Published: 04 Aug 2022, 05:20 pm
Secretary to the Prime Minister Dr Ahmad Kaikaus has said that the government
is thinking over taking loans from the International Monetary Fund (IMF) as
precautionary measures to tackle the global crisis in advance.
world is heading towards an economic recession and facing inflation of
currency. As a result, supply-chain (the network of all the individuals,
organizations, resources, activities and technology involved in the creation
and sale of a product) is being disrupted. In this context, the government is
mulling over taking IMF loans as precautionary measures to tackle global crisis
in advance," he said.
principal secretary said this while briefing reporters at the Prime Minister's
Office (PMO) on Wednesday.
government should do something positive considering the global crisis happening
in the world rather than doing nothing, he said.
to bail-out, he said the government did not seek bailout rather it is thinking
to take pragmatic steps in advance to address the upcoming or uncertain
situation of the country due to the adverse impacts of the continuation of the
However, the concerned authority such as the Ministry of Finance and the
Economic Relations Division are holding discussions with World Bank, ADB and
JICA for taking precautionary measures if war continues or the supply chain is
disrupted," he continued.
that matter, the initial proposal has just been made and further discussion
will be held in coming days, he said, adding that nothing has been finalized
yet to this end.
to the query whether Bangladesh is taking loan like Sri Lanka and Pakistan, he
said the country's statistics indicate that Bangladesh does not need loan as it
has sufficient foreign reserve with the help of which the people of the country
can live about 5.5 months.
the Prime Minister-led government's endeavors for the development of the
country, he said Bangladesh is now standing at a unique height as it is a
fastest growing country.
continuation of that, the premier of the country has made the long cherished
'Padma Multipurpose Bridge' ignoring all conspiracies hatched against her so
that she could not make it, he said.
that Bangladesh will never be like Sri Lanka, he mentioned that the government
is not hiding anything regarding the country's foreign currency and everything
is visible to everyone.
that Britain has also faced crisis situation, but Britain did not say that the
country will ruin amid such situation, the said.
the reduction of inflation in July last alongside the rise of the export at the
same time, he said all is possible due to the timely steps taken by the incumbent
government of the country.
about another contemporary issue like load-shedding occurring in the country in
phases, he said it seems that because of load shedding, the whole country has
been submerged into darkness.
(mindset of the people regarding the load-shedding) is too much. The matter of
load shedding has been pre-announced and it is continuing so that the
production is not hampered. We are tackling the situation through rationing,"
said that through this rationing process, the government is able to produce
less electricity in this hot weather utilizing less fuel or oil.
utilization of less fuel in power generation brings greater savings for the
country, he said.
to a question from journalists that when will the load shedding situation be
normal, he said it is dependent on global market and besides, the oil market is
fuel market is now facing the upward trend, he said, adding that the situation
of fuel and gas in the international market is also the same.
the government is working relentlessly to balance the differentiation of the
currency-valuation of the international market for which the country needs
foreign currency, he added.
fuel import from Russia, he said necessary discussion is being held to this end
and if the fuel is available, then it will be imported.
to the gas exploration in the country, he said that Bangladesh is fortunate
enough as gas has been explored frequently at many places of the country.
the gas exploration is very uncertain, he said, adding that for gas
exploration, drilling is required and it is costly and time consuming.
this case, he suggested importing gas by avoiding uncertain drilling saying it
is comparative advantage.
also mentioned that the country is maintaining a lower debt to the gross
domestic product (GDP) ratio which means it (the country) will not face any
difficulties to pay off its debt in future.
the country’s export situation, he said that as per the direction of Prime
Minister Sheikh Hasina, the government is paying heed to export-diversification
for increasing the country’s export-earning.
The premier especially advised the concerned authority to pay attention to agro-processing for export-diversification, Kaikaus added.