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Loan for rawhide 18pc less this season

Banks consider poor recovery of last year's Ioans

Rejaul Karim Byron
The state-owned banks (SOBs) are giving 18 per cent less loan to leather sector this Eid-ul-Azha season compared to that of last season as previous loans to this sector were not repaid and prices of leather goods have slumped in the global market.
Besides, leather traders have decided to buy rawhide this time at prices 60 per cent lower than the prices last Eid season. They took this decision at a meeting yesterday.
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Three SOBs - Sonali , Janata and Agrani — will provide loans of Tk 275 crore to leather sector this season while they gave Tk 336 crore last season.
Another SOB- Rupali Bank-- is not giving any loan to this sector this year also as in the previous year.
The four SOBs used to provide 95 per cent of total loans given to leather sector in the past
Sonali Bank will give Tk 25 crore loan this year as against Tk 48 crore last year. Janata Bank will provide loan of Tk 150 crore against last year'sTk 163 crore.
Agrani Bank will provide Tk 100 crore loan to this sector this time while it gave Tk 125 crore last year.
Contacted, Janata Bank Managing Director SM Aminur Rahman said they have decided to reduce the loan in view of international and local market situation. They are giving loans only to those traders who repaid lastyear's loans. But the amount of loans has not been enhanced.
"Though leather price in the global market is low now, we expect the situation will improve in the next nine months,"he added.
Bangladesh Finished Leather Goods and Footwear Exporters Association President Rezaul Karim Ansari said, "Today (Saturday) we decided at a meeting that this year we will buy rawhide at Tk 25 -30 per square foot. Last year, we boughtitforTk60-70."
Leather prices have almost halved due to the global financial crisis. As a result, they .have decided to buy rawhide at lower prices, Ansari said.
He urged the SOBs to increase the amount of loans to leather sector. He said a huge quantity of leather goods produced last year is still to be exported. Many international buyers have cancelled their orders.
SOB sources said they could not enhance loans to leather sector due to its defaulted loans, which total aboutTk 2,000.
A high official of Rupali Bank said they have more than Tk 300 crore defaulted loans to leather sector. So, they could not provide any loan to this sector for the second consecutive year. But as per the government's new leather policy, they have rescheduled loans to two firms, headded.