Govt to form fund for mitigating effects of natural calamities
The government is going to float a budgetary fund from the next fiscal year for mitigating the effects of natural calamities, the finance and planning adviser, AB Mirza Azizul Islam, informed a pre-budget consultation meeting on Wednesday. The disclosure of such a contingency fund was made following a call from the Bangladesh Economic Association for launching the fund, amounting to Tk 1,000 crore, with local resources. The Ministry of Finance is already working on how to float the fund, and its size in the initial year [2008-09] may be small, said the secretary to the ministry.