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Poor BKB performance draws Saifur wrath

STAR BUSINESS REPORT
Finance and Planning Minister M Saifur Rahman yesterday lashed out at the Bangladesh Krishi Bank (BKB) for its poor performance and corruption.
He also criticised the bank officials for filing certificate cases against the poor farmers and taking bribes while sanctioning loans to them.
"The practice of taking bribe in sanctioning loans is rampant in BKB and it must be stopped," the minister said while addressing the 35th national conference of regional and divisional heads of the bank at a local hotel.
Finance Secretary Zakir Ahmad Khan, Chairman of BKB Ahbab Ahmad and Managing Director AKM Sajedur Rahman also spoke at the
conference.
"I am not hopeful with the performance of the bank as you take 10 per cent at the time of giving loan to the poor farmers," the finance minister told the BKB officials.
He asked the BKB to invest more in the sectors like hatchery and export-oriented agro and fruit processing industries rather than investing in cold storage.
Saifur mentioned that agriculture is the main pillar of Bangladesh economy as it alone contributes significantly in the GDP.
Underscoring the need for initiating production oriented banking, the minister said the BKB has to play significant role in the betterment of the rural people.
The finance minister criticised the local media for highlighting the news and photos related to crime and atrocities, rather than economic
development and achievements.
About the achievements he said Bangladesh has so far succeeded to a great extent in increasing its GDP and improving human development status.
He mentioned that such achievement was better than many countries in the world and appreciated by the development partners.
Finance Secretary Zakir Ahmad Khan said the BKB has to play a significant role in achieving the government's target of poverty reduction.
He asked the officials concerned to concentrate more in extending loans to agro-based industries and small and medium enterprises.
BKB disbursed loans amounting to Tk 1,668 crore and recovered Tk 1,920 crore loan during 2002-03 fiscal year.