Economy could take two years to revive: Info Minister

Information and Broadcasting Minister Zahir Uddin Swapon on Wednesday said it may take at least two more years to revive the fragile economy inherited from the fallen Awami League government.

“Social and political stability at the national level is crucial for the development and prosperity of the country during this critical time,” he added.

The minister made the remarks while speaking as the chief guest at the award distribution ceremony for the month-long Islamic competition “Alokito Mahe Ramadan” at Uttara Community Centre in the capital.

Dhaka-18 lawmaker SM Jahangir Hossain organised the programme.

Swapon said, “We have inherited the burden of Tk30 lakh crore debt that was looted by the previous (Awami League) government. We have to repay $5 billion in foreign debt every year. The country has to spend much more on imports than it gets from export earnings and remittances.”

Noting that turning around from this huge deficit and reviving the ruined economy is a tough challenge, he said, “Money will not come from the sky. We have to restore this economy through hard work and a stable environment."

The information minister said those who seized state power without voters’ support wanted to benefit by creating divisions and exploiting religious differences among the people.

Regarding the first parliament session, he said, "We are having constructive debates with the opposition in parliament, and this will continue.”

In this context, he urged all to remain vigilant so that none can use the debate in the parliament as an excuse to create chaos on the streets.

In the past, he said, such an environment was created that even showing the identity of a madrasa student or wearing religious clothes could meet suspicions.

The incumbent government has eliminated that culture of fear and ensured a balanced social environment, he added.

Addressing Islamic scholars, the minister said, "You can be an important ally in maintaining social stability. If we cannot maintain a peaceful environment for the next two years, this economic recovery will be hampered."

Noting that attacks on religious institutions were planned and staged in the past to destroy the religious harmony of the country, he said, “We who believe in the holy religion also respect the beliefs of followers of any other religion. People of all religions have been living in peace in this country for thousand years.”

Khatib of Baitul Mukarram National Mosque Allama Mufti Abdul Malek and Khatib Hafez Maulana Nazmul Hasan Qasemi of Baitun Noor Jame Mosque in Uttara Sector-12 were present as special guests at the event.