PM eyes power crisis biggest block to industrialisation

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Sundarbans, one of the tourist attractions in Bangladesh

FE Report
Prime Minister Sheikh Hasina Tuesday said the electricity crisis is the biggest impediment to local industrialisation. She assured of a tolerable level in load-shedding before the onset of next summer.
The Prime Minister has called upon the business community to brand the positive side of the country to global audience so that foreign investment is encouraged and job opportunities are created.
The electricity crisis is the biggest impediment to industrialisation of the country caused by lack of initiatives by the previous BNP-Jamat and other governments, Hasina told a conference on "Bangladesh 2030: Strategy for Growth," organised by the Dhaka Chamber of Commerce & Industry (DCCI) at a local hotel.
"We have planned to augment the power generation to 5,000 megawatt by the next year and 7,000 megawatt by 2013."
The Prime Minister in her speech said the businessmen will be the biggest beneficiary if branding is properly done.
"If positive image of Bangladesh is portrayed abroad, foreign investment will be encouraged followed by employment generation in the country,
which will be reflected in the income level growth of the masses and profitability of the business community simultaneously," the PM told the conference.
Prime Minister Sheikh Hasina said it is not possible for the government alone to make Bangladesh a middle-income country by increasing the per capita income to at least $2000.
"We need cooperation and participation from the private sector in the effort to expedite our development activities under the public-private partnership initiative," the Prime Minister said .
Finance Minister AMA Muhith, Industries Minister Dilip Barua, Commerce Minister Faruk Khan and Bangladesh Bank (BB) Governor Dr Atiur Rahman spoke at the function as special guests.
DCCI President Abul Kasem Khan presided over the inaugural session.
Addressing the function as chief guest, the Prime Minister underscored achieving massive industrial growth along with the progress in agriculture sector for the implementation of her government's `vision 2021' to turn Bangladesh into a middle- income country.
"The objective of the vision is to remarkably reduce the country's poverty level and to fulfil the basic needs of the people." Hasina maintained.
She said the country needs to put priority on setting up agro-based industries and to achieve 40 per cent contributions of the industrial sector to the GDP by the year 2021.
Terming Bangladesh as a country with immense possibilities, she said that poverty alleviation, creation of income generating activities as well as improved human life can be possible through undertaking proper and realistic programmes by both public and private sectors.
"Bangladesh's image was seriously dented during the regime of the past governments when the country was used to be considered by the global community as a hub of corruption, terrorism and militancy," she said.
Hailing the long-term strategy of DCCI, she expressed the hope that the country will be able to become one of the thirty largest economies of the world by 2030 with per capita income of at least US$ 6000.
Sheikh Hasina in her speech said her government has undertaken programmes like construction of Padma Bridge, deep-sea port and international airport alongside increasing the capacity of Chittagong and Mongla ports to address the need of businesses and taking the country to higher economic growth path.
The industries minister said Bangladesh needs a policy support to take it to double-digit growth. The current Industrial Policy has a long-term policy support for the country's businessmen and industrialists, Dilip Barua said.
The commerce minister said Bangladesh is moving forward with the cooperation of the private sector. We need the cooperation from the opposition political parties to implement our dreams of prosperity, the minister said.
The BB governor said the banking sector in the country has so far opened ten million bank accounts for farmers, which will help contribute to faster rural economic growth. He said BB has been relentlessly working to establish a digital Bangladesh by modernising and introducing online system in different banking activities and services.