Economy
PM Alerts to Save Money Amid Tough Days Ahead
Prime Minister Sheikh Hasina on Tuesday, 11 October reiterated all to make their best effort to boost food production amid a strong prediction that the world may face a severe food crisis followed by calamity next year.
PM says, during my recent visits to the UK and the USA I had talked to many world leaders and heads of organizations, and everybody was very much anxious about the food security. They think that 2023 will be a very dangerous year when there might be calamities and food crisis.”
She made the statement while delivering her introductory speech at the weekly meeting of the Executive Committee of the National Economic Committee, ECNEC held at the NEC Bhaban in Dhaka. The Prime Minister joined the meeting virtually from her official residence –Ganabhaban. Ecnec is an executive committee under the Cabinet Division to verify and approve all national important development projects.
“We must increase food production and preserve those. We must give special attention to preserving and processing food. Our land is very much fertile, and we have to increase our food production,” she added.
She reiterated her call to maintain austerity in every sphere of life, avoiding any unnecessary expenditure.
“All have to be alert and maintain austerity in using electricity, fuel, water, gas and everything else. I will request every family to go for savings in whatever they can. And this is applied to our government also,” she said.
She said that the government will not go for any unnecessary expenditure.
“We will just use whatever we need, not more than that. We do not have any scope for that. Because I saw anxiety among world leaders and heads of organizations. So, we must maintain enough cautionary steps,” she said.
The Prime Minister said that the country must be advanced, overcoming all odds, and the government will do that as long as people are with them.
“People are the biggest power for us. We do not have any tension as long as people are with us. We have to encourage the people and utilize them as we did while facing the coronavirus pandemic,” she said.
She said that the country needed to be free from the impact of recession that is coming from Ukraine war.
Sheikh Hasina also requested the Planning Commission not to spend their valuable time discussing inflation every time.
“Because many countries around the world do not discuss this often, The USA and the European countries as well,” she said.
“We also do not need any extensive discussion on this, but efforts should be there to keep prices of essentials within people’s reach. We will do whatever is needed,” she said.
About undertaking any projects, she said that all must think about the maximum benefit for the people.
“There is no need to hop in to undertake any unnecessary project when the fund is available. We have to take any project after very careful scrutiny so that we could get some return from that project, which will be beneficial to the country. We will take that type of project,” she said.
“I did not take any project like that, we were always cautious regarding that matter. We have to remain careful in the near future,” she said.
She added that her administration has a commitment to the people. “We feel that, we work for that.”
The Prime Minister stressed the need for completing the ongoing projects as quickly as possible, even if they need some extra money.
“If we complete the projects, we will be able to get benefits from those projects and the economy of the country will get positive impact from that. We have to sort out those projects and implement them quickly.”
PM also asked all the ministries to identify projects, which can be implemented a little bit slower.
Sheikh Hasina said that it is not possible to develop any country without the continuation of the democratic process.
“For 21 years the power was not in the hands of the people. Power was directly or indirectly inside cantonment. The country was run by military ordinances neglecting the constitution of the country,” she said.
She said that there was a farce in the name of democracy and vote rigging was a norm.
“We witnessed those. As a result, Bangladesh could not advance.”
PM said that after coming to power in 2008 the government established Bangladesh as a developing country.
“There is a reason behind this success, that is in the history of Bangladesh, democracy continued without any barrier. We were able to attain this success due to the unhampered continuation of democracy,” she said.
Read More: PM Hasina to discuss UK, US visit to media on Thursday
Prime Minister Sheikh Hasina today (25 April) called for speaking out against all forms of aggression and atrocities, and say ‘no’ to wars.
“We must speak out against all forms of aggression and atrocities, and say ‘no’ to wars,” she said adding that Bangladesh supports the UN Secretary General’s ‘New Agenda for Peace.
The prime minister was addressing the 80th Session of the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) held at the ESCAP Hall (2nd floor), United Nations Conference Center (UNCC) here.
She arrived in Bangkok on Wednesday on a six-day official visit to Thailand.
The PM said the pre-condition for sustainable development is lasting peace and security.
“We must settle regional disputes and tension through dialogue. Our mutual respect for national sovereignty and territorial integrity must remain paramount,” she said.
Hasina called upon the Asia-Pacific region, especially ASEAN, to redouble their efforts to end Rohingya crisis as all efforts at regional connectivity, integration, and prosperity will continue to be marked by a missing puzzle without it.
“The origin of their crisis has been in Myanmar, and its solution also lies in Myanmar,” she declared.
“As long as that solution remains out of reach, all our efforts at regional connectivity, integration, and prosperity will continue to be marked by a missing puzzle. Let us redouble our efforts to put that puzzle back in place,” she said.
She said that in August 2017, when thousands of Rohingya men, women, and children from Myanmar fled to Bangladesh, Bangladesh offered them temporary shelter.
“With an ever growing population, this has now become one of the largest humanitarian situations in the world,” she said.
Sheikh Hasina said that In the backdrop of ongoing armed conflicts in Myanmar, the Rohingya repatriation process is also getting delayed.
“This is creating serious security risks within and beyond our territories,” she said.
She called upon the Asia-Pacific region, especially ASEAN, to play a proactive role in resolving the volatile situation in Myanmar.
“We must ensure that the Rohingya can go back home in safety and dignity at the earliest possible,” she said.
The prime minister said that the Asia-Pacific region must stand united against its common enemies of poverty and hunger.
She said Bangladesh has reduced poverty from 41.51 percent to 18.7 percent between 2006 and 2022.
It also reduced extreme poverty from 25.1 to 5.6 percent during the same period.
“We remain confident about eradicating extreme poverty by 2030,” she said.
She mentioned that Bangladesh has made notable progress on food security, with focused interventions on maternal and child nutrition.
“Our current priority is to address inequalities through income distribution, asset ownership, and social protection,” she said.
The prime minister said that Asia-Pacific region must put up a united front in tackling the climate crisis, biodiversity loss, and transboundary pollution.
“We need to push for ambitious climate financing goals beyond 2025 at COP-29. We need to cooperate on cross-border water management and air quality improvement. We must all prepare for growing extreme weather events,” she said.
In this connection, she suggested looking into Bangladesh’s experience in disaster risk reduction.
“We appreciate UN-ESCAP’s support in improving our early warning capabilities,” she added.
Briefly describing various development programmes and achievements of her govebrment, the prime minister said that much of the development gains are affected by climate impacts.
“As a low-lying delta, Bangladesh has no option but to invest heavily in climate resilience,” she said.
She mentioned that Bangladesh is already recognised as a global leader in climate adaptation.
“We are happy to share our traditional and innovative solutions with other vulnerable countries,” she said.
She said that Bangladesh has urged developed and emerging economies in the region to raise their time-bound emission reduction targets.
“For economies in transition, it is important to have a just energy transition.”
In Bangladesh, she said, “we are working on long-term energy security with a sound mix of clean and renewable energy.”
“We shall continue to do our part in pursuing a circular and low-carbon economic growth pathway.”
She underscored the need for increased and easy access to financing and technology from both the public and private sectors.
“I invite UN-ESCAP to help build the capacity of climate-vulnerable countries to mobilise adequate international climate financing.”
PM Hasina said that Bangladesh now provides critical links to the Trans-Asian Highway and Railway networks.
“Our physical and digital infrastructures are being developed to foster regional trade and connectivity.”
She said Bangladesh offers access to the Bay of Bengal for land-locked territories in its neighbourhood.
“We stand ready to work together with all regional partners through mutual understanding and cooperation,” said the prime minister.
Bangladesh and Qatar signed 10 cooperation documents on Tuesday, including five agreements and five MoUs, aimed at strengthening ties and elevating relations to new heights.
Prime Minister Sheikh Hasina and Qatar’s Emir Sheikh Tamim bin Hamad Al Thani witnessed the signing of the documents.
The five agreements cover cooperation in the legal field, promotion and protection of mutual investments, avoidance of double taxation, maritime transport, and the establishment of a Joint Business Council (JBC) between FBCCI & QCCI.
The five MoUs include cooperation in sports and youth, manpower employment (Labour), diplomatic training, education, higher education, scientific research, and between Qatar Ports management Company “MAWANI QATAR” and Chittagong Ports Authority.
Earlier in the morning, PM Hasina warmly welcomed and received Emir Sheikh Tamim at her office.
They had a tête-à-tête meeting at the Prime Minister’s Office, followed by a bilateral meeting.
After signing the visitors’ book, the emir headed for Bangabhaban where the president received him.
A high-level Qatari delegation led by Qatar’s emir is on a state visit to Bangladesh at the invitation of the president and the prime minister.
During the ceremony, a road and a park in Dhaka were named after Emir of Qatar Sheikh Tamim Bin Hamad Al Thani.
The park, constructed in Kalshi area of Mirpur under Dhaka North City Corporation, and the road from Mirpur ECB point to Kalsi Fly Over were named after Emir of Qatar.
Now, the road and park are known as Sheikh Tamim Bin Hamad Al Thani Avenue and Sheikh Tamim Bin Hamad Al Thani Park.
The Federation of Bangladesh Chambers of Commerce and Industries (FBCCI) is urging for greater involvement of marginal, small, and medium enterprises in international trade fairs. This initiative aims to spotlight Bangladesh’s promising products on the global market.
FBCCI President Mahbubul Alam made the call during the first meeting of the organisation’s Standing Committee on National and International Trade Fairs and Foreign Delegations. He emphasised the need to provide marginal, small, and medium enterprises with the space and resources to effectively display their products at these events.
“The participation of marginal, small, and medium enterprises is crucial at both national and international levels,” Mahbubul Alam said. “This will allow us to export Bangladesh’s promising products and open new markets.”
The FBCCI president informed that his organisation is actively discussing and collaborating with the government to make this a reality. He also proposed organising roadshows in neighbouring countries and Europe to revive the country’s handicraft industry and increase export opportunities for these products.
Standing Committee Chairman Nuruzzaman echoed Mahbubul Alam’s sentiments, highlighting Bangladesh’s vast potential and young population. “We need to move beyond the garment sector and focus on product diversification and market creation,” Nuruzzaman said.
Achieving this, he acknowledged, will require close collaboration with the Export Promotion Bureau, Ministry of Foreign Affairs, and Bangladesh Investment Development Authority.
FBCCI Senior Vice President Md Amin Helaly pledged the organisation’s support in facilitating increased exports through participation in foreign trade fairs. He stressed, however, the importance of raising awareness among Bangladeshis about the country’s diverse and promising products.
The meeting concluded with an open discussion where participants expressed keen interest in organising and participating in various sectoral fairs, both domestically and internationally, under the FBCCI’s umbrella.
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