Pre-poll political situation

Muhith rules out economic fallout

FE Report | Published: October 29, 2018 09:58:19 | Updated: November 04, 2018 21:35:06

Finance minister AMA Muhith said on Sunday it is a myth the government cannot do business in all areas.

"There are many areas where only the government needs to do business. And the government can attain success there," he said.

He made the comments at a function where state-run Sadharan Bima Corporation (SBC) handed over a dividend check to the minister at his office.

The government employees make good profit if they are placed in a private-sector business.

"In the public sector, the problem is rules and regulations need to be followed strictly. Here getting approval from different levels take time. Sadharan Bima is an example of how good business can be done following rules," Muhith said.

He said the corporation's income will continue to rise as the need for insurance coverage will increase simultaneously with the increase in the country's economic activities.

"Sadharan Bima is not in a monopoly business. It needs to compete with the private sector," he said, adding there are areas where the corporation gets priority, however.

Thanking the management for its success, Muhith said the allegation against the non-payment of insurance claims has now decreased significantly.

Replying to a question about whether the present political situation would hamper economic activities in the country, the minister said there is nothing to be worried about the developments in the political arena.

"The situation is completely stable. I think none will be able to make the situation unstable," he said.

Muhith believed that all the political parties, including the Bangladesh Nationalist Party (BNP) would participate in the elections.

Replying to a question regarding the strike by transport workers and owners, the minister said any attempt to create anarchy would be dealt with strictly. "The government will of course handle it."

On the occasion, the SBC management handed over a cheque for Tk 400 million to the minister as dividend for the calendar year of 2017. In 2016, a similar amount was paid to the government as dividend.

SBC chairman Prof Shibli Rubayat-Ul-Islam led the delegation in the meeting with the minister.

Managing director Syed Shahriyar Ahsan and director Tahmina Begum were present, among others.

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