The government is not worried about the foreign reserve but just observing caution for the future, said Agricultural Minister Muhammad Abdur Razzaque.
“The ongoing mega projects will continue. The ones that are not imminently needed will move forwards at a slow pace,” he said.
He made the remarks while speaking to the media at the workshop of agriculture officials of Chittagong, Sylhet and Comilla region of Bangladesh Rice Research Institute at Comilla district Shilpakala Academy on Sunday.
The minister said that the increase in fuel and fertilizer prices will not affect the production.
He added that although the profit of the farmer is a little less, the incentive of the farmers will be considered during future Boro cultivation.
“We have to be careful now because of the economic crisis, but if we stay on budget, we can easily deal with this crisis.”
The minister also said that mustard oil used to be the main oilseed crop of Bangladesh: “At that time, we did not know palm oil well or soybean. At present we are dependent on foreign countries for 90% of our edible oil. Every year we spend more than two billion dollars on edible oil. We have taken a program to reduce our dependence on oilseeds to 50% within the next three years.”
The agricultural minister further added that crop production is increasing throughout the country including Comilla.
“We are making arrangements to export vegetables to international markets, which will strengthen our economy.”
Regarding the increase in the price of fuel, the minister said, the increase will definitely affect agriculture.
“Farmers will cultivate even if it is difficult and even if the profit is reduced this time, because the cost will increase. So even if the profit is less, the production will not decrease. Our selfless farmers even sell off personal possessions to buy fertilizers to produce crops.”
He said that the people of the whole country are suffering. “The prime minister said that if the war ends, we will bring down the price of oil again. We cannot put the country at risk. If more subsidies are given, the government's reserves will decrease. Rather, we are cautious now. The war will not last the whole year, then we will turn around,” he added.
