Economic discipline 'has been restored'

Prime Minister Khaleda Zia yesterday said her one-year-old government had been successful in restoring restore economic discipline, placing the economy on the development track, and curbing the corruption and wastage bred by the misrule of the Awami League government.

"We have changed the economic scenario within one year from a disastrous economic situation left by the previous government. The ongoing economic acceleration will continue for the welfare and progress of the country," she told parliament.

Khaleda expressed optimism that they would return to power in the next polls.

Replying to a question during the 30-minute question-answer session, she said the people rejected the Awami League at the last general election due to the dismal and disastrous state of the economy.

Replying to another question, Khaleda said her government remained conscious about reducing dependence on foreign aid in phases and a specific plan will be formulated to make the country self-reliant.

She informed the House that a number of suicidal steps taken by the last government had had an adverse impact on the foreign reserve, but her government had improved the situation in one year.

Khaleda said the last government took loans at high interest and under tough conditions for many development projects as well as collected large amounts of credit through suppliers' credit and single sources with 10-15 per cent down payment without opening tenders.

"This type of borrowing through a non-transparent process was contrary to the interests of the country," she noted, adding that such steps seriously affected the foreign exchange reserve.

After assumption of power by the BNP-led four-party alliance, she said, the forex reserve increased to $1607.96 million from $1149.27 million.

She added that the government will take all necessary steps, consulting all stakeholders, to restore discipline in the economy as well as create job opportunities.