The Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) president has urged the interim Government to prioritise reforms in the banking sector, which he described as riddled with corruption. Speaking at a roundtable discussion hosted by the Bangla newspaper Bangladesh Pratidin at Bashundhara City Conference Hall, Hatem highlighted the dire consequences of the current banking issues.
He pointed out that the problems originating during the previous Awami League administration have led to the closure of approximately 150-160 factories, resulting in the unemployment of hundreds of thousands of workers. Hatem warned that more factories are at risk of shutting down due to what he termed the “looting” of banks and the implementation of unsustainable loan classification rules.
Additionally, Hatem cautioned against strict adherence to conditions set by the International Monetary Fund (IMF), arguing that such measures have historically crippled many developing economies. He criticised the IMF for failing to provide effective recommendations for national improvement, urging the Government to selectively adopt only the beneficial suggestions.
Hatem also emphasised the importance of setting clear goals for the country’s graduation from Least Developed Country (LDC) status.
