Interim government’s Finance Advisor Dr. Salehuddin Ahmed has stated that the country’s declining economy has started showing signs of stability. Additionally, the foreign exchange reserves are also increasing, with foreign partner organizations responding very positively in this regard.
He made these remarks on Saturday (November 30) at a trade conference organized by the Dhaka Chamber of Commerce and Industry (DCCI) in a hotel in the capital.
The Finance Advisor said that it is not possible to normalize the irregularities and corruption left by the previous government in 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 anymore.
He further mentioned, “A few days ago, 22,000 crore taka was provided to the banks. The Governor was reluctant to provide it, but I insisted. This was to bring some stability. Then the newspapers wrote that new currency will be printed. Of course, money needs to be printed, as it deteriorates naturally. What else can Bangladesh Bank do? Previously, 60,000 crore taka was printed; this is not unprecedented. But credit supply to the private sector must not decrease in any way. Although it is slightly reduced at present.”
Private Sector Loans
Regarding private sector loans, Dr. Salehuddin Ahmed stated that the policy rate is not being raised for now. The government is ensuring that the loan flow to the private sector does not decline.
National Board of Revenue (NBR)
He added that revenue collectors and lawmakers will be separated. The graduation from LDC status will not negatively impact the garment industry.
The event was attended by Trade Advisor Sheikh Bashiruddin, DCCI President Ashraf Ahmed, Association of Bankers Bangladesh Limited (ABB) Chairman Selim RF Rahman, President of the Foreign Investors Chamber of Commerce and Industry (FICCI) Javed Akhtar, and many others.
Source: Ittefaq
