Govt to form panel to rein in interest rate, says finance minister

  • Senior Correspondent,
    Published: 2019-12-01 17:03:33 BdST


The government is set to form a panel with the task of bringing interest rates down to a single digit, Finance Minister AHM Mustafa Kamal has said

“A seven-strong committee led by a deputy governor of the central bank will be formed by the end of the day,” said Kamal after a meeting with leaders of the banking sector on Sunday.

The panel will consist of chairmen and managing directors of public and private banks, said the finance minister.

“The committee will submit a strategy on reducing the interest rate to the governor of the central bank within a week.”

Business leaders have long called for lending and deposit interest rates to be brought down to 9 percent and 6 percent respectively.

Prime Minister Sheikh Hasina too has called for lending rates to be slashed on many occasions to little avail.