DCCI for figuring out willful defaulters to control NPL

Staff Correspondent

21 January, 2020 12:00 AM printer

Dhaka Chamber of Commerce and Industry (DCCI) has suggested figuring out the willful defaulters to control non-performing loans (NPLs).

“Soaring NPL would increase cost of doing business as it fuels cost of borrowers,” said DCCI President Shams Mahmud at a press briefing on Monday held at its city office.

But if someone fails to repay his loan due to delayed power or energy connections, he should not be considered as willful defaulters, opined DCCI president.

About the government’s commitment of cutting down lending rate to single digit, he expressed hope that it will come into effect from April next.

Shams Mahmud demanded single digit loan facility for the SMEs as well. He also said that micro credit and banking loan to SMEs are different things.  For the development of SME, DCCI is going to establish a Research and Innovation Centre (RnI) giving it a separate entity. RnI will do necessary research for the SME, first of its kind initiated by DCCI, said DCCI president.

DCCI will also work for the up-skilling of entrepreneurs and startups. He also emphasised proper implementation of SME Policy, he continued.

On the capital market, DCCI president said that secondary bond market is a necessity now. He also urged to allow company buy back system and good governance.

Stressing need for developing back system for RMG and other sectors, he urged for bonded warehouse facility, back to back LC to leather made products, tax rebate and new technology adoption.

DCCI president also said nearly 80 percent of exports are destined to North America and Europe and products sophistication has remained almost static.