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Bangladesh's new PM pledges to bring down prices of essentials

Business Materials 6 January 2009 21:30 (UTC +04:00)

Bangladesh's new Prime Minister Sheikh Hasina, after being sworn in Tuesday evening, said maintaining law and order and stabilizing high prices of essentials would be priority tasks of the government.

"The people have given me the responsibility of Prime Minister. Now my duty is to improve the lifestyle of the people. Law and order, and controlling price hike of essentials will be my priority tasks," she told reporters here Tuesday evening after the oath ceremony.

The inflation rate in Bangladesh ,which hit 17-year high at 11. 21 percent in November, 2007, remained beyond the purchasing power of common people.

World Bank said some 4 million people in the country fell below the poverty line (about 1 U.S. dollar per capital per day) again following the food price hike.

Hasina, the two-time prime minister, further said agriculture would be another most important sector to be dealt with.

"We will ensure availability of fertilizers, quality seeds and all other agricultural inputs. The farmers will get fair price of their product," said Hasina.

Hasina along with other 31 members of her new cabinet were sworn in in the President House Tuesday evening after her party Awami League won a landslide victory in the country's 9th parliamentary elections held on Dec. 19, 2008.

Awami League made pledges in the election manifesto to avoid economy depression, ensure food and energy security, bring down food prices and poverty and curb corruption.

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