The prices of daily essentials started rising following the outbreak of coronavirus in the country in 2020. According to a World Bank report published in December last, some 71 per cent of the families were concerned with the price hike. The middle class, lower middle class and the low income people were being forced to loan money, the report stated.

Another study published by the Centre for Peace and Justice (CPZ) of the BRAC University in March 2022 stated some 34 per cent of the people of the country had to take loans to survive amidst the economic crisis driven by the pandemic.

The study said one third of the money from the loan was spent for food, one fourth was spent to pay for old loans and a portion was used for medical purposes.

It is evident from the latest BBS survey that the tendency to loan money to meet the basic needs hasn’t reduced. The amount of loan per family has doubled. Some one third of the families of the country are running on loans.

SANEM executive director Selim Raihan said despite the big success in the financial growth of the country, a large portion of common people are suffering from food insecurity.

“It’s like the shadow beneath the lamp,” he added.

*This report appeared on the print and online versions of Prothom Alo and has been rewritten in English by Ashish Basu