Businesses advised to take loan from external sources

FE Report | Published: February 28, 2014 00:00:00 | Updated: November 30, 2026 06:01:00

Planning Minister AHM Mustafa Kamal advised the businesses Thursday for taking loan from external sources to help reduce the existing interest rates of the local banks.
"You (businesses) are repeatedly requesting the government to take step for reducing the prevailing interest rate. I will advise that you better take loan from external sources for reducing pressure on the banks," he added.
About the legal process of taking loan from external sources, the Planning Minister said: "I know the law, and I assure you there is no legal bar in taking loan from external sources."
Mr Kamal was speaking at a discussion on "Present Government Development Works and Future Planning" at the Federation of Bangladesh Chambers of Commerce and Industry's (FBCCI) conference room in the city.
Planning Division Secretary Bhuiyan Shafiqul Islam, FBCCI first vice president Monowara Hakim Ali, former vice president Mostafa Azad Chowdhury Babu, Abul Kashem, directors Helal Uddin, Abdul Haq, Obaidur Rahman, Jalal Uddin Yamin addressed the discussion with FBCCI President Akram Uddin in the chair.
The Planning Minister gave the full credit to the private sector investors for country's economic growth in the last few years amid the world economic recession.
"Our private sector investors did 90 per cent development in the last few years. The government failed to provide congenial atmosphere for the businesses," he said.
Mr Kamal urged the businesses to come up with investment in the large projects with the government under the Public-Private Partnership (PPP).
The Planning Minister said the government is undertaking coal fired power plant project for lack of gas supply.
"The private sector businesses can invest in the power plant project and the government is ready to help you", he said.
Mr Kamal said the last five years saw the highest development in history of the country. The previous government broke all records of development.
The Planning Minister said turning Bangladesh into a middle income country by 2021 and a developed one by 2041 is a key objective of the government. Planning should be done keeping high people's interest.
"It is our people who are at the centre of all our planning process. We would engage both former and current officials in formulating future planning," he added.
He said that as the economic recession in Europe and America is over, there would be a global economic boom in the next five years.
"So, the next five years would be a hard time for us and we have to overcome it through relentless work," the minister added.
Planning Division Secretary said after the independence, Bangabandhu Sheikh Mujibur Rahman established the Planning Commission to achieve economic development of the newly established country.
"After the Bangabandhu's regime, the Planning Commission was used to fulfil personal desire," he said.
FBCCI First Vice-President said: "We want congenial political and business atmosphere to enhance the real development of the country."