FBCCI boss sees 'gaps' in monetary policy

Economic Correspondent: Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) president Abdul Matlub Ahmad said that there are some 'gaps' in the Bangladesh Bank announced monetary policy for the second half of the fiscal year 2016-’17 (January-July).

However, the president of the country's apex trade body termed the monetary policy as investment friendly for private sector.

Abdul Matlub Ahmad came up with the statement at a press conference held at FBCCI Conference room on Tuesday.

The press conference was arranged to brief newsmen about the observation of FBCCI on the recently announced monetary policy, present condition of the country in private investment sector, anti-dumping duty on exporting Bangladesh jute products to India and customs and VAT issues of the current budget.  

Presenting a written speech, Abdul Matlub said, in the monetary policy, the private sector credit growth target was retained at 16.5 percent, which would have been increased to 17 percent.

Besides, the interest rate for small and medium-sized enterprises (SME) sector should be lower to 9 percent.

He emphasized on halting the increase of non-performing loan to boost investment.

risingbd/DHAKA/31 Jan 2017/Nasir/Augustin Sujan