Saturday 10, December 2022

Find ways to ease economic pressure

PM directs finance, commerce ministries, B

Time Digital Report:

Prime Minister Sheikh Hasina directed the finance and commerce ministries and Bangladesh Bank to find ways to deal with the economic pressure caused by the Russia-Ukraine war and Covid pandemic.

After a cabinet meeting held yesterday at the Prime Minister's Office, Cabinet Secretary Khandker Anwarul Islam told reporters that Bangladesh Bank was asked to find ways to address the volatile dollar market.

Taking part in the unscheduled agenda of the meeting, the PM instructed the ministries of commerce and finance to come up with a comprehensive plan within two or three days to address the price hike, the cabinet said when asked whether the rising prices of essentials were discussed.

"They [the ministries] will discuss how to handle the matter, where to put restrictions, and where to relax restrictions. They will give their reports," he said, adding that the reports would be published before the media.

The ministries were asked to decide within two or three days whether tax should be temporarily increased on fancy and non-essential goods, Anwarul said.

"Proposals were made to increase import taxes on fruits. It is summer. We have enough mangoes, blackberries, and jackfruits. Now, it will be decided whether the proposal is logical.

"We request you [reporters] to make constructive discussions. We're recovering from the Covid shock, but the war in Europe has not only created an economic crisis worldwide, but also a supply shortage.

"The inflation in the UK is nine percent and it is over eight percent in the USA," he said, adding that Bangladesh was not separate from the rest of the world.

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