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Procurement of Eid hide and skin

Outstanding loans squeeze NCB lending capacity

By Shahriar Karim
The nationalised commercial banks (NCBs) have sanctioned Tk 127.75 crore for the procurement of hides and skins of sacrificial animals this year. Tk 50 crore lower than last year, as they are already burdened with huge outstanding loans given for this purpose In the previous years.
Last year the NCBs sanctioned a total of Tk 174 crore for hides and skins procurement.
This time the NCBs have sanctioned money to only those applicants who have fully paid back their loans taken last year, bank officials said.
But according to banking sources, some the of the NCBs have rescheduled loans of some of their clients.
Among the four NCBs. Janata Bank has sanctioned the highest Tk 65.75 crore this year followed by Sonali Bank (Tk 27.75 crore). Rupali (Tk 22 crore) and Agrani Bank (Tk 12.25 crore).
Agrani Bank has drastically slashed its amount for this year as it is already burdened with
By Shahriar Karim
huge outstanding loans disbursed last year for this sector, sources said.
Last year, the bank sanctioned Tk 69.35 crore, of which Tk 37.78 remains outstanding.
Sonali Bank disbursed
Tk 27 crore last year, which the bank authorities claim have been totally repaid. But according to sources, the bank has rescheduled some of its loans.
This year Agranl Bank okayed loans to four applicants. Sonali to four tanners while Runali to five. However, the number of Janata Bank loan recipients could not be affirmed.
According to banking sources, default loan In the country's leather sector has Increased alarmingly over the last five years with the total outstanding amount standing at some Tk 1.400 crore. Of this amount. Tk 816 crore is default.
A big chunk of the loans that have become overdue was disbursed for procuring raw leather during Eid ul Azha, sources said.
The outstanding loan
amount in June 1995 was Tk 996 crore, which rose to Tk 1.166 crore in 1996. The figure further swelled to Tk 1.216 crore in 1997 and slightly came down to 962.51 in 1998.
The realisation of outstanding loans bettered a bit 1998, but the situation again deteriorated In 1999 and the total dues till June '99 stood at Tk 1.400 crore, banking sources said. .
The main reason behind the huge outstanding loan, as some bankers think. Is the misuse of working capital taken by the leather sector entrepreneurs.
According to the banking circle, as the entrepreneurs unnecessarily take loans in excess to their needs, they buy raw leather at Inflated rates. "It won't be possible to adjust the price of raw leather with that of the international market, if this trend is not checked," a banker said.
Of the total yearly demand, the entrepreneurs collect some 40 per cent hide and skin during the Eid-ul Azha. Industry sources said.