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‘Bangladesh will become a developed country under PM Sheikh Hasina’

Published : Thursday, 12 March, 2020 at 12:00 AM  Count : 433
AHM Mostafa Kamal MP Finance Minister

AHM Mostafa Kamal MP Finance Minister

Finance Minister AHM Mostafa Kamal expressed his confidence that Bangladesh will reach the goal of becoming a developed country by 2041 as envisaged. “Bangladesh will become a developed country under PM Sheikh Hasina”, he exuded confidence.
Bangladesh is poised to go ahead from the current economic status of 8 plus per cent growth rate, if the challenges are addressed. The economic challenges including the threat of novel coronavirus, the world has been facing, will be addressed with the cooperation of all the stakeholders including, businesspeople, industrialists, exporters and the bankers, he added. In response to a proposal raised at the seminar to devalue taka to cushion the falling export earnings Finance Minister AHM Mostafa Kamal however, rejected the proposal and said Bangladesh is not in a position to devalue taka.
As an import-based country the devaluation of taka might increase economic difficulties further, he said adding in case of devaluation of taka the foreign direct investment (FDI) would be adversely affected.
Defending the cut in the interest rate on bank loans the Finance Minister said that high interest rate lead to bank defaults. Mostafa Kamal blamed lack of appropriate laws to rein in bank defaulters who often take shelter in the higher courts to escape dragnet. He endorsed that there should be further reforms and discipline in banking sector and it should be achieved in consultation with the stakeholders.
The Finance Minister deplored that the stock market in Bangladesh is in doldrums despite the country's economy is strong. He said when the economy goes strong share markets thrive, but in Bangladesh stock market are in dire straits and there are things to address.
He said, there is no business for the government in the stock market and it will never interfere in its trading, but will extend all possible help to boost stock market, which has to thrive depending on the recognised market principles of free economy.
Mostafa Kamal assured the participants that the points and issues raised by the speakers at the seminar would be addressed in the upcoming budget for the financial year 2020-21.






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‘Bangladesh will become a developed country under PM Sheikh Hasina’
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