PM rebuts Opposition claim of economy being in tailspin

Prime Minister Sheikh Hasina has rebutted opposition claims that the economy is in a tailspin, report agencies. "I want to tell you that the economic situation has not become critical. We have managed to keep it running. We are in a very good state in comparison to the world economic recession," she said Saturday. Speaking at function at Bangabandhu International Conference Centre marking the 40th National Cooperative Day, she refuted claims that there is a liquidity crisis in the country. "Many say that there is no money. But we have received billions of taka from the renewal of mobile-phone operators' licences. A few months later we will be receiving another such boost," the prime minister said. Hasina chided critics of government steps to develop agriculture. "Money shall flow to villages. Our economy is agro-based. If needed, all the money will go to villages. "We will do whatever is needed to save the farmers who sweat to grow crops for us. We want them to develop." Opposition BNP has been saying that the government's failures to manage the economy have put it in a crisis and prices of essential commodities have hit through the roof after it raised fuel prices. Hasina said she had instructed the Power Division to cut supplies for two days to those who wrote newspaper articles questioning the need to generate power by subsidising the sector. "They will write in the comfort of air-conditioned rooms using the power we generate. Let them feel what it feels like without power for two days." She added that no previous governments have been able to add so much power to the national grid as her current administration has. "We have addressed one at a time the problems that were there when our government took over. We have produced 5,600MW of power." She urged the people to save more power and said, "People start screaming when power prices are hiked. But it costs to generate power and lay transmission lines." Hasina said her government under its 'Ashrayan Project' rehabilitated over 50,000 families during its previous term. "The people under the project will be provided with loan and training to be self-reliant," she said. Hasina said the demand and the prices of the processed foods are high Abroad. She advised people to process various food items, including fish and vegetables under cooperative society to enlarge the country's export basket. (More on page 2)