C T Online Desk: Finance Adviser Salehuddin Ahmed has said the country’s financial sector is grappling with serious challenges.
Speaking at a press conference on the occasion of the “100 days of the interim government” at the Secretariat’s finance ministry on Tuesday, he highlighted efforts to curb corruption, streamline projects, and control unnecessary expenditures.
The event was attended by senior officials, including the National Board of Revenue (NBR) chairman, the finance secretary, and the banking and Economic Relations Division (ERD) secretaries.
Ahmed emphasized that increasing revenue remains a pressing challenge, warning that failure to do so could hinder development initiatives.
Efforts are underway to reassess projects initiated under political considerations by the previous government.
Regarding the banking sector, he noted significant issues such as legal non-compliance and weak central bank oversight during the previous administration.
“Some weak banks have been identified, and they will receive financial support, but no banks will be shut down,” he said.
Addressing inflation, Ahmed cited factors such as the printing of Tk60,000 crore during the prior regime and excessive spending on certain projects, including the Padma Bridge, whose benefits are yet to reach the financial sector.
To mitigate inflation, the government has temporarily reduced duties on some essential goods, valid until the next Ramadan.
“Inflation didn’t happen overnight,” he remarked, underscoring the complexities of the issue.
