Govt to go hard against loan defaulters

The government will take tough action against loan defaultersa by implementing existing law or enacting fresh new laws if necessary. Finance Minister A H M Mostafa Kamal said this while replying to query of reporters after attending a meeting with managing directors and chairmen of state run banks at the National Economic Council auditorium in the capital on Tuesday.

The Finance Minister said, "There is no way to increase the non-performing loan as we have taken all possible steps to prevent this. We will bring all loan defaulters under law. If we find any government official engaged in non-performing loan, we will also take action against them according to the laws."

The Minister also said, "We will also enact new laws if necessary so that no loan-defaulter escapes. We will ensure all necessary steps for healthy completion and market development. We will run regular operation to ensure the transparency." “There will be no non-performing loan cases in future,” Mostafa Kamal said, adding, “We will give loan only to the good loan borrowers.

About the meeting with managing directors and chairmen of state run banks, the finance minister further said, "We decided to carry on meeting with four state run banks in three months interval in order to evaluate their performance and take decision. We will take necessary actions according to the decision of the meeting." About annual performing indicator, the minister said that had our performance being bad it would not possible for us to cross Malaysia, Singapore and other developed countries.