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Opinion

Banks are cheating hapless people, so does the state

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The Boxer

Publish: 23 Jan 2024, 05:52 AM

Banks are cheating hapless people, so does the state

In the remote area of Rangamati, some people are brazenly cheated as they found out that millions of takas were embezzled by using their credentials and leaving them in debt. 

The worst part is, most of them never even visited a bank let alone any knowledge about loans taken using their names, identity cards and so forth. 

It was learnt from the media that loans were taken from state-run Sonali Bank by using the papers of 506 people most of whom are day labourers, illiterate and poor and the total amount is over 15 million that has gone manifold with the interest. 

The poor people started to get notice from the bank last November and they were perplexed. Later on they realised that their identity card numbers and signatures were taken 12 years ago with a promise to give them a very tiny amount (700 taka) of government donation. 

The news is a great example of how the state is being run and its people being duped and syphoned. Obviously, the bankers, other law enforcement agents and local public representatives are behind the scam. The poorest of the people, who are supposed to be safeguarded by the state, are sucked to the last drop of blood. 

In the bigger picture, we see the state takes huge amounts of loans in the name of people and big projects but the large part of them is embezzled by the aforementioned unholy alliance. It is because to them we see the expenditure for the construction of per kilometre of road or bridge is by far the highest in the world. Often in the media we see how the government tenders inflate prices. A piece of pillow for several thousand, a camera worth a few hundred dollars in the market for thousands are some famous examples, and by now everyone knows that in government projects the price of every little material is quoted 10-15 even 100 times more than the actual market price. 

Every penny is hard-earned public money. As a matter of fact, the powerful want to cling onto power by hook or by crook to embezzle the money and build paradise in so-called Begum Paras in the West and other tax havens.

While, we remain awestruck with the huge burden of foreign loans, inflation and other unbearable economic pressure despite toiling day and night.

The BoxerThe author is one of the indefatigable working-class Bangladeshis who have been trying to change the fate of the nation but were betrayed by the ruling elites and autocrats. The name is inspired by a character in George Orwell's 1945 novel Animal Farm.

 

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