BB instructs banks to speed up payments owed to airlines

The Bangladesh Bank (BB) has instructed banks concerned to speed up payments owed to airlines, said Bangladesh Bank Acting Spokesperson Md Abul Bashar. 

"Various newspapers have reported that foreign airlines will get $214 million from various banks in Bangladesh. However, we have gathered information from the banks and learned that the airlines will get $177.79 million, not $214 million," Basher said at a press conference on Tuesday (6 June) afternoon.

He also said seven domestic and international banks owe money to foreign airlines. 

"We have reviewed and found that the respective banks have the ability to pay in dollars. We have already instructed the banks to take prompt action regarding the payment. Maybe the due amount will decrease in the next few days," he said.

According to the spokesperson, $402.18 million has been paid in the airlines sector from January this year to 6 June.

Mentioning that the government is considering selling fuel oil to the airlines in Taka to reduce the demand for dollars, Bashar said, "According to the circular of Foreign Exchange Operation Department [FEOD] of Bangladesh Bank, the airlines have the opportunity to pay the price of oil in Taka. 

"Currently, most airlines buy fuel oil in dollars from Bangladeshi oil companies. The government is thinking of doing this transaction in Taka to reduce the demand for dollars."