Finance adviser upbeat about 7.0pc GDP growth
Monday, 30 July 2007
Finance Adviser Mirza Azizul Islam is optimistic about achieving 7.0 per cent GDP growth if private sector credit growth maintains its current pace, reports UNB.
"The present credit growth is 15.2 per cent and I am optimistic to achieve the projected GDP growth for this fiscal," he said after a meeting Sunday with Bangladesh Shilpa Rin Sangstha (BSRS).
The adviser mentioned that the present 15.2 per cent credit growth in the private sector is more or less optimum and it is not that bad considering the over all situation.
At the meeting, the BSRS handed over a dividend of Tk 10 million (1 crore) for fiscal 2005-06 to the finance adviser. BSRS Managing Director FRM Hafiz Ul Islam handed over the cheque to the adviser on behalf of his organisation.
The adviser asked the BSRS officials to work more efficiently for disbursing and diversifying industrial loans, abandoning traditional approaches in credit management.
He expressed his satisfaction over BSRS making some development in its activities, increasing contribution in industrialisation and enhancing its operational profit.
The BSRS recovered Tk 320 million (32 crore) loans in 2006-07 fiscal year and made a profit of Tk 172.90 million (17.29 crore) through its overall activities. The industrial development bank has so far invested Tk 646.60 million (64.66 crore) in the capital market, official sources said.
"The present credit growth is 15.2 per cent and I am optimistic to achieve the projected GDP growth for this fiscal," he said after a meeting Sunday with Bangladesh Shilpa Rin Sangstha (BSRS).
The adviser mentioned that the present 15.2 per cent credit growth in the private sector is more or less optimum and it is not that bad considering the over all situation.
At the meeting, the BSRS handed over a dividend of Tk 10 million (1 crore) for fiscal 2005-06 to the finance adviser. BSRS Managing Director FRM Hafiz Ul Islam handed over the cheque to the adviser on behalf of his organisation.
The adviser asked the BSRS officials to work more efficiently for disbursing and diversifying industrial loans, abandoning traditional approaches in credit management.
He expressed his satisfaction over BSRS making some development in its activities, increasing contribution in industrialisation and enhancing its operational profit.
The BSRS recovered Tk 320 million (32 crore) loans in 2006-07 fiscal year and made a profit of Tk 172.90 million (17.29 crore) through its overall activities. The industrial development bank has so far invested Tk 646.60 million (64.66 crore) in the capital market, official sources said.