LC payment should be on time

It is indeed a praiseworthy decision of the Bangladesh Bank (BB) that the commercial banks will be fined if they fail to make payment to the foreign parties against their letters of credit (LCs). How can a businessman pay his foreign clients on time if he does not receive LC payment on time from his local parties? It is ultimately hurting the whole business. The trend of delayed payment should be ended. Only confirming foreign payment will not solve the problem. How can I pay foreign parties on time if I don't receive my local payment on time? The investors of Bangladesh pay high interest rates to the banks compared to our neighbouring countries. It should be brought down as at the end it will be beneficial for everyone. BB should take necessary steps so that new investment is attracted.
Mohammad Sohel Hara
Shahjadpur, Dhaka
sohelhara@hotmail.com