Bangladesh is set to announce the International Peace Prize amidst political and economic turmoil, and skyrocketing of commodity price. The medal will be named the 'Bangabandhu International Peace Medal.' Considering the financial matters associated with the medal, the Finance Department's opinion has been sought. However, Prime Minister Sheikh Hasina has approved the proposal for presentation in the Cabinet meeting.

According to sources, the government aims to introduce this award to compete with the Nobel Peace Prize. Consequently, the award's financial value may be higher than that of the Nobel Peace Prize. Currently, Nobel laureates receive a cash amount of 1.1 million US dollars, equivalent to more than 12 crore taka.

According to sources from the Cabinet Department, the government aims to utilise this medal to improve its severely-tainted international image. As a result, the government intends to confer this medal starting from the current financial year. However, if implementation is not feasible due to time constraints, it will be deferred to the next financial year.

According to sources, on May 23, 1973, the World Peace Council honoured Sheikh Mujibur Rahman with the Joliot-Curie Medal of Peace. As a tribute, the Bangabandhu International Peace Medal is scheduled to be awarded on May 23. However, since Sheikh Mujibur Rahman was born on March 17, 1920, the awardees' names will be announced on March 17. This award will be presented in three categories: individuals, institutions, and organisations. Recipients will be granted a gold medal along with a cash prize.

It is understood that following the deliberations of the selection committee and the nomination committee, the final approval for the recipients, whether individuals or institutions, will rest with the Prime Minister. Furthermore, award recipients can deliver a memorial speech on Bangabandhu if they so desire.

According to sources, Bangladesh is undergoing political unrest, with opposition political activists unable to go out on the streets. Recently, a controversial and one-sided national election has resulted in the imprisonment of 25,000 opposition leaders and activists, as reported by the United Nations. Regrettably, 11 of the prisoners have died in custody. Additionally, there is a ban against the Rapid Action Battalion (RAB) for allegations of enforced disappearance and murder, and visa restrictions have been imposed based on election-related issues. Despite these challenges, the government is proceeding with the launch of the Bangabandhu International Peace Medal.

Meanwhile, the country's general population is facing severe challenges due to the escalating prices of commodities. Ordinary citizens are experiencing extreme turmoil in their lives. The prevailing atmosphere of fear prevents people from expressing their grievances through protests. According to government accounts, the inflation rate is 9.92 per cent, with food inflation at 12.56 per cent. However, economists argue that the actual rate may exceed 20 per cent.

On May 23, 1973, the World Peace Council honoured Sheikh Mujibur Rahman with the Joliot-Curie Medal of Peace. This medal holds significant prestige and is regarded as one of the most esteemed international peace medals, second only to the Nobel Peace Prize.

From 1950 to 1989, the World Peace Council awarded the 'Joliot-Curie Medal of Peace' to around 167 world leaders. Some of the recipients of the Peace Medal include Julius Fučík of Czechoslovakia, Pablo Picasso of Spain, Pablo Neruda of Chile, Paul Robeson of America, Nazım Hikmet of Turkey, Martin Luther King Jr. of America, Fidel Castro of Cuba, Gamal Abdel Nasser of Egypt, Salvador Allende of Chile, Sheikh Mujibur Rahman of Bangladesh, Yasser Arafat of Palestine, Leonid Brezhnev of the Soviet Union, Julius Nyerere of Tanzania, etc.