BNP calls 7.05pc growth projection a stunt

Terming baseless and unrealistic Bangladesh Bureau of Statistics's (BBS) projection of achieving a growth of 7.05 percent for the first time, BNP yesterday said it was the government's "statistical stunt" in its bid to hang on to power.

"We think the government is making people puzzled with false statistics. We ask people not to get confused with such amiable statistics as you know it very well how you are," BNP secretary general Mirza Fakhrul Islam Alamgir told a press conference at party chief Khaleda Zia's Gulshan office.

"This claim is not substantiated. It's unrealistic and unfounded," he said, adding that the economic indicators suggested that it was not possible to reach the 7.05 percent GDP growth rate in the fiscal ending this June.

On April 5, Planning Minister AHM Mustafa Kamal said Bangladesh was set to break out of its 6 percent growth "trap" this fiscal year as per a provisional estimate.

"This is a matter of pride for the whole nation as we're going to achieve a 7.05 percent GDP growth rate for the first time," he told reporters after a meeting of the National Economic Council (NEC), chaired by Prime Minister Sheikh Hasina.

In addition, he said, the per capita income would rise to $1,466 from $1,316 in the current year.

Refuting the claim that the country would grow at 7 percent for the first time, Fakhrul said the growth rate hit 7.06 percent during the BNP-led government in the 2005-2006 fiscal year.

He said BBS hurriedly made its estimate at the behest of the government. "The country's indicators of macro economy are not that much encouraging."

"It is not possible that the GDP would grow at 7.05 percent, given the present sorry state of the economy and investment. If the country's investment increases, import of machineries and raw materials will also increase for setting up industrial units. The demand for personal loan will also increase. But the import of raw materials and machineries has decreased."