He made the disclosure after meetings of the cabinet committees on government purchase and economic affairs at the Secretariat on Wednesday.
A committee tasked with formulating a strategy to reduce lending rates has submitted its report, said Kamal. The central bank will soon issue a circular in this regard.
“We are trying to bring it (single-digit interest rates) into effect from Jan 1. Bangladesh Bank will issue a circular which will contain all the necessary guidelines. The finance ministry must also work on it.”
The business community has long called for interest rate on lending and deposit to be fixed at 9 percent and 6 percent respectively.
Prime Minister Sheikh Hasina, too, has called on banks to slash lending rates on many occasions to little avail.