May 20, 2024, 12:13 am

Middle East situation may affect Bangladesh economy: PM

  • Update Time : Thursday, May 9, 2024
  • 6 Time View
Photo: Collected

Prime Minister Sheikh Hasina on Wednesday said the conflicting situation in the Middle East could affect social, political and economic sectors of Bangladesh like elsewhere in the globe.
“It can be assumed conflicting situation in the Middle East will affect the social, political, and economic aspects of Bangladesh as well as the whole world. This conflict may have some effect on the country’s economy,” she said.
The Prime Minister said this while responding to a question of Dr Samil Uddin Ahmed Shimul elected from Chapainawabganj-1 during PM’s question answer session in Parliament.
In particular, she said that due to the instability of the world market, inconsistency in market management and the increase in global fuel prices, there remains possibility of rise in the inflation slightly.
In addition, Sheikh Hasina said that the disruption of the commodity supply chain due to conflicting situation may increase transportation costs related to exports primarily to Iran or neighbouring regions. “For this, exporters may face tougher competition as the cost of manufacturing and supplying products increases,” she said. The Leader of the House said that in this situation she has directed all ministries and departments of the Government for keep eyes on the ongoing events in the Middle East and determines their own course of actions. “I have given instructions to make necessary preparations especially considering that this conflict might be prolonged as well as its impact over the sectors,” she said.
She, however, admitted that there is uncertainty regarding the magnitude of this conflict and its economic impact. “The government will take necessary measures in this regard,” she said adding that Bangladesh is against all forms of conflict.
“We believe in the path shown by the Father of the Nation and the principle which is friendship to all, malice to none,” she said.

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