No election-year pardon for loan defaulters: Muhith

13 Mar,2018

Dhaka, BdChronicle:

Finance Minister Abul Maal Abdul Muhith on Monday trashed the idea  that no loan defaulter will be spared in this election year.

The minister made the remarks while attending a pre-budget discussion programme at the NEC conference Center in Sher-e-Banglanagar.

“A culture of debt evasion has been prevailing in the country since birth. It’s time to think seriously about it. Many alleged that the government takes a flexible policy towards handling the defaulters, which is wrong. No loan defaulters will be spared,” he said.

The budget for fiscal 2018-19 is expected to clock in at Tk 475,000 crore, which will be unveiled at the Jatiya Sangsad session of June 7, and the JS budget session will be concluded within June 30, the last day of the financial year, Muhith said.

The upcoming budget will emphasise sectors such as transport, fuel, and mineral resources, he added.

Meanwhile, Center for Policy Dialogue (CPD) chairman Rehman Sobhan suggested that the banking sector is in s3erious need of reform, with a view towards increased  reformed where monitoring should be raised.

Former governor of Bangladesh Bank (BB) Dr Mohammad Farashuddin said “To resolve the crisis in bank sector may suggest merging them together while no law exists in this regard.”

Former Finance Minister M Syeduzzaman, former Finance Secretary M Motiul Islam, and distinguished fellows of CPD Dr Debapriya Bhattacharya and Dr Mustafizur Rahman also spoke on the occasion

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