However, rising interest rates have hampered the plans of the fully export-oriented and publicly listed company, reports bdnews24.com. Shasha Denims is not the only company affected by these high interest rates. Despite recommendations from economic analysts to let market forces dictate interest rates and raise the policy rate, the '9-6' interest cap remained in place. Syed Nasim Manzur, president of the Leather Goods and Footwear Manufacturers and Exporters Association of Bangladesh, said: "No country with double-digit interest rates sees its businesses profit. He attributed the hike to the $4.7 billion IMF loan, which increased interest rates, impacting businesses negatively.

Source: bd News24 October 12, 2024 18:53 UTC