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Published : 27 Dec 2023, 12:38 PM
As the ruling Awami League sets its sights on a fourth consecutive term, Prime Minister Sheikh Hasina has outlined the party's roadmap for continued economic growth and stability, underpinning the vision of a 'Smart Bangladesh'.
On Wednesday, Hasina unveiled the Awami League's election manifesto, bringing a series of ambitious economic and energy goals to the forefront.
The party has committed to a multi-faceted approach that targets financial integrity, poverty reduction, and a massive expansion in energy production.
CRACKDOWN ON FINANCIAL CRIMES
In a bid to stabilise Bangladesh banking sector, Hasina has vowed to take stringent measures to tackle loan default.
"Laws will be strictly enforced to recover defaulted loans," Hasina said.
Additionally, the manifesto promises to ensure that banks comply with the prescribed provisions for defaulted loans in order to establish prudent financial practices.
Hasina also underlined the Awami League's commitment to combat financial crimes, pledging to take a strict stance against money laundering.
In an effort to root out corruption, the party also vowed to eradicate bribery at all levels of state and society. This includes using the judicial system to enforce stringent punishment for illegal wealth and property accumulation, and default on debts, taxes, and bills.
The Awami League also set out a strategy to stabilise Bangladesh's economy amid global headwinds. Central to this strategy is the use of policy interest rates as a primary tool for controlling money supply and curbing inflation, according to Hasina.
In a bid to shore up the foreign exchange, a key focus of the manifesto is on balancing import and export trade to bring stability to Bangladesh's international trade relations for the benefit of both domestic businesses and the broader economy, said Hasina.
POVERTY REDUCTION TARGETS
In keeping with Bangbandhu Sheikh Mujibur Rahman's vision of a hunger and poverty-free nation, the Awami League has set ambitious goals to drastically reduce the poverty rate.
Hasina pointed out that through her Awami League government's initiatives over the last 15 years, Bangladesh has managed to shed its image as a poverty-stricken nation.
The party now aims to reduce the overall poverty rate to 11 percent and eliminate extreme poverty, with a goal of bringing the rate down to 3 percent by 2041.
YOUTH EMPLOYMENT
Underlining the party's commitment to addressing unemployment, particularly among the youth, the manifesto includes a plan to extend credit facilities for self-employment opportunities for trained young individuals.
This initiative is expected to tap into the potential of the country's youthful demographic, fostering entrepreneurship and job creation, according to the prime minister.
PLANS FOR THE ENERGY SECTOR
Despite being plagued by an energy crisis in the wake of the war in Ukraine, the last three terms of the Awami League's governance have seen notable developments in Bangladesh's power sector.
The manifesto promises uninterrupted and quality power supply, with long-term plans to increase power generation capacity to 40,000 MW by 2030, and 60,000 MW by 2041. A key aspect of this plan is the production of 10,000 megawatts of electricity from clean energy sources, Hasina said.
She added that the modernisation of the national grid has begun to facilitate the transmission of electricity generated by renewable and nuclear power plants.
In addition to these initiatives, the manifesto promises to ensure gas supply in the northern and western regions of the country, significantly increasing the availability of gas and LPG.
LEVERAGING MARINE RESOURCES
Recognising the potential of marine resources, the Awami League has established a marine research institute aimed at harnessing these assets for economic and social development, Hasina said.
Plans are in place to extract oil, gas, minerals, fisheries, and other aquatic resources. The construction of seaports and deep seaports is also highlighted as a key achievement, creating expansive opportunities for trade and commerce.
