Bangladesh Govt. bans purchase of vehicles as part of austerity measure

Dhaka: The government of Bangladesh has further tightened the austerity measures in the country considering the global economic situation.

A circular of the finance division of the government of Bangladesh has stopped purchases of vehicles including ships and aircrafts by all government and semi-govt, autonomous, statutory, state-owned companies and financial institutions. The circular announced several other measures to stop or reduce expenditure over the operational and development budget for the current financial year 2023.

These organisations will also be allowed to spend only 50 percent of their allocations on entertainment expenditure as well as other expenditure on stationery items, computers and miscellaneous equipment and furniture. Moreover, all the expenses over training inside the country will also be restricted to half of the allocation.

The government of Bangladesh has taken several austerity measures in the wake of the global economic situation following the Covid-19 pandemic and the Russia-Ukraine war.