Mega project will not affect the balance of foreign exchange: Prime Minister in Parliament
rime Minister Sheikh Hasina has said that the project-related import expenditure will not adversely affect the country’s foreign exchange balance as there is foreign funding for mega projects other than Padma Bridge and Pigeon Deep Seaport.
Prime Minister Sheikh Hasina made the remarks in response to a question from Jatiya Party MP Fakhrul Imam in Parliament on Wednesday. Speaker Shirin Sharmin Chowdhury presided over the question and answer session.
Highlighting the data of 16 mega projects, Prime Minister Sheikh Hasina said the financial and economic aspects of the mega projects have been properly analyzed before approval. There is no risk of adverse impact on the implementation of these projects. That is why it will be possible to continue the implementation of the projects. Although most of the projects are funded by foreign loans / grants, their interest rates are relatively low and the repayment period and grace period are also very long. No major complications were observed in the case of debt relief.
Mega project will not affect the balance of foreign exchange
Mentioning that huge employment has been created during the implementation of the projects, the Prime Minister said that many project-centric backward and forward linkage industries / businesses have been developed. As a result, the country’s economic progress is being accelerated instead of being hampered indirectly. Apart from that, since these projects (except Padma Multipurpose Bridge and Pigeon Deep Seaport project) have foreign funding, the project-related import expenditure will not adversely affect the country’s foreign exchange balance.
Replying to a question by AKM Rahmatullah, Member of Parliament for the ruling party, the Prime Minister said that due to the escalation and the Russia-Ukraine war, the production and supply system has deteriorated, which has led to global inflation and rising commodity prices. Bangladesh is no exception. As a result of timely steps taken by the government, it has become possible to increase the production and supply of commodities in Bangladesh. Sadly, some unscrupulous individuals inside the country are trying to take advantage of this illegal stockpiling of daily commodities and increase prices
Highlighting the steps taken by the government to control the rise in prices of daily commodities, illegal stocks and market management, the Prime Minister said strict legal action is being taken against anyone who stocks any goods illegally after the government’s move.
Responding to a question from Jatiya Party MP Rustam Ali Faraji, Sheikh Hasina said that the flow of remittances has started to return to pre-Kwid normal as the remittances have not declined in the current financial year. In the fiscal year 2020-21, there was an abnormal growth in expatriate income during the Covid supermarket.
The Prime Minister pointed out some reasons for the decline in expatriate income in the fiscal year 2021-22 as compared to the fiscal year 2020-21. He said that at the beginning of the fiscal year 2020-21, the expatriates sent their savings to the country out of some kind of uncertainty. Many have lost their jobs or stopped trading and brought all the money back to the country. Now the situation is improving. Many expatriates have reduced sending remittances to the country to start new businesses.
The Prime Minister said the economy of Bangladesh has returned to normal after successfully coping with Covid-19 overcrowding but the economy of major major countries employing Bangladeshi workers has not yet returned to normal. As a result, remittances have been reduced due to the relatively low income of Bangladeshi workers working in those countries. He added that in the post-Corona period, global travel, communication and trade have become active. As a result, increasing remittance transactions outside the banking channels may be the reason for the decline in remittances.
Replying to a question by Syed Abu Hossain of Jatiya Party, the Leader of Parliament said that a total of দশ 69.61 million worth of agreements have been signed with India since 2006.
Responding to a question from Jatiya Party’s Mujibul Haque, Sheikh Hasina said the number and intensity of lightning is increasing at an unusual rate due to the change in weather patterns due to global warming.