United News of Bangladesh

The Centre for Policy Dialogue (CPD) on Monday urged the interim government to reconsider its recent decision to cancel 37 solar power plant projects, warning that the move could severely undermine investors’ confidence, particularly among Chinese stakeholders. The recommendation came during a seminar titled ‘Recent Challenges for Chinese Overseas Investment in Bangladesh’s Renewable Energy Sector: Way Forward’, held at a Dhaka hotel on Monday. The cancelled projects, worth over US $6 billion and totalling more than 3,287 megawatts in capacity, were approved under the previous Awami League government. The interim administration has cited political considerations and allegations of irregularities as reasons for the cancellation. Chinese investors, who had committed significant funding to several of the projects, expressed alarm during the event. Representatives from Jinko Solar, Chint Solar, and the Chinese Renewable Energy Industries Association (CREIA) joined Bangladeshi officials and sector leaders in voicing concern. Presenting the keynote paper, CPD Research Director Dr Khondaker Golam Moazzem and Programme Associate Abrar Ahammed Bhuiyan noted that 15 of the affected companies had already acquired land, meaning the cancellations could lead to financial and legal complications. CPD raises alarm over Bangladesh’s energy budget CPD warned that the government’s decision sends a negative message to the international investment community, particularly at a time when Bangladesh is seeking to expand its renewable energy capacity. The think tank emphasised that such policy reversals could deter future investment, not just from China but from other key partners as well. Among the special guests at the seminar were Jalal Ahmed, Chairman of the Bangladesh Energy Regulatory Commission; Mohammad Alauddin, Rector of the Bangladesh Power Management Institute; and Nahian Rahman Rochi, Head of Business Development at the Bangladesh Investment Development Authority (BIDA). Officials from both the public and private sectors stressed that policy inconsistency, land acquisition difficulties, and bureaucratic hurdles are key barriers to realising Bangladesh’s renewable energy goals. Bangladesh aims to generate 20 percent of its electricity from renewable sources by 2030, rising to 30 percent by 2040. This will require annual investments of nearly US $1 billion through the end of the decade, and even more in subsequent years. China, which invested approximately US $676 billion in clean energy globally in 2023, accounts for 15.1 percent of Bangladesh’s total FDI stock. More than half of Chinese FDI in Bangladesh is directed toward the renewable energy sector. Speakers at the event, including Masudur Rahim, CEO of Omera Renewable Energy Ltd; Mostafa Al Mahmud, President of the Bangladesh Sustainable and Renewable Energy Association (BSREA); and Han Kun, President of the Chinese Enterprises Association in Bangladesh, called for greater transparency and stability in energy sector policymaking. Proposed budget fails to holistically address economic challenges: CPD They urged the government to engage in constructive dialogue with affected investors and ensure that decisions do not jeopardise the country’s long-term energy security and investment climate.

Centre for Policy Dialogue (CPD) on Thursday raised serious concerns over Bangladesh’s proposed national budget for FY2025-26, warning that its fossil fuel-heavy focus threatens the country's clean energy transition and long-term sustainability. These observations were made during a dialogue titled ‘Power and Energy Sector in the National Budget for FY2025-26: Reflections on the Priorities for Energy Transition’, held at BRAC Centre Inn in Mohakhali, Dhaka. Energy Adviser Muhammad Fouzul Kabir Khan joined it virtually as chief guest. The panel included CAB’s Professor Dr M Shamsul Alam, Professor Badrul Imam of Dhaka University, BGMEA Vice President Barrister Vidiya Amrit Khan, energy expert Monower Mostafa and BKMEA Vice President Md Akhter Hossain Apurbo. CPD’s latest analysis warned that the energy budget undermines the government’s Three Zeros pledge – Zero Poverty, Zero Emission and Zero Unemployment, particularly the Zero Emission goal. It highlighted that without urgent reforms, Bangladesh may fall further behind in its energy transition. The budget, placed on June 2 and approved on June 22, is titled “Building an Equitable and Sustainable Economic System.” But CPD said it contradicts that vision by prioritising fossil fuels over renewables. Proposed budget 'traditional', lacking major reform approaches: Seminar Key Challenges Highlighted The study, led by Dr Khondaker Golam Moazzem and his team, identified several critical issues: ·Persistent Financial Losses: BPDB continues to face losses despite subsidies and tariff revisions, while profits by BPC and RPGCL often come at consumers’ expense. ·Rising Fiscal Burden: Power sector subsidies now account for 41% of the national total, with LNG import subsidies rising to Tk 9,000 crore for FY26. ·Overdependence on LNG: Domestic gas exploration is stagnant, and the Gas Development Fund is diverted to LNG imports. ·Mismatch Between Capacity and Supply: Despite growing capacity, outages persist due to inaccurate demand forecasts and fuel import limitations. ·Flawed Pricing Mechanism: The market-based fuel pricing model launched in March 2024 lacks transparency and is vulnerable to taxation and exchange rate shocks. ·Slow RE Progress: BPDB has failed to attract bidders for solar projects, and the cancellation of 37 LoIs has harmed investor confidence. ·Costly Debt: The government is relying on expensive short-term loans to pay dues, raising sustainability concerns. ·Policy Gaps: Key policies like the Integrated Energy and Power Master Plan (IEPMP) are under review, causing alignment delays. ·Deviation from Transition Goals: The budget’s emphasis on coal extraction and LNG imports signals a retreat from the Zero Emission commitment. Proposed budget fails to holistically address economic challenges: CPD CPD’s Recommendations ·         To realign with transition goals, CPD called for: ·         Ending tax exemptions for fossil fuel power projects. ·         Introducing carbon taxes and duties on fossil fuel plant imports. ·         Withdrawing all fossil fuel and LNG subsidies. ·         Prioritising domestic gas exploration using the Gas Development Fund. ·         Phasing out inefficient power plants. ·         Renegotiating unsolicited IPP contracts. ·         Scaling up renewable energy in the ADP and cutting import duties and VAT. ·         Creating a Renewable Energy Subsidy Fund. ·         Investing in smart grids to support RE integration. ·         Seeking low-interest MDB financing over short-term loans. ·         Reviewing energy policies with the 2040 RE target in mind. CPD said that the upcoming fiscal year will be a decisive test of the government’s resolve to uphold its climate and energy transition pledges.

Despite an increase in absolute allocation, the labour sector’s proportional share in the national budget has been declining over the years, economist Dr. Golam Moazzem said on Tuesday. Speaking at a roundtable titled “What Kind of Budget Do Workers Need?” at the National Press Club, the Research Director of the Centre for Policy Dialogue (CPD) pointed out that in the 2020-21 fiscal year, the allocation for the Ministry of Labour was 11 paisa for every Tk 100 in the budget. By FY2023-24, it had dropped to 9 paisa. The event was organized by the Bangladesh Textile Garment Workers Federation. “Even though the allocation has gone up in terms of amount, it has declined proportionally compared to other sectors,” Moazzem said. He attributed this downward trend to a longstanding tendency across all governments to treat workers as a lower social and political priority. “We expect to see how much of the Labour Reform Commission’s recommendations are reflected in the upcoming budget,” he added. Moazzem also urged political parties to ensure that at least 10% of their nominees in the upcoming national elections are workers or represent labour interests. NBR to remain split, misconceptions cleared: Finance Adviser In a written proposal, the federation’s president Mahbubur Rahman Ismail said that despite an agreement reached in September last year among worker representatives, factory owners, and the labour ministry to implement a rationing system, no measures have been taken yet. “Bangladesh is graduating from LDC status to a middle-income country. In such a context, it is unacceptable that workers continue to live below the poverty line,” he said. The proposal outlined eight key demands: introducing rationing for workers, allocating 10% of the national budget to the labour sector, building hospitals in labor-dense areas, forming a workers’ safety fund, establishing worker housing, creating a universal welfare fund, and forming a workers' caucus in Parliament. The Labour Reform Commission has also recommended rationing support for workers. BKMEA President Mohammad Hatem said that both BGMEA and BKMEA support all legitimate demands of workers. “This year, even a token allocation in the national budget could initiate the rationing system,” he said. “We also urge workers not to engage in destructive activities like arson and vandalism. While 95% of workers are peaceful, the remaining 5% tarnish the reputation of the entire sector.” Referring to past examples like the Adamjee Jute Mills, Labour Reform Commission Chairman Sultan Uddin Ahmed criticized modern factories for neglecting worker accommodation. “Factory owners today say that housing workers together could lead to increased political activity,” he said. Worker Dulal Chandra Mojumdar noted that even five-star hotels like Hotel Sonargaon maintain wage disparities and fail to provide housing for all staff. Raju Ahmed, General Secretary of the Bangladesh Workers’ Federation, stated: “Workers represent the largest share of the job market. Yet their votes hold little value. Without gaining power and participating in governance, workers’ demands will not be fulfilled.” Jasim Uddin, General Secretary of the Bangladesh Motor Vehicle Mechanics Federation, said: “We make broken-down vehicles run again — the government must listen to us. If not, we will be forced to take to the streets.” To press home their demands, including the implementation of rationing, President Mahbubur Rahman announced plans for mass rallies on May 30 in Gazipur, Savar, and Chattogram industrial zones, and on June 1 in front of the Department of Labour in Dhaka.

The Centre for Policy Dialogue (CPD) on Sunday (October 8, 2023), based on research of living expenses, recommended minimum wage of Tk 17,568, at the entry level, for export-oriented apparel industries. Currently, the minimum wage for garment workers, set by the wage board on December 1, 2018, stands at Tk 8,000 – a sum frequently scrutinised, particularly given the prevailing economic crisis. Read: Lack of awareness a serious risk on pollution: CPD CPD said, if the foreign buyers pay an additional 7 cents per apparel product, factory owners will not be under pressure to pay this wage. The CPD made this proposal at the minimum wage revision, monitoring, and recommendation dialogue for the garment sector. The event was held at a hotel in Dhaka’s Gulshan. CPD Research Director Khondokar Golam Moazzem unveiled the proposal. He explained that the proposed increase in minimum wage has been made through findings from a comprehensive survey on the garment sector, conducted by CPD. The research institute said that they are making the proposal after surveying 228 workers in 76 factories. The CPD research director and senior research assistant Tamim Ahmed presented the keynote paper at the event. Read: Bangladesh will need $10 billion annually to import primary fuel for power generation: CPD BGMEA President Faruque Hassan, BKMEA Executive President Mohammad Hatim, Owners’ Representative in Minimum Wage Board and former president of BGMEA Siddikur Rahman, Minimum Wage Board Workers’ Representative Sirajul Islam, among others, were present at the event. The government set a new minimum wage board on April 10, 2023, tasked with determining the new minimum wage for the RMG industry through discussions at the tripartite level. The board has already met several times, and the new minimum wage is likely to be finalised within the next month. Read: It is the ‘profession’ of TIB and CPD to find loopholes in budget, Hasan Mahmud says The issue of minimum wage is immensely important, particularly given that it has a substantial impact on the RMG industry’s overall competitiveness and the livelihood of workers. Hence, it is crucial to examine the current structure of wages and to determine a new wage in a way that allows workers to have a fair minimum wage.  

Emphasizing the issue of market distortion, Centre for Policy Dialogue (CPD) Executive Director Dr Fahmida Khatun has recommended market monitoring by the government and claimed that a significant group of people manipulates the market. She pinpointed the ongoing economic instability globally and locally, addressing the issues of outrageous price rise of commodities, banking health, fiscal policies and external factors affecting the local economy. Dr Fahmida, while speaking at a roundtable on Saturday, also discussed the dependence of Bangladesh on fuel imports and fuel price hikes affecting the production level. The Bangladesh Institute of Peace and Security Studies (BIPSS) hosted the monthly roundtable titled, ‘War, Famine and Turbulence: Global Trends 2023’ featuring three speakers - Dr Fahmida Khatun, former Ambassador Air Vice Marshal (Retired) Mahmud Hussain and security analyst Shafqat Munir. Also read: CPD's Fahmida made member of UNCTAD’s advisory board The roundtable was moderated by BIPSS President Major General (Retd) ANM Muniruzzaman. The moderator initially highlighted the post-Covid issues being faced by the current world today, such as the Ukraine-Russia conflict, possibilities of an accidental escalation, economic downturns, food security, geo-political competition, climate security, elections in South Asia, disruptive technology, metaverse and the brand new front of artificial intelligence (AI). Mahmud Hussain mentioned that the current Ukraine-Russia war would empty Europe’s energy storage if further escalation occurred. The former ambassador and expert recommended institutional developments for Bangladesh to ensure sustainable preparedness in the future. He stated that further worsening of the war would lead to a global price rise of fuel, putting a strain on Bangladesh's energy security. Security analyst Shafqat Munir tapped into the untapped aspects of global affairs like geo-political competitions and confrontations. He stated that further studies are required on geo-political competition and confrontations nearby, which may directly impact Bangladesh due to its geographical location. Furthermore, he said, the interconnection between technology and security was discussed, along with the importance and vitality of disruptive technology, 3D printing, artificial intelligence and metaverse. According to the security analyst, these technologies, if they land in the wrong hand, could create new security challenges for the country. Munir opined on the question of national security that all Bangladeshis should speak in one voice. He mentioned the possible accidental escalations in the global arena.

Centre for Policy Dialogue (CPD), a think-tank, has raised questions about the necessity of power tariff enhancement against the backdrop of the concerned ministry’s reported proposal for an allocation of Tk 56,860 crore as subsidy. “We don’t understand why the Ministry of Power, Energy and Mineral Resources wants to raise power tariff at the retail level when it seeks such a huge amount as subsidy,” said CPD research director Dr Khondaker Golam Moazzem while making a presentation on the interim report on the proposed “Integrated Power and Energy Master Plan (IEPMP) on Thursday at CPD office. Referring to the report, he said that of the total proposed amount, Tk 32,500 crore was sought for state-owned Bangladesh Power Development Board (BPDB) for power sector, Tk 19,360 crore for Bangladesh Petroleum Corporation(BPC) for petroleum import and Tk 5,000 crore for Petrobangla for LNG import. Read more: BERC now to consult with govt before any move on retail power tariff hike proposals “We don’t agree with a proposal of reducing subsidy by raising power tariff,” he said adding, Rather, the government should go for a phase out plan to retire the costly rental and quick rental power plants to reduce the cost of power generation. The CPD research director said state-owned BPC is now making huge profit instead of incurring loss in its petroleum business after enhancement in fuel prices as the global fuel price is showing a declining trend. He claimed that the BPC is now making a profit of over Tk 30 per litre in selling the diesel. Responding to a question, he said the ministry sought such a huge amount as subsidy might be due to an inflated calculation. CPD executive director Dr Fahmida Khatun also spoke on the occasion. Appreciating the government’s initiative for adopting the Integrated Power and Energy Master Plan (IEPMP) , Dr Golam Moazzem said this has some positive and negative aspects. Read more: Raising retail power tariff: 3 more distribution companies submit proposals "But despite that we appreciate the move as it has much more focus on renewable energy promotion than before,” he said. He, however, said that the government is now shifting from its original target of generating 40 percent of electricity from renewable energy by 2041. “We see a major change in the statements as they now say the target is “up to 40 percent” by inclusion of word “Clean Energy” instead of renewable energy,” he added. He also observed the government was trying to shift from the coal-fired power’s phase out plan by introducing “Carbon Capture Technology”. The developed world is now coming away from this technology because it is not environment-friendly as such technology is used to capture carbon from the coal-fired power plants. He said the cost of solar and other renewable energy (RE) options is coming down globally and generation of 16,000 MW of electricity, which is the targeted 40 percent of total planned power generation, is very much possible. Many local and foreign investors are ready to invest in the RE sector. “The RE technologies are getting cheaper day by day. The government should go for proven technology in this regard instead of unproven ones,” he said. He also observed that the government ultimately wants to promote import of  LNG (liquefied natural gas) through the proposed master plan while the RE did not get proper attention in it. “RE has not been avoided in the proposed master plan, but it was ignored,” he said.

The Centre for Policy Dialogue (CPD) at seminar on power and energy sector budget has said that the capacity payment to private sector power plants, including rental and quick rental plants, has gone up to Tk 26,505 crore in FY2022 from Tk 5,600 crore in FY2018. “This capacity payment obligation has forced the government to move for increasing power tariff”, said CPD research director Dr Khondaker Golam Moazzem, while making his keynote presentation titled: “Energy and Power Sector in the National Budget for 2022-23” at a hotel in the city on Sunday. According to the CPD, the amount of capacity payment could reach Tk 31,600 crore in FY2023. Also read: Proposed budget’s social safety allocation not enough, speakers say at CPD dialogue With CPD executive director Dr Famida Khatun in the chair, the function was also addressed by Power Cell director general Mohammad Hossain, eminent energy experts Dr M Tamim, Dr Badrul Imam, advisor of Consumers Association of Bangladesh (CAB) Dr M Shamsul Alam, president of the Bangladesh Independent Power Producers Association (BIPPA) Imran Kabir, former chairman of Bangladesh Atomic Energy Commission Shafiqul Islam, Prof Dr Kader and social worker Khushi Kabir. Moazzem said that the country’s surplus electricity which was termed as the over generation capacity of electricity has increased to 10,764 MW in 2021-2022 from 8231 MW in 2020-21 with a jump to 42.12 per cent from 37.37 per cent. The current total electricity generation is 25,556 MW. He observed that the government’s access to electricity target has been achieved, but people are not getting the full benefit because of the lack of transmission and distribution facilities. He said the budgetary allocation for the FY2022-23 also shows that the two segments of electricity are not receiving the due attention from the government as the generation segment is dominating in the allocation. Mohammad Hossain disagreed with figures about the over generation capacity and said that it is not logical to show the capacity payment separately as such cost is calculated as production cost. Dr Tamim said the country aggressively needs to pay attention to the development of the primary energy sector. Also read: Budget offers no good news for lower, middle income groups: CPD “But there is no such initiative from Petrobangla to move for local gas exploration”, he said, blaming a leadership crisis in the organisation. He said it is not clear why Petrobagla failed to prevent the fall in production at its existing gas fields while the foreign company Chevron successfully kept its production at higher level at its Bibiyana field. “This might be that the government is emphasising on meeting the gas crisis through import”, he said. He also observed that the Titas Gas’s system loss is 7 per cent which means 150 million cubic feet per day (MMCFD) of gas is being stolen everyday while the country has to import a huge amount of gas from abroad. Dr Imam said the government has no success story in the energy sector although energy is the primary supplier of fuel to the power sector. He said the gas production is decreasing day by day and it will be fully depleted in the next few years. “But no initiative is visible from the government to drill for gas exploration”, he said in the last 26 years only 26 wells were drilled while there are huge prospects for gas and oil in the country as it is the biggest delta in the world. Most of the oil and gas reserves were discovered in the deltas in the world, he added, saying the US Geological Survey study shows the country has a prospect of 42 trillion cubic feet gas reserves. He said the government has to annually spend Tk 44,000 crore to import gas from abroad to meet the local demand. Dr Shamsul Alam said the government is giving huge benefits to the private sector power producers through “predatory cost” which plays a major role in increasing power tariff. He alleged that the government is paying Tk 92 per litre of furnace oil for power generation at private plants while the state-owned Bangladesh Power Development Board (BPDB) is costing this furnace oil at Tk 72 per its own plant. He said 95 percent of furnace oil based power plants are being operated by the private sector and for this way the government is paying Tk 8,100 crore to the private power plant operators. He said the power sector has been a good ground for looting of state wealth. Without preventing this theft, the crisis in the power and energy sector will not be resolved. Imran Karim said the country’s actual power generation capacity is 16,000 MW while the daily production is 13,500 MW as many plants are not being operated due to the gas crisis. Defending the private sector’s role in power generation, he said electricity generation cost will be lesser if furnace oil is used for power generation instead of imported LNG as the price of furnace oil has decreased in recent days.

Increased collaboration between ministries and data-based monitoring of expenditures are required for a better implementation of gender budget, said discussants at a pre-budget dialogue on Monday. Ahead of the national budget, Plan International Bangladesh and Centre for Policy Dialogue (CPD) organised the dialogue titled “National Budget Addressing Gender Based Violence” at Pragati Insurance Building, Karwanbazar in Dhaka. The discussants said, women’s development is at the core of the overall development plan of Bangladesh. In the national budget, the gender budget is allocated for a number of ministries. Collective data on the specific expenditure of the ministries preventing child marriage and violence and proper monitoring will play an effective role in reducing gender-based violence through further planning. Also read: Fiscal policy support needed for economy to tackle inflation: CPD Nadia Nawrin, Programme Associate, CPD made an introductory presentation at the programme on “Budget Framework Analysis on Challenging Fear of Violence”, a recent report produced by Plan International Bangladesh and CPD. While presenting the analysis, she said that Bangladesh has made significant progress on several Sustainable Development Goals (SDGs). This progress is also evident in SDG 5 on gender equality and women's empowerment. Despite Bangladesh's remarkable economic progress, violence against women is still widespread and unstoppable, said the paper. In addition, other factors remain: lack of adequacy, monitoring and reporting mechanism and lastly, the relevant budget does not address fear of violence. The analysis recommends that in order to address and eliminate the fear of violence among girls and women, the current gender budget framework has to be redesigned. Awami League MP Aroma Dutta said, the government prioritises gender budget. There are 36 ministries under which gender budget is allocated. But, for monitoring its proper implementation, “we must ensure collective data on the expenditure. This will also support addressing the challenges of the existing laws and acts against gender-based violence.” Also read: CPD, ILO bring together stake holders to develop national industrial safety framework The MP also urged a greater campaign against gender-based violence. Girls’ Rights Director of Plan International Bangladesh, Kashfia Feroz, said, the fear of violence exists everywhere- from home to public space. In a recent survey of Plan International Bangladesh, we have found that, 35% of the survey participants believe sexual harassment is one main reason behind child marriage, while 25.6% believe parents marry their daughter off at a young age due to fear of violence. 62% parents shared that they fear to send their daughters to school picnic while 54.1% fathers fear sending their daughters to private tutors due to the same fear. Executive Director of CPD, Fahmida Khatun, said, fear is an intangible thing which makes it difficult to reflect in the budget. Fear is increasing everywhere in the world. This impacts not only the individuals but the entire society and the state affecting the economy. She also called for ensuring budget allocation to ensure strengthened implementation of existing laws and acts preventing gender-based violence. Among others, Shima Moslem, General Joint General Secretary of Bangladesh Mahila Parishad, Dr. Tania Haque. (Professor). Department of Women and Gender Studies of the University of Dhaka, Nobonita Chowdhury Director of Gender, Justice and Diversity (GJD) at BRAC, Sharmind Neelormi, Associate Professor of Economics Department of Jahangirnagar University were present as discussants.

Centre for Policy Dialogue (CPD), a private research organization, in a study revealed that prices of different types of rice are much higher in Bangladesh than in Vietnam, Thailand and other countries. Similarly, prices of flour, sugar, edible oil, onion, powdered milk, eggs and meat are much higher than the international market, the study said. “Prices of essential commodities have skyrocketed in Bangladesh. But inflation in the international market is not the only reason for price hikes,” said Dr Fahmida Khatun, Executive Director of CPD. Also read: Dishonest traders raising prices of essentials: Food Minister She came up with the remarks while addressing CPD’s media briefing titled 'Bangladesh Economy in the changed global context', held at its office in Dhanmondi, Dhaka on Sunday. Dr Fahmida presented two research papers on 'Skyrocketing prices amid stable inflation?’ and 'Changing global scenario and Bangladesh Economy: what should be the policy stance?’ on the occasion. Professor Mustafizur Rahman, distinguish fellow CPD, Dr Zahid Hossain, former lead economist, World Bank, Dr Shah Mohammad Ahsan Habib, BIBM, Professor M. Tamim, Dr Tawfiqul Islam Khan, CPD’s senior fellow, among others, spoke in the program. The speakers focused on the essential commodity prices' situation, external sector, energy and power, banking sector and budget management. Presenting a research paper, Fahmida Khatun said that the prices of essential commodities are skyrocketing. But food inflation is controlled in government accounts, which is not matching with economic theory. From October 2021 to January 2022, the government entity calculates inflation constant at 5.3 percent. At this time inflation of some particular products was between 6 percent to 30 percent during that time while the inflation of food remained constant at 5.3 percent. Dr Fahmida questioned how that is possible. Professor Mustafizur Rahman said the export volume has not grown compared with the huge import; resulting in a trade deficit of $ 10 billion. Dr Zahid Hossain said the government budget expenditure is not growing despite surplus money. He urged a policy to fix up energy prices in the country for sustainable investment. For curbing inflation CPD suggested policy attentions at the government policy makers considering its more adverse impact on the vulnerable and marginalized groups. “All available policy tools should be utilized to control food inflation, including exempting duties and taxes on essential commodities both at domestic and import levels, extending social safety net programmes and raising income tax exemption level,” the CPD said. Stability of exchange rate must be ensured as the value of taka against major currencies should be stabilised in view of its inflationary implications. An independent banking commission should be formed on an immediate basis to mitigate the disarrays within the sector and loan recovery should receive the highest attention. Despite huge imports, the export did not grow. But this is not an accurate picture compared to reality. The pressure on low-income people is mounting. Non-food inflation has also risen sharply, the CPD suggestion urged to change the situation. The need for strong market intelligence is critical as unscrupulous market players have always been active to take advantage of difficult periods, by stockpiling and creating artificial crises in the market, CPD study said. Efficient market management through close monitoring and supervision will be critical to keep the commodity prices under control during Ramadan and beyond. Also read: LGRD minister blames soaring prices of essentials on pandemic & war The volume of sale of essential commodities through the open market system (OMS) should be increased. Distribution of these commodities must be managed effectively and without any corruption, so that the eligible people have access to these items at low prices. The government should provide direct cash support to the poor, enhance social protection for low-income families, and extend stimulus to the small businesses for their survival during difficult times, said CPD.

The Centre for Policy Dialogue (CPD), a think tank, begins a four-day international virtual conference on Monday to mark the 50 years of Bangladesh's independence and 100 birth anniversary of Bangabandhu’s Sheikh Mujibur Rahman. The conference will illustrate the socio-economic changes along with the challenges of Bangladesh through 20 papers in 8 sessions. Scholars, researchers, university teachers, development workers from the UK, Norway and other European countries will join the Bangladeshi scholar conference and present papers. Also read: CPD for reinstating previous fuel prices CPD’s executive director Dr. Fahmida Khatun in press briefing disclosed the program schedule. CPD’s distinguished fellow Professor Dr. Rounaq Jahan also spoke in the virtual briefing. The South Asia Programme of Cornell University will co-sponsor the virtual conference titled "Fifty Years of Bangladesh: Retrospect and Prospect." Also read: Demographic data very important in vaccination efforts: CPD