Finance Minister AHM Mustafa Kamal Tuesday assured that no one would be looser in the upcoming national budget for fiscal year (2022-23) since the government would play an active role to facilitate the overall economic activities including the businesses.
“None will be looser in the next budget, rather all will be winner. The businessmen will be more attentive to their businesses as the government will play an active role in this regard. Our Prime Minister has also directed us to this end,” he said.
The finance minister said this while responding to a barrage of questions after chairing two separate meetings virtually on the Cabinet Committee on Economic Affairs (CCEA) and the Cabinet Committee on Government Purchase (CCGP).
He said it is the belief of the Prime Minister that all necessary infrastructures are being developed in the country while the countrymen are now educated enough to supplement the government initiatives for unleashing huge development works.
Mentioning that it is now the task of the government to further supporting the businesses, Kamal said that the government would facilitate them further through monetary and fiscal policy.
He said the private sector in the country is now pursuing the slogan “Made in Bangladesh” over the last one year while the people of the world now thinks that Bangladesh is a country which is now capable of delivering things.
The finance minister hinted that the government would support those projects and initiatives which would generate more employments in the country and thus a ‘win-win’ situation would be established.
Responding to a question about the necessity for renewing the timeframe of rental power plants, Kamal said that another 3,000 MW of power is likely to be added to the national grid within one year.
He said once such additional power would be available, then there would be no such necessity of the rental power plants.
The finance minister said considering such thing, the government renewed the tenure of five rental power plants by only two years against the demand for five years.
“In between, we’ll be in a position to sustain ourselves and thus we’ll be able to stand on our own feet. But clearly there is one condition which is ‘no electricity, no single payment’. There is no such thing for apprehension,”
Replying to another question, he said that the ongoing war between Russia and Ukraine has brought about some uncertainties in the economy as no one could have thought of the war at this moment.
Turning to the recent observation of Centre for Policy Dialogue (CPD) on the country’s economic situation especially on inflation, Kamal said that there is no problem in the government system or mechanism while there is also no problem in the monitoring side.
He also suggested for comparing the inflation trend of Bangladesh with those of neighboring countries like India, Pakistan, Sri Lanka and other Southeast Asian nations.
The finance minister said when the inflation rate was flat in the country, the CPD then had suggested the government for devaluating the currency.
“Had we devaluated the currency at that time, then where we could have been right at this moment and what could also happen to the country’s people,” he questioned.
Kamal said that it is not right that none other than CPD understands everything adding, “I definitely acknowledge their contributions……but, their thinking or opinion may not be always right.”