Prime Minister Sheikh Hasina has once again emphasized the importance of maintaining austerity in all areas to tackle the challenges posed by a global rise in inflation. During the first meeting of the Executive Committee of the National Economic Council (Ecnec) this fiscal year, she highlighted the need for stakeholders in both the public and private sectors to prioritize efficiency and prudent resource management.
The Prime Minister’s call for austerity comes at a critical time when Bangladesh is grappling with the impact of escalating fuel prices and economic volatility on the global stage. By urging all concerned parties to exercise restraint and avoid unnecessary consumption, she believes that the country can weather the storm and emerge stronger.
In a virtual address from the Gono Bhaban, Prime Minister Hasina underscored the significance of conserving resources and minimizing wastage. Planning Minister MA Mannan reiterated her message, stressing the importance of government officials and the general public alike embracing austerity measures.
State Minister for Planning Shamsul Alam echoed the Prime Minister’s sentiments, highlighting specific directives aimed at reducing energy consumption, such as limiting the use of air conditioners in public offices and discouraging the wearing of suits during the summer months. Additionally, the approval of a project to supply gas to the Mymensingh Combined Cycle Power Plant signals the government’s commitment to enhancing energy efficiency.
Amidst the economic challenges, there are promising signs of relief on the horizon. Mannan pointed out that prices of essential commodities like rice and edible oil are showing a downward trend, hinting at a potential decline in inflation in the near future. Furthermore, the Ecnec meeting addressed vital issues such as the distribution of seeds, fertilizers, and pesticides to marginalized farmers at no cost, underscoring the government’s commitment to supporting agricultural sustainability.
As individuals and organizations across Bangladesh heed the Prime Minister’s call for austerity, the collective effort towards responsible resource management will play a crucial role in navigating the current economic landscape with resilience and foresight. By embracing efficiency and prudence, the nation can chart a course towards stability and prosperity in the face of global challenges.