Finance Minister AHM Mustafa Kamal has addressed two critical issues - savings certificates and agricultural loans at the parliamentary session on Monday.
He was responding to questions raised by opposition member of Parliament Mosiur Rahman Ranga during the session, which was chaired by Speaker Dr. Shirin Sharmin Chowdhury.
The minister stated unequivocally that there are no plans to enhance the facilities provided to investors in savings certificates. He highlighted that the reduction in the profit rate of savings certificates has not led to a decrease in the number of small investors.
In fact, it has incentivized investments of up to 15 lakh taka, as the rate of return on National Savings Certificates remains attractive compared to the declared rates on fixed deposits offered by financial institutions in the market. Consequently, there is no imminent plan to increase the benefits for savings bond investors.
Furthermore, in response to a question from Syeda Rubina Akhter, Member of Parliament for reserved women’s constituency-28, the Finance Minister affirmed that no agricultural loans for farmers have been waived during the third term of the current government.
The Finance Minister explained that banks distribute funds collected from depositors as agricultural loans to farmers, and these loans are subject to repayment with interest.
It is not within the bank’s purview to waive these loans.
However, he noted that if any special directives are received concerning the waiver of agricultural loans disbursed through state-owned commercial or specialized banks in the future, they will be implemented accordingly.
The Finance Minister’s statements provide clarity on the government’s stance regarding savings certificates and underline its commitment to prudent financial management and equitable policies in support of both small investors and the agricultural sector.