The New Nation - Internet Edition

BUSINESS REPORT

The defaulted loans of the country's 48 public, private and specialised banks amounted to Tk 36,000 crore, of which, Tk 13,000 crore have already been written off.

On the other hand, Tk 19,000 crore of the remaining 'visible' defaulted loans of Tk 23,000 crore have already been identified as bad loans.

M Abdur Rahman, founder chairman of Peoples Development Services Corporation Ltd (PDSC) yesterday said this at a function organised on the occasion of the 12th anniversary of PDSC at Dhaka Reporters Unity in the city.

He said it becomes very difficult for the banks to realise the total Tk 32,000 crore including Tk 19,000 crore of bad debts and Tk 13,000 crore of default loans from different individuals.

The banks have no alternative to handover the responsibility to the recovery agents like the PDSC for realising the amount from the defaulters since they have not enough manpower and experts regarding the matter, said Rahman.

The PDSC chairman said despite the realisation of loans is sometimes very complicated, risky and expensive for banks the PDSC is ready to take all of the risks.

The chairman urged the government and Bangladesh Bank to provide sufficient commission and legal aid for the realisation of defaulted amounts, which would certainly help to meet the budget deficit.

Khondkar Ibrahim Khaled, former Deputy Governor of Bangladesh Bank and Chairman of Bangladesh Krishi Bank, held the interferences of political parties responsible for growing amount of default loan of public banks.

Ibrahim Khaled also suggested PDSC chairman to turn his organisation into asset management company by carrying out credit rating, appraisal and recovery tasks altogether.