Dr. Salehuddin Ahmed, an advisor to the newly established interim government’s ministries of finance and planning, stated today that the new administration would make every effort to enhance the quality of life for the populace.
“We want to establish an equal and just-based society and country and our aim is to ensure increasing peoples’ income alongside reducing inflation. We’ll try our best regarding the lives and livelihoods of our people,” he said while talking to reporters after assuming office at the Ministry of Finance at Bangladesh Secretariat.
In response to a query regarding the establishment of the banking panel, he stated that the government’s top goal is to rebuild the public’s confidence in banks while also completely restarting the central bank’s activities. “Then we’ll work on bringing reforms,” he stated.
Resuming the fundamental banking sector activities won’t take long, according to Dr. Salehuddin, a former governor of the central bank. The operations are already in place, but there were some deviations in the middle; they slowed down slightly but did not completely derail. We’ll pick up the speed,” he declared.
Regarding the general point to point inflation which has been affecting the lives and livelihoods of the people over the years due to various reasons, including the global economic instability, he said apart from some macroeconomic challenges, there were also some flaws in the strategies and policies of development as the marginal people were not getting the real benefits of development.
He said although growth was there in various sectors, it was not reaching the targeted beneficiaries.
In response to a question regarding Abdur Rouf Talukder’s resignation letter submitted as the governor of the central bank yesterday (Friday), Dr. Salehuddin stated that because this is a delicate matter, he would not make a judgment purely in this regard at this time.
He claimed that even while the central bank’s policies and procedures are of an international standard, the relevant authorities did not always abide by them.
He promised to be rigorous enough to bring back discipline to the banking industry and the central bank’s activities.
Regarding the allegations of siphoning off money abroad, he said they are very much aware of it while it requires necessary information to deal with the matter through a process. “But, we’ll definitely act on it,” he added.
Asked about the possible steps to deal with the growing trend of Non-Performing Loans (NPLs), the adviser said that the interim government is sincere enough to deal with this matter.
He stated that since the student-led common people’s recent great popular uprising centered on the quota reform issue has put the interim government in power at a key moment in the country, their urgent objectives are to restore peace and order. “If we can’t fix it, then our pace of operations will slow down,” he stated.
Restoring law and order, according to him, entails not just enforcing discipline on the roadways but also fully resuming operations at banks and ports.
“But, definitely we’ll try to address the persisting challenges in the macro economy including inflation. Immediately our main focus is that if the pace of economy is slowed down for some reasons, then we can restart it like a vehicle engine. But, if it comes to a full halt, then it would take much time to start it again which will also consume much energy. We’ll try to expedite the pace through motivating all concerned,” he added.
The financial advisor stated that although there were certain inconsistencies in the leadership and management of certain individuals, the nation’s boundless vitality is a significant asset. “We’ll have to immediately address the challenges and thus move forward so that we can create a smooth path for those who would come to the leadership in future.”
Dr. Salehuddin welcomed proactive recommendations from all interested parties, including the media, and asked for everyone’s unconditional support.
