Finance Minister AHM Mustafa Kamal has said the government will protect the interests of the business community in the country. He said that this effort will continue despite the knowledge of some banks incurring losses due to a recent decision that extended loan repayment period for three more months.
The minister said this in response to a question from reporters after a meeting of the Cabinet Committee on Economic Affairs and the Cabinet Committee on Public Procurement Wednesday (September 30).
The journalist wanted to know whether banks will incur loss due to Bangladesh Bank’s decision to extend the period of special facility which will not classify borrowers as defaulters, even if they failed to pay back their bank loans on time, till the end of the year.
In his reply, the minister said, "If businessmen and traders do not survive banks will not survive either."
Highlighting the rationale for such decision, the minister said, "Banks have made good profits last financial year. As a result, even if the loan repayment period is extended a little, their profits will not decrease much."
The meeting of the Cabinet Committee on Economic Affairs approved a proposal to upgrade Dhaka (Joydebpur)-Mymensingh highway to an expressway with service lanes on both sides.
Korea Overseas Infrastructure and Urban Development Corporation of South Korea will implement the project on the basis of Public-Private-Partnership (PPP).
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