Economic pressure will increase if Middle East war continues: Finance Minister

Finance and Planning Minister Amir Khasru Mahmud Chowdhury has remarked that continued conflict in the Middle East will increase economic pressure on the country.

He stated, "We must acknowledge that the present is a difficult time. We took responsibility amid an economically fragile situation and then this Middle East war began. It has created significant economic pressure, and if the war continues, the pressure will increase further."

These statements were made by Finance and Planning Minister Amir Khasru Mahmud Chowdhury during a post-Eid exchange with media personnel at his residence in Mehedibagh, Chattogram, on Sunday morning. He is the Member of Parliament for Chattogram-11 constituency.

Amir Khasru Mahmud Chowdhury mentioned that the current government is very vigilant about energy security and continues to purchase energy.

He emphasised the importance of good management to ensure that mills, factories, and the power sector are not affected by energy shortages.

The situation is still relatively stable, and efforts are being made to maintain this stability. However, if the war persists for a more extended period, the pressure will continue to increase.

Finance Minister Amir Khasru Mahmud Chowdhury commented that this increasing pressure will ultimately fall on the people.

He noted, "As globally noted, the impact will be felt in Bangladesh too. We have not yet raised oil prices, increased commodity prices, or raised transport fares. We are attempting to manage and maintain stability. Public cooperation and support will be needed, and we must face this with restraint."

Commenting on the increased pressure on the country due to the Middle Eastern conflict, Finance and Planning Minister Amir Khasru Mahmud Chowdhury stated, "The war is not in our hands; it's happening elsewhere. However, its effects are felt across countries, including Bangladesh. The impact here is more significant because our primary source of energy comes from the Middle East."

The Finance Minister noted that efforts are being made to purchase energy from alternative sources in various countries. He mentioned that oil prices have not been raised, whereas many countries have increased them. The oil supply was normal, and during Eid, no one faced difficulties due to oil shortages, and transport fares were not increased.

Claiming that the new government inherited a sluggish economy, the Finance Minister reflected, "Poverty is rising, jobs are decreasing, and investments are declining. Overall, the economy we have inherited is slow-paced, settling at a very low level."

Finance Minister Amir Khasru Mahmud Chowdhury emphasised the need for the country to strive for self-sufficiency.

"We are attempting to keep the overall situation at a manageable level. The Prime Minister and ministers are tirelessly working. There are no holidays. Certain exemplary measures are being set, demonstrating the simplicity of the Prime Minister's movements. Some messages are being sent to the general public to curb wastage and corruption. To keep the economy running, past corruption must not be allowed, and wastage must be stopped," he added.

He further mentioned that before this Eid, wages and allowances for garment factory workers were settled.

"In previous instances, garment workers staged road blockades over wages. Factories were vandalised. However, arrangements for salaries were made in advance this time."

During this exchange, Chattogram-12 Member of Parliament Mohammad Enamul Haque, Chattogram Divisional Commissioner Md Ziauddin, and Deputy Commissioner Mohammad Zahidul Islam Miah were present.

The Minister of State for the Chittagong Hill Tracts and Land, Mir Helal, also exchanged Eid greetings with journalists.

He stated that there are allegations of corruption within the Land Ministry, and the government plans to minimise corruption within six months.

Additionally, the service of land offices will be extended to every union, making services more accessible to the public.

He made the remarks while responding to journalists’ questions during an Eid greeting exchange at his residence on Chatteswari Road in Chattogram on Sunday afternoon.

At the time, the State Minister mentioned that the government will make a six-month plan for the ministry, focusing on priority tasks.

The land office will be modernised, and all types of transactions will be moved online. This move will increase revenue and reduce corruption.