Steps to check price hike, review of ADP projects urged

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Speakers at a pre-budget discussion yesterday urged the government to take measures against price hike of essentials and restore normalcy in the economic and social lives of the nation.
They also asked the government to review the ADP (annual development programme) projects and drop those which will be found dubious.

Bangladesh Institute of Development Studies (BIDS), a research institute, organised the seminar in the city and placed some recommendations regarding the upcoming budget.

The BIDS urged the government to discontinue tax holiday system and undertake an in-depth evaluation of the entire incentive structure.

Finance Adviser Mirza Azizul Islam and leading economists took part at the seminar presided over by Quazi Shahabuddin.

The finance adviser said the next budget would focus on poverty reduction and creating new employments. “We will also try to bring more investments in power sector and generate more funds for social safety net,” he added.

According to Mirza Aziz, production cost of per kilogram rice has increased by 16 paisa for the recent price hike of diesel. “We are planning to compensate the farmers, who were affected by the price spiral,” added the finance adviser.

Akbar Ali Khan, former adviser to a caretaker government, said inflation will be a great challenge for the interim government while preparing the next budget.

Regarding the latest fuel price hike, Akbar said petroleum price was hiked at such a time when inflation rate was on the rise.

About the PRSP (poverty reduction strategy paper), he said it is nothing but a book only. No local or foreign funds are available to implement the PRSP, Akbar said.

Referring to Dr Yunus’s dream to send poverty in the museum, the former adviser said, “Before that we should send the PRSP in the museum.”

Mustafa K Mujeri in his keynote paper recommended taking short-term measures to ensure smooth supply of essential commodities.

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