'Businessmen worried over capital crisis'

Amjad Hossain is proprietor of Haji Kalim Uddin Auto Rice Mill in Sherpur. He was elected more than once as president of the District Rice Mills Association and District Chamber of Commerce and Industries. In an exclusive interview with Prothom Alo, he talks on problems and prospects of trade and business of the district and his expectations ahead of the next budget.

Prothom Alo: How is trade and business in Sherpur?

Amjad Hossain: Trade and business is not in a good condition in Sherpur. The rice mill owners are not doing well financially as there is no balance between the market price of rice and paddy. The rice mill owners, who have produced rice after purchasing paddy at high prices, are now losing. Bank loans are required for business but such loans are not available in the district. The bank officials have to be appeased to avail loans. It is difficult to run industries without bank loans. So the businessmen are worried over the capital crisis.

Prothom Alo: Why are industries other than rice mills not developing in Sherpur?

Amjad Hossain: Sherpur is a district where food is produced more than demand. The economy of this district is based on agriculture. Many have been employed in rice mills. The people of this district are adept in running food-related enterprise. It requires big capital to establish other industries. People have no capital. Other industries are not growing due to capital crisis. But other industries can be established if the government provides support.

Prothom Alo: What is your expectation regarding the next budget?

Amjad Hossain: Rice mills owners have been facing for a couple of years as duty-free rice is imported. As a result of such continuous losses, many rice mills have closed down. If we want to save the local rice mills, adequate tax has to be imposed for importing rice in the next budget. There must be a balance between price of local rice and imported rice. If that happens, the rice mill owners will survive.

Prothom Alo: Is there any problem in transporting commodities produced in Sherpur?

Amjad Hossain: Roads are the only means of communication between Sherpur and rest of the country including Dhaka. If communications are shut down due transport strikes or any other reason, this has a negative impact on trade and commerce of the districts.

So it is very important to build communication to this district to boost business and trade. Commodities can be carried in a short time and a low cost. The common people can also avail rail communication and their sufferings will abate.

Prothom Alo: How are gas and electricity facilities for the industries in Sherpur?

Amjad Hossain: There was huge crisis of electricity even a year or two ago. The supply of electricity to factories has improved. The crisis of gas is still acute. Many businessmen have applied for gas connections but are yet to get this. As a result, production has been hampered.

Prothom Alo: Is there any plan to export aromatic ‘atap’ rice produced in Sherpur?

Amjad Hossain: Huge amount of quality aromatic ‘atap’ rice is produced in the ‘aman’ season. Meanwhile, the government has recognised ‘atap’ rice as geographical commodity. High prices have pushed down its demand in the local market. The growers and traders face losses in this regard. If the doors of export are opened, then reasonable prices will be ensured and foreign currency can be earned. We urge the government to take initiative to export this rice.

Prothom Alo: How is the employment scenario of educated youth in the district? What is your plan in this regard?

Amjad Hossain: The government has started establishing economic zones in different parts of the country including Sherpur, Many young entrepreneurs will be able to establish industries if the economic zone is completed in Sherpur. The government has to give necessary financial assistance so the youth can establish themselves as entrepreneurs. I think there is no alternative to industrial revolution for employment. The lending process has to be made easy. The interest rate has to be kept in one digit.

*This interview, originally published in Prothom Alo print edition, has been rewritten in English by Rabiul Islam