High interest rate hurting industrial sector

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The high interest rate of banks has a bad impact on industrial sector of Bangladesh. The central bank should reduce the interest rate and match it with those of our neighboruing countries so that our businesses can remain unhurt in today's competitive global market. The world economy is experiencing a tough time due to global economic recession. Every country has taken steps so that her business and industry do not suffer due to the downturn of world economy. High interest rates are discouraging new investments and the investors are facing additional pressure for high interest rates. If the interest rate is lowered, it will give some relief to businessmen who are already struggling against the world economic recession. The operational cost of industries has been increasing gradually and we need to boost up the confidence of investors so that they can survive during this tough time. The volatile political atmosphere of our country is not helping the cause of industrial sector and labour unrest has become regular affairs nowadays. So, it is necessary to keep our industrial sector alive and vibrant by reducing bank interest rates. Mohammad Sohel Hara Shahjadpur, Dhaka sohelhara@hotmail.com