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Why special savings certificates?

24 July 2004, 18:00 PM
LETTERS TO THE EDITOR
By Nur Jahan, Chittagong.
24 July 2004, 18:00 PM
The Daily Star on July 1, 2004 reported that the government had introduced a new pensioners' saving scheme for retired government , semi-government and autonomous body employees. In the new scheme, retired employees of the above categories will be able to buy saving certificates worth up to Taka 20 lakh at the interest rate of 11 percent, and the government is contemplating to slash the rates of other saving schemes.

We would like to protest this step of the government. There are millions of people who are not the employees of the government but are solely dependent on their savings. They are widows, divorcees, old and sick people who are unable to do any work, and have to live on the money they get from their savings. It will be a hard blow to them and make their lives miserable.

We do not understand why the retired government employees will get this additional benefit, they are getting 70% of their basic salary, medical allowances, festival bonus. They must have raised children who will also look after them, so why create this disparity and make the general public unhappy?

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We are requesting the government not to cut the interest rates of the saving certificates of the common people; they are entitled to get the same rate as the pensioners.