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PM: People could not benefit much from microcredit

  • Published at 02:28 pm November 14th, 2019
Prime Minister Sheikh Hasina inaugurates 'Development Fair 2019,' organized by the Palli Karma-Sahayak Foundation (PKSF), at Bangabandhu International Conference Center (BICC) in Dhaka on Thursday, November 14, 2019 Focus Bangla

The prime minister expressed her firm conviction to make a poverty-free Bangladesh

Prime Minister Sheikh Hasina has said some people earned name and fame by introducing themselves as proponent of microcredit, but reality is that people of Bangladesh could not benefit from it much.

The prime minister made the remarks while inaugurating Development Fair 2019, organized by the Palli Karma-Sahayak Foundation (PKSF) at Bangabandhu International Conference Centre (BICC) in Dhaka on Thursday.

“Once upon a time we witnessed some people trying to take applause with microcredit and we had extended our support to them as we thought people will be lifted out of the poverty line [through the help of microcredit],” she said, reports BSS.

She continued: “After giving the issues much thoughts, we realized that poverty alleviation is not possible through the use of microcredit, rather it (poverty alleviation) is nurtured.”

The premier pointed out that Father of the Nation Bangabandhu Sheikh Mujibur Rahman had launched the microcredit scheme in the country, after the independence of the country, through Bangladesh Rural Development Board (BRDB) to boost production of agriculture products and market those properly by uniting the people through cooperatives.

In this connection, she said some people, however, have earned name and fame by introducing themselves as proponent of the microcredit. “But reality is that the people of Bangladesh could not benefit from it to a great extent,” she added.

The prime minister also expressed her firm conviction to make a poverty-free Bangladesh as hunger has already been eradicated from the country, reports UNB.

“We have been able to free the country from hunger. So, now we will have to make it completely poverty free,” she said at the same event.

Sheikh Hasina said the government is implementing 125 programs under the social safety net. Around Tk74,000 crore is being spent from the national budget for the social safety net to alleviate poverty.

“We have been implementing these programs to strengthen social empowerment. The rural and grassroots people are getting benefits from these programs,” she said.

Sheikh Hasina said Awami League prepared the action plans to fight poverty even when it was in the opposition.

The PM said poverty rate declined to 21% from 41% in 2006. “But our goal is to bring it down to at least 15% to 16% so that Bangladesh will not remain poor and can run standing on its own feet. Inshallah, we will be able to do so,” she said.

The PKSF has arranged the seven-day ‘Development Fair-2019’ with a view of expanding the market of products made by marginalized people and participants of different programs of PKSF.

Finance Minister AHM Mustafa Kamal was present as the special guest at the inaugural function, while PKSF Chairman Dr Qazi Kholiquzzaman Ahmad presided over it. PKSF Managing Director Mohammad Moinuddin Abdullah delivered the welcome address at the event, reports BSS.

Ministers, advisers to the prime minister, parliament members, diplomats, distinguished persons and high civil and military officials, among others, were also present at the function.

At the function, lifetime achievement award was given to former agriculture minister Begum Matia Chowdhury for her outstanding contributions to the development of agriculture, ensuring welfare of the farmers and alleviating poverty.

Matia Chowdhury received the award — a citation, crest and a cheque of Taka 50,000 — from the prime minister.

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