HBFC borrowers submit memo to PM

The Association of the Borrowers of HBFC, a platform of more than 50000 borrowers of the corporation, also observed daylong token hunger strike at Muktangan in the city to press their demand.

A four-member team with Association President Prof Md Amanullah and Secretary General Eng Md Fazlul Huq submitted the memorandum to the Director (Administration) of PM's office.

They said that HBFC does not follow the canons of simple interest rate while counting interest rates against the disbursed loans. Rather they calculate the interest rates willfully that are much higher than that is logical.

They said in spite of parliamentary standing committee's directives not to take more than 5% service charge for the loans and to adjust the loan repayment installments with the principal amount first, the HBSC authorities did not yet implement the decision.

"As the method of loan repayment is faulty, we will never be able to repay loans", said Eng Fazlul Huq

When the borrowers were observing hunger strike, former chief justice Abdur Rahman expressed solidarity with them.