Home ›› 13 Feb 2023 ›› Corporate
Experts have called on authorities to diversify the country’s industry and exports to ensure a sustainable economic growth and prepare for future crises.
Speaking at a continuing professional development (CPD) programme on “Bangladesh Economy - Recent Challenges and Way Forward” on February 7, they also recommended rationalising interest rates, ensuring market-driven exchange rates, etc to tackle the looming crises on Bangladesh’s economy.
The event was organised by the Institute of Cost and Management Accountants of Bangladesh (ICMAB) at the ICMAB Ruhul Quddus Auditorium, reads a press statement.
Dr Mohammed Farashuddin, former governor of Bangladesh Bank attended the program as the chief guest while Mohammad Mamdudur Rashid, managing director and chief executive officer of NCC Bank Ltd attended as the session chair.
Among others, Md Mazibur Rahman, managing director, Probashi Kalyan Bank, and Dr Ziaul Abedin, joint secretary, Macro Economic Policy Analysis and Forecasting, Ministry of Finance were present as the commentators. Arif Khan FCMA, former president and present council member of ICMAB, presented the keynote paper of the CPD.
Speaking on the occasion, ICMAB President Md Abdur Rahman said, “The vision of the ICMAB is to help Bangladesh become an industrialised nation by promoting and regulating cost and management accounting to enhance economic competitiveness and quality of life.”
In the technical session, Arif Khan presented the economic scenario of the globe and the South Asian countries during the post-Covid period and the ongoing Russia-Ukraine war. He identified possible challenges for the Bangladesh economy, including current account deficit, depletion of forex, depreciation of the local currency, and high commodity price.
He suggested rationalisation of interest rates, market-driven exchange rates, and curbing the luxury import as the short-term action plan.
Meanwhile, in order to ensure the readiness for future crises and sustainable growth, Dr Farashuddin emphasised the necessity of industry and export diversification, access to finance for micro and small entrepreneurs, investment in education, skill-based training, and human resource development.
