Dhaka, April 30 -- Commerce Minister Khandaker Abdul Muktadir on Wednesday said the government will reduce the bank interest rates to help encourage new investment and sustain the existing business growth.

"Energy crisis and double digit-bank interest rates are the major problems facing industries," he said, adding that interest rates of 13 to 14 per cent are not conducive to labour-intensive sectors like textiles and garments, where profit margins remain low.

Regarding the gas shortage, he noted that the current government inherited the problem, citing a supply-demand gap of 1,400-1700 mmcfd.

The minister was speaking at the inaugural session of the four-day Bangladesh International Textile, Knitting and Garment Industry Exhibition (B...