PM says 2022-23 to be milestone year for Bangladesh’s infrastructure

Prime Minister Sheikh Hasina has said the fiscal year 2022-23 will be regarded as a milestone year for Bangladesh’s infrastructure development as some of the major megaprojects will be completed during that time.

She made the remark during an address to the nation on the eve of Pahela Baishakh marking the Bengali new year 1429.

In a 13-minute address, broadcasted by the state-run BTV and Betar as well as other private media outlets, the premier said the country's economy will witness a complete overhaul next fiscal year once the undergoing megaprojects are completed.

In her address, Sheikh Hasina highlighted how some of the megaprojects will be completed next year.

The megaprojects:

“The much-awaited Padma Bridge is going to be opened after a few months which will contribute 1.2 percent to the country's GDP,” she said.

The premiere also mentioned the metro rail, stretching 14km area from Uttara to Agargaon, will be launched by the end of this year. “It is expected that the metro rail will bring a revolutionary change to the transport system in the capital.”

She said the country's first tunnel through the Karnafuli River in Chattogram will be opened in October next.

Also, she mentioned the first unit of the 1,200-megawatt Rooppur Nuclear Power Plant, the largest development project in the country's history involving Tk 1,13,000 crore is expected to go into operation by the end of the next year.

Besides, with the 1,320-megawatt capacity a power plant at Payra was inaugurated last month ahead of the schedule she said adding the implementation of other mega projects is progressing fast.

The economy:

The GDP in 2009 was only $102 billion. In 2021, it has increased to $ 416 billion. Per capita income rose to $2,591 from $702, the prime minister said.

“Considering the overall indicators of the economy, it is clear that Bangladesh's economy has been standing on a solid foundation over the last 13 years,” she added.

In the last fiscal, a record of $24.77 billion in remittance came into the country and expected remittances are coming this year too, she informed.

She further informed that last year, the export earning was $44.22 billion. In the first nine months of this year, export earnings increased by about 33 percent, reaching $38.61 billion compared to the same period last year.

“If this trend continues, Bangladesh will set a new record in export earnings this year,” she hoped.

These achievements, Hasina said, have been made possible due to the far-reaching political thinking and the adoption as well as the implementation of the far-sighted economic programmes. “Today, Bangladesh has emerged as a 'role model' of development as the country is being run with people's participation upholding the democratic trend.”

The Prime Minister said the main target of her government is to bring dynamism in the economic activities, generate employment, scale up assets and ease the livelihoods of the people through infrastructure development.

Agriculture is the key force of our economy, she continued. “We are now completely self-reliant in the production of rice, vegetables, fish, meat, eggs and milk due to the agri-friendly policy of our government.”

“It is expected to get a bumper yield of boro paddy in the current season if there will be no natural calamities.”

The challenges:

The PM warned that many are spreading confusion over our different mega projects.

The Padma Bridge is being constructed with the government's own funds — no loans have been taken, she said.

“We have adopted other mega projects consulting with local and foreign economic experts. And not just loans, many projects are being implemented based on foreign partnerships. If these projects are implemented, the country's economy will be changed. We are taking domestic and foreign loans,” she assured.

However, she said that the countrymen must keep strict vigilance so that the debt will not become a burden for the country. “Our prime aim is to accelerate economic activities, create employment opportunities, increase wealth and make people's lives easier with infrastructural development.”