Home ›› 10 Feb 2023 ›› Front
Experts at a programme have said rationaliation of interest rates, market-driven exchange rates and curbs on luxury import as a short-term action plan can save US dollar.
To ensure the readiness for future crises and sustainable growth, the country needs industry and export diversification, they said while speaking at the Continuing Professional Development (CPD) Programme on “Bangladesh Economy-Recent Challenges and Way Forward.”
The Institute of Cost and Management Accountants of Bangladesh (ICMAB) organised the programme at ICMAB Ruhul Quddus Auditorium in the capital on February 7.
While speaking as the chief guest, former governor of Bangladesh Bank Farashuddin Ahmed emphasised the importance of industry and export diversification in a bid to ensure the readiness for future crises and sustainable growth.
The economist also laid stress on access to finance for micro and small entrepreneurs, investment in education, skill-based training, and human resource development to overcome the future challenges.
“Despite existing challenges, I am intensely hopeful about the country’s economy as it has successfully tackled the Covid-19 effects,” he added.
Arif Khan, former commissioner of BSEC and president of ICMAB, at the technical session presented the economic scenario of the globe and the South Asian countries during the post-Covid period and ongoing Russia-Ukraine war.
While explaining the effect of the global economic crises on Bangladesh economy, Khan identified prevailing current account deficit, depletion of forex, depreciation of the local currency, and high commodity prices as possible challenges for the Bangladesh economy.
The economic analyst suggested rationalisation of interest rates, market-driven exchange rates, and curbing luxury import as the short-term action plan. “It can reduce the greenback crisis.”
The programme started with a welcome speech delivered by Mohammed Salim FCMA, Past President and Present Council Member of ICMAB.
In his speech, ICMAB President Md. Abdur Rahman Khan FCMA highlighted the ways professional cost and management accountants are contributing to Bangladesh economy.
“The vision of 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,” he said.
A good number of professional CMAs took part in the question-answer session. The programme ended with a vote of thanks by Md. Kausar Alam FCMA, Secretary of ICMAB.
