We have to see if FM can decide and implement

IN an apparent belated realization, the Finance Minister AMA Mubith has finally pointed fingers to the political¬ly appointed (Erectors of the state-owned banks for a series of loan scams over the last several years. He acknowledgol that there are always some persons appointed by the government on political consideration in the banks.He went on saying that directors of state-owned banks were Wad involved in loan scandals and misappropri¬ation offends. He said that he is planning to prepare a criteria for appointment of directors to avert such utmarranted situations in the frame. He also blamed Bangjadesh Bank for poor monitoring of the banks. But critics said these reakations by our octogenarian Finanee Manister would not bring any benefit to the ail¬ing state-owned banks inundated by loan scandals, if no action is taken. Otherwise such things would continue to happen and the financial sector would bear the brunt, they said Ina surprising note, newspapers reported that, Kazi Fn. Rashid MP from the Mohaiut alliance has directly accused the FM for bard, scams. Such kind of allegations from within the government gives a strong signal that something is terribly wrong with the FM. We believe that a much quickerrealization of the realsit¬nation at the field by the government could have saved the state-owned banks. MIS, FM’s remarks sound very hollow, when the government could not yet recover a single penny from the Hall-Mark Group since the mas¬sive irregularities by the bank management and dishon¬est offisals of Hall-Mark Group were detected in norm Even the government has not dissolved the board of directors Why Chairman Sheikh Abdul tlye Bachdau in BASIC Bank despite recommendations by the Bangladesh Bank almost a month ago. Mr. Muhith’s findings would be meaningful only when the errant directors would be brought to hook. Another thing is not understandable is why Bangladesh Bank is so much lenient. It is an independent organisation If it works like a party apparatus obeying party leaders. Nationalised Banks have become a looting spot of public money by the party in powers mm.Finance Minister at lastcome to a right conclusion but is be the person who shall he able to decide and imple¬ment, that is the big question. The general impression ministers do not decide, the PM’s advisers do. Flnance Minister should not suffer from illusion of success, he is there to take the blame of failures.