The loan of commercial banks to 20 state-owned institutions is Tk 398.34 billion. Of this, the default loan is Tk. 1.11 billion. The banks, Sonali, Janata, Agrani, Rupali gave loans to state institutions and are currently in a precarious position.
The highest is by Bangladesh Power Development Board, which has a loan of Tk 114.20 billon.
The organisation with the second biggest loan is Bangladesh Sugar and Food Corporation with Tk 60.52 billion.
Economists say that government corporations did not make the optimum use of loans. Due to political influence, mismanagement, unnecessary interference, overstaffing, excess expenditure and failure to produce quality products, these institutes are facing regular losses.
Former adviser to the caretaker government, AB Mirza Azizul Islam, said: “Once corruption is reduced, the maladies can be addressed; since these organisations do not have good governance they cannot escape losses and are failing to return the loans to the banks.”
The sugar and food industry’s loan stands at Tk 60.52 billion and most of the loan was taken from Sonali Bank.
The loan of Bangladesh Petroleum Corporation is Tk. 44.56 billion while Bangladesh Chemical Industries Corporation, BCIC’s loan is Tk. 51.29 billion.
In the same manner, loans of other institutions are: Tk 20.96 billion from Bangladesh Oil, Gas and Mineral Resources Corporation, Tk. 11.50 billion from Rural Electrification Board, REB etc.
The outstanding loan from Bangladesh Textile Mills Corporation, BTMC is Tk 219 million of which Tk 217.7 million is default loan.