DUSHANBE, January 15, 2009, Asia-Plus — According to the national Bank of Tajikistan, 10 local banks, branches of two foreign banks (Iran’s Tejarat Bank and Kazakhstan’s Kazkommertzbank – Kazkommertzbank Tajikistan), 7 loan societies, and 93 microloan and non-bank financial institutions now function in Tajikistan. Compared to 2007 the overall volume of small and short-term loans provided to the population last year increased by 57 percent.
In the meantime, member of the Majlisi Mamoyandagon (Tajikistan’s lower chamber of parliament) Committee on Energy, Industry and Construction also leader of the Communist Party (CPT) Shodi Shabdolov considers that long-term loans with relatively low interest rates are needed for enhancement of the industrial and agrarian sectors.
According to him, short-tem loans may be used only for commercial transactions, “while production of industrial and agricultural goods requires more time than purchase and realization of commodities.”
Speaking in an interview with Asia-Plus, Mr. Shabdolov noted that setback in production of industrial and agricultural goods in the country had resulted from increase in the volume of goods being imported into country as well as rising electricity and natural-gas rates. According to him, such a situation puts domestic producers at a disadvantage.
“As a result of all this our domestic market is overloaded with imports and the negative trade balance has already exceeded 1 billion US dollars,” MP said.
