The Financial Express

Kamal hopes to recover embezzled bank money

| Updated: August 06, 2019 12:04:12

File photos shows Finance Minister AHM Mustafa Kamal File photos shows Finance Minister AHM Mustafa Kamal

Finance Minister A H M Mustafa Kamal said he will recover the entire volume of money, embezzled from banks by various conglomerates like Hallmark Group.

"My standpoint is still the same. We will recover all those (money)," he said when his attention was drawn to this regard.

Mr Kamal was briefing newsmen after a meeting of the Cabinet Committee on Public Procurement at Bangladesh Secretariat in the capital on Wednesday.

"You know, meantime, Bismillah Group has said it will run its business, and pay back the loans taken from banks."

The minister said every businessman will be benefitted, if the 'one-time exit' plan can be implemented.

The central bank unveiled the plan for loan defaulters on May 16, under which they will clear all dues within 360 days after approving the facility for them by the banks concerned.

The default borrowers will also be able to reschedule loans by paying 2.0 per cent down payment for a maximum period of 10 years.

Mr Kamal also expressed hope that all the business people (loan defaulters) will return to their business soon.

"I believe we will get all of our businessmen with us. They will make a comeback and repay the money. We won't need to be harsh to them."

"I have one target - bringing back all the business houses and all the business people, even who have migrated from this country for a better living," he added.

Mr Kamal further said the cabinet meeting has approved a proposal for enhancing capacity as well as strengthening runway and taxiway of Shah Amanat International Airport, Chittagong.

At present, large aircrafts cannot take off and land in the airport due to its capacity constraint. A Tk 4.72-billion project has been taken to enhance the airport's capacity, he noted.

The committee also approved a proposal of the Power Division on energy efficiency and conservation. Japanese company Mitsubishi has been given the task of conducting a study at a cost of Tk 590 million under the project.



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