Finance advisor. Salehuddin Ahmed said that the interim government has no agenda in running the government. No personal agenda either. Our agenda is the interest of the country.
He also said that although it is called digital Bangladesh, unfortunately we have not been able to be digitized in that way. Nothing is possible without transparency and accountability here.
He said these things at the seminar titled ‘Inequality, Financial Crime and Cure of Bangladesh’s Economy’ organized by daily ‘Banik Barta’ at Pan Pacific Sonargaon in the capital on Monday (November 11).
In the seminar, under the chairmanship of the editor of ‘Baniq Barta’, Dewan Hanif Mahmud, the interim government’s adviser on finance, science and technology was present as the chief guest. Salehuddin Ahmed. The Governor of Bangladesh Bank as a guest at the seminar. Ahsan H. Mansoor, Professor of Economics Department of Dhaka University. Saima Haque Bidisha, former Minister of Commerce Amir Khosru Mahmud Chowdhury, former caretaker government’s trade advisor. Hossain Zillur Rahman and Asian Development Bank (ADB) Country Director Hoe Yun Jeong were present.
Dr. Salehuddin said, we have been given many responsibilities – medium, short and long term. In this medium term plan can be implemented. The long term will be implemented by the elected government. We will do something in the medium and short term, so that another government comes and works like that. Now wealth inequality is greater than income inequality. We are trying to automate most of the services. Although we say digital Bangladesh, it is sad that we have not been digitized in that way. Nothing is possible without transparency and accountability.
Financial advisor says, our decisions are quick now. This decision being quick does not mean a slip shot decision. We are thinking and making quick decisions. We try to reduce food prices, duty. It used to take time to make these decisions. Again there are some political imperatives, it is not possible to do that.
He said, we want to leave a footprint. Which I will leave in short term or medium term, whatever government comes to power in future, they should implement it. People should be satisfied with the footprint they will leave. Then the people will put pressure on the political government, why aren’t you doing it?
Dr. Ahsan H. Mansoor said, you have seen in the media that a receiver has been appointed in Beximco. No business organization bank account has been closed. Giving a Beximco receiver does not mean it is turned off, rather it is activated. Because, for the last few months, Beximco’s salary and allowances have been paid by the government. Any company is trying to survive. This was done to activate Beximco. They could not pay wages to workers for several months. Now the receiver will be activated by placing it. At the same time Beximco’s export money should not be wasted. It should be seen that the country’s money returns to the country.
Regarding banks, he said, our banking sector has suffered the most in the past. But not everything will be solved quickly. I have to quit my job if I want a quick fix or fix. Because one bank’s assets of 27 thousand crore rupees, one family has taken 23 thousand, there is no magic in my hand. But I can say that no bank will be closed. Liquidity support is being given to weak banks as they are unable to withdraw money, all will be resolved.
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Interview Between the Time.news Editor and Finance Expert Salehuddin Ahmed
Editor: Welcome, Salehuddin Ahmed, and thank you for joining us today. You recently spoke at the seminar titled ”Inequality, Financial Crime and Cure of Bangladesh’s Economy.” It seems that the implications of wealth inequality are becoming a pressing issue. Could you elaborate on what you meant by saying wealth inequality is greater than income inequality?
Salehuddin Ahmed: Thank you for having me. Yes, what we are witnessing in Bangladesh is a troubling trend where the gap between the wealth of the very rich and the very poor is widening significantly, more so than the gap in income. This disparity creates long-term socio-economic issues that hamper our overall development. Addressing this requires not only economic policies but also social initiatives that focus on inclusive growth.
Editor: You also mentioned the importance of establishing transparency and accountability in governance to realize the dream of a “Digital Bangladesh.” Can you explain how these factors play into the current economic scenario?
Salehuddin Ahmed: Absolutely. Transparency and accountability are the bedrock of any successful government administration, especially in a digitalized environment. If citizens do not trust the systems in place, it is challenging to implement technology effectively. We need to ensure that our digital initiatives are not just for show but are rooted in an honest framework that allows the public to see and understand how decisions are made.
Editor: In your seminar, you talked about the responsibilities that the interim government has regarding medium, short, and long-term plans. What steps are being implemented in the short and medium terms?
Salehuddin Ahmed: We are focusing on actionable policies that can yield results quickly. For instance, we are actively working to automate government services, which we believe will improve efficiency and reduce corruption. While some of these initiatives may seem small, they are designed to create a foundation that the next elected government can build upon. Our goal is to ensure that we leave a positive impact, a “footprint,” as I like to call it.
Editor: You also mentioned quick decision-making when it comes to reducing food prices and duties. How does this rapid decision-making work in the context of political imperatives?
Salehuddin Ahmed: Quick decision-making is crucial, especially in volatile economic conditions. We have shifted to a model where we prioritize rapid responses to emerging needs. However, it’s important to mention that political realities sometimes constrain our ability to act. While economic imperatives demand fast actions, we must navigate the political landscape carefully to avoid backlash. Our challenge is to strike a balance between immediate needs and the political context.
Editor: There has been some media coverage regarding Beximco and the appointment of a receiver. Dr. Ahsan H. Mansoor mentioned that this does not mean the organization is shutting down. Could you clarify how businesses like Beximco can remain solvent in these situations?
Salehuddin Ahmed: That’s a critical point. Appointing a receiver often raises concerns about a company’s viability, but in this case, it can actually serve as a mechanism for revitalizing the company’s operations. The government has continued to support Beximco by ensuring salaries are paid, which indicates our commitment to stabilize key players in the economy. The intention is to set up a system that not only allows businesses to weather storms but emerge stronger.
Editor: Salehuddin, thank you for your insights. It is evident that while challenges persist, there is also a framework forming to address critical issues facing Bangladesh’s economy. We appreciate your time and look forward to seeing how these strategies unfold.
Salehuddin Ahmed: Thank you for hosting this important discussion. It is through dialogue that we can promote the transparency and accountability that many Bangladeshis seek.