Finance Advisor Assures Economic Stability

Interim Finance Advisor Dr. Salehuddin Ahmed has stated that the country's economy, which had been in decline, is beginning to show signs of stability. He also mentioned that foreign exchange reserves are increasing, and foreign partner organizations are responding very positively.

He made these remarks on Saturday (November 30) at a business conference organized by the Dhaka Chamber of Commerce and Industry (DCCI) at a hotel in the capital.

Dr. Salehuddin Ahmed said, "The irregularities and corruption left by the previous government cannot be corrected in just two to four months. What has happened in the economic sector over the last 15 years is unimaginable. However, in the future, no one will be able to launder money."

He added, "A few days ago, 22,000 crore taka was given to the banks. The governor didn’t want to give it, but I insisted. We need to stabilize things a bit. Then I saw in the newspapers that new currency notes would be printed. Of course, we have to print money; it naturally gets devalued. What should Bangladesh Bank do? Earlier, 60,000 crore taka was printed. The situation is not as simple as it seems. We must ensure that credit supply to the private sector doesn’t decrease, though it has decreased a bit now."

On private sector lending, Dr. Salehuddin Ahmed said, "The policy rate will not be increased for now. The government is focused on ensuring that lending to the private sector does not decline."

Regarding the National Board of Revenue (NBR), he mentioned, "The roles of revenue collectors and lawmakers will be separated. If Bangladesh graduates from the LDC status, it will not negatively affect the garment industry."

The event was attended by Trade Advisor Sheikh Bashiruddin, DCCI President Ashraf Ahmed, Chairman of the Association of Bankers Bangladesh Limited (ABBL) Selim R. F. Rahman, President of the Foreign Investors Chamber of Commerce and Industry (FICCI) Javed Akhtar, and many others.