"We've an abundance of natural gas and coal alongside a unique geographical setting. And on top of these, we have a port that offers immense prospects.

"I firmly believe we would be the first one to achieve the envisaged target of sending poverty to the museums by 2030 if we can take advantage of the resources in reserve and build a mega-seaport and an airport," he said addressing a seminar in the port city yesterday.

Bangladesh Economic Association (BEA), Chittagong organised the discussion on "the microcredit of Zobra and a poverty-free world" at the auditorium of Engineers Institute, Chittagong.

"By setting up a mega seaport and an airport we'll be able to turn the country into an international crossroads, and not only the neighbouring countries like Nepal, Bhutan or the eastern states of India but also China would be interested to use the facilities," Dr Yunus observed.

"It would be even more viable economically if the two could be built in close proximity," he said adding, "We must start the work without delay."

Referring to location of the proposed mega seaport and airport, he said, "We have the exact location. It can be either offshore Maheshkhali or any adjoining site along the Bay of Bengal."

Terming the basic structure of the open market economy incomplete, he observed that incorporation of the concept of social business in it could complement it.

"The social business that Grameen Bank had started with pro-people projects like Grameen-Danone is meant to work for the benefit of the poor and such business should be on no profit, no loss basis," he said elaborating on his point.

About 'Shakti Doi' (yoghurt) produced at Grameen-Danone factory, he said,"It's a great venture that caters for nutrition needs of the children living in poverty but we must stay alert so that the product does not reach the richer segments of the society in Dhaka, Chittagong or other big cities.

"We have plans to build many more institutions or firms like Grameen-Danone where the poor will own shares," he announced amidst huge applause from the crowd.

The winner of Nobel Peace Prize 2004 emphasised the need for detecting the reasons for poverty first and urged all to work together to do away with those.

On the allegation that Grameen Bank charges higher interest rates, he said, "It concerns all of us and we always try to keep the rates as low as possible."

"The Bank had set out to ensure the wellbeing of the poor not to suck money from them," he said adding, "It's remarkable that they [poor] are the real owners of this bank and the profit it makes goes directly into their purse, not into the pockets of bank staff."

Former adviser of the caretaker government Dr Akbar Ali Khan in his speech lauded Dr Yunus for his unique ideas. He said the microcredit pioneer has proved that the poor never fail to return loans while the richer ones gobble up the loan money quite frequently.

"His compassion for the poor, his close association with them and his simple lifestyle have taken him to new heights and the success of the Grameen Bank lies in its rare excellence in management capacity," Dr Akbar said.

Terming Yunus a fighter economist, he said that the Grameen Bank today is not only a successful and competent institution but also a social movement and all this has been possible because of some new ideas, conceptions and visions.

"Dr Yunus was the first one to discover something extraordinary in our poor women who in return have stunned the world with their creativity and that too in a seriously gender-discriminated society like ours," observed the former finance adviser.

Citing the disorderly situation in the loan system at nationalised commercial banks (NCB), he said,"The finance ministers who speak loud against the higher interest rates of the Grameen Bank fail miserably to arrange a meagre loan for the poor through the NCBs."

He alleged that a large portion of microcredit loans has not been used the way it should have been. A huge sum of the microcredit loan has been frittered away. He urged the government to launch a drive against those practices.

Dr Akbar hailed Dr Yunus' decision to join politics and said, "I consider it a bold step. The evil force will overrun us if the honest people continue to remain onlookers."

Former BEA President Dr Moinul Islam said the interest rates for the Grameen Bank loans are much higher and urged Dr Yunus to bring it down further.

He stressed the need for eradicating the social discrimination before poverty alleviation.

"Poverty is being created by the state and politics through many ways including rampant plundering of the money taken in loans," he said.

"Big loan defaulters have eaten up 77 percent of the loan money by using the amount in politics and through the loopholes in the so-called system of writing off and rescheduling debts," he noted.

He alleged that former finance minister Saifur Rahman was the 'chief patron' of this evil syndicate.

BEA, Chittagong President Professor Sikander Khan chaired the seminar addressed among others by Grameen Trust Managing Director Professor Huzzatul Islam Latifi and BEA, Chittagong General Secretary Khorshedul Alam Quaderi.