Economy
PM Inaugurates 22nd AL National Council
Prime Minister of Bangladesh Sheikh Hasina today, Saturday (24 December) inaugurated the 22nd national council of one of the sub-continent’s largest political parties, Bangladesh Awami League.
Sheikh Hasina opened the council by hoisting the national flag and releasing pigeons and balloons at 10.30 am Saturday morning at the historic Suhrawardy Udyan, amid tight security.
On her arrival at the venue, Sheikh Hasina, also president of the Awami League, was received by the party’s senior leaders.
The main theme of this year’s council is “Unnoyon Abhijatrai Deshratna Sheikh Hasinar Netritte Bangabandhur Swapner Unnoto, Samridho O Smart Bangladesh Gorar Protoye.”
Road Transport and Bridges Minister Obaidul Quader, MP, will place the report of the general secretary while Awami League Presidium Member and reception committee convener Sheikh Fazlul Karim Selim, MP, is expected to deliver the address of welcome.
Barrister Biplab Barua will place the obituary references.
Around 7,000 each councilors and delegates and thousands of ruling party leaders and activists thronged the venue.
There will be a break for lunch and prayers after the end of the inaugural session. Then the council session will be held in the auditorium of Institution of Engineers, Bangladesh (IEB).
Party’s president and general secretary will be elected in the session.
A three-member election commission has already been formed to elect the leadership.
A total of 11 sub-committees are working for the council. As per the tradition, party president Sheikh Hasina is chairman of the council preparatory committee and general secretary Obaidul Quader is its member secretary.
The stage was made in the shape of a boat along with Padma Bridge which is 80 feet long and 44 feet wide.
Besides, LED monitors are put in the council venue.
The party’s manifesto for the election will focus on “smart Bangladesh” by 2041.
As part of maintaining austerity in view of the global economic crisis, the council is being arranged in a simple manner.
Previous councils were held in two days but this time council is being held on a single day to minimize costs.
The 21st council of the party was held on 20-21 December. The budget of the last council was Tk3.43 crore. The national committee of the party has approved Tk3.13 crore for this 22nd national council.
During the eleventh month of the current fiscal year, the country’s foreign currency reserves have fallen below $19 billion for the first time. After paying off some import bills, the reserves have now stood at $18.26 billion on Sunday.
According to the International Monetary Fund (IMF), as of May 8, the total foreign currency reserves of the country were $19.82 billion.
Mohammad Mezbauul Haque, the spokesperson of Bangladesh Bank, informed that through the Asian Clearing Union (ACU), the central bank has paid off import bills totaling $1.63 billion over the past two months.
However, Bangladesh Bank maintains that after paying off the import bills, the foreign currency reserves now stand at $23.71 billion.
According to the Central Bank’s accounts, the reserves were $25.27 billion on May 8.
The Dhaka Stock Exchange (DSE) and the DSE Brokers Association (DBA) have expressed gratitude towards Prime Minister Sheikh Hasina for her directive to list government companies in the capital market, a move hailed as timely and positive.
The directive was issued during the recent meeting of the Executive Committee of the National Economic Council (Ecnec) last Thursday.
Dr. Hafiz Muhammad Hasan Babu, Chairman of DSE, described the directive as a significant step towards enhancing the dynamics of the capital market. He emphasized that besides invigorating the capital market, this move would also attract foreign investment and promote sustainable development.
Despite previous efforts, government institutions had not been listed in the stock exchange, according to a notification issued by the DSE. The Prime Minister’s directive is seen as a pivotal step towards revitalizing and expanding the economy.
Dr. Babu further remarked, “The listing of reputable companies in the capital market, as directed by the Prime Minister, will greatly benefit the country’s economy. It will also enhance investor confidence.”
Similarly, the DBA released a notification applauding the Prime Minister’s directive, terming it as positive and timely for the capital market.
Saiful Islam, President of DBA, expressed optimism about the directive’s potential to accelerate the country’s capital market and overall economy. He pledged support to relevant government departments and regulatory bodies in implementing the directive, ensuring its positive impact on the economy, including the capital market.
India has expressed interest in financing Bangladesh’s Teesta project, announced Foreign Minister Hasan Mahmud. Speaking to reporters after a meeting with Indian Foreign Secretary Vinay Mohan Kwatra, Mahmud stressed the importance of aligning the project with Bangladesh’s needs. He confirmed discussions on the Teesta issue during the meeting. Mahmud also affirmed Prime Minister Sheikh Hasina’s upcoming visit to New Delhi, indicating that the finalization of the date would depend on the formation of the new Indian government following ongoing elections.
Meanwhile, the IMF has approved a $1.15 billion staff-level loan for Bangladesh in its third tranche. Mahmud noted the ongoing elections in India and the subsequent formation of the new government as factors influencing the scheduling of PM Hasina’s visit.
When asked about the sequence of visits to India and China, Mahmud suggested Delhi’s geographical proximity to Bangladesh. Diplomatic sources suggest PM Hasina’s visit to India is planned for early July, following India’s elections.
Pre-election surveys indicate strong prospects for Indian Prime Minister Narendra Modi’s re-election. Modi previously congratulated PM Hasina on her electoral victory in January, expressing optimism about strengthening ties between the two nations.
The last bilateral engagement between the prime ministers occurred during the G-20 Leaders Summit in September 2023. Modi is expected to invite South Asian and BIMSTEC leaders to his swearing-in ceremony, fostering regional cooperation.
Addressing border killings, Mahmud emphasized the government’s commitment to ending such incidents and promoting the use of non-lethal weapons by border forces. Discussions also covered enhancing physical and people-to-people connectivity, including cooperation with India to import hydropower from Nepal and Bhutan through India. Mahmud highlighted the need to further ease visa restrictions to strengthen people-to-people relations.
