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Govt to form committee for businesses

Decide on bank interest rate, global meltdown, weekly holiday Sunday

Staff Correspondent
The government will form a committee within 15 days to be headed by the finance minister to take decisions on rate of interest on bank loan, steps to combat effects of the global financial crisis, and on the demand for making Sunday weekly holiday.
"The committee will include lawmakers from both the treasury bench and the opposition, representatives of different chambers and associations," Finance Minister
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AMA Muhith told journalists after separate meetings with FBCCI and MCCI delegations at his office yesterday.
The minister also said the government would take decisions on resolving economic and business-related problems through public- private sector partnership.
The two delegations were led by FBCCI President Annisul Huq and MCCI Resident Abdul Hafiz Chowdhury.
Annisul Huq later told reporters, "We had two main demands - bringing down the rate of interest on bank loan and various charges to a tolerable level and announcing Sunday as weekly holiday. Weekly holiday in many Muslim countries including Pakistan and Indonesia is Sunday. We have been lagging behind the world by three and a half days every week as Friday is weekly holiday in our country."
The apex business body chief said the finance minister told them that the government would not take any decision regarding weekly holiday on Sunday right now. He asked them to build public opinion in this regard.
Abdul Hafiz Chowdhury said," Our recommendations concerned monetary policy and the policy on duty. Keeping the exchange rate and rate of interest on bank loan at tolerable level was also among our recommendations."
The MCCI president went on, “We have also asked the government to cut its borrowing from the banking sector."
Muhith told reporters, "The committee to be formed will play an import role to ensure that impact of the international financial crisis is not felt here. It will discuss rate of interest on bank loan, exchange rate and expansionary policy. Decisions will be taken on the basis of the discussions."
He said the Better Business Forum will also continue to function.