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Miasnikovich calls to hold banks liable

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Miasnikovich calls to hold banks liable
Mikhail Miasnikovich
PHOTO BY BYMEDIA.NET

Chairman of "the Council of the Republic" calls to punish banks for no assistance to enterprises of Brest region.

Mikhail Miasnikovich said it at the meeting on problematic enterprises in Brest region, select.by writes.

According to the Chairman, Prime Minister Andrei Kabiakau has decided upon the enterprises, but the Finance Ministry and banks fail to fulfill their requirements. But he has not specified the requirements, but apparently talked about budget funds and bank loans.

Miasnikovich stressed that "the financial sector must create comfort conditions for development of a real sector of the economy, but not only toughen requirements and restrict financial assistance".

However, banks are reluctant to do this, it caused indignation of the Chairman. In this regard, he remarked that "today there are grounds to raise the question of bringing representatives of financial and credit sector to justice for failure to comply with those decisions adopted by the Government, the National Bank, the monitoring group. Discipline in enterprises, in his opinion, should cover not only the sphere of material production and directors, but those working in the financial sector".

The reason for the caution of banks is clear: enterprises suffer financial squeeze and there are risks of non-repayment of credits. In particular, the Polesie has accumulated huge stocks. Brest lamp factory experiences difficulties due to lower demand for its products in the Russian market. Large amounts of details released by Baranavichy plant for the Minsk tractor plant, equaled to billions of rubles, are not paid.

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