Bangladesh PM’s adviser assures early resolution to dollar crisis through various Government initiatives

The Prime Minister’s Private Industry and Investment Adviser Salman F Rahman assured recently that the ongoing dollar crisis in Bangladesh is on track for resolution, citing various Government measures.

Speaking at the Bangladesh Investment Development Authority (Bida) headquarters in Dhaka, Rahman emphasised the significance of increasing remittances and boosting exports as key factors to alleviate the current dollar pressure.

While acknowledging a significant decrease in imports, Rahman stressed that the pressure on the dollar continues.

To address this, the Government has prioritised enhancing opportunities in the leather and jute sectors, with an emphasis on exports from these industries.

Rahman expressed confidence that extending similar facilities to other sectors, such as the garment industry, would lead to an expanded export basket.

Highlighting the Prime Minister’s directives on export diversification, Rahman noted the enactment of a law allowing expatriates to keep their dollars in foreign bank accounts.

However, despite efforts, RMG products still constitute 80 per cent of exports, prompting a mixed response from the adviser. While new export products like flowers, fruits, and agro-processed items have emerged on a small scale, Rahman expressed both satisfaction and dissatisfaction, emphasizing the need for increased export volumes.