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Muhith scuttles BNP stand on credit deal with India

Update: 2010-08-07 22:35:09
Muhith scuttles BNP stand on credit deal with India

SAVAR: Finance Minister AMA Muhith Sunday said the main opposition BNP was opposing credit agreement with India for nothing but to stop foreign direct investment (FDI) in the country.

While in power, Muhith said, the four-party alliance government had shut ways of investment. “That’s why they do not want foreign investment in the country.”

The finance minister was talking to during his visit to the Public Administration Training Center (PATC) at Savar where he attended the 56th meeting of its Board of Governors.

There are two things in the credit deal signed with India---communications and electricity--- which were destroyed by the then ruling party, he opined.

Over the threat BNP had issued prior to the signing of the US$1 billion credit agreement with India, Muhith said the party opposed it just for opposition’s sake. “Actually they will not be able to do anything about it as they don’t have any logical ground.”
He, however, termed “astonishing” the comments of BNP leader MK Anwar, a seasoned former bureaucrat.  

Muhith said Anwar was once secretary of the Economic Relations Division (ERD) and he knows how the procedure goes for a deal.

“He knows everything how the International Development Agency (IDA), the Asian Development Bank (ADB) and other donor agencies offer loans and on what conditions the credits come from foreign countries. He should not say so.”

As BNP demanded making the ‘unclear deal’ public, the custodian of exchequer said it was available online and very much in public domain. “They are trying to fish in the troubled waters,” he said.

He referred to a similar deal signed with India in 1991 while BNP was in state power. “BNP had taken the loan at 5 percent interest and Khaleda Zia was the then Prime Minister.”    

BDST 1750 HRS, AUGUST 8, 2010

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