Default loans of top 20 defaulter cos at Tk 166b

List placed in JS

FE REPORT | January 25, 2023 00:00:00

The volume of default loans with top 20 defaulter companies stood at nearly Tk 166 billion as of December 2022, accounting for 86 per cent of their total debts amounting to Tk 192.84 billion, Finance Minister A H M Mustafa Kamal told Parliament on Tuesday.

Placing a list of top defaulters before the Jatiya Sangsad (JS), the minister also mentioned that the total number of defaulters in the country was 786,065.

The finance minister disclosed the figures in response to a tabled question from ruling Awami League MP Shahiduzzaman Sarker.

The CLC Power Company Limited topped the list of defaulters with more than Tk 16.49 billion, followed by Western Marine Shipyard Ltd with Tk 15.29 billion, Remex Footwear Ltd over Tk 10.77 billion, Rising Steel Company Ltd Tk 9.90 billion, Mohammad Elias Brothers (Pvt.) Ltd Tk 9.65 billion, Rupali Composite Leather Wear Limited Tk 8.73 billion, Crescent Leather Products Limited Tk 8.55 billion, Quantum Power Systems Limited Tk 8.11 billion, Saad Musa Fabrics Limited Tk7.76 billion and BR Spinning Mills Limited Tk 7.21 billion.

Besides, SA Oil Refinery Limited defaulted on Tk 7.03 billion, Maisha Property Development Limited Tk 6.63 billion, Radium Composite Textile Mills Limited Tk 6.60 billion, Samannaz Super Oil Limited Tk 6.51 billion, Manha Precast Technology Limited Tk 6.47 billion, Ashian Education Limited nearly Tk 6.36 billion, SM Steel Re-rolling Mills Limited Tk 6.30 billion, Apollo Ispat Complex Limited Tk 6.23 billion, Ehsan Steel Re-rolling Limited Tk 5.90 billion and Siddique Traders Tk 5.41 billion, according to the list.

The finance minister, however, said, apart from the government, the central bank of Bangladesh had already taken various steps to realise the default loans.

Responding to another question, the finance minister informed JS the government had no immediate plan to waive interest on agricultural loans.

However, the amount of total default loans in the banking sector stood at Tk 1.34 trillion against the total debts of Tk 14.36 trillion as of September 2022, according to the Bangladesh Bank.