Rashed Al Mahmud Titumir, the Prime Minister’s Advisor on Finance and Planning, has stated that the government’s ‘Family Card’ program will reduce the poverty rate by 5 percent.
He made these remarks on Monday (October 19) at the inauguration of the ‘ESG Platform’ of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) in Uttara, Dhaka.
The Planning Advisor noted, Due to a lack of effective measures by the previous administration, nearly 8 million people fell below the poverty line. In contrast, the current government’s Family Card program is set to reduce the poverty rate by 5 percent.
Rashed Al Mahmud Titumir observed, Leading up to the July movement, it became evident that a large segment of educated youth lacked employment opportunities.
Approximately 40 percent of the population remained outside the scope of employment, education, or training. This is why, since 2008–09, the youth and women have played a significant role in various movements.
Highlighting that the government has had to incur an additional $4.12 billion in expenditure over the past eight months, the Planning Advisor explained, In addition to the economic challenges inherited from the past, the crisis in the Middle East has further complicated Bangladesh’s energy situation.
Consequently, the government has had to spend an extra $4.12 billion over the last eight months.
He added, In the coming days, interest rates on loans will be reduced to encourage domestic investment and foster job creation.
Discussions are also underway regarding securing additional time for Bangladesh’s transition out of the Least Developed Country (LDC) category. It is expected that the necessary time will be granted to strengthen post-transition preparations, with international organizations providing support in this regard.