noted that income inequality is increasing in the country due to the irregularities in banking sector.

"In this case, setting up a bank commission can be a good step. Confidence, accountability and faithfulness are very important for development of the country's financial sector."

Mr Mannan opined that both growth and plundering wealth are continuing simultaneously (in the country).

"We take pride in (the country's) economic development, but not in the health of its banking sector."

"Although the country has made tremendous achievements in infrastructure, per capita income, economic growth, electricity coverage, and literacy rate etc, the scams in banking sector is a blot for us," he added.

Debate for Democracy Chairman Hassan Ahamed Chowdhury Kiron presided over the programme.

Professor Dr Riazur Rahman Chowdhury from Department of Accounting and Information Systems of Dhaka University (DU), and Tofail Ahmed, general secretary of DU Accounting Alumni Association, were also present on the occasion.

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