IMF review mission due on March 19

A review mission of the International Monetary Fund (IMF) will visit Dhaka from March 19-26 under its Extended Credit Facility (ECF) programme.

Officials fear that the IMF mission is coming to Dhaka to tag a condition for slashing down the total subsidies under its ECF programme.

It also wanted to increase the price of the gas and electricity before the budget of the next fiscal year 2014-15.

During the visit, three-member IMF review mission led-by ECF mission chief Rodrigo Cubero, is scheduled to meet finance minister AMA Muhith, Bangladesh Bank governor Atiur Rahman, and  Chairman of National Board of Revenue Ghulam Hossain.

The mission will examine the proposal of increasing energy price, risk of budget management, reduce the subsidy of the Bangladesh Petroleum Corporation and appointment of the foreign auditor and control of hard core loans and development of the state-owned banks including the security of vaults.

Those conditions will be examined for the release of fifth tranche of loan, according finance ministry officials.