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Political division is a major hindrance to rapid economic development. However, if there is political consensus on the issues dominating socio-economic development, then achievements of the country in different fields will be much better.
Finance and Planning Minister M Saifur Rahman said this to newsmen Thursday at the Zia International Airport on his return from Asia 2015 Conference held in London, report agencies.
He was replying to a question on the challenges of the country's economic development as the two-day conference in London focused on Bangladesh perspective.
The finance minister said the development partners at the conference praised Bangladesh's efforts to capture the terrorists, saying: "You (Bangladesh) have done a very good job."
At the same time, they stressed the need for addressing the issues of street showdown by political parties and holding a free and fair election, he said.
Saifur mentioned that the Prime Minister has already made a proposal for the formation of a national committee to discuss electoral reforms.
Asked about other challenges like soaring foreign exchange rates and power crisis, he said the foreign exchange volatility is prevailing all over the world.
On the power situation, he said the Asian Development Bank (ADB) is going to invest around one billion dollars in the next three years in the country's power sector. "We'll also be investing heavily in the power sector."
Replying to a question on terror financing sources, he reiterated that the anti-money laundering law would be tightened with few amendments. "It will be done very soon," he added.
Asked whether the development partners would increase their assistance, the finance minister said the UK would increase their grant assistance by 25 per cent by the year 2008.
During the visit, Saifur had a meeting with British Secretary of State for International Development Hilary Benn who underlined that Bangladesh was an extremely important country as far as the UK is concerned.
He further stated that political stability and successful completion of the upcoming elections would ensure Bangladesh's continued growth and socio-economic progress.
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