Muhith backs BB's policy of belt-tightening

Finance Minister AMA Muhith Monday backed the central bank's strategy to squeeze credit in its new monetary policy, saying it would help check increased fund flow ahead of the national election.

Bangladesh Bank unveiled the monetary policy for January-June period at its headquarters Monday.

"Since this is an election year, there would be adequate flow of money. It would not be bad to tighten the flow of money," he told journalists, after a pre-budget discussion for fiscal year 2018-19.

All party parliamentary group organised the discussion at state guest house Padma in the city.

"The BB governor came to me and framed the monetary policy as per my suggestions. But it was not necessary as BB can take decision independently," he said.

The meeting stressed the need for social safety net programme in the upcoming budget.

Members of Parliament (MPs), economists and business leaders attended the meeting.

They laid emphasis on addressing the urban problem and suggested giving more allocation in this regard.

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