Payment of mega projects made from bank loan

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Payment of mega projects made from bank loan

State owned banks are purchasing huge amount of Dollar from Bangladesh Bank for meeting government expenses of mega projects as supply of dollar reduced drastically due mainly fall off remittance and halt export earnings.

As on Tuesday, the BB sold around $78 crore Dollar to state owned banks majority of which has been spent for government projects.

Sonali and Agrani bank have bought $2 crore 50 lakh Monday to make payment for purchasing machineries for Rooppur Nuclear Power Plant.

“The government took lent worth Tk 6,630 crore from four state owned banks,” a high official of a state owned bank said.

Until April 30, the government got loan amount to Tk 58 thousand crore from the banks, sources said.

In the annual budget of the current  fiscal year it was set to get Tk 47 thousand crore from banking sources but due to rise in the demand for loans it has been learnt that the target will be revised to an amount of Tk 78 thousand crore.

Experts claimed that megaproject like Padma Bridge, Rooppur and Rampal power plants have to pay despite pandemic going on.

There is not much pressure on the reserve as import and export nosedived and flow of remittance squeezed. The amount of forex reserve has been reduced to $32 billion from $33 billion in the first week of the current month after Asian Clearing Union (ACU) payments of $85 crore.

Bmirrorhttps://bmirror.net/
businessmirror20@gmail.com

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