NEWS report in national dailies on Thursday said Agriculture Minister Matiya Chowdhury has criticized Finance Minister AMA Muhith for his proposal to reduce interest rate on Saving Certificates. Replying to Finance Minister’s comment in Parliament that he would like to reduce interest on Saving Certificates, Matiya said Muhith must not reduce interest on saving certificates. The Finance Minister is however facing a highly critical situation. He has about 10,000 middle-class people who would become helpless if interest is being reduced but banks are also decrying high interest rates on Saving Certificate for blocking more deposit to banks. In fact this is a complex issue as far as interest on bank deposits and business loans is concerned. But what Matiya Chowdhury raised is a vital issue linked to survival of elderly people who mainly live on income from their saving instruments. Taking part in the general discussion on the proposed National Budget for 2016-17, she has rightly identified huge number of people such as retired people, women, widows and others who are living on income from saving certificates. She said they don’t get any help from the government and their condition will be definitely precarious. In our view, her advice to Finance Minister that lowering of interest on Saving certificates can’t be encouraged is quite justified. She has also hinted on yet another vital issue on discriminatory interest rates on Saving Certificates for public servants as against common people. She said government employees get higher interest rate, but common people get lower interest rate. Why this discrimination, she wondered and we share her suggestion that such discrimination must go. Matiya’s further advice to Finance Minister to introduce ‘elderly allowance’ for old age people also deserve highest consideration.Discussions in Parliament were so far boring and self-centered as we see MPs were taking about Eid bonus or flats and plots for them while public interest were almost missing. The veteran politician has raised the most pertinent issue giving the sense that people’s interest also figure out in discussion in the floor. Matiya Chowdhury must be thanked for speaking about the helpless elderly people who only depend on past savings. We know budgetary resources are being robbed and spoiled by dishonest people and corrupt government employees. So it is a right suggestion that the state may take special initiative to deliver assistance to elderly people living on fixed income of the Saving Certificates and such other means of income. They have worked for the country, they must have some easy life now in their remaining days.
