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Economic crisis, inflation leave public life in the lurch: BNP

BNP on Tuesday voiced concern that the ongoing economic crisis and growing inflation have turned into a national crisis, leaving common people in the lurch.

Speaking at a press conference at the BNP chairperson’s Gulshan office, party Secretary General Mirza Fakhrul Islam Alamgir also said the nation will not get rid of the ongoing economic crisis unless the ‘corrupt and incompetent’ Awami League government is removed from power.

“The people of the country are living a miserable life due to increasing price inflation of daily necessities, including, electricity, fuel, transportation, and food. Almost all macroeconomic indicators are becoming weaker and acute,” he said.

In present-day Bangladesh, the BNP leader said there is only screaming all around for want of food and money. “The entire country has become a kingdom of scarcity. People are facing a suffocating situation, due to the high prices of everyday goods. Thus, the country’s economy has plunged into a great crisis.”

He said the government has shown the inflation rate was 9.52 percent in August last but the non-food inflation is hovering around double digits. “In January, this rate was 9.8 percent.”

Fakhrul said the prices of all goods in the market are gradually going up. “The prices of rice, lentils and eggs are skyrocketing while the per kg of broiler chicken is now over Tk 200. But the government’s Bureau of Statistics (BBS) shows general price inflation at 8.57 percent and food inflation at 7.76 percent. The economists are expressing doubt about the data.”

He alleged that an economic anarchy has been created in the country because of repeated increase in electricity and gas prices, dwindling reserves, unprecedented dollar crisis and devaluation of money against the dollar, mismanagement in banking and financial sector, wrong policies, rampant corruption, siphoning off money abroad, increase in loan defaults, economic income inequality, lack of good governance and lack of democracy.

Coming out of its usual denial syndrome, the government was forced to admit the persisting economic crisis in the country in its letter sent to the IMF, the BNP Secretary General said. “The government is taking loans from the IMF on tough conditions to deal with the situation. In other words, they are now relying on borrowing from banks and IMF loans.”

He said the government does not want to acknowledge the country’s economic crisis as it has no accountability. “They’re not elected by the people and public votes.”

The BNP leader said the government is always running a false campaign through the media by spreading fear among journalists and establishing its control on the press. “This propaganda is essential for those who are fascists and dictators to give people a false impression.”

Replying to a question, he said the current government must quit power to overcome the current economic crisis. “When this regime will go, the competent people can work and take effective steps to resolve the problems.”