The outbreak of coronavirus has hit Bangladesh’s economy hard. It needs no mentioning that this was caused by the crisis resulted in by Covid-19.
However, like most countries that have started functioning at near-normal levels, Bangladesh too is looking to implement measures that will prevent wastage of limited resources to bounce back in this time of epidemic.
A report published in this daily projected that the government has taken several initiatives to ensure that public money allocated for the development projects are spent in a judicious way from the very outset of the new fiscal year.
We welcome this well thought-out and timely decision by the Prime Minister Sheikh Hasina. Effective use of the allocated budget in this critical time can ensure the safety net for cross-sections of people.
Effective use of the allocated budget in
this critical time can ensure the safety
net for cross-sections of people
Already, the allocated budget has seen a decrease in the budget of mega projects. We also agree with this decision of the government to stop or reduce money flow into less important development projects and supplement the ones which get precedence for the country to fight against the crisis at hand.
Another way to counteract the negative impact on the economy can be through the lessening of import of luxury items. We highly discourage this disposition of people who are still looking to benefit from this type of business and hope that the funding of this type of products can be used in more meaningful ways which will help the country stand strong again.
Perhaps money meant for the luxury items can be put to good use by procuring medical supplies that is more important at the moment.
On top of all these, we have to look forward to rejuvenating the crawling RMG sector to full steam. It is imperative that this sector is brought to full speed so that the trade losses that have been incurred can be brought back into the fold for better export earnings in future.
