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BDR carnage after-effects on businesses to end soon

FE Report | March 05, 2009 00:00:00


Finance Minister AMA Muhith said Wednesday the stagnation that the businesses are now facing following the recent mutiny in the Bangladesh Rifles (BDR) headquarters would be over within a week.

He said the government's revenue budget will come under some pressure on account of providing pensions and other financial benefits to the families of BDR-carnage victims.

"The businesses have already faced some stagnation following the BDR carnage. But the situation is expected to return to normal within a week," he told newsmen after holding a meeting with representatives of the Bangladesh Corrugated Carton and Accessories Manufacturers and Exporters' Association at his ministry.

The minister also said: "Payments of pensions and other financial benefits to the families of the mutiny victims will put some pressure on government's revenue budget."

Since the pressure on the budget has emerged, some strategies will also be there to manage it, he observed.

Although the economy was expected to do well in the current fiscal, the ongoing global financial meltdown coupled with aftermath of the BDR mutiny could put some pressure on it. When asked about the extent of spending to be required for the payment of pensions and other financial benefits to the mutiny victims, he said it is yet to be calculated.

About the impact of the February 25 mutiny at the BDR headquarters on the country's businesses, Muhith said the businesses has faced some stagnation because of it.

"But the business activities is expected to return to normal within a week," he said.

Meanwhile, commerce minister Muhammad Faruk Khan Wednesday said the brutal BDR carnage at the Pilkhana will not hamper the economic activities of the country.

He was speaking as chief guest at the inaugural function of a three day International Construction Industry Exhibition, organised by the Bangladesh Association of Construction Industry (BACI) at a city hotel.

"The city is normal and every thing is going on uninterruptedly after 10 days of BDR mutiny, and the economic activities are continuing smoothly," Faruk Khan added.

The commerce minister also said construction industry has been playing a silent role in development of the country's infrastructure.

"Dhaka city has been so nice mainly because of the golden hands of construction engineers," he added.

He said the government will implement Padma bridge and Dhaka-Chittagong four-lane projects adding: "We need the help of the construction sector to implement those projects within a few years."

He also said the fair will develop friendship with international expertise and help exchange of experiences.

"Through this exchange, we will showcase our potentials in the construction industry," he added.

The exhibition is being organised as a sideline event of the 37th convention of International Federation of Asian and Western Pacific Contractors' Associations (IFAWPCA), which will start from today (Thursday).

The high-level IFAWPCA convention, hosted by BACI, will be participated by 270 construction experts and entrepreneurs including 220 foreigners from 17 countries.

A total of 23 leading local construction companies are participating in the fair to showcase their activities and achievements in the infrastructural development in Bangladesh.

Apart from local companies, three Indian companies are also participating in the three-day fair that will end on March 6. The fair will remain open from 10 am to 8:00 pm.

BACI President Sheikh Md Rafiqul Islam, IFAWPCA President Aminul Islam, its Secretary General Mir Zahir Hossain also spoke at the function.


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