We are greatly heartened by the finance minister's bold and timely (some may say very late) observation that government interference is responsible for the rise in the amount of classified loans, in the Sonali Bank in particular, and in other state-owned banks. We commend him for his candour and forthrightness. These are the traits that earn him our respect.

We have seen that the finance minister shows the gumption, occasionally, to call a spade a spade. He must have been aware of this state of affairs for some time. We assume it must have been its gigantic nature and the ever-increasing tendency that triggered his outburst.

Indeed, classified loans in the state-owned banks have been on the rise for many years despite the continuous rescheduling of loans, which should have convinced the government that the big and habitual defaulters have made "rescheduling" into a game and never intended to repay their debts at all. Experts have been repeatedly saying that the risk posed to our economy by the ill-discipline in the financial sector has actually been increasing gradually because of this tendency.

While we thank him for his frankness, we would be remiss if we did not bring to the notice of the minister the vital and central role of the finance ministry, and of the finance minister himself, in stopping the rot in the banking sector by addressing the problems that have been plaguing the sector for years. With that in mind, we hope that the ministry will take substantive action to improve the condition of not only our state-owned banks but also the financial sector as a whole by restoring discipline therein.