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.
Economy
Diplomats, Journalists from Russia and Africa Forge Alliance to Develop Information Strategy
Russia and Africa have joined forces to craft a comprehensive information strategy, as revealed during the Second International Journalists Forum held on Thursday, April 18, both online and offline.
Organized by the Russian-African Club in collaboration with the Faculty of Journalism and the Faculty of Global Studies of Lomonosov Moscow State University, and backed by the Secretariat of the Russia-Africa Partnership Forum of the Russian Foreign Ministry, the forum drew a diverse array of participants. Diplomats, government officials from African nations, media executives, producers, TV hosts, journalists, public figures, scholars, educators, and representatives from cultural and media sectors converged, totaling around 100 individuals from 32 countries spanning Russia, Africa, the Middle East, India, Bangladesh, and Brazil.
The forum, moderated by Alexander Berdnikov, Executive Secretary of the Russian-African Club, featured notable figures such as Anna Gladkova, Louis Gouend, and Ilya Shershnev from Lomonosov Moscow State University. Oleg Ozerov, Ambassador at Large of the Ministry of Foreign Affairs of the Russian Federation, and Head of the Secretariat of the Russia-Africa Partnership Forum, conveyed a welcoming address stressing the pivotal role of truthful media in shaping perceptions of current events. He also highlighted the significance of the upcoming Russia-Africa Ministerial Conference scheduled for November in Sochi, emphasizing the need for a robust information framework to facilitate productive discussions.
Elena Vartanova, Dean of the Journalism Faculty of Lomonosov MSU, extended greetings and underscored the intensified efforts of the Russian-African Club ahead of the university’s 270th anniversary. Yves Ekoué Amaiso from Togo emphasized the imperative of devising a unified media strategy amidst the ongoing political, economic, and information dynamics influenced by the Global West.
Subsequent speakers, including Zenebe Kinfu, Leonard Dossou, Ondua Ovona Joseph Julien, and Tokologu Tau, deliberated on the growing Western influence on African media and proposed concrete measures to bolster collaboration between Russian and African journalists.
Jamal Othman, Head of the Main Department for Media Content Monitoring in Libya, shed light on his organization’s role in combating misinformation and promoting tolerance.
Ilya Shershnev reiterated the significance of advancing preventive journalism, announcing plans for an innovative training course encompassing areas such as public diplomacy, fake news mitigation, and peacebuilding, underscoring Moscow State University’s commitment to fostering a new frontier in the information domain.
Renowned Indian expert, professor, and journalist Dwivedi Ratnesh highlighted Russia as a blueprint for India in terms of governmental support for national media activities, balancing control with respect for journalists’ independent and constructive opinions.
Maxim Reva, Deputy Editor-in-Chief for Economics at the African Initiative news agency, showcased the agency’s three correspondent points established directly in Africa – in Mali, Niger, and Burkina Faso. He underscored the paramount importance of personal communication between media professionals and the audience. Reva also pointed out the significant potential of African graduates from Soviet and Russian universities who have emerged as leading specialists in African countries.
Joining the session online from Cameroon, Club expert, International Journalist, and Academician of Petrovsky Academy of Sciences and Arts, Sergei Chesnokov, participating in the fourth investment forum, highlighted the keen interest of Cameroonians in the Russian delegation, expressing a desire for an equal partnership.
Patrick Boyanga Bozi, President of the Congolese Diaspora in Russia, expressed confidence in Africans’ immunity to correctly perceive information, stemming from the historically friendly relations between Russia and Africa.
Entrepreneur Georges Romain Zobo from Congo, a graduate of a Soviet university, stressed the necessity for practical measures to provide information support to small and medium-sized agricultural businesses in Africa.
Said Ali, President of the Malagasy diaspora in Russia, endorsed the Russian-African Club of Lomonosov Moscow State University’s activities, deeming it a pivotal organization for advancing the Russian agenda in Africa.
Africanist and writer Igor Sid highlighted Africa’s perennial role as a source of new perspectives, generously shared with the global community.
Concluding the proceedings, Alexander Berdnikov, Executive Secretary of the Russian-African Club of Lomonosov Moscow State University, affirmed that all proposals from the forum participants would be considered by the Journalists Association of Russia and African Countries. The forum’s main thrust emphasized the necessity of crafting an information strategy to bolster Russian-African relations.
The World Bank reported that approximately $3.15 billion is illicitly transferred out of Bangladesh each year through offshore accounts.
Citing the State of the Tax Justice Report 2020, the World Bank stated that the offshore financial wealth of Bangladeshis is estimated at 0.7% of the nation’s GDP.
“Including losses from corporate abuse and offshore tax evasion, tax revenue losses are estimated at over $700 million,” the World Bank stated in its latest Bangladesh Development Update report published on 2 April. This amount equals 2.2% of the country’s total revenue income in fiscal year (FY) 2019-20.
In the Development Update report, the World Bank noted that illicit capital flows into offshore accounts from Bangladesh have been increasing.
Referring to the latest Global Financial Integrity Report 2021, the bank mentioned: “Between 2009 and 2018, as much as $3.6 billion on average per year has been laundered from Bangladesh through trade mis-invoicing.”
The World Bank highlighted that Bangladesh’s illicit capital outflow through offshore accounts is high compared to some of the country’s peer nations in its Development Update report.
Currently, Bangladesh ranks 54th among 133 countries in the Financial Secrecy Index, which assesses the extent to which a country’s tax and financial systems facilitate individuals in concealing their finances from the rule of law, according to the World Bank.
The bank further stated that Bangladesh ranked 44th globally and 3rd in South Asia in terms of illicit outflows through trade mis-invoicing.
The International Monetary Fund (IMF) has once again lowered its growth forecast for Bangladesh’s economy to 5.7 percent for the current fiscal year of 2023-24. This revision was outlined in the IMF’s World Economic Outlook released on Tuesday, April 16.
The IMF’s revised projection highlights various global and local challenges, including persistent high inflation, unemployment, reduced remittance inflow, and a decline in industrial investment targets.
This marks the second time the IMF has reduced its economic growth forecast for Bangladesh. In October of last year, it initially projected a 6 percent growth rate, down from its previous prediction of 6.5 percent for the FY2023-24 period.
The IMF’s growth forecast follows a recent announcement by the Asian Development Bank (ADB), which stated that Bangladesh’s GDP is expected to expand by 6.1 percent in FY 2023-24, driven by export growth.
Earlier this month, the World Bank also weighed in, stating that Bangladesh’s growth will be subdued due to reduced private consumption affected by high inflation. It forecasted a GDP expansion of 5.6 percent in FY 2023-24, below the average annual growth rate of 6.6 percent recorded over the decade preceding the Covid-19 pandemic.
