Put an end to 'loan default culture'
Deputy leader of the opposition Anisul Islam Mahmud, a lawmaker of main opposition Jatiyo Party, today in parliament demanded that the government stop the culture of loan default to save the country's economy.
He said this while speaking on a point of order.
At the beginning of an unscheduled discussion, he cited a report of The Daily Star titled, "Defaulted loans soar 20.7pc in 2023."
In the news, it was said that the banking sector's defaulted loans soared by 20.7 percent to Tk 145,633 crore in 2023 due to bad governance and lack of accountability.
Defaulted loans now account for 9 percent of all outstanding loans, up from 8.16 percent a year earlier, as per the latest data from the Bangladesh Bank.
In his speech, Anisul said, "Whenever this issue is being discussed, we are told that Bangladesh Bank and other banks are taking measures to reduce this [defaulted loans]. But, we never see defaulted loans decreasing, rather it is increasing."
He said the amount of defaulted loans was Tk 28,000 crore as of 2008. The number of defaulted loans has increased to Tk 1.45 lac crore then, to as of today which is very alarming.
"At the present economic situation, the banking sector is one of the weakest."
He said there is cash crisis and dollar crisis. Some strong measures have been taken to tackle this situation.
"Under this situation, we need to stop the culture of willful loan defaulters," he also said.
Anisul said Bangladesh Bank is saying that they want to reduce the amount of defaulted loans from existing nine percent to eight percent of total outstanding loans.
"But their track record suggests otherwise."
Anisul requested the finance minister to give importance to stopping the loan default culture.
"The issue of loan default culture has been discussed in parliament so many times. But nothing has happened," he added.
"This time the prime minister said they [the govt] will try a different way … they will bring transparency. I will request to bring back this transparency," Anisul also said.
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