Muhith stresses planned development of housing sector
BHBFC expected to make Tk 126cr profit in outgoing fiscal
Dhaka, June 23 (UNB) – Finance Minister AMA Muhith on Saturday stressed the need for planned development of the housing sector in the country and asked the Bangladesh House Building Finance Corporation (BHBFC) to carry out their activities keeping in mind the future prospects.
“Formulate your (BHBFC) plans keeping in mind the country’s future prospects,” he said while addressing a reception organised to honour the best loan payers of the Corporation on the BHBFC Bhaban premises.
Bank and Financial Institution Division secretary Shafiqur Rahman Patwari spoke on the occasion as a special guest while BHBFC managing director Dr Md Nurul Alam Talukder delivered the address of welcome. BHBFC chairman M Yasin Ali presided over the function.
The Finance Minister said there is a bright prospect for the country’s housing sector and it needs planned development. He said the present government has increased the capital of the corporation as well as planning to increase its branches.
Muhith also underscored the need for finding out ways to develop the housing industry alongside making arrangements for financing.
In this regard, he directed the Corporation officials to go for innovative ways for financing. The Finance Minister said the Corporation, if necessary, could also sit with the private sector housing financiers to seek their cooperation in development of the housing sector.
About the demand for budgetary grants, Muhith said it was not a realistic proposal as it would be more like subsidy.
Shafiqur Rahman Patwari underlined the importance of improving the standard of services of the Corporation as well as imparting timely training to its staff.
Emphasising the need for recasting the corporation, BHBFC chairman M Yasin Ali observed that the corporation could not be expanded as it should have been even after 60 years of its inception.
He called for increasing the individual loan ceiling of the Corporation considering the country’s present socioeconomic condition.
Earlier, the Finance Minister handed over crests to five best loan paying individuals of the corporation. They are Md Mosharraf Hossain, Liakat Hossain Bhuiyan, Abdul Hakim, Saleha Begum and Shahidur Rahman.
Set up in 1952, the BHBFC was reconstituted in 1973 as the country’s lone public sector lending institution for the housing sector.
According to the BHBFC sources, the corporation made a profit of Tk 112 crore in the 2010-11 fiscal and it is expected to make a profit of Tk 126 crore in the outgoing fiscal year.
“Formulate your (BHBFC) plans keeping in mind the country’s future prospects,” he said while addressing a reception organised to honour the best loan payers of the Corporation on the BHBFC Bhaban premises.
Bank and Financial Institution Division secretary Shafiqur Rahman Patwari spoke on the occasion as a special guest while BHBFC managing director Dr Md Nurul Alam Talukder delivered the address of welcome. BHBFC chairman M Yasin Ali presided over the function.
The Finance Minister said there is a bright prospect for the country’s housing sector and it needs planned development. He said the present government has increased the capital of the corporation as well as planning to increase its branches.
Muhith also underscored the need for finding out ways to develop the housing industry alongside making arrangements for financing.
In this regard, he directed the Corporation officials to go for innovative ways for financing. The Finance Minister said the Corporation, if necessary, could also sit with the private sector housing financiers to seek their cooperation in development of the housing sector.
About the demand for budgetary grants, Muhith said it was not a realistic proposal as it would be more like subsidy.
Shafiqur Rahman Patwari underlined the importance of improving the standard of services of the Corporation as well as imparting timely training to its staff.
Emphasising the need for recasting the corporation, BHBFC chairman M Yasin Ali observed that the corporation could not be expanded as it should have been even after 60 years of its inception.
He called for increasing the individual loan ceiling of the Corporation considering the country’s present socioeconomic condition.
Earlier, the Finance Minister handed over crests to five best loan paying individuals of the corporation. They are Md Mosharraf Hossain, Liakat Hossain Bhuiyan, Abdul Hakim, Saleha Begum and Shahidur Rahman.
Set up in 1952, the BHBFC was reconstituted in 1973 as the country’s lone public sector lending institution for the housing sector.
According to the BHBFC sources, the corporation made a profit of Tk 112 crore in the 2010-11 fiscal and it is expected to make a profit of Tk 126 crore in the outgoing fiscal year.
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