Muhith casts doubts on pvt sector participation in PPP
Monday, 14 December 2009
FE Report
Finance Minister AMA Muhith cast doubts Sunday on active participation of private investors in the public private partnership (PPP) initiative of the government.
"I'm not sure whether the private sector's participation in the PPP initiative will take place at such a level, as was expected previously," Mr Muhith said.
But he also hinted at the possibility of rising investment by the private sector in some social sectors.
Mr Muhith was talking to newsmen after a meeting with Resident Representative of the UNICEF (United Nations Children's Fund) in Bangladesh at his secretariat office.
The finance minister admitted that the formulation of the proposed policy guideline on the PPP was lagging behind the schedule timeframe.
When his attention was drawn to the country's overall economic situation during the first year of the grand-alliance government, Mr Muhith said the economy is showing an upward trend.
The country's exports are turning around and growth of the real sector -- agriculture -still remains intact, he mentioned.
Citing the Bangladesh Bank Governor's recent observation, the finance minister said imports of capital machinery are on the rise, which gives the indication that the investment is increasing in the country.
"Our efforts have become more or less successful…The people's confidence is increasing," the finance minister said.
He, however, observed that the country's investment situation still remains poor among a few economic indicators.
About the installation of proposed new power units, he said implementation of power projects is being delayed because of the complex tender procedures.
Identifying the shortage of natural gas another problem, he said: "We have increased the gas supply to about 2000 mmfcd while it was 1400 mmcfd when we took the office."
The finance minister, however, blamed the 'misrule' of the previous government for the prevailing poor economic situation.
"Normally, I do not want to make any critical remarks but today I must say they (the previous alliance government) left the country on the verge of destruction," said Mr Muhith.
Replying to another query, he said the tenure of the BNP-led alliance government was 'misrule' while the past caretaker government created panic in the country.
When his attention was drawn to a higher GDP (economic growth) during regime of the BNP-led alliance government, Mr Muhith said: "The GDP growth at that time remained high mainly because the systems of BBS (Bangladesh Bureau of Statistics) was destroyed."
About the FBCCI's (Federation of Bangladesh Chambers of Commerce and Industry) initiative to create jobs for 10,000 people, the finance minister said: "It is a very encouraging move… I wish them all success."
Finance Minister AMA Muhith cast doubts Sunday on active participation of private investors in the public private partnership (PPP) initiative of the government.
"I'm not sure whether the private sector's participation in the PPP initiative will take place at such a level, as was expected previously," Mr Muhith said.
But he also hinted at the possibility of rising investment by the private sector in some social sectors.
Mr Muhith was talking to newsmen after a meeting with Resident Representative of the UNICEF (United Nations Children's Fund) in Bangladesh at his secretariat office.
The finance minister admitted that the formulation of the proposed policy guideline on the PPP was lagging behind the schedule timeframe.
When his attention was drawn to the country's overall economic situation during the first year of the grand-alliance government, Mr Muhith said the economy is showing an upward trend.
The country's exports are turning around and growth of the real sector -- agriculture -still remains intact, he mentioned.
Citing the Bangladesh Bank Governor's recent observation, the finance minister said imports of capital machinery are on the rise, which gives the indication that the investment is increasing in the country.
"Our efforts have become more or less successful…The people's confidence is increasing," the finance minister said.
He, however, observed that the country's investment situation still remains poor among a few economic indicators.
About the installation of proposed new power units, he said implementation of power projects is being delayed because of the complex tender procedures.
Identifying the shortage of natural gas another problem, he said: "We have increased the gas supply to about 2000 mmfcd while it was 1400 mmcfd when we took the office."
The finance minister, however, blamed the 'misrule' of the previous government for the prevailing poor economic situation.
"Normally, I do not want to make any critical remarks but today I must say they (the previous alliance government) left the country on the verge of destruction," said Mr Muhith.
Replying to another query, he said the tenure of the BNP-led alliance government was 'misrule' while the past caretaker government created panic in the country.
When his attention was drawn to a higher GDP (economic growth) during regime of the BNP-led alliance government, Mr Muhith said: "The GDP growth at that time remained high mainly because the systems of BBS (Bangladesh Bureau of Statistics) was destroyed."
About the FBCCI's (Federation of Bangladesh Chambers of Commerce and Industry) initiative to create jobs for 10,000 people, the finance minister said: "It is a very encouraging move… I wish them all success."