BSCIC seeks loans for salt farmers on concessional terms

BSCIC has sent a letter to seven banks in Cox's Bazar requesting them to provide soft loans to salt farmers at 4 percent interest on concessional terms under agricultural products.

BSCIC made the request to the banks to shore up the salt farming and to help the hapless producers, according to a press release on Tuesday.

The letter was issued by the Bangladesh Small and Cottage Industries Corporation (BSCIC) Salt Industry Development Office in Cox's Bazar. The banks are Sonali Bank Ltd., Bangladesh Krishi Bank Ltd., Agrani Bank Ltd., Janata Bank Ltd., Rupali Bank Ltd., Basic Bank and Karmasangsthan Bank located in Cox's Bazar.

The letter, sent by Muhammad Hafizur Rahman, Deputy General Manager, BSCIC Salt Industry Development Office, said that 28,791 salt farmers are cultivating salt in 57,722 acres of land during the current salt season. The salt industry, like many other industries in the country, is suffering due to the global epidemic of coronavirus. Due to the lockdown across the country, salt production activities have been continued by ensuring private health protection under the guidance of the local administration. But the farmers are not getting a fair price of salt. At present the price of salt is about half the cost of production. As a result, the domestic agro-based salt industry has suffered severe losses.

The letter further said that Prime Minister Sheikh Hasina has already announced special incentives for small and cottage industries. Besides, the Agriculture and Rural Credit Policy and Program of Bangladesh Bank for the fiscal year 2019-2020 contains instructions to provide easy loans to salt farmers in the coastal areas of the country. It also shows salt cultivation as a sub-sector. Overall, there is an opportunity to provide loan at 4 pc interest rate to the salt farmers by recharging the interest loss paid by the government.

sr/wi/teb