Businessmen seek interest free loan

Staff Reporter :
Devastated by the Bangabazar fire, the apparel traders have lost everything and are now turning to the government for assistance in the form of interest-free loans, while also urging for an early rehabilitation at the same site, in a bid to rebuild their livelihoods once again.
The businessmen and shoppers made the appeal to the government on Wednesday while standing on the ashes of the Bangabazar blaze that gutted their last resorts on Tuesday.
Describing their heart-wrenching stories, they were telling the journalists about their investments, bank loans and how they will repay their credits now.
Businessman Didar Mia had taken a loan of Tk 15 lakh from the bank by mortgaging his house before Eid. Unfortunately, his three shops, along with other goods, were destroyed in the fire incident, leaving him with nothing.
“I am now in a dire situation, with no means to repay the bank loan and no way to refund the loan on installments,” he said.
“I appeal to the government for an interest-free loan to repay my bank loan. I also demand to rebuild our shops at the same location. This would allow me and other affected businessmen to at least sell the remaining clothes from our burnt warehouses,” he said.
Another businessman Jewel Hossain said that he has been doing business at Bangabazar since 1997 and today he has lost everything in the fire Bangabazar inferno
Businessmen seek interest free loan
Staff Reporter
Devastated by the Bangabazar fire, the apparel traders have lost everything and are now turning to the government for assistance in the form of interest-free loans, while also urging for an early rehabilitation at the same site, in a bid to rebuild their livelihoods once again.
The businessmen and shoppers made the appeal to the government on Wednesday while standing on the ashes of the Bangabazar blaze that gutted their last resorts on Tuesday.
Describing their heart-wrenching stories, they were telling the journalists about their investments, bank loans and how they will repay their credits now.
Businessman Didar Mia had taken a loan of Tk 15 lakh from the bank by mortgaging his house before Eid. Unfortunately, his three shops, along with other goods, were destroyed in the fire incident, leaving him with nothing.
“I am now in a dire situation, with no means to repay the bank loan and no way to refund the loan on installments,” he said.
“I appeal to the government for an interest-free loan to repay my bank loan. I also demand to rebuild our shops at the same location. This would allow me and other affected businessmen to at least sell the remaining clothes from our burnt warehouses,” he said.
Another businessman Jewel Hossain said that he has been doing business at Bangabazar since 1997 and today he has lost everything in the fire.
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“I don’t know how I will run my family. I had taken a loan of Tk 28 lakh. If I cannot repay it, I have to go to jail. So I appeal to the government to provide me interest free loans,” he said.
Another businessman told journalists that he had two shops in Bangabazar and has two others in Islampur. Before Eid-ul-Fitr, he had purchased products worth Tk 48 lakh and had also taken a loan of Tk 11 lakh from Brac Bank.
“I am not in a state to repay the loan. I have no other means to get rid of this dire situation without government’s assistance,” Nur Alam said.
Helal Uddin, the President of the Bangladesh Shop Owners Association, said, “Businessmen have incurred a loss of Tk 1,500 crore in the fire at Bangabazar. We have requested assistance from the government. The government has assured us. We hope to get compensation”.
The businessmen said that they want to turn back their businesses in the coming days especially in the upcoming Eid, but all their hopes have been dashed by the devastating fire.
The blaze has left many small business owners in a dire situation, with significant financial losses and uncertainty about their future, they rued.