SME Times is powered by   
Search News
Just in:   • Equity indices break two-day losing streak on value buying  • IMF urges Sri Lanka to tighten monetary policy  • Global semiconductor sales to reach $676 bn this year: Gartner  • Tinna Rubber hits upper circuit, investors accumulate 900% returns in year  • Availability of jobs in Japan improves for 1st time in 3 yrs 
Last updated: 13 May, 2022  

Flight.9.thmb.jpg B'desh restricts foreign travel for govt officials

   Top Stories
» Net direct tax collection reaches highest-ever figure in FY 22
» Musk has to manufacture here to sell Tesla cars in India: Gadkari
» Round tripping of industrial inputs by large players unfavourable to local value chains
» Sitharaman engages investors in Silicon Valley
» Modi hails India's success in achieving target of $400 billion of exports
IANS | 13 May, 2022
Bangladesh has restricted foreign trips of government officials under operating and development budgets in the context of post-Covid-19 economic recovery and an ongoing global crisis.

The country's Ministry of Finance Thursday issued a notification saying that all types of foreign trips, including exposure visits, study tours, workshops and seminars for all government officials will remain stopped until further notice in a bid to reduce the pressure on the country's forex reserve, reports Xinhua news agency.

It said the order will be effective immediately and will be applicable for both development and operational budget.

The move came a day after the central bank of Bangladesh toughened its rules for luxury and non-essential imports like sports utility vehicles, washing machines, air conditioners and refrigerators.

The twin moves are also expected to reportedly safeguard the Bangladesh foreign currency reserves, which recently have come down to less than $42 billion, still enough to cover the country's five-month import bills.

For a growing economy like Bangladesh, forex reserves equivalent to six months' import bills are considered adequate.

Bangladesh's foreign exchange reserves crossed the $48 billion mark in August last year, the highest ever in the history of the country, due to a slowdown in imports and rising remittance and export earnings during the pandemic.
Print the Page
Add to Favorite
Share this on :

Please comment on this story:
Subject :
(Maximum 1500 characters)  Characters left 1500
Your name:

  Customs Exchange Rates
Currency Import Export
US Dollar
UK Pound
Japanese Yen 58.85 56.85
As on 27 Apr, 2022
  Daily Poll
COVID-19 has directly affected your business
 Can't say
  Commented Stories
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter