Prime Minister Sheikh Hasina  on Tuesday directed all concerned to pay attention to the ways to rein in inflation as the common people are suffering for it.

“Right now the prime responsibility for all of us is to fight inflation,” she was quoted by Planning Minister MA Mannan as saying at a meeting of the Executive Committee of National Economic Council (Ecnec).

The minister briefed reporters after the Ecnec meeting presided over by the prime minister, who is also the Ecnec chairperson,  at the NEC conference room in the city’s Sher-e Banglanagar area.

Also read: Ecnec clears Tk 6,345 cr project to improve urban governance, infrastructure in 88 municipalities

She asked the authorities concerned to put emphasis on availing larger funding from the foreign sources in case of implementation of projects to reduce pressure on local currency and increase the reserve of foreign currencies.

Noting that foreign debt pipeline is getting large as Bangladesh uses less foreign loans, she asked the authorities concerned to use foreign loans in a bigger way.

Hasina said if the trend of timely-implementation of foreign-aided projects increases, then disbursement of foreign loans would increase.

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She asked the authorities, including the Economic Relations Division (ERD), National Board of Revenue (NBR) and the Finance Division to ensure that the government uses more foreign funding and foreign loans to finance development projects which will also enhance the foreign currency reserve.

The PM called for ensuring cent percent irrigation through solar-powered pumps gradually.

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Referring to the project titled ‘Physical Infrastructure Development Project of BCS (Tax) Academy (Phase-I)’ involving the cost of Tk 116.32 crore, she directed the authorities to use less land during the implementation of such projects.

Ecnec on Tuesday cleared a total of 16 projects, including a Tk 6,345 crore one to improve urban governance and infrastructure in 88 municipalities under 48 districts.

Also read: Contractionary monetary policy announced to curb inflation