Economy
PM asks to offer befitting reply to anti-Bangladesh propaganda
PM Sheikh Hasina called upon Bangladeshi expatriates to give a befitting reply to the propaganda against Bangladesh and its government.
“Give an instant befitting reply to the propaganda being carried out against us,” she said while addressing a reception accorded by the Bangladeshi expatriates in the USA, joining virtually from her palace of residence on Saturday.
The premier also urged the expats to present true picture of the country’s unprecedented development that took place during the Awami League (AL) government and move around the world keeping head high and maintaining the dignity and honour Bangladesh achieved globally.
She said relatives of the war criminals and killers of the Father of the Nation alongside the people who fled the country committing various crimes that included money laundering are behind the anti-state propaganda.
“The people, who are orchestrating the propaganda on the social media, are mostly sacked from the jobs for their involvement in misdeeds or fled the country committing crimes,” she said.
The premier called upon all to make public the characters and misdeeds of the people who are now giving lessons to others by spreading false and fabricated information about the government and Bangladesh using social media.
“Don’t pay heed to their words, rather present the development scenario carried out by us to the people,” she added.
Sheikh Hasina called upon all Bangladeshi expatriates to spread her government’s development picture to all places.
“Inform congressmen, senators and elected representatives in your locality about the development of Bangladesh and maintain communication with them,” she said. To this end, she said you can judge how much development was carried out by them after seeing the comparative picture of the size of the budget during the BNP-Jamaat alliance government and the Awami League government.
“The size of the budget during the BNP tenure was only Tk 60,000 crore while the last budget of the AL government was Taka six lakh crore,” she said.
The prime minister reiterated her call to the expats to move around the world keeping Bangladesh’s image intact, saying, “I urge you all to uphold the dignity and honour that Bangladesh has now achieved from the world.”
She thanked the Bangladeshi expatriates for taking stand against the World Bank’s decision of withdrawing their funds from the Padma Multipurpose Bridge project bringing false and fabricated allegations which were later proved by a Canadian court.
The decision of constructing the Padma Bridge by Bangladesh’s own finance has changed the image of the country to the world and proved that Bangladesh has the ability to do what it said, Sheikh Hasina said.
The prime minister once again alerted the countrymen about the impending severe food crisis in the world due to climate change, the Covid-19 pandemic, the Russia-Ukraine conflict, sanctions and counter-sanctions, urging them to grow more foods to ward off the future crisis.
“As a severe food crisis is approaching the world, ask your relatives not to leave a single inch of land uncultivated using the digital divide as Bangladesh has already been transformed into a digital country,” she asked the Bangladeshi expatriates.
Commerce Minister Tipu Munshi underscored the pivotal role of controlling commodity prices, emphasizing its special importance in the upcoming general election as a key aspect of the Awami League’s manifesto. While addressing concerns about global challenges impacting price control, the minister pointed out the government’s successful efforts to maintain reasonable prices, acknowledging the limitations imposed by the global context.
Speaking at an event organized by the Directorate of National Consumer Rights Protection and Debate for Democracy at the Bangladesh Film Development Corporation (BFDC), Tipu Munshi provided insights into the government’s commitment to ensuring affordable daily necessities for low-income individuals. He highlighted ongoing programs aligned with Prime Minister Sheikh Hasina’s directives, aimed at providing essential items at lower prices to mitigate the hardships faced by the economically vulnerable.
The minister acknowledged the abnormal increase in product prices globally due to factors such as the Russia-Ukraine war and the aftermath of the Covid-19 pandemic. Tipu Munshi stressed the significance of a collaborative effort between the public and private sectors in effectively managing and controlling commodity prices, especially in the face of global uncertainties.
Concluding his remarks, Tipu Munshi emphasized the collective strength of consumers, stating that neither the government nor any syndicate holds ultimate power; rather, the united force of the common people is the most influential. He called on consumers to remain vigilant, asserting that no force can endure if the public remains united.
In a letter signed by FBCCI president Mahbubul Alam, the trade body emphasized that taxpayers faced challenges due to the recent implementation of the new Income Tax Act-2023. The complexities introduced by the new tax regulations, coupled with delayed releases of income tax circulars, have created difficulties for individuals and businesses in preparing their tax returns within the stipulated timeframe.
The FBCCI’s letter further highlighted that various trade bodies have approached them, expressing concerns about the limited time provided for taxpayers to comply. Additionally, the ongoing political situation and the imminent general election have contributed to the constraints faced by taxpayers in meeting the November 30 deadline.
Under the provisions of the new Income Tax Act, there is a mandatory requirement for taxpayers to submit their income tax returns within the designated income tax day. The FBCCI, in light of Section 334 of the Income Tax Act-2023, has formally requested the NBR to extend the deadline for the submission of income tax returns until December 31, 2023.
The FBCCI’s appeal underscores the need for flexibility in recognizing the unique challenges posed by the current circumstances and aims to provide relief to taxpayers who require additional time to comply with the new tax regulations.
The third-quarter performance of Singapore’s economy exceeded expectations, registering a robust 1.1 percent expansion. This growth was propelled by the construction industry and the services sector, particularly tourism. The data from the trade ministry surpassed the anticipated 0.8 percent and marked a significant improvement from the preceding three months.
In response to the positive momentum, officials have revised the full-year forecast for 2023. They now anticipate the economy to grow by 1.0 percent, adjusting from the earlier estimated range of 0.5-1.5 percent. The decision is influenced by improved performance in the US economy since the previous forecast in August. However, officials cautioned that inflation-fighting interest rate hikes may pose challenges in the coming months.
The ministry projected that growth in the US and eurozone would moderate due to the cumulative effects of monetary policy tightening. Similarly, China’s growth is expected to decelerate further due to ongoing weaknesses in its property sector, domestic consumption, and subdued external demand. Despite sluggish global demand for electronics, one of Singapore’s major exports, there are indications that the downturn may be stabilizing.
Continued growth in tourism arrivals is anticipated to support aviation and tourism-related businesses. Taking into account the overall performance of Singapore’s economy in the first three quarters of the year, along with the latest external and domestic developments, the GDP growth forecast for 2023 has been narrowed to around 1.0 percent.
Looking ahead to 2024, the ministry foresees a growth range of 1.0-3.0 percent. However, potential downside risks include high inflation and an escalation of conflicts, such as those between Israel and Hamas or the war in Ukraine. The confluence of these factors could impact business and consumer sentiments, leading to a potential slowdown in global growth and trade.
