Dhaka, Feb. 15 -- Like state-owned commercial banks (SoCBs), the government has decided to issue state guarantees in favour of private commercial banks (PCBs) too to facilitate import of essential commodities, aiming to ensure smooth supply of such items in the local market, sources said.

However, such security will be provided in local currency only to the banks with good ratings, they added.

The ministries of power, energy and mineral resources, food, commerce, industries, and agriculture can take the next course of action to open letters of credit (LCs) with private banks for importing rice, LNG and fertiliser.

The decision came at a meeting held on February 3, with Finance Adviser Salehuddin Ahmed in the chair.

Under this move, Th...