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Implementation of projects under the Indian Line of Credit (LoC) funding will continue as the government has no plan to cancel those, said Finance Adviser Dr Salehuddin Ahmed while also speaking on overall economic situation on Wednesday.
"We had talks about LoC. When a project gets delayed, some people say-shut them. That is not possible. We have decided to continue the projects," he categorically stated while briefing newsmen after a meeting of the Advisers' Council Committee on Government Purchase at the secretariat.
He said the progress in the project implementation would be reviewed. Some projects have only one-to two-percent rate of going.
"Here, apart from financial matters, there are bilateral issues too… we take projects for the economic development but cancelling them is very sensitive matter," he told the inquisitive reporters.
On economic situation of the country, the custodian of exchequer of Bangladesh under the post-uprising government said the overall economy is not in a bad shape anymore.
He admits it is true that businesses are suffering from downturn and the source of income is limited. "But we have rescued the economy from the brink of collapse."
Mr Ahmed also said employment generation has slowed down and mentioned that, recently, the central bank was asked to provide loans to job-generating small and medium enterprises.
"But we acknowledge that some people are suffering to some extent from the present situation," he said apologetically.
Replying to a query on apparel sector, Mr Ahmed noted that some factories are being shut due to mismanagement.
He ruled out possibility of crisis in energy situation in the summer season.
Approvals are being given to import liquefied natural gas to meet the demands, he told the press about the remedies.
The purchase committee on the day approved the import of two cargoes of LNG, 30,000 tonnes of bagged granular urea fertiliser, and 10,000 tonnes of lentils, among others.
According to cabinet division officials, the meeting approved procurement of one cargo of LNG from M/S Total Energies Gas and Power Limited, Switzerland, at a price of Tk 7.54 billion with each MMBtu LNG costing $15.73.
Also, the meeting approved a proposal allowing the Petrobangla to buy one cargo of LNG from M/S Gunvor Singapore Pte Ltd, Singapore, for Tk 7.41 billion-each MMBtu LNG costing $15.47.
Moreover, the meeting cleared another proposal for the Bangladesh Chemical Industries Corporation (BCIC) to buy 30,000 tonnes of bagged granular urea fertiliser from KAFCO, Bangladesh, at Tk 1.54 billion. Each tonne of fertiliser will cost $422.62.
The purchase body also okayed a proposal allowing the Trading Corporation of Bangladesh (TCB) to buy 10,000 tonnes of lentils from Sheikh Agro Food Industries, Dhaka, at a price of Tk 954 million, with each kilogram costing Tk 95.40.