Contain Sanchayapatra rate

Sanchayapatra is a national savings scheme of the government. The government collected more than Tk 750 billion during the 2016-17 fiscal year by selling Sanchayapatra. The government had an initial aim of selling Sanchayapatra worth Tk 450 billion by April but ended up selling about Tk 650 billion. Sanchayapatra is attractive because its interest rate is almost twice the rate banks are offering. The collective interest paid by the government in this scheme has now reached about Tk 150 billion.

The actual beneficiaries of this scheme were wealthy families and businessmen. Sanchayapatra is now creating a bubble which might explode anytime soon. The government should contain this scheme in order to maintain sustainability of our economic growth.

Mojammal Hoque, Fatikchhari