The amount of default loans in the banking sector of the country has increased to Rs 5 lakh-44 thousand 831 crore. Finance Minister Amir Khasru Mahmud Chowdhury said this on the basis of the calculation till December 31, 2022.
He said this in response to a written question in the National Assembly session on Monday. The overall picture of the country’s loan default was presented in the session held under the chairmanship of the Deputy Speaker.
According to the finance minister, the presence of large industrial groups in the list of top loan defaulters is noticeable.
The top 20 creditors of the Finance Minister are:
1. Come. Alam Super Edible Oil Limited
2. Come. Alam Vegetable Oil Limited
3. Salam Refind Sugar Industries Limited
4. Come. Alam Cold Rolled Steels Limited
5. Sonali Traders
6. Bangladesh Export Import Company Limited
7. Global Trading Corporation Limited
8. How Steel Limited
9. Come. Alam Trading Company Private Limited
10. Infinite CR Strips Industries Limited
11. KIA Cosmetics Limited
12. Deshbandhu Sugar Mills Limited
13. Power Pack Mutira Keraniganj Power Plant Limited
14. Power Pack Mutira Jamalpur Power Plant Limited
15. Pacific Bangladesh Telecom Limited
16th. Karnaphuli Foods (Pvt.) Limited
17th. Murad Enterprise
18. CLC Power Company Limited
19. Beximco Communications Limited
20. rainbow builders (p.p.) Limited
Economists believe that this high default loan poses a big risk to the country’s financial sector. The risk of liquidity crisis in the banking system and the stagnation of new investment are also increasing.
However, the finance minister said the government and Bangladesh Bank are taking various steps to recover the default loan. He informed the parliament that necessary steps are being taken to recover the outstanding and stabilize the financial sector through the legal process.
According to analysts, it can be difficult to deal with the crisis in the long run without effective reforms and strict surveillance to control default loans.