ERD informs cabinet of preparedness for post LDC status | 2018-01-22 |

ERD informs cabinet of preparedness for post LDC status

BSS     22nd January, 2018 07:01:41 printer

ERD informs cabinet of preparedness for post LDC status

Three prime economic indicators suggested Bangladesh's preparedness for graduation as a "developing country", discarding its status of a "least developed" one or LDC by 2025, the ERD said in a presentation to the weekly cabinet meeting.


Prime Minister Sheikh Hasina chaired the meeting when the Economic Relations Division placed the report referred to the indicators -- the per capita Gross Net Income (GNI), Human Assets Index and Economy Vulnerability Index (EVI) -- and said the country was ready for its elevated status by March 2025. "The standard GNI of a country should be US$ 1230 for graduating from the LDC group which, in case of Bangladesh, is now US$ 1272 according to CPD and US$ 1271 according to the BBS," the report read.


It said the standard of human assets index of a country needs to be 66 or above for elevation from LDC status which is 72.8 according to CPD and 72.9 according to the BBS for Bangladesh.


In case of EVI the standard index is 32 or less which is 25 in Bangladesh according to the CPD and 24.8 according to the BBS, meaning Bangladesh is much ahead of the standard index in all aspects.


Cabinet Division's secretary for coordination and Reforms NM Ziaul Alam briefed reporters at Bangladesh Secretariat after the meeting saying the analysis came as the ERD informed the cabinet about the country's preparedness for the ascension.


Earlier, the Cabinet Division presented a comparative report on the progress of execution of cabinet the decisions during October-December 2017 quarter and October-December 2016 quarter.


According to that report, 53 out of 68 decisions, taken by the cabinet in eight meetings during October-December 2017 quarter, were executed by now while the process was underway to implement the rests. It said during the period, the cabinet adopted one policy and drafts of eight agreements and memorandums of understanding (MoU) with foreign countries while the parliament passed three laws.


During the previous October-December 2016 quarter, the cabinet had held 10 meetings and took 116 decisions, out of which 80 were implemented while the rests were being executed.


During the period the cabinet had framed five policies/strategies and signed eight agreements/MoUs with foreign countries while the the parliament passed 11 laws.


At the meeting onset, the premier inaugurated a memorial postage stamp of Taka 10 denomination along with a cover of Taka 10 and a data card of Taka 5 and a special seal marking the International Customs Day 2018 tomorrow.