Inflation hit Bangladesh, hike in fuel prices, angry people, Hasina government under pressure

in Bangladesh , The rise in fuel prices has led to a rise in the prices of food and other essential commodities, creating resentment and dismay among the people and putting a huge strain on the country’s economy. Due to bitter criticism and opposition from the opposition on the government of Prime Minister Sheikh Hasina […]
 


Inflation hit Bangladesh, hike in fuel prices, angry people, Hasina government under pressure

in Bangladesh , The rise in fuel prices has led to a rise in the prices of food and other essential commodities, creating resentment and dismay among the people and putting a huge strain on the country’s economy. Due to bitter criticism and opposition from the opposition on the government of Prime Minister Sheikh Hasina in recent days The pressure has increased. In view of the demonstrations, Hasina has sought help from the International Monetary Fund (IMF) to ensure the economic security of the country.

However, experts say that the situation in Bangladesh is not as serious as it is in Sri Lanka. Significantly, the economy of Sri Lanka is going through a serious crisis. The President had to flee the country due to widespread protests. At the same time people are facing acute shortage of food, fuel and medicine and are forced to stand in long queues for essential commodities. Bangladesh is also facing similar problems such as high spending on ambitious development projects, corruption, public anger towards nepotism and deteriorating trade balance. This is affecting the development of Bangladesh.

people started protesting

The government last month raised fuel prices by over 50 per cent to meet rising costs due to high oil prices. This rising cost of other necessities caused public opposition. After this, the officials ordered the government dealers to sell rice and other essential commodities at low prices. The country’s Commerce Minister Tipu Munshi said that about five crore people will be helped in the latest phase of the program which started from September 1. He said that the government has taken several measures to reduce the pressure on the low income earners.

Prices rise due to Ukraine war

It is known that the price of many things has increased due to the war in Ukraine. While prices were already rising due to the impact of the Covid-19 pandemic and improving demand. Meanwhile, currencies of several countries such as Bangladesh, Sri Lanka and Laos have weakened against the dollar. This has increased the import cost of oil and other commodities.

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