PM Hasina for further austerity, wise govt spending

Prime Minister Sheikh Hasina has instructed all to further cut government spending and ensure a wise and effective use of funds.

"The spending cannot be stopped completely. So, we must be selective in expenditure," she said while chairing an Executive Committee of the National Economic Council (Ecnec) meeting on Tuesday.

"At the same time, the rate of [project] implementation should be increased," Planning Minister MA Mannan, in the post-meeting media briefing, said citing the premier.

"The prime minister has asked us to be more conscious in spending government funds, but not to halt expenditure where necessary," he said and added that the premier also called for increased participation of people in productive activities.

The minister presented Bangladesh's economic situation at the Ecnec meeting. "Despite a risk of global recession, we are hopeful that we will not see any waves of that in the country as all of our economic indicators are positive," he told reporters.

"The lower foreign exchange reserve is not the only factor to gauge the economy. Export-import, remittance, government borrowings and other indicators are also the factors which are performing well," he added and anticipated that the reserve will go up this year.

"So, there is no worry regarding the foreign currency reserve."

MA Mannan said the government's precautionary initiatives, such as the austerity in spending and a halt in luxury goods imports, have been beneficial for the economy. "We have to keep it going."
  
Elevated expressway in hoar project approved

The Ecnec on the day approved a Tk5,654-crore project for the construction of a 13.4km elevated expressway from Mithamoin to Karimganj in Kishoreganj, according to the planning ministry officials.

The project has been taken to ensure smooth and uninterrupted all-weather road communication in the hoar region.

"The large project, however, will not create any pressure on the government now as its land acquisition will take some two years," Planning Division Secretary Satyajit Karmaker said.

A total of 11 projects, including six revised ones, involving an estimated cost of Tk10,640 crore have been approved at the meeting. Of the total cost, the government will bear some Tk7,800 crore, while over Tk2,880 crore will come as project assistance.

Other key projects are the construction of a multipurpose hydraulic elevator dam on the Srimai canal of Chattogram's Patiya, prevention of river erosion to save the Sheikh Hasina Cantonment area in Barishal, dredging in the River Padma at Dohar of Dhaka (1st revision), construction of coal-fired power plant at Matarbari of Cox's Bazar (2nd revision) and the construction of the tunnel under the Karnaphuli River in Chattogram (2nd revision).
 
EVM purchase project not placed

The much-talked-about project related to the purchase of electronic voting machines or EVMs ahead of the 12th parliamentary elections was not placed at the Ecnec meeting despite an expectation of the Election Commission.

"There was no discussion related to the EVM purchase at the meeting. The project is still under scrutiny," said Planning Minister MA Mannan.

Earlier in November, Election Commissioner Md Alamgir said the plan of using EVMs in 150 seats would not be feasible if the project is not approved within 15 January.

The Election Commission forwarded the proposal for the Tk8,711-crore project to the Planning Commission early last month.