A senior member of the Cabinet has noted that it’s wrong to apprehend problems in Bangladesh drawing comparison with the ongoing turmoil in Sri Lanka, which has been fuelled by the South Asian country’s prolonged energy crisis and fiscal mismanagement.
The issue came up for discussion during a press conference after the latest meeting of the Executive Committee of the National Economic Council (ECNEC).
“The economies of Bangladesh and Sri Lanka are completely different and the fundamentals of the economy are also unalike. However, we are paying close attention to the opinions of experts and researchers. I think there is no reason to fear a situation like Sri Lanka in Bangladesh,” said Planning Minister MA Mannan on Tuesday.
He added, “Bangladesh government does not do any unnecessary work or take unnecessary projects in any circumstances. However, some quarters are trying to match the current situation in Sri Lanka with Bangladesh, which is not acceptable at all considering the economic and social aspects. It’s not right.”
Mannan said the ECNEC has given final approval for 12 projects at a cost of Tk1, 2016.88 crore. Of this, government funding is Tk 7, 990.14 crore, foreign funding is Tk 3, 000.39 crore and funding from its own source is Tk 594.43 crore.
Sri Lanka, which a decade ago was on the verge of emerging as an upper middle income country, is now on the verge of bankruptcy.