Socio-economic condition of mass people getting worse due to Covid-19 effect: speakers


Speakers at a discussion meeting on microcredit financing have said that the socio-economic condition of the mass people has further deteriorated as the lower middle class are turning into lower class as an effect of the Covid-19 pandemic.

They also said it is the responsibility of the state to take care of the marginalized people of the society.

They made the observation while speaking at the first anniversary of the microfinance initiative——at National Press Club on Wednesday.

Social organisation Sakkhor—the mother organization of—organised the function with Sakkhor’s executive director Khaza Moinuddin in the chair.

It was addressed by National Professor and president of Bangladesh Diabetic Society Dr AK Azad Khan, former vice –chancellor of Patuakhali Science and Technology University Prof Abdul Latif Masum, The New Nation’s acting editor Mostafa Kamal Majumder and economist and chairman of Dhaka University’s Development Research Department Rashed Al Mahmud Titumir.

Sakkhor chairman and journalist Rafiq Hasan made a keynote presentation on the interest-free micro-financing activities of the

He said that his organization has been helping marginalized people of the society through interest-free loans for the last one year at a range from Tk 1000 to Tk 10,000.

But the recovery of the loans is 95 percent which is surprising as most marginalized people are very sincere in paying back the loans.

Appreciating the initiative, Dr AK Azad said such initiative would help the grass root people to get a recovery from the Covid-19 effect.

Prof Abdul Latif Masum said if the initiative is successful, many organizations will follow the path that would help reduce the poverty level.

Rashed Al Mahmud Titumir said though this is a personal or social level initiative to help the Corona-affected people to get the economic recovery, but this is the responsibility of the state to do this job.

He said a big section of our society is living in inequality where financial inclusion will not be successful.

Source: United News of Bangladesh