High-powered body soon to tackle fallout of recession
Finance Minister AMA Muhith yesterday said the proposed high-powered committee would be in place anytime to work out strategy to face the possible effects of global recession on the country's economy.
"It will be there anytime. It is awaiting cabinet's approval," he told reporters on the sidelines of a three-day Bangladesh Chemical Congress that began in the morning at Teacher-Student Centre (TSC) Auditorium of Dhaka University.
Muhith on January 21 said the government would announce the committee within 15 days.
As per the proposal, the finance minister would head the committee to be represented by political leaders, trade body leaders and stakeholders of trade, industry and business to keep close watch on the effects of the financial crisis and take remedial measures.
However, he did not elaborate on the structure of the committee that would have the authority to take instant decisions to face any emerging challenges.
Earlier, Muhith told reporters that he would invite representation even from the opposition political parties.
The task force of officials formed earlier in this regard would work side by side while the Bangladesh Better Business Forum (BBBF) would continue to function.
As per the expert opinions so far, the issues of concern that deserve close attention by the proposed committee would include the impact on the country's exports and remittance inflow.
Bangladesh Bank Quarterly Report released on Thursday recommended keeping close watch on the impact of global recession on the country's exports and wage earners' remittance.
Experts and trade bodies suggested possible mechanisms to face the challenge would be to reduce lending rates to a tolerable level particularly for the export-oriented and manufacturing sectors and keeping exchange rate stable and competitive.
Addressing the congress, the Finance Minister said the new government is pledge-bound to ensure supply of arsenic-free water by the year 2013, he said.
Bangladesh Chemical Society (BCS) organised the 31st annual conference titled "Bangladesh Chemical Congress 2008" with the theme: Chemistry for Clean Water.”
Prime Minister's Adviser Dr Alauddin Ahmed, DU vice chancellor AAMS
Arefin Siddique, visiting Nobel Laureate and President Emeritus of
Taiwan Prof Yuan T. Lee, chairman of DU Chemistry Department Prof
Tajmeri SA Islam and BCS president Prof M Muhibur Rahman spoke at the inaugural session.