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Stay orders stall Tk 30,000cr loan recovery: Saifur

Staff Correspondent
Finance and Planning Minister M Saifur Rahman yesterday told the Jatiya Sangsad that the government is facing problems in recovering default loans amounting to about Tk 30,000 crore mainly due to stay
orders of court.
Speaking on separate point of order, a number ruling BNP lawmakers also alleged the judiciary, especially the Supreme Court, is interfering in parliamentary affairs which they said is beyond the court's jurisdiction.
The allegations came during the last working day's session of the 16th session of parliament which was prorogued yesterday. The session began on May 12.
Replying to a question on the recovery of default loans, the finance minister said, "Whenever we take any initiative to recover default loans, the court either issues stay orders or injunctions asking to halt the process."
He said the court sometimes delays issuing copies of verdicts, which are in favour of the government to recover default loans. "When the government moves to recover the loans, defaulters go to court and get a stay order or an injunction."
The minister said commercial banks are now being compelled to fix high interest rates to offset their losses incurred due to default loans.
Seeking cooperation of all in recovering the huge amount of default loans, Saifur said, "Previous governments also tried to recover the default loans, but failed. I am also trying...but this is not possible for me alone."
LAWMAKERS ON JUDICIARY
The ruling BNP lawmakers told the House that the judiciary has been interfering in the activities of parliament.
Monirul Haq Chowdhury, who is also a member of the parliamentary standing committee on commerce ministry, referred to a stay order by court that had hampered a parliamentary subcommittee's investigation of corruption.
"Recently the subcommittee sought information from Bangladesh Bank and the National Board of Revenue. But they did not furnish information as there is a stay order from the High Court on the matter we are investigating," he said.
"The stay order has halted enquiry of the subcommittee. This is an interference in parliamentary affairs," said the lawmaker seeking the speaker's ruling in this regard.
Another BNP lawmaker, Manzur Quader, narrated similar experience of the Public Accounts Committee of which he is a member.
He said the committee has recently recommended disciplinary actions against a number of civil surgeons for corruption. "The civil surgeons have been found guilty in investigation by the Public Accounts Committee, but the health ministry has failed to take any actions due to a stay order by the High Court," he said.
Chief Whip Khandaker Delwar Hossain taking part in the unscheduled discussion said the constitution has defined the power and jurisdiction of the judiciary and parliament precisely. The judiciary cannot interfere in the activities of parliament.
He urged the speaker to form a special parliamentary committee to examine the matter relating to the judiciary-parliament relations.
Law Minister Moudud Ahmed also supported the chief whip's idea.
On the lawmakers' demand of ruling, Speaker Jamiruddin Sircar said, "I do not want any confrontation with the court by giving a ruling." AGRI SUBSIDY
A number of BNP lawmakers yesterday asked the government to provide subsidy in agricultural sector in the coming budget. But the finance minister said, "We have a plan to give support to the agriculture sector, but I do not want to term it subsidy."
He said the government cannot give subsidy to agriculture due to the World Bank's reservations about it.
When a lawmaker referred to agricultural subsidy in the developed countries, the minister said, "They give subsidy from their own money. But we take money from the World Bank and it told us not to give subsidy from its money."
In reply to another question, the minister told the House that the government has repaid foreign loan of Tk 3,304 crore in the 2003-04 fiscal year including an interest of Tk 960 crore.
He said per capita income in Bangladesh rose to $444 in 2003-04 from $344 in 1995-96.