DHAKA: Due to ongoing political unrest, the country incurred a loss of Tk 4,900-crore, which is 0.55 percent of Gross Domestic Product (GDP).

Center for Policy Dialogue (CPD) revealed the information in a press conference at Brac Centre in city’s Mohakhali area Sunday noon.

The brief titled ‘Budget Proposal 2015-16’ informed the media that a total of 11 sectors have faced the loss during 81 days of blockade and 67 days of hartal.

According to CPD, it is the minimum loss but the amount will increase after counting the loss of all other sectors.

However, it is said, of the 11 sectors, agriculture faced a loss of Tk 398-crore, poultry Tk 606-crore, shrimp Tk 741-crore, garment sector Tk-1,318 crore, plastic sector Tk 244-crore, transport sector Tk 829-crore and tourism Tk 825-crore, banking and insurance sector Tk 156-crore, wholesale and retail trade Tk 448-crore.

The loss of the real estate and education sectors are not possible to calculate, it added.

In that situation, the government has to reform its policy in various sections of economy in preparing the next budget.

It further said that though BNP’s hartal-blockade-violence has caused this loss, six economic indicators are in good condition.

Regarding the matter, CPD Research Fellow Dr Debapriya Bhattacharya, said inflation rate is now downward, commercial banks lowered interest rates, exchange rate stable, foreign income and expenditure balance surplus, the budget deficit under control, and less pressure on subsidy.

Despite these encouraging indicators, the desired economic growth will not be achieved if the administrative reform is not made in the economic sector.

In reply to a query, the Research Fellow told the media that political violence caused a loss of Tk 4,900-crore in the production.

“If we can achieve estimated 6.30 percent growth, then GDP will face a .55 percent loss,” he added.

He said that due to the reduction of its capacity coupled with political uncertainty, government called the International Monetary Fund (IMF) and the World Bank (WB). They placed some conditions. Internally, the government itself will meet these conditions.

Remittance flow is positive amid ongoing political violence in the country. Saudi labor market has been open after a long time. But, due to the reduction of oil price, the mid-eastern countries might face the negative impact on their economy, said Dr Debapriya.

He also expressed concern that this might affect Bangladesh remittance inflow.

CPD Executive Director Dr Saiful Rahman and research director Dr Khandaker Golam Moazzem, among others, were present at the brief where Toufiqul Islam Khan presented the keynote paper.

BDST: 1733 HRS, APR 05, 2015
RS/RR/SMS