Muhith plans for reducing NPL

DHAKA, Sept 27, 2018 : Finance Minister AMA Muhith today said he is making a report in light of his long experience in the financial sector to give necessary guidelines to his successors, which will help reduce the Non-Performing Loan (NPL).

The finance minister disclosed the information in a meeting with leaders of the International Business Forum of Bangladesh (IBFB) at the Finance Ministry in the city.

IBFB President Humayun Rashid and directors of the forum were present at the meeting.

Muhith said the report is likely to be completed in November this year and it will give necessary suggestions to reduce the number of loan defaulters.

He underscored the need for increasing revenue collection, saying the country’s revenue-GDP ratio is one of the lowest in the world as the taxpayers do not pay taxes properly.

But the situation is changing as many people, especially the youth, are coming forward to pay their taxes, he added.

Responding to a question, the finance minister said the government will not face any challenges for quota cancellation in public service recruitment.