Financial advisor Salehuddin Ahmed commented that the country's financial sector is facing a dire challenge. He made this comment at a press conference called on the occasion of '100 days of the Interim Government' at the Multipurpose Hall of the Ministry of Finance of the Secretariat on Tuesday (November 19).
The press conference was attended by Chairman NBR, Secretary Finance, Secretary Banking Division and Secretary Economic Relations Department (ERD).
The finance advisor said that the government is trying to stop corruption and irregularities and speed up the implementation of necessary projects. However, efforts are being made to control all types of unnecessary expenses except the essential ones. Purchase of all types of vehicles has been stopped. Increasing revenue is the big challenge right now. Failure to do so will hamper developmental activities.
The finance advisor also said that the importance of the projects taken into political consideration during the previous government is being re-examined.
This former governor also spoke about the banking sector. He said, during the previous government's rule, disobeying the law was the biggest problem in the banking sector. There was also a deficiency in the supervision of the central bank. Due to which this plight of the banking sector has arisen. Some weak banks have been identified in this context. They will be given financial assistance. However, no bank will be closed in any way.
Regarding the price inflation in the market, the advisor said, the inflation did not happen in a day. Earlier, 60 thousand crore rupees were printed; Which is one of the reasons for the rise in inflation. Also unnecessary expenditure has been incurred on various projects. Bridging the Padma has eased people's communication, but its benefits have yet to trickle down to the financial sector. Due to these reasons inflation has increased. The government has reduced the duty on some products to control inflation; Which will be valid till the next month of Ramadan.
