IMF mission due soon
Saturday, 23 October 2010
FE Report
A high-powered mission from International Monetary Fund (IMF) is arriving in Dhaka shortly to review the country's macro-economic situation.
The multilateral donor recently sent a set of queries to the government for preparation of agenda for the mission that will visit the country from October 24 to November 4 next.
It wanted to know the implementation status of its previous recommendations on improving macro-economic situation and trend of businesses, specially export, import, remittance, L/C opening trend etc.
IMF has sent the queries to the finance ministry and requested it to furnish the necessary information within a shortest possible time.
As a member state, Bangladesh will have to furnish the required information relating to its economy although there is no project being implemented with the IMF loan.
Finance ministry has sent the queries to the relevant department including commerce ministry, Bangladesh Bank (BB) and National Board of Revenue (NBR).
On revenue earning, the IMF wanted to know the revenue earning projection of NBR, names of major revenue earning sectors, non-tax revenue.
It has also sought to know about profit of the Bangladesh Bank (BB) in 2009-10 and expenditure, outstanding revenue with the state-owned agencies and realisation of the revenue, status of the revenue expenditure including interest on saving certificates, salaries for pubic servants, amounts of outstanding foreign loans.
The agency has sought to know the government's plan on taking foreign loans, amount of loans taken from the government and private banks, fund assistance to non-government organisations (NGOs) from 2008-2010.
On existing power and energy situation, the IMF has sought audited financial statements of Bangladesh Petroleum Corporation (BPC), Bangladesh Chemical Industries Corporation (BCIC), Bangladesh Small and Cottage Industries Corporation (BSCIC), Power Development Board (PDB).
It has sought detailed information on energy prices, diesel price from 2008-09 to 2010-2011, price fixation strategies, profitable rates of diesel, kerosene, gasoline, natural gas and power.
IMF has made queries on probable energy price to be set by the government for next year.
The queries are also on financial strength of the country's scheduled bank for the period from December 2009 to June 2010, last three years deposit, amount of loans disbursed to agricultural and industrial sector will also be scrutinize in the next meeting.
A high-powered mission from International Monetary Fund (IMF) is arriving in Dhaka shortly to review the country's macro-economic situation.
The multilateral donor recently sent a set of queries to the government for preparation of agenda for the mission that will visit the country from October 24 to November 4 next.
It wanted to know the implementation status of its previous recommendations on improving macro-economic situation and trend of businesses, specially export, import, remittance, L/C opening trend etc.
IMF has sent the queries to the finance ministry and requested it to furnish the necessary information within a shortest possible time.
As a member state, Bangladesh will have to furnish the required information relating to its economy although there is no project being implemented with the IMF loan.
Finance ministry has sent the queries to the relevant department including commerce ministry, Bangladesh Bank (BB) and National Board of Revenue (NBR).
On revenue earning, the IMF wanted to know the revenue earning projection of NBR, names of major revenue earning sectors, non-tax revenue.
It has also sought to know about profit of the Bangladesh Bank (BB) in 2009-10 and expenditure, outstanding revenue with the state-owned agencies and realisation of the revenue, status of the revenue expenditure including interest on saving certificates, salaries for pubic servants, amounts of outstanding foreign loans.
The agency has sought to know the government's plan on taking foreign loans, amount of loans taken from the government and private banks, fund assistance to non-government organisations (NGOs) from 2008-2010.
On existing power and energy situation, the IMF has sought audited financial statements of Bangladesh Petroleum Corporation (BPC), Bangladesh Chemical Industries Corporation (BCIC), Bangladesh Small and Cottage Industries Corporation (BSCIC), Power Development Board (PDB).
It has sought detailed information on energy prices, diesel price from 2008-09 to 2010-2011, price fixation strategies, profitable rates of diesel, kerosene, gasoline, natural gas and power.
IMF has made queries on probable energy price to be set by the government for next year.
The queries are also on financial strength of the country's scheduled bank for the period from December 2009 to June 2010, last three years deposit, amount of loans disbursed to agricultural and industrial sector will also be scrutinize in the next meeting.