PM expects banks to implement single digit interest rate from April

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GBNEWS24DESK//

Prime Minister Sheikh Hasina on Monday expressed hope that the banks will implement the single digit interest rate from April for the sake of the speedy industrialization and investment.

The Premier expressed such hope when a delegation of Bangladesh Association of Banks (BAB), led by its President Nazrul Islam Mazumder, met her at her official Ganabhaban residence on Monday evening.

The BAB leaders handed over cheques for Taka 225 crore to the Prime Minister as donation to the Father of the Nation Bangabandhu Sheikh Mujibur Rahman Memorial Trust marking the birth centenary celebration of Bangabandhu.

Speaking on the occasion, the Prime Minister said, “I don’t want to repeat what you’ve said already. I hope that the single digit interest rate will be implemented. If not, there won’t be desired investment in the country while trend of investment will also be in peril,”

Sheikh Hasina went on saying, “I’ve fulfilled all that you’ve (BAB) demanded earlier, but you didn’t live up to your commitment. I hope this time there won’t be any breach of commitment, and hope you’ll implement it.”

Earlier, BAB President Nazrul said that they would implement the single digit interest rate from the first of April.

Finance Minister AHM Mustafa Kamal was present.

Elaborating her government’s steps for the development of the private sector, the prime minister said her government after assuming office in 1996 had opened the doors of private sector for all fields.

“The government cannot develop the country alone, the private sector will also have to come forward to this end,” she said.

Sheikh Hasina said her government had to face many obstructions while going to allow the private banks.

“There were objections from those who played a role in stopping funding of the Padma Bridge … they questioned that what will happen by giving so many banks as the country’s economy is not so big?” she said.

“But my reply at that time was that now the economy is not big. But it will be huge one day,” she continued.

Sheikh Hasina said she had offered many people to set up banks to pave the way for trade and commerce.

While talking about investment, she said: “Why we speak about only the foreign investment. The countrymen have an ability to make investment … we’re establishing 100 economic zones and the people can invest there.”

The prime minister said her government wants to build Bangladesh in such a way so that it does not need to look behind.

“We want the country’s irresistible advance to continue …. we want to take Bangladesh in such a position so that it never nosedives,” she said.

She went on saying: “The Bangalees can say with pride by going anywhere of the world that our country is Bangladesh… we’re Bangalees and we’ve a dignity.”

Sheikh Hasina said Bangalee nation fought the Liberation War with arms and earned victory under the leadership of Bangabandhu.

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