Economy
PM Urges Improving Education Quality to Meet Global Standards
Sheikh Hasina, the Prime Minister of Bangladesh, emphasized the need for collaborative efforts to enhance the quality of education in line with global standards. Speaking at a national council of principals of colleges affiliated with the National University, she acknowledged the significant improvements in education quality within the country but stressed the importance of keeping pace with international standards. Sheikh Hasina outlined her government’s measures to foster comprehensive educational development, ensuring that future generations are equipped to navigate the ever-evolving world of science and technology.
To make the education system more diverse, she mentioned the establishment of universities in each district, four medical universities in divisional headquarters, an Islamic Arabic University, a digital university, an Aerospace and Aviation University, as well as science and technology universities. The Prime Minister highlighted the government’s focus on creating a skilled workforce to meet the increasing demands of the fourth industrial revolution. Initiatives such as the establishment of high-tech parks and computer incubation training centers aim to provide education in areas like nano-technology and artificial intelligence.
Sheikh Hasina urged principals and teachers to nurture students into responsible citizens of Bangladesh. Emphasizing the significance of education in shaping future leaders, she called upon students to prioritize their studies, foster patriotism, and contribute to the welfare of the country and its people. The Prime Minister reiterated her commitment to fulfill the vision of Bangladesh’s founding father, aiming to create a prosperous and equitable nation, free from hunger, poverty, and exploitation by 2041.
During the event, Sheikh Hasina distributed scholarships to 10 underprivileged meritorious and special-needs students. A total of 12,394 students, including 11,285 underprivileged meritorious students and 1,109 special-needs students, were awarded scholarships amounting to approximately Taka 6,19,70,000.
Additionally, the Prime Minister unveiled several development projects, including the ICT master plan under the National University, and signed a list of development schemes. Dr. Dipu Moni, the Education Minister, also spoke at the event as a special guest, with the Vice-Chancellor of the National University, Prof. Dr. Mashiur Rahman, presiding over the ceremony. Principals from Selim Sonar Bangla College of Cumilla and Rajshahi Government Women College, along with two scholarship recipients, shared their views.
Reflecting on her own experiences, Sheikh Hasina recalled being arrested by the caretaker government during the 2007 state of emergency. She highlighted her refusal to accept the status of Prime Minister offered by a military officer, instead advocating for democratic elections where citizens could choose their representatives. She emphasized her dedication to changing the fate of the Bangladeshi people, rather than seeking personal gain.
The Prime Minister acknowledged the significant progress achieved in Bangladesh since the Awami League assumed power in 2009, attributing it to democratic continuity and political stability. She highlighted the country’s transformation in various sectors, including education, health, food security, infrastructure, and digital connectivity, comparing the current state of development to 14 and a half years ago. Sheikh Hasina contrasted the budgetary allocations of previous governments, emphasizing her administration’s prioritization of education and increased funding compared to the past.
Drawing inspiration from the country’s founding father, Bangabandhu Sheikh Mujibur Rahman, Sheikh Hasina highlighted the government’s commitment to science, technology, and vocational education. To promote scientific education, her government established twelve science and technology universities across the country. The Prime Minister also criticized the previous BNP-Jamaat alliance government for discontinuing scholarships for pursuing master’s and Ph.D. degrees abroad, as well as canceling an agreement to purchase laptops, resulting in a financial loss for Bangladesh.
Lastly, Sheikh Hasina underscored her government’s efforts to ensure a peaceful and conducive environment in educational institutions, citing the reign of terror that prevailed during the rule of the BNP-Jamaat alliance. She highlighted how military dictator Ziaur Rahman diverted young individuals from education toward destructive activities by providing them with financial resources and weapons.
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.
