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.
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.
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