The Dhaka Chamber of Commerce and Industry on Tuesday said that Bangladesh Bank should take steps to reduce the bank interest rate to achieve the 16.50 per cent private sector credit growth targeted in the monetary policy for the second half of the current fiscal year. The chamber body in a statement said that the 15.50 per cent private sector credit growth targeted in the previous monetary policy could not be achieved. ‘The DCCI feels that the high rate of interest on bank loan and contemporary political instability were the major factors behind non-achievement of that target,’ it said.
‘So, Bangladesh Bank should take effective steps in achieving the target of private sector credit growth through reducing the SPREAD of interest rate of the commercial banks,’ it added.
The DCCI also requested the central bank to handle the public sector credit growth issue carefully so that the targeted 22.9 per cent credit growth in the sector was not exceeded.
It said that the central bank and expatriate welfare and commerce ministries should take coordinated effort to look into the sluggishness in remittance and export growth to avoid the affect on the balance of payment.
Terming the monetary policy as investment-friendly, it said that the new policy encourages the deposit-based small investors in getting loan and avoiding the risk associated with loan and hoped that the BB will play a cautious role in this regard.
-With New Age input
