Some banks are reluctant to distribute loans from the coronavirus stimulus package, FBCCI has alleged, reports bdnews24.com. The Federation of Bangladesh Chambers of Commerce and Industry will inform Finance Minister AHM Mustafa Kamal about the banks’ reluctance to implement the package, FBCCI President Sheikh Fazle Fahim said. Fahim demanded that the government withdraw its deposits from these banks and increase the amounts of money deposited to the banks that are cooperating with the businesses. Speaking at a press conference on Saturday, he said the FBCCI will never recommend defaulters or delinquents for bank loans. He also sought an exemption for the banks that have ‘stood by the people’ from 1.0 per cent corporate tax. The FBCCI proposed a special arrangement for entrepreneurs of small, medium and cottage industries to get loans as most of them will not be eligible for the credits. Most of them work in the informal sector and it is important to bring them to the formal sector, he said. They will be able to enter the global market during Bangladesh’s graduation from least developed countries if they are given the opportunity to enter the formal sector in the next two years, Fahim said. He proposed the launch of an integrated automated revenue system by scrapping advance income taxes and expanding the tax net to boost tax receipts.
