People suffering a bit due to fall in new jobs: Adviser

The overall economic situation is not so bad despite slight disruptions in businesses, finance adviser Salehuddin Ahmed has said, reports Prothom Alo. 

Although decreased trades impacted the people’s earnings, the economy is not heading to a disaster, he added. 

While speaking to the media after two advisory council committee meetings at the secretariat on Wednesday, the adviser noted that the interim government has rather buoyed the economy from heading to a disaster. 

He said creation of new employment has declined due to a slowdown in infrastructure projects and other business activities. The issue has been discussed in the meeting of the Executive Committee of the National Economic Council (ECNEC), and the government is trying to gear up businesses. 

“The government is trying to accelerate trade and business and has instructed the Bangladesh Bank to increase the credit flow to the SME sector,” he said, adding that people are facing some difficulties, and it requires creation of new employment opportunities. 

In response to a query on employment initiatives, the adviser said the Annual Development Programme (ADP) has been revised to address the challenges. Over closure of ready-made garment (RMG) factories, he said the government is providing cash incentives in some cases and trying to sustain the industry with various supports.

While commenting on the recent shutdown of 14 factories of the Beximco, Salehuddin Ahmed described it as an exclusive case. The government has stepped in to ensure workers receive their dues. It has talked to the Bangladesh Investment Development Authority (BIDA) and efforts are being made to explore alternative employment opportunities for affected workers.

Regarding projects funded by India‍‍`s line of credit, he said there is currently no plan to cancel the projects. 

“A decision will be made after a thorough review of all factors, instead of considering the government behind the projects’ undertaking. When such an agreement is made with a country, the decision needs to be taken in consideration of national economic interests, and projects cannot be scrapped hastily.” he explained. 

The finance adviser assured that there would be no electricity crisis in the upcoming summer. “Industries and households will not face power shortages,” he claimed.