Finance
Sheikh Hasina Possibility of relief in reserves is getting stronger: PM in Parliament
Dhaka, June 22: Prime Minister Sheikh Hasina said that the possibility of relief in the reserve is getting stronger in the future. The Prime Minister shared this information in response to a question from government party MP Shahiduzzaman Sarkar in the national parliament on Wednesday.
She said the government has taken several steps to discourage unnecessary imports and encourage expatriate income. As a result, the possibility of relief in the reserve is getting stronger in the future.
The Prime Minister said that the reserve of foreign exchange was 32.94 billion dollars in the financial year 2017-18. Imports increased in FY 2021-22 as inflationary pressures and post-Covid boosted demand. As a result, there is some pressure on the trade balance of Bangladesh. After dealing with this pressure, it starts to decrease.
The head of government also said that the central bank started using foreign currency reserves to maintain the value of the rupee against the US dollar in order to control inflation. As a result, the rate of reserve depletion increases. As of May 31, the reserves stood at $29.87 billion, which is enough to cover import costs for more than four months.
Prime Minister Sheikh Hasina said in response to a question from Mahfuzur Rahman, a member of parliament of the government party, that about 55,000 hectares of fallow land have come under cultivation as a result of taking the initiative to cultivate fallow land.
Highlighting the various steps taken by the government in the agricultural sector, the Prime Minister said that as a result of the government's adoption and implementation of agriculture-friendly policies, the production of rice, maize, potatoes, vegetables and other crops is continuously increasing. Bangladesh has risen to third place in rice production in the world. Besides, Bangladesh is among the top 10 countries in the world in the production of 22 agricultural products. The agricultural sector of the country has played a leading role in dealing with the impact of Corona. The government is trying to continue agricultural production to deal with the current crisis.
In reply to the question of the member of parliament of the government party Noor Uddin Chowdhury, the Prime Minister said that the success of the Awami League government in implementing the promises of the communication sector is now recognized and appreciated in all circles.
She said that the bridge department has taken future plans for the development of the country's communication system. These include the construction of 40 km long Dhaka East-West Elevated Expressway and the construction of 258 km subway in Dhaka city and the construction of 86 km long Dhaka Inner Elevated Circular Road.
