Economy
PM Hasina asks nation to stay alert against anarchy ahead of next election
Prime Minister Sheikh Hasina on Friday (6 January) asked the people to remain vigilant against the anti-liberation clique which has started plotting to seize power through the backdoor ahead of the next general election.
“I would like to urge everyone to keep a watchful eye so that none can snatch away the rights of the people through conspiracy. At the same time everyone should be alert so that none could create anarchy and damage the lives, livelihood and properties of the people in the name of movement,” she said.
Hasina said the next national election will be held at the end of this year or early next year. But the anti-liberation, power-hungry plunderers of public assets have already active in creating anarchy.
“Their aim is to create a chaotic situation and seize state power through the backdoor, and impede the progress of democracy too,” she said in her 25-minute speech delivered at 7:30 pm.
The premier, who is also the president of the ruling Awami League, said the conspirators have employed hired intellectuals and statement-givers at home and abroad with looted money to malign Awami League. “They are trying to mislead people by spreading libels, false and fake information through social media. Don’t be misled by their falsehoods,” she said.
She requested the political parties and institutions that believe in democracy and the rule of law not to allow and fuel any weird idea (mooted by the cliques ahead of the next election) that would undermine the constitutional process.
“We expect a free, fair and impartial election (to be held next time),” she said, adding that this is the first time a law has been enacted in Bangladesh to constitute an Election Commission.
She said the current Election commission has been constituted under that law through a search committee. “The Election Commission was given financial independence. The Commission is working independently and will continue to do so in the future. The government will continue providing all assistance to the Election Commission for holding fair and peaceful elections,” she added.
She said Awami League is a party of the people that believes in the peace of the people and the power of the people. “If the people make the party winner by voting for it, Awami League will continue to discharge the national responsibility of building the country. If they don’t make it the winner, then we will go to the line of the people. But wherever we are, we will serve the people,” she added.
On the occasion of the 4th anniversary of her current regime, the prime minister extended her sincere greetings and congratulations to the citizens at home and abroad. She also wished them a very happy Christian New Year of 2023.
Focusing on the progress of the country during her governments since 2009, she said the image of Bangladesh has become brighter in the world arena in the last 14 years.
“Today none treats Bangladesh as a country of floods, droughts and disasters. Bangladesh is now an emerging economy and a role model for development,” she said.
PM Hasina said Awami League has been in the charge of governing the country for 14 years in a row after the formation of government in 2009.
“Our country has progressed a lot. But we have to take it forward further. Achieving a developed and prosperous Bangladesh is our goal. After building Digital Bangladesh, our next goal is to build a Smart Bangladesh,” she said.
She said the use of robotics, artificial intelligence, nanotechnology, genetic engineering, biological technology and digital devices will be ensured in all fields including the industrial, trade-business, health, education and agriculture sectors in a bid to build Smart Bangladesh, having smart government, smart population and smart industrial factories. “Emphasis has been placed on research in all areas,” she added.
The PM focused her government’s successes in bringing the cent percent population under electricity coverage, strengthening road and rail connectivity, increasing food production, implementation of different large projects including Padma Bridge, metro-rail, Bangabandhu Tunnel under Karnaphuli River, Rooppur Nuclear Power Plant, Dhaka-Mawa-Jajira Expressway, Bangabandhu-1 Satellite, 16-km Dhaka Airport-Kutubkhali Elevated Expressway projects, and setting up 100 economic zones.
She said the prices of daily essentials including fuel have soared also in Bangladesh as it happened at abnormal rates in the world due to the Russia-Ukraine war following the Covid-19 pandemic, sanctions and counter-sanctions imposed by the Western countries and Russia.
“We are purchasing some commodities at higher prices and distributing those at lower prices to the people with limited incomes,” she said adding that 10 million families can purchase rice at Tk 30 per kg and edible oil, pulses and sugar at affordable rates through TCB’s fair price cards, while five million families can buy rice at Tk 15 per kg in a month.
The PM depicted the present scenario of Bangladesh in different social and economic indicators, comparing to the situation 16 years ago at fag end of BNP-Jamaat alliance rule.
She said the per capita income increased to US$ 2,824 now from US$ 543 in the 2005-2006FY, while poverty rate declined to 20 percent from 41.5 percent, the average life expectancy increased to 73 years from 64.5 years and the literacy rate to 75.2 percent from 45 percent.
She said the GDP increased to US$ 460.75 billion in 2021-22FY from only US$ 60 billion, the size of national budget to Tk 678,64,000 crore in the 2022-23FY from Tk 61,057 crore, the export earnings to US$ 52.08 billion in 2021-2022FY from US$ 10.52 billion, and the remittance inflow went up to US$ 22.07 billion in 2021-22FY from only US$ 4.80 billion.
She said the reserve of foreign currencies increased from only US$ 3.5 billion in 2005-06FY to US$ 48 billion in 2021, but declined to US$ 34 billion now due to the global economic downturn and high inflation. Still Bangladesh has a sufficient reserve to meet the five-month export expenditures, she added.
The PM said the allocation against the social safety net programmes rose to Tk 113,576 crore in the current fiscal year from only Tk 373 crore in 2005-2006FY, while the subsidy to the agriculture sector went up to Tk 40,000 crore from Tk 592 crore.
She said the electricity generation capacity has increased to 25,826 megawatt now from only 3,600 megawatt at the end of BNP-Jamaat regime and the population under the electricity coverage to 100 percent from only 45 percent in the same period. “We ensured electricity facilities to cent percent people in 2022. We illuminated all the houses,” she said.
Hasina said Bangladesh is currently the 41st largest economy in the world. Today, Bangladesh has graduated to a developing country from a least developed country, she said.
Noting that Bangladesh has attained a revolutionary development in the communication sector, she said her government constructed and reconstructed hundreds of highways as well as bridges over major rivers, including Padma Bridge, Bangabandhu Jamuna Bridge, Teesta Bridge, Payra Bridge, 2nd Kanchpur Bridge, 2nd Meghna Bridge, 2nd Gomti Bridge in the last 14 years in order to establish an uninterrupted road and rail connectivity.
PM Hasina said some 100 bridges were simultaneously opened in a single day in November last, while some 100 roads were inaugurated simultaneously in a day in December last.
“This is a unique achievement in the development history of the country,” she said, adding that some 718 kilometers of highways have been upgraded to four or above lanes in the last 14 years.
“Today, the people have started reaping the benefits of our visionary plans,” she said
Noting that Father of the Nation Bangabandhu Sheikh Mujibur Rahman dreamt of building an exploitation-and- deprivation-free Sonar Bangla (golden Bengal), she urged all to come forward to realize his dream by building a happy-prosperous non-communal Bangladesh.
“Let’s work to build a smart country and bring smiles on the faces of the common people of this country,” she told the nation.
Referring to the countrywide recent havoc and atrocities, Prime Minister Sheikh Hasina today said that she had an apprehension there might be a strike like this by the BNP-Jamaat clique to pull down the country’s prosperity.
“. . . they (BNP-Jamaat) had wanted not to hold the elections, but we had arranged the elections. After election they thought it wouldn’t be accepted by all, but we’ve also made it acceptable to all and we’ve formed the government. It was an apprehension to me that there would be a strike like this,” she said.
The Premier made this remarks while exchanging views with editors, senior journalists and head of news of various media outlets, organised by Editors’ Guild at her office (PMO).
She mentioned that before and after the election in 2013-14, the BNP-Jmaat clique unleashed arson attacks and killings that left hundreds of people killed and thousands injured.
“It was little bit understandable that this (the activities and movement of the students) was a grave conspiracy,” she said.
Sheikh Hasina said that she didn’t want any incident which might invite any unwanted situation that will invite instability in the country. “It was the target to destroy country’s economy,” she said.
She questioned about the understanding level of the people who supported these mayhem aiming to cripple the country’s advancement and prosperity.
Sheikh Hasina, also the chief of Awami League, said that vested quarter is highly interested to destroy country’s independence and the continuation of the democracy that is going on for long 15 years.
She again said that she never wanted to deploy army personnel in the field while the students were there for the sake of their security.
“While they (students) declared that they are not involved in the on going subversive activities then we called for army,” she said.
The premiers also said that she also didn’t want to impose curfew as the country is going through a democratic environment for 15 years.
She requested the people to resist those who have done this bane for the country. “They have destroyed all the structures have been built for their welfare and livelihood. They have struck all those structures. Who will be the worst sufferer? Of course, mass people. Now it is the responsibility of the mass people to resist these terrorism and militancy,” she said.
The premier called for creating mass awareness against the militancy that has opened in the destructive activities.”If the people don’t become aware then what could we do or how much we could do alone,” she said.
She also mentioned that the targets of the recent mayhem was Awami League, Freedom Fighters and pro-liberation forces.
The Prime Minister said that when all demands of the quota-free movement students were accepted why they gave scope to the militants for doing such heinous activities.
“One day the quota-free movement activists have to answer to the nation, why they gave such opportunity to them for this destruction to the country,” she said.
PM’s Press Secretary Md Nayeemul Islam Khan moderated the programme, while Editors’ Guild president Mozammel Huq Babu delivered welcome address.
Senior journalist Abed Khan, Bangladesh Pratidin editor Nayeem Nizam, DBC Editor-in-Chief and CEO Monzurul Islam, Bhorer Kagoj Editor and Jatiya Press Club general secretary Shyamol Dutta, Daily Jugantor Editor Saiful Alam, Jatiya Press Club president Farida Yasmin, Dhaka Journal chief editor Syed Istiaque Reza, Head of News Nagorik TV Dip Azad, Amader Somoy Editor Mainul Alam, Bangladesh Journal editor Shajahan Sarder, DBC news editor Zayedul Ahsan Pintu, Ashish Saikat of Independent TV, Bangla Tribune editor Zulfiquer Russell, head of News of 71 TV Shakil Ahmed, Energy and Power Editor Mollah Amzad, Head of News of Kings News Nazmul Huq Saikat and Mamunur Rahman Khan of RTV also spoke.
Britain’s inflation rate held steady in June after returning to the Bank of England’s target the previous month, official data showed Wednesday, confounding expectations for another modest slowdown.
The Consumer Prices Index was unchanged at 2.0 percent in June from the same level in May, the Office for National Statistics said in a statement, compared with market forecasts of 1.9 percent.
“Hotel prices rose strongly, while second-hand car costs fell but by less than this time last year,” said ONS chief executive Grant Fitzner.
“However, these were offset by falling clothing prices, with widespread sales driving down their cost.
“Meanwhile, the cost of both raw materials and goods leaving factories fell on the month, though factory gate prices remain above where they were a year ago.”
Analysts said the data could cause the Bank of England to sit tight for a while longer before starting to cut interest rates.
“The chances of an interest rate cut in August have diminished a bit more,” said Paul Dales, chief UK economist at research consultancy Capital Economics.
Last month, the BoE kept its key interest rate at a 16-year high of 5.25 percent, despite slowing inflation in May.
Britain’s newly elected Labour government welcomed news that inflation remained at the BoE’s target level.
“It is welcome that inflation is at target,” said Darren Jones, Chief Secretary to the Treasury, in a statement.
“But we know that for families across Britain prices remain high… (which) is why this government is taking the tough decisions now to fix the foundations” of the UK economy, he said.
Labour, led by new Prime Minister Keir Starmer, has pledged immediate action to grow the economy after the centre-left party won a landslide general election victory to end 14 years of Conservative rule.
Later on Wednesday, King Charles III will read out Labour’s first programme for government in a decade and a half, when the UK parliament formally reopens following the July 4 election.
Elevated interest rates have worsened a UK cost-of-living squeeze because they increase borrowing repayments, thereby cutting disposable incomes and crimping economic activity.
The BoE began a series of rate hikes in late 2021 to combat inflation, which rose after countries emerged from Covid lockdowns and accelerated after the invasion of Ukraine by key oil and gas producer Russia.
China’s economy grew 4.7 percent year-on-year in the second quarter of 2024, official data showed Monday, less than analysts had expected.
“By quarter, the GDP for the first quarter increased by 5.3 percent year on year and for the second quarter 4.7 percent,” Beijing’s National Bureau of Statistics (NBS) said in a statement.
The figures were much lower than the 5.1 percent predicted by analysts polled by Bloomberg.
Retail sales — a key gauge of consumption — also slowed to just two percent in June, the NBS said, down from 3.7 percent in May.
The world’s second-largest economy is grappling with a real estate debt crisis, weakening consumption, an ageing population and trade tensions with Western rivals.
Top officials are meeting in Beijing on Monday for a key plenum, with all eyes on how they might kickstart lacklustre growth.
