Finance Minister AMA Muhith Tuesday said tackling inflation will be a very tough job for the incumbent government in the coming days.
"The problem of inflation was not that worrying at the time of our assuming power. But with the food and fuel prices soaring in the international market, inflation started galloping up," Muhith told a 32-member joint visiting team of German government and EU delegation.
The meeting was held at the conference room of the Ministry of Finance (MoF).
Muhith said though the country harvested a bumper crop, it had very small impact on the market.
The 32-member team was jointly led by German Federal Minister for Economic Cooperation and Development and the Commissioner for Development Cooperation of the EU at the talks.
The German minister Dirk Niebel emphasised on creating corruption and bureaucratic hassle-free environment congenial for investment.
The EU Commissioner Andris Piebalgs said the government must step up efforts to contain corruption otherwise the aid money would not be effective.
"I have nothing special in my mind but you need to really demonstrate strong leadership to fight corruption," the EU Commissioner said.
"We are looking at the ways to increasing the attractiveness of your country for our investment. You should also fix energy problem to woo long-term foreign investment," the EU Commissioner added.
The finance minister sought foreign investment and assistance from the European Union and Germany for the country's transport and energy sectors.
Muhith said the government has already initiated a number of large projects to produce required power and address the nagging power problem .
"Still, we need huge investment for the development of the sector," Muhith told the reporters after the meeting.
"We are also in a process of importing LNG from Qatar and it's expected to take two to two and half years," he added.
"During the global recession, the International Monetary Fund (IMF) refused to support our balance of payment (BoP), but now we need BoP support from the multilateral lending agency as we have problem now," Muhith said.
Muhith said that a German private company wants to invest 30 million Euro insocial business in Bangladesh.
"As per our regulation after a certain period the company must go to the stock market. But it is a problem that social business cannot go to the share market," Muhith said.
"The problem of inflation was not that worrying at the time of our assuming power. But with the food and fuel prices soaring in the international market, inflation started galloping up," Muhith told a 32-member joint visiting team of German government and EU delegation.
The meeting was held at the conference room of the Ministry of Finance (MoF).
Muhith said though the country harvested a bumper crop, it had very small impact on the market.
The 32-member team was jointly led by German Federal Minister for Economic Cooperation and Development and the Commissioner for Development Cooperation of the EU at the talks.
The German minister Dirk Niebel emphasised on creating corruption and bureaucratic hassle-free environment congenial for investment.
The EU Commissioner Andris Piebalgs said the government must step up efforts to contain corruption otherwise the aid money would not be effective.
"I have nothing special in my mind but you need to really demonstrate strong leadership to fight corruption," the EU Commissioner said.
"We are looking at the ways to increasing the attractiveness of your country for our investment. You should also fix energy problem to woo long-term foreign investment," the EU Commissioner added.
The finance minister sought foreign investment and assistance from the European Union and Germany for the country's transport and energy sectors.
Muhith said the government has already initiated a number of large projects to produce required power and address the nagging power problem .
"Still, we need huge investment for the development of the sector," Muhith told the reporters after the meeting.
"We are also in a process of importing LNG from Qatar and it's expected to take two to two and half years," he added.
"During the global recession, the International Monetary Fund (IMF) refused to support our balance of payment (BoP), but now we need BoP support from the multilateral lending agency as we have problem now," Muhith said.
Muhith said that a German private company wants to invest 30 million Euro insocial business in Bangladesh.
"As per our regulation after a certain period the company must go to the stock market. But it is a problem that social business cannot go to the share market," Muhith said.
Comments
Post a Comment