Business Desk :
Country’s businessmen have urged for an extended time period till 31 December to repay their loans as their business and economic activities have been hampered by the second wave of coronavirus.
Federation of Bangladesh Chambers of Commerce & Industries (FBCCI) has issued a letter urging the Bangladesh Bank Governor Fazle Kabir.
It said that most of the industries and businesses have not been able to pay installments being affected by the pandemic. Therefore, they want time to pay the instalments of their debts like the previous year.
Jasim Uddin, the new president of the organization, has requested in the letter that even if the businessmen fail to repay loans, the bank should not hold them as defaulters.
Appreciating Bangladesh Bank’s (BB) steps in facing the negative impacts of the pandemic, the letter said that BB has provided timely support in economy and policy which has helped to satisfactorily face the aftermath of the pandemic in economy satisfactorily.
The letter also mentioned that the businessmen got the opportunity throughout last year, but those conveniences are not available this year.
FBCCI has requested to continue those till last of this year as well.
It also added that if BB does not extend the time period of loan repayment, many organizations will unintentionally become defaulters which will have a negative impact on the economy.
Therefore, FBCCI requested not to downgrade the classification status of any borrower for defaulted loans till 31 December.
The central bank relaxed loan payment to face the negative impact on the economy due to the second wave of coronavirus.
