Underlining the small and medium entrepreneurs were amongst the most affected by the COVID-19 pandemic, the President of the Federation of Bangladesh Chambers of Commerce and Industries (FBCCI) has sought extension of loan moratorium till June.
Media reports maintained this adding at a recent FBCCI event, attended by business leaders, FBCCI President Jashim Uddin, reportedly, stated around 40 per cent to 50 per cent businesses in the country will become defaulter if not given six months more time to repay instalments of the stimulus loans.
Jashim Uddin further, reportedly, added banks are reluctant to provide small loans to small and medium enterprises as they think it is not profitable to provide small loans even as he, reportedly, underlined bank’s policy of lending to big business sector reduces the manpower and cost of the bank, and this idea is wrong he said, as it, reportedly, increases the risk of bad debt.
