No more handouts for state banks

Finance Minister AHM Mustafa Kamal yesterday trumpeted that state banks would no longer be handed taxpayers’ money to meet their capital shortfall, in yet another sign from the government of its intent to stop pampering the errant lenders. “That is a thing of the past,” Kamal said after a meeting with the chairmen and managing directors of public bank at the planning ministry. From now onwards, banks will not be recapitalised; they will have to sustain themselves.