• Tuesday, Sep 25, 2018
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Muhith: Banks failed to realize Tk656.02bn from big borrowers

  • Published at 10:19 pm January 24th, 2018
Muhith: Banks failed to realize Tk656.02bn from big borrowers
Country's scheduled banks and financial institutions have failed to realize some Tk65,602 crore in default loans over the last 10 years from the big borrowers, each of whom had taken loans above Tk10 crore. Finance Minister AMA Muhith gave this figure to the parliament on Wednesday, along with a list of 1,956 big defaulters. According to the latest CIB database of Bangladesh Bank till November 2017, some 8,791 persons and organizations took Tk10-crore plus loans from scheduled banks and financial institutions in the last 10 years. The minister gave these numbers in response to a written question from independent MP Rustum Ali Faraji (Pirojpur-3). The number of defaulter persons and organizations is 1,956, while the total amount of default loans is Tk65,602 crore and the total amount of classified loan is Tk72,050 crore. Muhith placed a list of 1,956 top defaulters of all banks and financial institutions. The first ten names are Mohammad Elias Brothers (Pvt) Ltd, Marrine Vegetable Oil Ltd, Quantum Power Systems Ltd, Max Spinning Mills, Benetex Industries Ltd, Anowara Spinning Mills, Chowdhury Knitwears Ltd, Siddique Traders, Yasir Enterprise and Alppa Composite Towel Ltd. In reply to a supplementary question from the ruling party MP Shamsul Haque Chowdhury, the finance minister said: “The number of taxpayers in the country is 3.1 million. It is shameful. At least 16 million of the 160 million people should be paying taxes.” Muhith said the government has a target to increase the number of taxpayers to 5 million by 2021.