Finance Minister AMA Muhith has been criticized by the prime minister for his comments that microcredit played a significant role in alleviating poverty in Bangladesh. She was speaking at the council of Awami League’s women affiliate on Saturday, where she said that it was the government’s initiatives, which were behind poverty reduction.
Previously on Thursday, Finance Minister AMA Muhith has said microcredit program has contributed significantly to reducing poverty in the country.
Lauding the role of Nobel laureate Dr.Muhammad Yunus, Muhith said the Grameen Bank distributed micro-credit first of all among the hardcore poor in the country. Later, it was followed by many others. As a result, today the rate of poverty has come down remarkably.
Muhith was addressing the inaugural ceremony of the Loan Management System (LMS) of Social Development Foundation (SDF) as chief guest at the LGED Bhaban at Agargaon in Dhaka. SDF is an autonomous body under his ministry.
“Once upon a time, 70 percent people of this country were poor, which has now come down to 22 percent. The Grameen Bank has played a successful role in it,” Muhith said.
Referring to his remarks, Prime Minister Hasina said, “We saw the honorable finance minister praising microcredit. Micro-financers make wealth, they run a business. “They do not want the people to come out from poverty or else what will they make money out of?” PM Hasina questioned.
She said it was during the Awami League regime when poverty came down to 22 percent. “We have succeeded in reducing poverty. We took office to work for the people.”