Tag Archives: Finance Minister
Economic scenario gloomy, says FBCCI President
DHAKA, FEB 1: Finance minister AMA Muhith on Wednesday identified three powerful factors in Bangladesh’s economy which are main elements of absorbing any economic shocks. The factors are vibrant agriculture, laborious workers and good entrepreneurs. “The country is progressing due to these three factors,” he pointed out.
India defies sanctions, won’t cut Iran oil imports
MUMBAI, INDIA: India has joined China in saying it will not cut back on oil imports from Iran, despite stiff new U.S. and European sanctions designed to pressure Tehran over its nuclear program.
“It is not possible for India to take any decision to reduce the import from Iran drastically because, after all, the countries which can provide the requirement of the emerging economy, Iran is an important country amongst them,” India’s finance minister Pranab Mukherjee told reporters Sunday in Chicago.
India and China together accounted for 34 percent of Iran’s oil exports from January to September of 2011 — slightly more than Europe, according to International Energy Agency data.
Top UK official visits Dhaka Saturday
Dhaka, Jan 11 (bdnews24.com) – British secretary of state for international development Andrew Mitchell will come to Dhaka on Saturday on a four-day trip to visit DFID activities in Bangladesh.
This is his first visit to Bangladesh and he is scheduled to meet prime minister Sheikh Hasina, finance minister AMA Muhith and foreign minister Dipu Moni, and visit some Department for International Development (DFID) projects.
DFID, the largest bilateral donor for Bangladesh, will spend an average of £250 million per year in Bangladesh until 2015.
Muhith reiterates his earlier view on growth target
DHAKA: Just before the first half of the current fiscal ends, Finance Minister AMA Muhith on Wednesday once again said it will be difficult for the Bangladesh economy to grow at seven percent.
Seven pc GDP growth may not be attainable: Muhith
Dhaka, Dec 21: Finance minister Abul Maal Abdul Muhith has said the targeted seven per cent gross domestic product (GDP) growth may not be achieved this year due to high inflationary pressure that has originated mainly from subsidies.
The key Cabinet member admitted that his government had failed to take timely steps in different issues including fuel price adjustment, utilization of foreign aid, slow rate of public expenditure, managing deficit financing and low investment rate.
High inflation taking its toll on economy
Dhaka, Dec 19: The country’s economy was suffering from problems of high inflation and cost of high subsidy, both caused by a hike in global commodity prices and certain policy weaknesses, said finance minister AMA Muhith, on Monday.
No alternative to rental power plants: Muhith
Dhaka, Dec 7 (bdnews24.com) — The finance minister has insisted that rental power plants are needed immediately to ease power shortage, scotching criticism that fuelling these plants had led to depletion foreign currency reserves.
“We had no other option,” A M A Muhith said on Wednesday, claiming that without the rental plants, the outages would have been unbearable by now.
“Many are saying that fuel prices are rising due to the use of diesel and octane to run the plants. Their claims are baseless as there was no other option to address the power crisis,” he said while inaugurating the National Power Week.
Stock market overhaul: Steps in a day or two
DHAKA, NOV 20: A high level meeting on Sunday finalised a ‘package’ suggesting steps to enhance institutional investment and allow black money in the market without any question to revamp the ailing capital market. Finance minister AMA Muhith who chaired the meeting of the top stakeholders of the market told the meeting that the package would be declared within a day or two.
CNG price to be raised to diesel level
Dhaka, Nov 9: The price of Compressed Natural Gas (CNG) price will be raised to the level of the price of diesel, Finance Minister AMA Muhith said on Wednesday.
The key-policy minister, however, did not mention any specific date but hinted that the price hike is likely to be effective from anytime of remaining months of the current calendar year (of 2011).
“CNG price will be quite at par the price of diesel,” Muhith told reporters at his secretariat office.
He said the price increase will take place within this year.
‘Microcredit fails to help the ultra poor’
Dhaka, Oct 2: Microcredit has failed to benefit the ultra poor of the country although it catalyzes social transformation, finance minister AMA Muhith told a seminar here on Wednesday.
Japan intervenes to tame high-flying yen
TOKYO, Oct 31 (bdnews24.com/Reuters) – Japan intervened to weaken the yen after the currency hit a record high against the dollar on Monday, saying it acted to counter speculative moves that did not reflect the health of the Japanese economy.
The dollar spiked after the intervention as much as 4 percent past 79 yen from around 75.65 yen. The dollar touched a record low of 75.31 yen earlier on Monday.
Finance Minister Jun Azumi said Tokyo stepped into the market for the second time in less than three months on its own at 10:25 a.m. local time (1:25 a.m. GMT) and would continue to intervene until it was satisfied with the results.
Stock markets not operating as per lenders’ advice
Finance Minister AMA Muhith has outright rejected the recommendations of the World Bank (WB) and the International Monetary Fund (IMF) in restoring normalcy in the stock market
“Our stock market is not operating according to the advice from the officials of the international lending agencies
Stock markets not operating as per lenders’ advice
Finance Minister AMA Muhith has outright rejected the recommendations of the World Bank (WB) and the International Monetary Fund (IMF) in restoring normalcy in the stock market
“Our stock market is not operating according to the advice from the officials of the international lending agencies
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Muhith draws flak for remark on share investors
Two senior lawmakers of ruling Awami League on Thursday strongly criticised Finance Minister Abul Maal Abdul Muhith in parliament for his ‘objectionable’ comments about the investors in the share market
The finance minister on Thursday said in parliament that the country’s capital market was ‘peculiar’ and there was no second market like this in the world