Prime Minister Sheikh Hasina on Wednesday directed ministries and divisions to be watchful on the current conflict in the Middle East.
The PM gave the directive while presiding over the weekly cabinet meeting at her Tejgaon office.
Briefing outcomes of the meeting, cabinet secretary Md Mahbub Hossain told reporters at the Secretariat that the PM wants ministries and divisions assess impact of the ongoing conflict.
The cabinet secretary said that they have also been asked to assess the impact based on a lingering situation of conflict in that region.聽 聽
The Middle East conflict has escalated following Iran鈥檚 attack on Israel early Sunday leading to fears that another series of destructive shockwaves will reverberate through the global markets.
The initial worry about the economic consequences is likely to be focused on the energy markets, as the region heavily influences global oil and gas production.
The cabinet secretary said that fuel oil prices may increase.
Bangladesh, which imports fuel oils from the Middle East, is yet to overcome the global oil price shock triggered by the Russia-Ukraine war broke out in 2022.
The high price of fuel oils fattened import bills reducing the country鈥檚 forex reserves.
The government is borrowing $4.7 billion from the International Monetary Fund to tackle the situation.
The PM also directed ministries and divisions to implement previous decisions taken by the cabinet quickly, said the cabinet secretary.
In case of failure, the ministries and divisions have been asked to mention causes, he added.
Noting that 16 laws are yet to be delisted in the country, the cabinet secretary said that the PM directed ministries concerned to take steps to delist the laws soon.
He also said that the cabinet gave final approval to the drafts of 鈥楾he Moheshkhali Integrated Development Authority (MIDA) Bill, 2024鈥� and 鈥楾he Chief Election Commissioner and other Election Commissioners (Remuneration and Privileges) Bill, 2024鈥�.
He said that the prime minister would be the governing board chairman of the authority.
The governing board will consist of 17 members.
Apart from the governing board, the government will appoint a principal executive officer to run the office.
The main objective of The Moheshkhali Integrated Development Authority will be preparing a master plan for an area of around 55,968 acres of land, the cabinet secretary said.
The authority will promote foreign investments and turn the area into a development hub, he added.
The cabinet secretary said that 鈥楾he Chief Election Commissioner and other Election Commissioners (Remuneration and Privileges) Act, 2024鈥�, is the Bangla version of the existing English one.
No changes have been made in the Bangla version of the act, he said.
