SUCCESS STORY
Rewarding Retirement for Bangladeshi Accountant
Mosharraf Hossain, previously a retired assistant accounting officer at Daulatpur Jute Mills in Khulna, is now a farmer and a Guti (compact urea briquette) fertilizer producer/dealer. At age 57, Hossain has found retirement to be very interesting and rewarding. “I retired in 2002 and was concerned that I would be too idle, but things are very different now. I have a fertilizer shop in Uzirpur, Barisal district, where I produce fertilizer. I also grow rice, using the fertilizer deep placement (FDP) technology,” Hossain said. Hossain formerly cultivated rice using the traditional methods, but he was always looking for ways to improve his crop. He heard about the Accelerating Agriculture Productivity Improvement (AAPI) project, funded by USAID and implemented by IFDC. He met IFDC’s field officer and learned about the benefits of Guti fertilizer and FDP technology. Because of his affiliation with the AAPI project, he was offered a briquette machine at an 80 percent subsidized rate. He and his business partner, Salim Sardar, were also able to purchase the fertilizer retail dealership at the initial cost of Tk 2 lakh (US $4,166). Because people in Hossain’s area are learning about the benefits of FDP, the demand was quite high for the product during the 2009/10 Boro season. “I produced and sold 220 metric tons of briquettes. The net profit was around Tk 1 lakh [US $2,083],” he said, adding that farmers mainly use Guti fertilizer during the dry season. During the 2010 Aus season, he produced and sold only 6 mt of briquettes, but he more than made up for that with sales of 230 mt during the
2010/11 Boro season. He also produced and sold 3 mt of a mixture of urea, DAP and muriate of potash, better known as NPK. Hossain believes his success as a businessman is because he sets an example by using the Guti briquettes in his own field with excellent results. He occasionally invites farmers to his shop for tea and explains the benefits of FDP. Hossain used FDP on 150 decimals (1.5 acres) of land. He leased 100 decimals and he owns the rest. His total production was 90 maunds (37.4 kg). “Previously my rice yield during Boro season was about 8 maunds for each 20 decimals, but now it is over 12 maunds because of FDP,” Hossain said. The production costs were also reduced. “Initially, it took six laborers to deep place the briquettes, but now four are enough,” Hossain said. In his ‘retirement,’ Hossain has provided jobs for four people and local farmers are producing more rice using Guti fertilizer bought at his shop. “IFDC’s AAPI project has changed my life!” Sardar, Hossain’s business partner, previously worked part-time as an electrician. “During the peak seasons of Boro and Aman, I work in the fertilizer shop and during the lean season, I work as an electrician. I now am employed all year. The fertilizer shop has increased my income and I can provide more for my family,” said the 45-year-old entrepreneur. “My dream to better educate my three children is coming true.”
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