PM lays emphasis on increasing people's purchasing power

Prime Minister Sheikh Hasina today laid emphasis on expansion of domestic market and increasing purchasing power of people to make the local industry more effective.

"Alongside the export, we have to put concentration on expansion of domestic market and increasing the purchasing power of people. It will make our industry more effective and production will be boosted," she said, reports BSS. 

The premier made this remarks while addressing the inaugural ceremony of the month-long Dhaka International Trade Fair (DITF)-2023 at Bangabandhu Bangladesh-China Friendship Exhibition Center at Purbachal on the city’s outskirts.

She said today's diplomacy is not political; rather it will be economic diplomacy.

 "I've directed all the embassies and foreign missions to explore the products' demand abroad and to find out that what types of products we can export there or from where we can bring investment," she added.

She said analysing the demand and necessity of different countries, "we will produce products in our country and then we will export those to those countries".

All the embassies and foreign ministries have been asked to work to this end, she said, adding, "We will boost our trade in this way."

The prime minister again put stress on finding new markets and products for diversifying the export basket of the country.

"We are dependent on limited export items which need to be diversified. The more we will be able to diversify our products, the more we will find new markets and the more we can expand our business and incomes," she said.

Sheikh Hasina put emphasis on establishing food processing industries to tap the immense potentials of these items around the world.

"The demand of food items will not shrink, it will always increase," she observed.

The prime minister, from the programme, declared jute and jute products as the "Product of the Year 2023".

Highlighting that once the jute was the golden fibre of the country, she said the demand of jute will never come to an end as jute products are environment friendly.

She said, "We have been able to discover the jute genome, so we can produce a lot of products."