Local government, rural development and cooperatives minister Md Tazul Islam at a dialogue on Wednesday said that a panic over economic condition was spreading but the country was in a bad situation.
‘People of the country are not starving anywhere and going without clothes. It is a part of the global economic recession that has hit the United Kingdom and the United States too,’ he said as the chief guest at an event held at Dhaka Reporters’ Unity in the capital.
Urban Development Journalists Forum, Bangladesh organised the dialogue titled ‘Price hike of essential commodities and fuel: distress in public life.’
Addressing a programme in Sunamganj, planning minister MA Mannan also commented that no one died yet due to price hike of essentials.
‘The Awami League government has made Bangladesh a developing country. People who do not like us are saying that things will go worse, people will die. It is true that the prices of things have gone up a bit, but no one has died yet, hopefully, will not die in the future,’ the minister said.
Tazul Islam said that economic condition of the country was still much better than many other developed countries. But a panic was spreading to frighten people.
‘Nobody can confirm what will be the ultimate situation except Allah. But we should not be afraid when our leader is Sheikh Hasina,’ he said.
Tazul Islam said that the government received two million dollar loan from the International Monetary Fund and refunded it.
He also said that the IMF and other organisations, including the ADB and the World Bank, were again offering loan for development.
‘If economy of Bangladesh was that vulnerable, they would not offer loan,’ he said.
The minister repeated that there was no shortage of rice but wheat. Government has arranged to give a subsidy for wheat production.
About money laundering, the minister said that the trend of laundering did not start during this government rather it started far back.
‘The situation in Sri Lanka and the situation in Bangladesh are not the same,’ he said, adding that Bangladesh would not go bankrupt.
He said that Sri Lanka developed their tourism but Bangladesh invested in food and agriculture, and Bangladesh was self-dependent in food.
Consumers’ Association of Bangladesh president Ghulam Rahman said that uncontrolled inflation deepened the crisis of the people.
He compared the present power situation with that of 2006 when frequent power cuts disrupted daily life.
He said that capacity charge of quick rental was taking toll on power.
‘The start of rental and quick rental was good but later it became a burden as the government failed to take pragmatic decision,’ he said.
He said that if the government invested in inventing new gas or oil in time the situation might not have arisen.
He said that the record price hike would intensify the prevailing problems.
Ghulam Rahman suggested that the government revise the price to mitigate the negative impact.
DU development studies professor Md Reazul Haque said that power cuts hampered agriculture when the country needed bumper production.
‘People need to know the steps government will take for controlling inflation,’ he said.
Dhaka University economics professor Rumana Huque said that government should give attention to increase export in order to get more foreign currency and to reduce import.
‘Stop less important mega projects, complete those which are almost completed,’ she added.
UDJFB president Amitosh Paul presided over the event where journalist Arun Karmakar and Padma Oil Company Ltd director Suzadur Rahman also spoke.-New Age
