Economy
PM Sheikh Hasina Advocates for World Bank Funding to Boost Women Entrepreneurs
In a meeting with World Bank Managing Director Anna Bjerde at the Sangsad Bhaban office on Sunday, Prime Minister Sheikh Hasina called for dedicated funding from the World Bank to empower women entrepreneurs in Bangladesh, aiming to enhance their socioeconomic status. She stressed the importance of additional concessional loans for climate change mitigation and adaptation projects. The Prime Minister’s commitment to financial inclusion and entrepreneurship among women was emphasized during the briefing, where she highlighted the significant contributions of women in various sectors. Sheikh Hasina urged the World Bank to establish a special fund for Bangladeshi women to accelerate their entrepreneurial ventures and socioeconomic progress, stating that this initiative would pave the way for new entrepreneurs.
She further underscored the government’s efforts in marketing products created by women entrepreneurs and integrating climate change and resilience considerations into development projects for sustainable growth. Sheikh Hasina emphasized Bangladesh’s position at the forefront of sustainable development and requested the World Bank to provide more concessional loans for climate change and climate resilience projects.
Addressing the issue of gender equality, the Prime Minister mentioned that her government gives the highest priority to women’s empowerment, with equal opportunities created for all. She highlighted women’s participation in various spheres of life, including the armed forces and agriculture, attributing this achievement to a change in mindset during the tenure of the Awami League government. Sheikh Hasina also noted the 30 percent quota ensured for women in local government elections.
Regarding the impact of the war in Ukraine on Bangladesh, the Prime Minister acknowledged a spike in inflation and shared that the central bank has introduced a plan to implement a crawling peg system for the taka to regulate abrupt fluctuations in its value.
World Bank Managing Director Anna Bjerde commended Bangladesh’s efforts in economic reforms and pledged continued assistance in advancing these reforms. She appreciated Bangladesh’s commitment to reforms and emphasized that the timely implementation of World Bank-funded projects would lead to the disbursement of funding for new projects.
The meeting was attended by PM’s Advisor Salman Fazlur Rahman, Principal Secretary Md Tofazzel Hossain Miah, and Economic Relations Division Secretary Md. Shahriar Kader Siddiky.
Chief Adviser Prof Muhammad Yunus on Thursday paid tribute to the Armed Forces Division by placing a floral wreath at its headquarters.
Prof Yunus, who visited the division as part of his official duties, laid the wreath to honor the sacrifices and dedication of the members of the Armed Forces.
Following the wreath-laying ceremony, he signed the visitor’s book.
Chief Election Commissioner (CEC) Kazi Habibul Awal, along with four other election commissioners, announced their resignation during a press conference today at the Election Commission (EC) building. The resignation follows growing speculation and pressure.
CEC Awal stated, “In this changed situation, I and other commissioners have decided to step down. We’re handing over our resignation letters to the EC Secretary to send it to the President.” After submitting the letters, the CEC and some commissioners quickly left the premises, with no clear explanation for the absence of two election commissioners.
The resignations come amid increasing unrest tied to the registration of political parties such as Nagarik Oikya and Gono Odhikar Parishad. Sources revealed the CEC felt unsafe due to aggressive behavior from activists, prompting the decision to step down.
Protesters outside the EC building hurled shoes at vehicles carrying Election Commissioners Rashida Sultana, Md Alamgir, and Anisur Rahman as they left. Meanwhile, preparations for their exit had already been underway, with the commissioners reportedly relocating personal belongings from their offices.
The commission, appointed in February 2022 for a five-year term, had previously expressed confusion over demands for their resignation, maintaining they had conducted fair elections. However, internal discussions led to the collective decision to resign earlier than expected.
The government will now purchase LNG from the international spot market through open tender instead of negotiation.
Cabinet Committee on Economic Affairs (CCEA) in a meeting on Wednesday in principle approved a proposal in this regard.
Adviser of the interim government for Finance Dr. Salehuddin Ahmed, who presided over the meeting, said that the government will procure LNG through open tender.
The Energy and Mineral Division of the Ministry of Power, Energy and Mineral Resources placed the proposal where it sought approval to import LNG from 23 listed companies in the international spot market.
The adviser said that though such 23 companies were enlisted by the previous Awami League government and signed Master Sales and Purchase Agreement, they will remain unchanged.
He said that instead of applying the Speedy Increase of Energy and Power Supply (Special) Act 2010, the interim government will follow the Public Procurement Rules 2008 to ensure the competitive bidding process.
“We don’t want to change them as we wanted to import LNG quickly, ensuring proper competition among the suppliers,” he told reporters.
Committee also approved another proposal in principle to sign a contract to import urea fertiliser for the 2024-25 fiscal year from Fertiglobe Distribution Limited, UAE, on a G-to-G basis.
Meanwhile, the Cabinet Committee on Government Procurement (CCGP) in a meeting, presided over by the Adviser for Finance, approved 3 proposals for import of lentil and fertiliser.
As per the proposal, the Trading Corporation of Bangladesh will procure 10,000 metric tons (MT) of lentil from local firm Sahara Enterprise at a cost of Tk 98.20 crore with each kg priced at Tk 98.20.
The Commerce Ministry which moved the proposal on behalf of the TCB in the meeting mentioned in the proposal that the supplier firm was selected through open tender.
The CCGP approved two separate proposals of the Industries Ministry under which Bangladesh Chemical Industries Corporation will import 30,000 MT of bulk granular urea fertiliser from Fertiglobe Distribution Limited, UAE, under state to state contract at a cost of Tk 121.48 crore.
Each metric ton of fertiliser will cost $343.17.
Another 30,000 MT of bagged granular urea fertiliser will be procured from the local Karnaphuli Fertilizer Company Limited (Kafco) at a cost of Tk 116.99 crore with each metric ton costing $330.50.
