Home ›› 10 Nov 2021 ›› World Biz
Fuel price hike, inflationary pressure, falling remittances and the new COVID-19 wave are emerging challenges that are affecting the economic recovery of Bangladesh, according to The South Asian Network on Economic Modeling (SANEM).
“The government could provide incentive in fuel sector not to increase the prices. Subsidising the rising price of fuel oil would make its benefits available to people of all walks of life,” SANEM Executive Director Selim Raihan.
The current fuel price hike will impact on daily essential products that would create an extra pressure on poor people in the country, he said.
Selim Raihan, also Professor of Economics Department at Dhaka University came up with the remarks at the webinar titled, “COVID-19 and Business Confidence in Bangladesh: Findings from the 6th round of a nationwide firm-level survey.”
The sixth round of the survey was conducted nationwide in October 10-27, 2021 on 500 firms which provides insights on economic recovery.
Various sub-sectors of manufacturing and service sector, such as garments, textiles, leather and leather products, pharmaceutical, food processing, plastics, electronics, light engineering, retail and wholesale business, hotels and restaurants, financial institutions, ICT institutions, construction sector, transportation sector, etc. were included in the survey.
The executives of the surveyed firms were asked about business costs, sales, profits, investment situation, employment, salaries, loan receipts, future business prospects.
The noted economist also suggested the authorities concerned to take stern surveillance on gas-powered vehicles so that the fare is not increased on the pretext of rising fuel prices.
