Prime Minister Sheikh Hasina has urged authorities to accelerate the formulation and implementation of projects under the Government to Government (G2G) initiatives. 

During a meeting of the Executive Committee of the National Economic Council (ECNEC) in Dhaka, the Prime Minister emphasized the need for expediting G2G projects with countries like India and China, as Bangladesh has agreements with them under Lines of Credit. Sheikh Hasina stressed the importance of avoiding delays or negligence in these initiatives, as they would enhance foreign currency flow to Bangladesh.

The Prime Minister also directed the Planning Commission to prioritize foreign-funded projects considering the current situation. During the ECNEC meeting, 18 projects were approved, with a total estimated cost of Tk 113.8791 billion. 

Of this amount, Tk 74.4534 billion will come from the government of Bangladesh, Tk 807.8 million from the concerned organization’s own fund, and Tk 38.6179 billion as project assistance.

Sheikh Hasina reiterated the call for maintaining austerity and boosting domestic production. 

She also addressed the inflation issue and emphasized the need for research to understand the differences in commodity prices across various markets. 

The Prime Minister highlighted the importance of establishing regional storage arrangements for perishable items such as onion and ginger.

The Planning Minister acknowledged the rising inflationary trend and the country’s power and energy shortage resulting in load shedding. 

The government’s priority now is to contain inflation and improve the power and energy situation. Efforts are being made to conduct trade with currencies other than the US dollar, and the government aims to keep inflation from increasing further and eventually roll it back.

Despite acknowledging the challenges, the Planning Minister expressed confidence in achieving the budgetary target of containing inflation at 6% in the next fiscal year.

Market interventions will be implemented, such as importing onion to control prices. While achieving a 6% inflation rate may be difficult, efforts will be made to ensure a smooth supply chain and prevent any disruptive elements.

The ECNEC expressed gratitude to the Prime Minister, Finance Minister, Finance Division, and others involved for presenting an excellent budget for the next fiscal year, considering the global uncertainties.