VOL NO REGD NO DA 1589

Sunday, August 20, 2006

HEADLINE

POLITICS & POLICIES

METRO/COUNTRY

EDITORIAL

MISCELLANY

LETTER TO EDITOR

COMPANIES & FINANCE

National Day of Malaysia

BUSINESS/FINANCE

LEISURE & ENTERTAINMENT

MARKET & COMMODITIES

SPORTS

WORLD

 

FE Specials

URBAN PROPERTY

FE Education

FE Information Technology

Special on Logistics

NATIONAL DAY OF EGYPT

Saturday Feature

Asia/South Asia

 

Feature

13th SAARC SUMMIT DHAKA-2005

SWISS NATIONAL DAY 2006

57th Republic Day of India

US TRADE SHOW

 

 

 

Archive

Site Search

 

HOME

LETTER TO EDITOR
 
Oil price and austerity measures
9/12/2005
 

          After raising the fuel prices the government declared two days of weekly holiday on Fridays and Saturday so that the use of government and private vehicles are reduced. Water, electricity and other expenditures are trimmed.
Finance Minister M Saifur Rahman said the government was planning more austerity steps. These included reduced use of transports by government officials, lesser frequency of foreign trips etc.
These all sound fine. But this also reflects that Bangladesh today is in a deep crisis. It is clear that the oil-dependent economy is bracing itself for the worst due to the skyrocketing oil prices in the international market.
People are in deep agony because of the hike of the prices of diesel and kerosene. The price hike of diesel and kerosene will raise the cost of both irrigation and transport, leading to hike in prices of agricultural products and increase in transportation fares. We understand that diesel and kerosene account for over 90 percent of petroleum products consumed in the country and it is easy for the government to generate huge revenue by slightly hiking their price. But the government should remain also careful about the fate of the common people.
The austerity measures being planned by the government are laudable. Even if there is no crisis, the government transport costs should be lowered significantly.
The foreign trips must be reduced as it is planned. For a resource-starved country, it often becomes a matter of shame when a big delegation accompanies the Prime Minister during her visit abroad.
Austerity should not be only for the government officials. Ministers' visits outside the country also needed to be reviewed. The ministers, state ministers and deputy ministers in most cases use vehicles beyond their allotted number and time.
Even members of their families liberally use the government vehicles. This should be stopped at once in order to curb the misuse of fuel.

Mahbub Alam
Motijheel
Dhaka

 

 
  More Headline
RMG exporters likely to raise product-price to compensate for hike in workers' wages
Rift between state minister, secretary surfaces over rental power plants
Govt may select CIPs this year
Stock market witnesses steady trend last week
Phulbari coalmine to boost GDP by 0.7-1.0pc a year, says ADB
30 hurt in garment factory clash at Dakkhin Khan
Malaysia sets ambitious growth target
Agitation programmes hamper downtown business activities
22 missions fail to achieve export targets
Power production can be raised by 331mw within two months : CBA
Bangla-Pak business council to discuss FTA issues
'25pc ultra poor still deprived of micro-credit programme'
Govt will provide Tk 2.0b to BKB
BSF kills cattle trader on Satkhira border
AL calls for immediate dialogue on caretaker govt, EC reforms
EC urges people to catch up with deadline
SE Asia health ministers meet in city today
Kansat leader to contest general election
Maoists to get party status only if they lay down arms: PM
Heavy Israeli overflights reported in Lebanon's Bekaa Valley
7-day programme for mourning Shamsur Rahmanís death
University student, dock worker killed in Ctg
 

Print this page | Mail this page | Save this page | Make this page my home page

About us  |  Contact us  |  Editor's panel  |  Career opportunity | Web Mail

 

 

 

 

Copy right @ financialexpress.com