Prime Minister Sheikh Hasina today stressed again reining in inflation in the country through various efforts and government policies alongside preventing unnecessary expenditure and wastage of the public fund.
The premier gave the directive while chairing a meeting of the Executive Committee of the National Economic Council (ECNEC) as its chairperson held at the NEC Conference Room in the city’s Sher-e-Bangla Nagar area.
PM stresses again on reining in inflation
Briefing reporters after the meeting, Planning Minister MA Mannan said that the Prime Minister once again put emphasis on reducing the inflation rate through various government measures and policies.
“But, it’s not possible to bring down inflation by force or overnight. We’ve brought down inflation over the last four months and I think the inflation rate will also decline in the outgoing month,” he added.
Mana said the Prime Minister also underscored the need for averting wastage and unnecessary expenditure of the public fund. “But, necessary expenditure should have to continue, otherwise the economy will not move forward,” he said quoting the Prime Minister as saying.
The premier also directed all the concerned executing agencies to complete those projects with high priority that are nearing completion or have witnessed up to 90 percent implementation rate.
Referring to the joining of Bangladesh in the New Development Bank (NDB), an initiative of BRICS, Sheikh Hasina said the NDB has opened up a new window for Bangladesh as the country would now be able to take loans from the banks apart from other lenders like World Bank, Asian Development Bank, AIIB and IsDB.
“This is the sign of our enhanced capacity and now we’ll be able to take loans from where we’ll get better outcomes through negotiations,” she added.
The premier asked the authorities concerned not to make concrete downstream of canals as those often create water logging side by side and directed the Ministry of Water Resources and the Local Government Division to construct the sluice gates across the country cautiously considering the sustainable maintenance and operations of those.
Referring to a project in Hatia island, she suggested building up a green belt or afforestation surrounding the island as in the Sundarbans.
Pointing to the project related to the modernization of hospitals, the Prime Minister asked all concerned including the Ministry of Health to ensure infrastructures necessary manpower, and necessary medical equipment in parallel so that those could be operated in full swing from the very beginning. “Scarcity of manpower, machinery, and equipment is not at all acceptable and we’ll have to be cautious in this regard,” Mannan said quoting the premier as saying.
The Prime Minister also suggested encouraging the youths to surf in Cox’s Bazar as well as searching for funds from the climate fund for excavating the Shubhadda Khal.
Answering a question about the joining of Bangladesh into the BRICS, Mannan said Bangladesh in this regard is already in the ‘Verenda’ of a house and waiting to enter the main room with other countries.’
He said Bangladesh has availed one percent share into the NDB of BRICS and hopefully the country would join the BRICS in the future through the completion of some formalities.
Replying to a question on inflation, Mannan said that the inflation rate in Pakistan is still hovering around 20 percent while Sri Lanka is also experiencing a high cost of living although they have reduced the inflation rate.
“Inflation will reduce in August in our country in a sustainable manner,” he added.
Regarding the construction of sluice gates in development projects, the Planning Minister said that the Prime Minister had suggested for constructing such structures in a better way and thus maintain those.
State Minister for Planning Dr. Shamsul Alam said that sluice gates nowadays are being built with fiber optic glasses instead of steel.
When asked about the trend of revision of projects time and again, Mannan said that the Prime Minister is very much aware of the matter.
He said the revision of projects usually happens due to fluctuations in the exchange rate coupled with some other issues for which the Ministry of Planning and other implementing Ministries and Divisions are continuously making efforts to address the issue.
Replying to another question about the method of reducing unnecessary expenditures, Mannan said that the government should have to increase internal vigilance to reduce such unnecessary expenditures or misuse of funds.
In response to another question, the Planning Minister said that the ADB conducted the feasibility study on the Dohazari-Cox’s Bazar Rail Line which experienced some damage due to the recent flood.
At the very outset of the meeting, the ECNEC congratulated the Prime Minister for rolling out the epoch-making initiative Universal Pension Scheme on August 17 in line with the election manifesto of the government.
Mannan said this was one of the creative works of the government as the Awami League wants to establish a welfare-oriented state.
He noted that all the macroeconomic indices are in a sustainable state and it is the internal characteristics of the country’s economy. “It’s not good to experience quantum jump or steep fall on anything…the wage rate has increased in the country which indicates the reduced gap between income and expenditure,”
The planning minister said the ECNEC also thanked the Premier for her successful participation at the 15th BRICS summit in South Africa.
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