Poverty to rise 'due to diesel, kerosene price hike'
FE Report | Wednesday, 2 July 2008
The price enhancement of diesel and kerosene by 25 and 40 per cent will contribute to an increase of 0.18 and 0.31 per cent respectively in the rural and 0.26 and 0.38 per cent respectively in the urban head-count poverty.
This was revealed in a study carried out on a number of critical issues of the national budget conducted by Shamunnay, a local think tank.
The government Monday increased the prices of diesel and kerosene by 37.50 per cent to offset the impact of overheated international oil market on the domestic economy.
Shamunnay, a research organisation, launched its June issue of the Bangladesh Economic Outlook (BEO) and the study was authored by Selim Raihan and AK Iftekharul Haque .
Noted economist Dr Wahiduddin Mahmud joined the launching ceremony as chief guest while Chairman of Shamunnay Atiur Rahman moderated the programme.
The BEO in its June issue said that the business confidence index (BCI) in April-June rose to 52.34 per cent from 50.83 per cent in the previous quarter(January-March), according to a survey.
The BCI has components of overall financial situation, investment, employment, business cost and sales order.
All components crossed the benchmark level of 50 this quarter excepting business cost and profitability.
According to the BCI, the employment situation in the entire business community stands at 55.43 per cent as firms and enterprises were expecting to recruit new personnel in the near future.
The most pessimistic outlook received from the business community was in respect to business costs, the report said and added that although the index point increased from 37.11 to 43.14, the confidence level is still far below the benchmark level.
This was revealed in a study carried out on a number of critical issues of the national budget conducted by Shamunnay, a local think tank.
The government Monday increased the prices of diesel and kerosene by 37.50 per cent to offset the impact of overheated international oil market on the domestic economy.
Shamunnay, a research organisation, launched its June issue of the Bangladesh Economic Outlook (BEO) and the study was authored by Selim Raihan and AK Iftekharul Haque .
Noted economist Dr Wahiduddin Mahmud joined the launching ceremony as chief guest while Chairman of Shamunnay Atiur Rahman moderated the programme.
The BEO in its June issue said that the business confidence index (BCI) in April-June rose to 52.34 per cent from 50.83 per cent in the previous quarter(January-March), according to a survey.
The BCI has components of overall financial situation, investment, employment, business cost and sales order.
All components crossed the benchmark level of 50 this quarter excepting business cost and profitability.
According to the BCI, the employment situation in the entire business community stands at 55.43 per cent as firms and enterprises were expecting to recruit new personnel in the near future.
The most pessimistic outlook received from the business community was in respect to business costs, the report said and added that although the index point increased from 37.11 to 43.14, the confidence level is still far below the benchmark level.