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'Foreign officials stop visiting abroad to ease pressure on foreign exchange reserves' - English.DailyProbash.com
December 6, 2023, 10:55 am

‘Foreign officials stop visiting abroad to ease pressure on foreign exchange reserves’

  • Update Time : Wednesday, May 11, 2022
  • 64 Time View

‘Foreign officials stop visiting abroad to ease pressure on foreign exchange reserves’

Finance Minister AHM Mustafa Kamal said the government has decided to implement development projects that are not urgent now in six months or more. Because now the world is going through an unusual time. The government does not want to spend unnecessarily at this time. In particular, the government is wary of spending foreign exchange. Therefore, initiatives are being taken to reduce the import of luxury goods. Besides, it has been decided to stop the foreign visits of government officials to reduce the pressure on the foreign exchange reserves.

He made the remarks in a press briefing after a meeting of the Cabinet Committee on Public Procurement on Wednesday.

Responding to a question on the foreign visits of government officials, the finance minister said that the visits that are taking place now are those with prior approval. The Prime Minister has instructed not to allow new foreign travel without the current urgent need. As a result, the foreign tour is no more for now.

Journalists wanted to know from the Finance Minister that Bangladesh Bank has recently increased LC margin on luxury products. There are indications that this will curb foreign exchange spending. Is the government afraid for any reason? In reply, Mustafa Kamal said that the matter is simple When times are tough, decisions have to be made hard. Currently the situation in the world is not normal. These decisions are being taken considering the overall situation in the world. As long as there is instability in the outside world, such a difficult decision has to be taken. But hard does not mean that everything will be shut down. Luxury goods can be bought later. Projects that involve foreign exchange spending and are not urgently needed now will be implemented later. The government is doing everything it can to manage this unusual time. It is not clear when the Ukraine-Russia war will end. This war has affected the whole world.

Responding to a question on the skepticism of the country’s economists about the GDP growth figures, the finance minister said skeptics would have to sit down with those from whom the calculations were made. However, the GDP has been calculated in the same way. No changes were made. As a result, there is no doubt.

He said there is no need to doubt everything at all times. Everyone is a man of this country. Everyone wants the best in the country. The information that the government has released is for the people. As a result, how the GDP has been calculated will also be revealed. He said the biggest skeptic was the World Bank, the IMFO, which did not object to the government’s information. Rather agree with the

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