Dhaka: Finance Minister AMA Muhith on Tuesday disclosed a government plan to utilise the country's reserve of foreign currency for investment.

‘We are thinking seriously to invest our hard-earned remittance of the expatriates. We will take loan from our foreign exchange reserve to invest it in different projects. But the modalities of such a loan are yet to be determined,’ he said while addressing a function organised by Bangladesh Bank to accord awards to 31 expatriate individuals and 4 institutions for their outstanding performance in sending remittance to the country.

He, however, hoped to outline the modalities in the country's next budget and place a detailed plan in this regard. ‘We will utilise it for the country's interest without inviting any risk,’ he told the remittance earners assuring them of security about their hard-earned money.

The function, held at Bangla Academy Abdul Karim Sahitya Bisharat Auditorium, was also addressed by Bangladesh Bank governor Fazle Kabir, banking secretary Yunusur Rahmnan, and Bangladesh Bank deputy governor SK Sur Chowdhury.

The Finance Minister made an assertion about achieving 7.3 GDP percent growth rate in the current fiscal considering the suitable economic condition prevailing in the country.

‘This year hartal, strikes are not taking place. Our society has rejected it. So, we're going to have a good result. Next year our growth rate will certainly exceed the target,’ he said.

Lauding the role of expatriate Bangladeshis in the country's development, the Finance Minister said their income benefits the country in two ways. Their families are getting money from them, and it is also boosting the country's foreign reserves building up the confidence of the people.

But the burgeoning reserves which now stands at over $31 billion should be utilised for the national interest, he observed.

Muhith expressed the government's intention to provide training to expatriate Bangladeshis to make them more skilled and increase their income.

‘The government has planned to provide training to 65,000 workers,’ he added.

He said the expatriate Bangladeshis really love the country despite the misbehaviour of Biman officials and customs department while arriving in the country.

He said if the skill of expatriates is developed, they will be able to utilise it also in the country when they invest here.

The Finance Minister admitted that although public investment has increased substantially, the private investment in the economy remained static. But he hoped that in the current year, private investment will also increase to a substantial level.

Bangladesh Bank governor Fazle Kabir said the government is trying to digitise remittance sending process so that the expatriates can send their money through the formal channel.

One of the recipients of the remittance award, while addressing at the function, urged the government to develop a separate economic zone exclusively for expatriate Bangladeshis to promote their investment.