DHAKA: Private Industry and Investment Adviser to the Prime Minister Salman Fazlur Rahman said that long-term financing is imperative for the development of private sector.

“We are mostly dependent on commercial banks for any financing but we don’t assume that banks are not reliable source for long-term financing,” he said while speaking as the chief guest at the “Local Capital Market Infrastructure Financing Conference.”

Dhaka Chamber of Commerce and Industry (DCCI) and Guarant Co, a Private Infrastructure Development Group (PIDG) company by UK, jointly organized the international conference at Radission Hotel in the capital on Sunday (April 28).

Salman said some initiatives were previously taken for solving the existing problem for long-term financing but they did not prove effective.

He, in this regard, stressed the need to have a strong bond market in the stock market to facilitate long-term financing for the industries as well as infrastructures.

BDST:  2154 HRS, APRIL 28, 2019

AH