No more capital support to state banks: Finance Minister
Asking state-run commercial banks to reduce their losses, Finance Minister AHM Mustafa Kamal on Sunday made it clear that the government would no longer provide the financial institutions with budgetary support to help them meet capital deficit.
Emerging from a meeting with the chairmen and the managing directors of the public banks, he further directed the institutions to make a profit by a minimum of 15 percent.
The minister, replying to a question at a press briefing after the meeting, called upon all commercial banks - both public and private ones - to lower interest rates to single digit.
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A circular will be issued soon in this regard, he added.
The finance minister sat with the chairmen and the MDs of the state banks at the National Economic Council auditorium in the capital.
He will again sit with the chairmen and the MDs two weeks later to discuss plans on how to operate the banks.
