The outgoing interim government is preparing a policy-options paper focusing on fiscal and monetary measures for the newly elected government to attain their expected strategic targets, official sources said.
‘We are preparing a paper on fiscal polices for achieving the short- and long-term targets, like poverty alleviation, for the elected government,’ said a senior official of the finance ministry.
The official also said that the paper would also estimate the available resources for achieving targets by the commerce ministry and five divisions of finance and planning ministry. The five divisions are — finance, internal resources, planning, economic relations, and monitoring and evaluation.
Sources in the finance ministry said the secretaries or chief accounting officers of the divisions or ministry concerned would put their inputs in the paper to be submitted to the next elected government.
The finance ministry, which has estimated the country’s gross domestic product growth at 6.2 per cent in the fiscal year 2008-09, has begun outlining the paper titled ‘Global financial crisis: Policy options for the next government’.
Finance secretary Mohammad Tariq has been given the responsibility of preparing the policy-options paper for the next government likely to assume office on January 10.
‘The latest global situation is also believed to have offered new opportunities for countries such as Bangladesh in view of competitive advantages in a number of areas,’ said a senior official of commerce ministry.
He told New Age that the ministry was preparing the outlines for the policy papers that would identify sectors likely to create new opportunities in the global readymade garment sector.
‘We are also preparing suggested strategies for price hike of essential commodities on the local market,’ he added.
Sources said the Bangladesh Bank was also preparing a paper on increasing economic activities in the rural areas with suggestions like setting up more branches of private banks there.
Besides, it will also recommend new strategies to increase the country’s remittances, which stood at $768 million in November, up from $648 million in the previous month.
According to the National Board of Revenue, the country’s revenue earnings declined 15.33 per cent over July to November period in FY2008-09.
A report of the Implementation, Monitoring and Evaluation Division of the Planning Ministry reveals that only 18 per cent of the current fiscal year’s Tk 25,600-crore Annual Development Programme has been implemented between July and November 2008.
The NBR, Securities and Exchange Commission, Insurance Directorate, Export Promotion Bureau, Economic Relations Division, and IMED will also put their inputs in the paper.