Saifur also warned the nationalised commercial banks (NCBs) that opportunists may try to get bad projects passed by the banks before the elections.

While speaking at Janata Bank's 'Annual Conference 2006' at Bangladesh-China Friendship Conference Centre in Dhaka, Saifur said, "We must have enough stock of petroleum to keep things running and for that we must have adequate foreign exchange reserve. If we still have some reserve left after meeting that demand, we can spend it on investment purposes."

"Our priority is to maintain adequate forex reserve for fuel import," he said, adding that the banks will have to make future commitment by taking into account the immediate foreign currency need.

As oil prices climbed up manifold in the international market, Bangladesh is being forced to spend huge amount of foreign currency on importing fuel. The biggest NCB, Sonali Bank, is now in dire straits after financing the petroleum import, he pointed out.

Towards the end of every government's tenure, a section of opportunists get bad projects passed by influencing or manipulating the bank management, he said. "I won't be surprised if I see you are also receiving many such proposals. As we are already in pressure due to oil price hike, you must be very alert to prevent any such incident," he cautioned the bankers.

Pointing to the fact that the banks usually file cases against the small defaulters and leave the big ones undisturbed, Saifur directed the finance secretary to prepare a list of the defaulters against whom cases have been filed as well as of those who are being favoured.

Managing Director of Janata Bank SM Aminur Rahman described the bank's performance in 2005. "Janata Bank has made an operative profit to the tune of Tk 330 crore, which is the highest in Janata Bank's history," Rahman said.

The bank has also brought down the amount of its classified loan by 6 percentage point and it now stands at 11 percent, Rahman said.

Bangladesh Bank Governor Salehuddin Ahmed, Finance Secretary Siddiqur Rahman Chowdhury, Chairman of Janata Bank Khandaker Shahidul Islam and Deputy Managing Director of the same bank Mijanur Rahman also spoke at the conference.