‘Farmers still trapped in high-interest loans’

Staff Reporter :

Despite Bangladesh Bank’s allocation of Tk 30,000 crore in low-interest loans for farmers this year, only a fraction of them are reaping the benefits, alleged Consumers Association of Bangladesh (CAB) President AHM Shafiquzzaman on Friday.

Speaking at a press conference titled “CAB’s Activity Briefing” at Dhaka Reporters Unity (DRU), Shafiquzzaman claimed that powerful syndicates are forcing farmers to borrow money at high interest rates, undermining the central bank’s initiative.

“Whether marginal farmers are truly receiving the benefit of these loans remains a big question,” he said.

“Large syndicates have taken control, compelling farmers to borrow at exploitative rates. CAB will intensify efforts to dismantle these networks and ensure farmers get fair access.”

Clarifying CAB’s role, he noted that “It is not CAB’s responsibility to enforce the law. We identify irregularities, make policy recommendations, advise relevant authorities, and, when necessary, file writ petitions with the High Court in the public interest.

Administrative enforcement lies with agencies like the National Consumer Rights Protection, BSTI, the Food Safety Authority, as well as DCs and UNOs.”

At the event, CAB also unveiled its annual plan, pledging to build a more consumer-friendly market system. The plan includes nationwide online and offline campaigns to raise awareness and empower consumers.