Minister urges interest rate cuts for fish farmers

Fisheries and Livestock Minister Abdul Latif Biswas asked banks to reduce loan interest rates to encourage grassroots fishermen and businessmen in the fisheries sector.
Biswas was speaking at a meeting at his ministry with representatives of different banks yesterday.
The meeting aimed at finding a way of giving loans to the people involved in fishing and fish farming, poultry and dairy farms located in the areas, including Aila and Monga-affected areas.
The minister said different banks charge 1 percent to 3 percent additional interest against loans in the sector, compared to the agriculture sector.
Due to lack of loans, hundreds of poultry farmers shut their businesses in primary stages, he said.
The bankers issue crores of taka to large-scale entrepreneurs but show reluctance to provide loans to the sector's small businessmen, Biswas said.
“We are planning to improve the condition of state-owned hatcheries and poultry farms to provide chicks and fry at a cheaper rate to farmers than it is now,” the minister said.