CA optimistic about improvement in economic situation
Thursday, 15 November 2007
FE Report
Chief Adviser (CA) Fakhruddin Ahmed said Wednesday the country's current economic slowdown will be over as the interim government has already taken some measures, including formation of a private-public business forum, to address the situation.
"The government's ongoing drive against corruption might have some sort of impact on the economic activities. Necessary steps have already been taken to improve the situation," Fakhruddin said while exchanging views with senior journalists of print and electronic media at his office in the city.
Among the measurers, the Chief Adviser said, the government's talks with members of country's business community are continuing in a bid to restore their confidence.
Besides, a 'Regulatory Reforms Committee' has also been formed to change the rules and regulations that are hampering the growth of country's business, the CA said.
"The government has also initiated a move to strengthen the activities of the agencies like the Board of Investment (BoI) and Bangladesh Export Processing Zones Authority (BEPZA)," he noted.
He, however, informed the media that the government would also constitute a 'Better Business Forum' within a couple of days for the promotion of the country's overall trade and investment.
Responding to a question on the spiralling prices of essential commodities, the head of the caretaker government said some import-dependent items namely rice, wheat, edible oil and powdered milk have gone up significantly due to rise in their prices in the international market.
"There is no denial of the fact that the common people are badly affected due to the sustained hike in the essential prices," the CA said.
Considering the situation, the government has already widened its 'social safetynet' measures with the extension of Vulnerable Group Feeding (VGF) programme to all the 64 districts of the country, he said, adding the government has also planned to launch open market sale (OMS) of rice again.
Besides, a process is underway to promulgate 'Consumers' Rights Protection Ordinance 2007', which will also play a positive role in bringing down the prices of essentials.
Fakhruddin mentioned that the point-to-point inflation had already declined to 9.6 per cent now from 10.1 per cent in August last.
He, however, stressed the need for boosting the country's agricultural output to help keep the prices of essentials at tolerable levels in the future.
Responding to another query, the CA said there is no valid reason behind the supply crisis of fertilisers in the country as the government has sufficient stock to meet its demand.
Three more sub-dealers will be appointed shortly under each authorised dealer to ensure smooth supply of fertilisers to the farmers across the country, he noted.
The government has to sell urea at Tk 5300 per tonne against its import cost of Tk 31,000 per tonnes, the CA said, adding that steps will be taken so that the farmers get the benefit of such official subsidy.
Replying to another question, Fakhruddin said over Tk 8.0 billion worth of siphoned-off money has already been brought back to the country from abroad.
He observed that his interim government came to power at a time when there were wholesale corruption, degradation of moral values and politicisation of administration.
The main task of the government is to create an environment for holding a free, fair and credible election in the country, he mentioned.
Against this backdrop, the government is providing necessary supports to the Election Commission (EC) for achieving the goal.
The EC has already started dialogues with the country's political leaders to bring about reforms in their parties, he added.
Besides, process is also on to strengthen the key state organs like Anti-Corruption Commission (ACC), Public Service Commission (PSC) and the EC.
Mentioning that the judiciary has already been separated from the executive, the CA said a move is also underway to make the local government organisations more effective.
The committee on 'strengthening local government' has already made its recommendations, he added.
"Like the separation of judiciary, it will be a significant step of the present interim government," said the CA.
Responding to a query on whether the government will initiate trial of the 1971 war criminals, he said, "This government has come to power for a limited period to accomplish some important jobs. So, taking up of such a big issue might distract us from the main goal."
He further said the war criminals can only be identified through legal procedures.
When asked whether he has any intention to hold dialogue with the country's mainstream political parties, the CA said, "Right now, I do not see any necessity of sitting with them. If necessary, I would definitely do it."
Answering a question on lifting of the state of emergency, he said it will go when a congenial atmosphere returns.
To another query on the necessity of seeking Supreme Court opinion for not holding the general election beyond the 90-day constitutional binding, he said, "The issue has not yet come up. If it does, opinion of constitutional experts will be sought."
About the announcement of the pending sixth Wage Board Award for the journalists and employees of newspapers, the CA assured the mediamen of taking quick steps in this connection.
The CA's Press Secretary Syed Fahim Munaim and other senior officials of the Chief Adviser's Office were present at the press conference, first by the head of the interim government that took the power in November 11, 2006.
Chief Adviser (CA) Fakhruddin Ahmed said Wednesday the country's current economic slowdown will be over as the interim government has already taken some measures, including formation of a private-public business forum, to address the situation.
"The government's ongoing drive against corruption might have some sort of impact on the economic activities. Necessary steps have already been taken to improve the situation," Fakhruddin said while exchanging views with senior journalists of print and electronic media at his office in the city.
Among the measurers, the Chief Adviser said, the government's talks with members of country's business community are continuing in a bid to restore their confidence.
Besides, a 'Regulatory Reforms Committee' has also been formed to change the rules and regulations that are hampering the growth of country's business, the CA said.
"The government has also initiated a move to strengthen the activities of the agencies like the Board of Investment (BoI) and Bangladesh Export Processing Zones Authority (BEPZA)," he noted.
He, however, informed the media that the government would also constitute a 'Better Business Forum' within a couple of days for the promotion of the country's overall trade and investment.
Responding to a question on the spiralling prices of essential commodities, the head of the caretaker government said some import-dependent items namely rice, wheat, edible oil and powdered milk have gone up significantly due to rise in their prices in the international market.
"There is no denial of the fact that the common people are badly affected due to the sustained hike in the essential prices," the CA said.
Considering the situation, the government has already widened its 'social safetynet' measures with the extension of Vulnerable Group Feeding (VGF) programme to all the 64 districts of the country, he said, adding the government has also planned to launch open market sale (OMS) of rice again.
Besides, a process is underway to promulgate 'Consumers' Rights Protection Ordinance 2007', which will also play a positive role in bringing down the prices of essentials.
Fakhruddin mentioned that the point-to-point inflation had already declined to 9.6 per cent now from 10.1 per cent in August last.
He, however, stressed the need for boosting the country's agricultural output to help keep the prices of essentials at tolerable levels in the future.
Responding to another query, the CA said there is no valid reason behind the supply crisis of fertilisers in the country as the government has sufficient stock to meet its demand.
Three more sub-dealers will be appointed shortly under each authorised dealer to ensure smooth supply of fertilisers to the farmers across the country, he noted.
The government has to sell urea at Tk 5300 per tonne against its import cost of Tk 31,000 per tonnes, the CA said, adding that steps will be taken so that the farmers get the benefit of such official subsidy.
Replying to another question, Fakhruddin said over Tk 8.0 billion worth of siphoned-off money has already been brought back to the country from abroad.
He observed that his interim government came to power at a time when there were wholesale corruption, degradation of moral values and politicisation of administration.
The main task of the government is to create an environment for holding a free, fair and credible election in the country, he mentioned.
Against this backdrop, the government is providing necessary supports to the Election Commission (EC) for achieving the goal.
The EC has already started dialogues with the country's political leaders to bring about reforms in their parties, he added.
Besides, process is also on to strengthen the key state organs like Anti-Corruption Commission (ACC), Public Service Commission (PSC) and the EC.
Mentioning that the judiciary has already been separated from the executive, the CA said a move is also underway to make the local government organisations more effective.
The committee on 'strengthening local government' has already made its recommendations, he added.
"Like the separation of judiciary, it will be a significant step of the present interim government," said the CA.
Responding to a query on whether the government will initiate trial of the 1971 war criminals, he said, "This government has come to power for a limited period to accomplish some important jobs. So, taking up of such a big issue might distract us from the main goal."
He further said the war criminals can only be identified through legal procedures.
When asked whether he has any intention to hold dialogue with the country's mainstream political parties, the CA said, "Right now, I do not see any necessity of sitting with them. If necessary, I would definitely do it."
Answering a question on lifting of the state of emergency, he said it will go when a congenial atmosphere returns.
To another query on the necessity of seeking Supreme Court opinion for not holding the general election beyond the 90-day constitutional binding, he said, "The issue has not yet come up. If it does, opinion of constitutional experts will be sought."
About the announcement of the pending sixth Wage Board Award for the journalists and employees of newspapers, the CA assured the mediamen of taking quick steps in this connection.
The CA's Press Secretary Syed Fahim Munaim and other senior officials of the Chief Adviser's Office were present at the press conference, first by the head of the interim government that took the power in November 11, 2006.