Bangladesh to defer non-urgent projects to avoid foreign exchange crisis- Finance Minister Mustafa Kamal

Bangladesh to defer non-urgent initiatives to avoid international trade disaster- Finance Minister Mustafa Kamal

 

Bangladesh Finance Minister A H M Mustafa Kamal explained on Wednesday that the govt is incredibly considerably cautious about foreign exchange administration in see of the prevailing worldwide problem. He stated that the world is struggling with an abnormal predicament and the government does not want to make any unneeded international trade shelling out at this level of time. Actions are staying taken to lessen the import of luxury goods, reported the minister.

Talking to the media after the meeting of the Cabinet Committee on Government Order (CCGP), Finance Minister Mustafa Kamal reported that the federal government has resolved to delay all those projects which are not needed urgently for six months or extra to prevent a disaster of foreign exchange in the region, reviews the formal news company BSS.

Speaking about other measures to help save international trade, Mustafa Kamal reported that Prime Minister Sheikh Hasina has instructed that governing administration officers will not undertake any international tour unless it is urgent and important.

He mentioned that when periods are challenging, the govt has to make hard decisions. These conclusions are remaining taken taking into consideration the in general circumstance in the globe.

Bangladesh experienced a overseas exchange reserve of USD 44.08 billion greenback in April, as for each monthly facts released by the Bank of Bangladesh. It has arrive down from the substantial degree of USD 48 billion in August last calendar year. However, the overseas exchange reserve of Bangladesh is ample to meet the regular import monthly bill of 5-6 months, say the specialists.

Rajesh Jha/Dhaka/11.5.2022