Ministry of Finance
Are borrowers or bankers more to blame for default loans?
According to the latest statistics from Bangladesh Bank, the total amount of default loans in the country's banking sector has reached 2,84,977 crore taka. This constitutes 16.93 per cent of the total loans disbursed by banks. In July, the amount of default loans was 2,11,391 crore taka. Therefore, in just three months, the amount of default loans in the banking sector has increased by 73,586 crore taka. During this period, the amount of default loans in state-owned banks has increased by 23,628 crore taka, while in private banks, the increase was 49,885 crore taka.
Loan-funded investment in Karnaphuli Tunnel at risk
The Karnaphuli Tunnel, a costly and loss-making mega project in Chattogram, has become a financial burden on Bangladesh’s economy. The tunnel, constructed with significant borrowed funds, now struggles to generate enough revenue to cover even a fraction of its expenses. Experts have pointed out that the loan taken for this project, along with the accruing interest, is being repaid from funds borrowed for other projects. As a result, the country’s economy is trapped in a vicious cycle of debt.
Soft drink prices may rise
The country's soft drink trade has been impacted by extreme heat and shifts in international politics, leading to a 25% increase in sales compared to last year. However, due to inadequate preparation, the production company is struggling to meet demand on time. Consequently, there is a possibility of a price hike for the popular product in the upcoming 2024-25 fiscal year budget.
Prof Shibli Rubayat reappointed as BSEC chairman
Professor Shibli Rubayat-Ul Islam has been reappointed as the chairman of the Bangladesh Securities and Exchange Commission (BSEC) for another four-year term. His reappointment was officially announced in a circular released by the Ministry of Finance on Sunday (April 28).
No tax on offshore banking profit
The offshore banking unit has exempted from tax on the profit or interest earned by deposit.
Prof Shibli Rubayat again becomes BSEC chairman
Finance Ministry issued a gazette notification in this regard on Saturday.
World Bank MD reaches Dhaka for a day
World Bank (WB) Managing Director (Operations) Anna Bjerde has arrived in Dhaka on a one-day visit.
Ban unnecessary foreign trips of government officials
The issue of 'unjustified' foreign trips by government officials is becoming increasingly concerning day by day. From flower cultivation, spice cultivation to cattle breeding, pond excavation, or NASA competitions, government officials traveling abroad with university graduates are not only labeled as 'unnecessary', but questions have been raised in the public mind about these issues.
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