Bangladesh may face Sri Lanka-like situation: GM Quader

Bangladesh may face a Sri Lank-like situation as it is now bearing a huge debt burden for undertaking several mega projects.

GM Quader, chairperson of Jatiya Party, the main opposition in the parliament, came up with the remarks while addressing an iftar party organised by the party’s student body Jatiya Chhatra Samaj in Dhaka on Saturday.

Sri Lanka has become bankrupt after receiving excess foreign credit. Bangladesh has the same fear as it bearing a huge debt burden, the JP leader said.

In anyhow, the government should tackle the situation by reducing prices of essential commodities and providing those among the farmers, garment workers and others, he said.

The government should take an immediate step so that the country does not face the Sri Lanka-like situation suddenly, he said.

The countrymen are now passing through a critical time as the prices of all essentials are increasing rapidly while their income is matching with the same pace, he said.

“Everything went out of the purchasing capacity of the commoners,” the opposition leader in the parliament said.

Earlier in the day, Awami League General Secretary Obaidul Quader said the economic condition of Bangladesh will never be like that of Sri Lanka.

“Bangladesh is moving forward in all indicators due to the country’s massive development spree. The comparison of the economy of Sri Lanka with the economy of Bangladesh is purpose-oriented. It’s part of a conspiracy. Those who are saying that Bangladesh will be like Sri Lanka are either deliberately spreading propaganda or they don’t know about it,” he said.

The ruling and opposition parties are coming with such remarks at that time when Sri Lanka’s problems come down to the fact its foreign currency reserves have virtually run dry.

It means it cannot afford to pay for imports of staple food and fuel, leading to acute shortages of commodities and their very high prices.