Take effective measures to get maximum benefit after LDC graduation: PM

Prime Minister Sheikh Hasina has directed the relevant ministries and departments to take effective measures to avail of maximum benefits after the country's graduation from Least Developed Country (LDC) status in 2026 and also to devise strategies to face the challenges following the graduation.

She issued the directives during the Executive Committee of the National Economic Council (Ecnec) meeting held yesterday at the NEC Conference Room in Sher-e-Bangla Nagar, Dhaka. The prime minister, as chairperson of Ecnec, chaired the meeting.

Satyajit Karmaker, secretary of the Planning Division, briefed the press on the prime minister's instructions at a press conference following the meeting, where 10 projects were approved at an implementation cost of Tk8,425.59 crore.

At the press conference, Abdul Baki, member of the Planning Commission, said many ministries and government departments are actively working on addressing challenges, including the anticipated $11 billion decline in Bangladesh's exports following its graduation from LDC status.

The Economic Relations Division (ERD) of the Ministry of Finance serves as the focal ministry for LDC graduation. The General Economics Department (GED) of the Planning Commission prepared an LDC Graduation Assessment Report in 2018 at the ERD's request, he said.

Abdul Baki also said that the Ministry of Commerce is actively pursuing tariff and quota-free facilities at the World Trade Organisation. Additionally, a task force, led by the chief secretary of the Prime Minister's Office, has been formed.

Inter-ministerial committees have been set up to address the challenges presented by LDC graduation. The committees are currently preparing reports, which will be published soon, he added.

Planning Minister Major General Abdus Salam and State Minister for Planning Shahiduzzaman Sarker were present at the press conference.

10 projects approved

Ten projects were approved at yesterday's Ecnec meeting at an implementation cost of Tk8,425.59 crore. Additionally, a proposal to extend the duration of one project was also endorsed.

The secretary of the Planning Division said that some projects could be concluded with a minimal allocation of funds. The prime minister has issued instructions on ensuring sufficient funding for these projects to expedite their completion.

At the meeting, the Union Parishad Complex Building (Phase 3) project, with a budget of Tk3,059 crore, was approved. The prime minister has instructed that council buildings in all unions across the country be completed.

The Ecnec meeting also gave the green light to the Chancery House construction project in Egypt. The prime minister emphasised the importance of including booths and waiting areas at the Chancery House to serve expatriates.

Sheikh Hasina also directed the establishment of a special training system for women in the new complex of the Bangladesh Handloom Board. Additionally, she issued instructions for the construction of roads and bridges in all upazilas of Kurigram, taking into account river erosion and floods.

Other projects approved at the Ecnec meeting include procurement of 20 metre gauge diesel-electric locomotives and 150 metre gauge passenger carriages for the Bangladesh Railways (1st Revised) project; widening of Kashinathpur-Dashuria-Natore-Rajshahi-Nawabganj-Kansat-Sonamsjid-Baliadighi road (Nawabganj part) project; infrastructure development of the Ministry of Fisheries and Livestock project (Phase 1); improvement of fish landing centres of the Bangladesh Fisheries Development Corporation in Cox's Bazar project; rural infrastructure development project of Greater Rangpur; and establishment of comprehensive cancer, heart disease, and kidney treatment centres in eight divisional cities project (1st revised).

Additionally, 30 projects, each costing less than Tk50 crore, were presented at the Ecnec meeting and subsequently approved by the Planning Minister.