Dhaka: Finance Minister Amir Khosru Mahmud Chowdhury on Sunday emphasized that while individuals accused of corruption may face legal proceedings and potential punishment, this should not automatically result in the closure of companies they are associated with. Speaking in Parliament, Khosru highlighted the government's commitment to pursuing legal action against those involved in corruption, stressing the importance of separating individual wrongdoing from company operations.
According to United News of Bangladesh, Khosru responded to a supplementary question from NCP MP Abdul Hannan Masud, stating, "At the same time, you have to keep the company separate and allow its activities to continue, whatever company it may be." He underscored that economic management should be guided by laws and established principles rather than emotions, asserting that companies must be treated as distinct legal entities separate from their owners.
Khosru elaborated on the legal separation between companies and individuals, asserting, "A company's identity is separate from the identity of individuals. It is a legal entity, a corporate entity." He cautioned against the broader economic consequences of shutting down companies due to alleged wrongdoing by individuals, noting the potential impact on employees, creditors, and other stakeholders.
The Finance Minister pointed out that companies play a vital role in the economy by providing employment, bearing liabilities, and contributing to the national economy. "If you close down any company because of an individual and people are employed there, that company has liabilities and has to repay its loans. That company has a contribution to the economy," he stated. Khosru warned that indiscriminate company closures could disrupt economic stability and employment.
While emphasizing the need to separate companies from personal wrongdoing, Khosru clarified that this does not imply immunity for those involved in corruption. "Those involved in corruption are not being spared. Cases are being filed against each of them and those cases will continue. They will face trial for their personal corruption," he affirmed.
On the issue of bank loans, Khosru assured that Bangladesh Bank operates within legal frameworks and does not provide loans in violation of the law. He mentioned that companies could access loan rescheduling facilities where permitted by existing laws and regulations, ensuring that legal opportunities are available for those who qualify. "Where there is an opportunity for rescheduling, they are being allowed to reschedule. The companies that can avail themselves of the opportunity under the law will do so, and those that cannot will not," he concluded.