Interim govt inherited economic crisis from Awami League: Finance adviser
"From the banking sector to the capital market, there is a bleak scenario everywhere," says Salehuddin Ahmed
The interim government has inherited a devastated economic situation from the previous Awami League administration, Finance Adviser Dr Salehuddin Ahmed said today (19 November).
Speaking at a press briefing held in the Multipurpose Hall of the finance ministry, he highlighted widespread irregularities and corruption in sectors ranging from banking to development projects.
"From the banking sector to the capital market, there is a bleak scenario everywhere. Irregularities and corruption in development projects have compounded the crisis," he said.
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Dr Salehuddin assured that the government is working diligently to address the issues. "We are trying hard to correct all these anomalies," he said, emphasising efforts to restore order and stability across key economic sectors.
Outlining the government's fiscal priorities, the adviser said austerity measures are being implemented to reduce the budget deficit. "With that, we face the challenge of increasing revenue. Without improving revenue, we will not be able to finance our development projects," he added.
To bring discipline in the financial sector, the adviser said that the government is scrutinizing the annual development projects to figure out which projects were taken politically or unnecessarily.
Turning his attention to the banking sector, he noted that significant steps have been taken by Bangladesh Bank to stabilize the system. "As a result, the banking sector is reviving. We do not have any plan to close down any bank," he assured.
However, he acknowledged lingering weaknesses within the central bank. "Bangladesh Bank itself needs to be reformed," he said, pointing to deficiencies in supervision, monitoring, and policymaking.
"Reforms must go beyond amending laws," Dr Salehuddin said.
