No one would benefit when storm hits: Planning Minister

Planning Minister MA Mannan has urged political parties to come to the negotiating table and resolve political issues without resorting to violence on the streets, saying that no one would benefit when a storm hits.

“I admit, there is certainly uncertainty. This is not a matter to hide,” he said, adding that violence will not bring down inflation or price hike. You have to come to a negotiating table,” he said at an event at a Dhaka hotel where the World Bank released a new report, titled “Bangladesh: Country Economic Memorandum-Change of Fabric”.

He, however, said the country’s violent phase is over, but there is vulnerability.

Dandan Chen, acting country director of World Bank for Bangladesh and Bhutan, made opening remarks at the function while its senior economist Nora Dihel, and lead economist consultant Zahid Hossain made two separate presentations on the issue, reports UNB.

Professor Selim Raihan, executive director of SANEM; Sonia Bashir Kabir, founder of SBK Tech Ventures and SBK Foundation; took part in the panel discussion at the event.

Responding to a question on economic reforms, the planning minister said it is a big failure that reforms could not be implemented in the banking and financial sector.

There are some historical facts behind it, he said, adding that reforms will definitely take place, but might not be in an intensified manner.

Responding to a question on currency swap and allowing Bangladeshi traders to use Chinese currency yuan for trade, he said currency swap will happen under a barter system.

The World Bank report focused on structural improvement to sustain high growth, boosting trade competitiveness and establishing digital connectivity and improvement of communication infrastructures for connecting rural areas with urban cities.