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Increased exports, remittances key to ease dollar crisis: Salman

by tbhad
Prime Minister’s Private Sector Industry and Investment Adviser Salman F Rahman identified increased exports and remittances as key factors in alleviating the country’s dollar crisis.

He highlighted the government’s initiatives to address the challenge effectively.

The PM’s adviser was speaking at a press conference of the Bangladesh Investment Development Authority (BIDA) held in the city’s Agargaon on Monday.

Salman F Rahman discussed the comprehensive steps taken by the government to boost exports, diversify trade, and create favourable conditions for expatriates to retain dollars in foreign accounts.

The ongoing decline in imports, coupled with targeted directives from the Prime Minister, positions the nation for a speedy resolution of the persisting dollar pressure, he added.

Salman F Rahman, also the Member of Parliament for Dhaka-1 (Dohar-Nawabganj), expressed confidence in the effectiveness of the latest initiatives.

He said, “The prices of some products in the country’s market have increased unreasonably. However, prices of many things have come down due to the government’s intervention.”

He said, “The Ministry of Finance and the Ministry of Commerce are working with other ministries on this matter. It is expected that the commodity prices will come under control soon.”

Salman F Rahman said two things – increasing remittances and increasing exports can help reduce the pressure at the moment.

“Many new initiatives are being taken to boost exports and remittances,” he informed.

Rahman stated, “It has been decided to increase opportunities in these two sectors by giving importance to the export of leather and jute products.”

“If other sectors like the garment industry are given the same facilities, he believes multifaceted exports will increase.”

Regarding the current gas crisis, he said, “It is temporary, and steps have been taken to import more LNG (liquefied natural gas) and increase supply from internal sources.”

He also expressed optimism about many new gas discoveries.

Concerning multi-faceted exports and the readymade garment (RMG) industry, Rahman noted, “We have identified many new products for  exports. For example, exports of flowers, fruits, and agro-processed products are already underway, albeit on a small scale.”

He said the export of garment products also started initially on a small or limited scale.

The adviser said furniture, refrigerators, air conditioners are also being exported now.

“We never imagined that Bangladesh could export so much. Our exports have diversified, but the volume is not increasing. The Prime Minister said that if other sectors are given the same benefits as garments, then we can achieve multifaceted export levels.”

Earlier on the day, Salman F Rahman joined a views-exchange meeting with various stakeholders and discussed development plans for his constituency.

Dhaka Deputy Commissioner Anisur Rahman and Superintendent of Dhaka District Police Md Asaduzzaman were also present on the occasion.

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