FBCCI for stern action against loan defaulters

FE Online Report | Published: June 09, 2018 15:57:59 | Updated: June 10, 2018 10:01:27

FBCCI President Md Shafiul Islam Mohiuddin speaks at a discussion (File Photo)

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) on Saturday demanded strict punishment against those involved in misappropriating bank loans.

The apex trade body, at the same time, called for bringing down the interest rate to single digit to encourage investment at large volume from the private sector.

“We want strict punishment against people involved in such bank robbery,” FBCCI president Shafiul Islam Mohiuddin said.

He said this while talking to the reporters at the post-budget press conference at the Federation Bhaban in the capital on Saturday.

Giving reaction of the FBCCI, he said the private sector has enough capability to provide more than the targeted capital in the proposed budget. For that, all barriers for capital formation need to be removed.

“Capital market and banks provide financial requirement for private sector. But high rate of interest discourage them. We want conducive capital climate and single digit interest rate,” he said.

Mr Mohiuddin also laid emphasis on timely and quality execution of ADP (annual development programme) to encourage both local and overseas investment.


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