Monday, July 22, 2019 | ePaper

64 Ctg firms among top 300 loan defaulters

  • Print
Kazi Zahidul Hasan  :
As many as 64 business firms in Chattogram are on the list of 300 top defaulters, which unveiled by Finance Minister AHM Mustafa Kamal in the Parliament on Saturday.
The top 300 defaulters owe Tk 70,571 crore from the country's banks and financial institutions, as per the Credit Information Bureau of Bangladesh Bank.
In a scripted answer, the Finance Minister said the top 300 loan defaulters have defaulted loan of Tk 50,942 crore in the banks.
Of the total amount, Chattogram-based companies, mostly involved in ship-breaking industry, consumer goods, edible oil and steel products, had Tk 12,000 crore in combined defaulted loan as of December last year.
Samannaz Super Oil, an enterprise of Chattogram-based conglomerate SA Group, topped the list of 300 defaulters, with a defaulted loan of Tk 1,049 crore.
Insiders said, imprudent business and lending operation by companies and banks have made the port city for fertile ground of loan defaulters, causing a serious adverse impact on the city's overall economic activities.
They alleged that most of the companies borrowed big fund, but did not utilise it to expand their businesses or productive purpose, rather bought lands and luxury cars and finally they became defaulters.  
"Even, some of them fled the country owing big funds from banks," said an anonymous businessman of Chattogram.
When asked, Mahbubul Alam, President of Chittagong   Chamber of Commerce and Industry (CCCI) told The New Nation yesterday that a number of factors led the business firms to defaulters.
"Aggressive lending and ups and downs in business are among the prime causes, he said, adding, "Those who turned defaulters due to ups and downs in business should be given fresh lifeline, but the 'willful' defaulters must not go unpunished."      
Mahbubul Alam pointed out that some companies also turned defaulters after failing to get gas connection in their production units.
"Commodity traders and ship-breaking industry owners have become loan defaulters due mainly to ups and downs in their business."    
The CCCI leader also demanded strict punishment against those involved in misappropriating bank funds.
He also called for bringing down the interest rate to single digit to encourage private investment.

More News For this Category

 Dengue spreading fast: 22 dead

Dengue spreading fast: 22 dead

Md Joynal Abdin Khan with Abdul Alim :The number of death of dengue patients has increased across the country alarmingly in recent days.At least 22 people died in last seventh

43 convicts file appeals with HC

Staff Reporter :Forty-three convicts on Sunday filed three separate appeals with the High Court (HC) seeking acquittal of the charges in the case over the attack on a train carrying

2 sedition cases against Priya Saha in Dhaka dismissed

Court Correspondent :Two sedition cases filed here against Priya Saha, who raised allegations of minority torture in Bangladesh during a meeting with US President Donald Trump, were dismissed hours after

70 DAGs appointed

Staff Reporter :The government on Sunday appointed 70 lawyers of the Supreme Court in the posts of Deputy Attorney Generals (DAGs) under the Section 3(2) of The Bangladesh Law Officers

Conflict over drug dealing: Locals

Refat Sharif, the victim of the much-publicised daylight murder in Barguna, along with his assailants Nayon Bond and Rifat Forazi all share one commonality - drugs.The three were implicated in

Minni's bail plea rejected

Staff Reporter :A Barguna court on Sunday rejected the bail petition of Aysha Siddika Minni in connection with the murder of her husband Rifat Sharif, who was hacked to death

Chancellor Hammond to quit if Johnson becomes PM

Philip Hammond has told the BBC he intends to resign as chancellor if Boris Johnson becomes the UK's next PM.He said a no-deal Brexit, something Mr Johnson has left open

PM doesn't want hasty action against Priya Saha: Quader

Transport Minister Obaidul Quader on Sunday said he has been instructed by Prime Minister Sheikh Hasina not to take any hasty step against Priya Saha for her remarks during a

Priya Saha explains her WH remarks

Priya Saha, a beleaguered activist who works for minority rights, has stood by her remarks on the alleged persecution of Hindus in Bangladesh to US President Donald Trump during a

DIG Mizan shown arrested in bribery case

Staff Reporter :Suspended Deputy Inspector General (DIG) of Police Mizanur Rahman has been shown arrested in a case filed for transaction of Tk 40 lakh as bribe.Judge KM Emrul Kayesh