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Government has successfully controlled inflation |
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September 14, 2000
Sangsad Bhaban (UNB) - Finance Minister Shah AMS Kibria yesterday claimed that the government has successfully controlled inflation and maintained economic stability of the country. Replying to a question from dissident BNP lawmaker Maj (retd) Akhtaruzzaman (Kishoreganj), he informed Parliament that according to latest data, the rate of inflation on point-to-point basis in the month of June was 2.77 per cent while average annual inflation is 3.90 per cent. The main attribute for economic stability was the increase of production, Kibria said claiming that agriculture and industrial production had increased in the current year. To back up the statement about the industrial growth, he said in fiscal 1999-2000, the government distributed industrial term loans of Tk 2,524.45 crore while working capital loans up to Tk 9,884.26 crore, which is the highest in recent times. He said that to maintain stability of market price and control the flow of rice in the market, the government reinforced the purchasing system and had been distributing foodgrains to the people at fair price and through different programmes. The Finance Minister said that to ensure a remunerative price of agricultural products, particularly rice, the government is buying rice at high price. "We are buying Boro rice at Tk 13 per kg and are spending a lot of money in this regard. So far, we've bought five lakh tons of rice from the open market and has given permission to buy more one lakh ton to maintain stability of rice market," he added. Kibria said that for the convenience of farmers, the government is properly distributing fertilizer and other agricultural inputs to them that resulted in consecutive bumper crop in last three years. He said the government is following appropriate policies on currency and revenue, and has also adopted agricultural and industrial policies for ensuring proper management everywhere. |