Owing to an increase in import costs of industrial raw materials and capital equipment and low lending rates, industrial credit disbursement in the July-September quarter of 2022 in Bangladesh increased by 23% to Taka1.31 lakh crore year-on-year.
This is as per reports, which citing the bankers, underlined import costs have increased in the industrial sector lately on account of increase in the price of goods in the global market even as on the other hand more money is also required in LC payments due to an increase in dollar prices in Bangladesh, which also has led to a surge in industrial loans.
Meanwhile, as per data from Bangladesh Bank, Bangladesh’s central bank, the July-September import settlement of the current fiscal year 2022-23 has increased by 35% compared to the previous fiscal year even as import LC settlement for the current financial year (July-September) was US $ 22.44 billion, up from Taka17.06 billion in the same period of the previous financial year while in the first three months of the current financial year, the import of capital machinery has increased by 57.34% year-on-year and the import of industrial raw materials by 26.96 per cent.
