International
PIL against Bangladesh signing deal with IMF

Dhaka, Sept. 17 (PTI): A Bangladeshi lawyer has filed a PIL with the High Court here seeking to restrain the interim government from signing a loan agreement with International Monitory Fund (IMF), reports said here today.

The constitution does not authorise caretaker government to decide on policy matters, argued Supreme Court lawyer M Mesbahul Islam in his petition while seeking a directive against the government signing a Policy Support Instrument agreement with the world body.

It can only discharge regular day-to-day affairs and offer the Election Commission with necessary supports for staging a credible election, the petitioner said opposing the deal that engages a private company to operate the New Mooring Container Terminal in south-eastern Chittagong Port.

"In flagrant violation of the constitution, the government has partially acted upon the prescription[s] of the IMF and the World Bank that has caused price hike of essential commodities and given rise to inflation, causing 'colossal and irreparable damage' to the national economy," the petition alleged.

Signing of the proposed PSI agreement with the IMF would adversely affect the country's economy and allow the global lending agency to interfere in matters related to country's sovereignty, it said.

The petition was expected to come up for hearing before a High Court bench of judges Nazmun Ara Sultana and Justice Abu Tarique later today, lawyers said.

The petition came amid a growing campaign against World Bank and IMF by major business chambers and economists in recent weeks attributing the rising inflation rate and price hike of essentials on "wrong prescriptions" of the donors.

Finance Adviser Mirza AB Azizul Islam earlier said the interim government did not succumb to pressures of the donor agencies and would not accept their suggestions on policy matters affecting the country's interest.

Meanwhile, a group of left-leaning politicians and civic leaders yesterday urged the government not to sign the proposed loan agreement with IMF and demanded the terms of earlier agreements with international lenders and contracts with multinational companies be made public.

"The government cannot ignore the concern expressed by the businessmen about the evil designs and activities of the IMF and the World Bank, which are out to cripple the national economy," they said in statement following a meeting chaired by left leaning theorist and political analyst Badruddin Omar.

They cautioned the government about raising utility tariffs, saying that by prescribing such a policy the IMF and World Bank wanted to increase the cost of production in order to turn Bangladesh into a mere market of foreign goods.

International

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