The period in-between authorities has inherited a devastated financial scenario from the old Awami League administration, Finance Adviser Dr Salehuddin Ahmed mentioned this present day (19 November).
Talking at a press briefing held in the Multipurpose Hall of the finance ministry, he highlighted frequent irregularities and corruption in sectors ranging from banking to pattern initiatives.
“From the banking sector to the capital market, there’s a bleak space all over. Irregularities and corruption in pattern initiatives have compounded the disaster,” he mentioned.
Dr Salehuddin assured that the authorities is working diligently to manage with the disorders. “We are attempting laborious to correct all these anomalies,” he mentioned, emphasising efforts to revive utter and stability across key financial sectors.
Outlining the authorities’s fiscal priorities, the adviser mentioned austerity measures are being applied to decrease the funds deficit. “With that, we face the reveal of growing earnings. With out bettering earnings, we usually are not in a secure 22 situation to finance our pattern initiatives,” he added.
To raise self-discipline in the monetary sector, the adviser mentioned that the authorities is scrutinizing the annual pattern initiatives to resolve out which initiatives had been taken politically or unnecessarily.
Turning his attention to the banking sector, he smartly-known that valuable steps were taken by Bangladesh Monetary institution to stabilize the design. “In consequence, the banking sector is reviving. We keep no longer have any notion to shut down any monetary institution,” he assured.
Alternatively, he acknowledged lingering weaknesses interior the central monetary institution. “Bangladesh Monetary institution itself desires to be reformed,” he mentioned, pointing to deficiencies in supervision, monitoring, and policymaking.
“Reforms have to spin past amending licensed pointers,” Dr Salehuddin mentioned.
