Speakers at a seminar emphasized an integrated effort among the government, realtors and banks for resolving the problem relating to high interest rate of banks loans to help reverse the prevailing sluggish trend in the real estate business.
They also called for ensuring sustainable housing for people from all segments of the society, taking their respective purchasing power into consideration.
These observations came at a seminar titled 'Rate of bank interest: real estate sector and effect on investment', organized by REHAB on the sideline of ongoing REHAB Winter Fair 2014 at Bangabandhu International Conference Centre (BICC) in the capital.
However, realtors sought a stimulus fund worth Tk 200 billion from the government to revive the sector. They also demanded lowering bank interest rate to a reasonable level, with the central bank fixing the interest limit.
Qazi Kholiquzzaman Ahmad, economist and chairman of Palli Karma-Sahayak Foundation (PKSF), said: "Considering the demand and supply of bank loan, a structure has to be formed by the government and private organizations to resolve the problem of not getting bank loan at low interest rate."
He said there is no way to call the real estate sector as an unproductive sector, as housing has to be ensured for everybody.
Prof Rashed Al Mahmud Titumir of Dhaka University's Development Studies department said: "Earning discrimination and imbalance of land and population are creating gap. Considering the earning capacity of all spheres of citizen, sustainable housing should be ensured."
He also said resolving the problems of the real estate sector through stimulus fund and its interest rate might not be possible. Differential rate of interest is necessary in this regard.
Former NBR chairman Abdul Mazid said: "High interest rate of loans keep the money idol in the banks, which is not expected."
He said piling up bank reserve is not important, but rolling of money is important. The country has to ensure housing for all sorts of earning people.
REHAB senior vice president Rabiul Haque, vice president and press and media standing committee chairman Liakat Ali Bhuiyan, and general secretary Md Wahiduzzaman were also present at the programme.
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