True ‘Bigwigs’ don’t repay bank loans: Adviser

Power, Energy, and Mineral Resources Adviser Muhammad Fouzul Kabir Khan has said that in Bangladesh, those who fail to repay bank loans or regularly settle gas and electricity bills are the real “bigwigs.”

His remarks, made at a programme organised by the Bangladesh Investment Development Authority (BIDA) on Thursday (December 4), drew reactions from attending business leaders, who argued that both businessmen and government officials are involved in wealth accumulation and fund misappropriation.

Speaking before around 50 top business figures at the Bangladesh Investment Development Authority (BIDA) Bhaban in Dhaka, Adviser Fouzul Kabir Khan described the country’s private sector as shaped by crony capitalism. He said, “Who are the bigwigs in our country? Those who don’t repay bank loans. Who are wealthy? Those who don’t pay gas or electricity bills.” However, he clarified that he does not hold the private sector solely responsible, noting that “the system itself has been structured this way.”

The adviser also highlighted that businessmen contribute to wealth creation through production and innovation, and the government is working to create a more enabling environment for the private sector.

After leaving the event for an urgent meeting, business leaders expressed their views. Syed Nasim Manzur, managing director of Apex Footwear, said, “It’s not only businessmen who have become rich in Bangladesh; many government officials have as well. They have also been involved in fund and utility theft. Why should businessmen alone be held responsible?”

He further urged Bangladesh Bank Governor Dr. Ahsan H. Mansur to take action against those misappropriating money and resources, rather than placing the blame on honest business operators.