Soaring inflation puts people in dire straits

Soaring inflation amid limited income have put the country's common people in dire straits, said speakers at a programme on Monday.

Besides, the commoners' woes and expectations have also not been reflected in the proposed budget for the fiscal year (FY) of 2023-24.

They came up with the observations at the programme, styled 'Review meeting on inflation and post-budget economy', organised by the Centre for Democracy and Peace Studies (CDPS) at the National Press Club.

Standing committee member of Bangladesh Nationalist Party (BNP) and former commerce minister Amir Khasru Mahmud Chowdhury attended the programme as the chief guest, with Chairman of Ganamukti Jote Shahriar Iftekhar Fuad in the chair.

IBAIS University Vice-Chancellor Professor Dr Zakaria Lincoln presented a concept paper at the programme, while the CDPS Director Dr Dewan Sazzad and former secretary Kashem Masud spoke on the occasion, among others.

Dr Zakaria Lincoln said Bangladesh's economy is on the verge of crisis due to inflationary pressure like that in many countries, including the United States, of which Venezuela has been the worst example.

There is a huge mismatch between the figures provided by the government and the actual inflation the commoners are facing, he said.

"Matters related to inflation should be taken care of to maintain social stability," he said. "Our request to the government is that it would take necessary steps to rein in the higher inflation for the sake of common people."

In his speech, Amir Khasru Mahmud Chowdhury slammed the government for failing to keep inflation in control.

He also raised questions about the legitimacy of the government to announce a budget.

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