Dhaka: Due to the increase in fuel prices in Bangladesh, the prices of food and other essential commodities have increased due to which the public is in anger and despair and the country’s economy has come under severe pressure. At the same time, due to the bitter criticism of the opposition and the protests, the pressure on the government of Prime Minister Sheikh Hasina 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 that of Sri Lanka.

Significantly, the economy in Sri Lanka is going through a serious crisis, due to widespread protests, the President has to leave the country. At the same time, people are facing acute shortage of food, fuel and medicines and are forced to stand in long queues for essential commodities. Bangladesh too is facing similar problems such as excessive spending on ambitious development projects, corruption, public anger over dynasticism and deteriorating trade balance. This is affecting the growth of Bangladesh.

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The government last month increased fuel prices by more than 50 per cent to tackle rising costs due to high oil prices. Due to this increasing cost of other necessities, the public started protesting. After this, the officials ordered the sale of rice and other essential commodities by the government dealers at low prices.

The country’s Commerce Minister Tipu Munshi said that in the latest phase of the program which started from September 1, about five crore people would be helped. He said that the government has taken several measures to reduce the pressure on the low-income people. It is noteworthy that due to the war in Ukraine, the prices of many commodities have increased, while the prices were already increasing due to the easing of the impact of the Kovid-19 epidemic and improving demand. Meanwhile, the currencies of several countries such as Bangladesh, Sri Lanka and Laos have weakened against the dollar, raising the cost of importing oil and other commodities.

Tags: Bangladesh, fuel price hike

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