Prime Minister Sheikh Hasina on Tuesday directed all concerned to pay attention to ways to rein in inflation as the people are suffering because of it.
“Right now the prime responsibility for all of us is to fight inflation,” she was quoted as saying at a meeting of the Executive Committee of the National Economic Council (Ecnec) by Planning Minister MA Mannan.
The minister briefed reporters after the Ecnec meeting presided over by the prime minister, who is also the Ecnec chairperson, at the NEC conference room in Dhaka's Sher-e Banglanagar area.
She asked authorities to put emphasis on availing larger funding from foreign sources in case of implementation of projects to reduce pressure on the local currency and increase the reserve of foreign currencies.
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Noting that the foreign debt pipeline is getting large as Bangladesh uses fewer foreign loans, she asked the authorities concerned to use foreign loans in a bigger way.
Sheikh Hasina said if the trend of timely implementation of foreign-aided projects increases, disbursement of foreign loans would increase.
She asked authorities, including the Economic Relations Division (ERD), National Board of Revenue (NBR) and the Finance Division, to ensure that the government uses more foreign funding and foreign loans to finance development projects, which will also enhance the foreign exchange reserves.
The prime minister called for ensuring 100% of irrigation through solar-powered pumps gradually.
Referring to a project titled "Physical Infrastructure Development Project of BCS (Tax) Academy (Phase-I)" involving the cost of Tk116.32 crore, she directed the authorities to use less land during the implementation of such projects.
Ecnec on Tuesday cleared a total of 16 projects, including a Tk6,345 crore one to improve urban governance and infrastructure in 88 municipalities under 48 districts.