Finance Adviser Dr. Salehuddin Ahmed on Tuesday said the interim administration is leaving a stable and “comfortable” economy for the next government, while highlighting key challenges ahead. He stressed the need to boost industrial growth, create jobs, strengthen the financial sector, and address long-term issues such as energy and inflation to ensure continued economic stability.
He outlined key economic challenges facing the next government, emphasizing the need to expand trade and industry, generate employment, and strengthen financial sector institutions.
“If business doesn’t expand, employment won’t grow. Without jobs, people’s purchasing power remains weak. This is one of the biggest challenges,” he said.
Dr. Salehuddin made the remarks after chairing a meeting of the Advisers Council Committee on Government Purchase at the Cabinet Division conference room in the Bangladesh Secretariat.
He noted that revitalizing business and industrial activity is crucial, as job creation depends heavily on a vibrant private sector. Bangladesh’s industrial base remains relatively small, and the country continues to rely heavily on exports.
“We need to build our own industrial strength, especially small and medium enterprises,” he said, adding that inflation remains a concern that cannot be tackled by monetary policy alone. “Inflation is multidimensional. Broader measures are needed alongside monetary steps.”
On the banking sector, Dr. Salehuddin said reforms have begun, but more difficult decisions lie ahead. While praising the central bank governor’s recent efforts, he acknowledged that credit supply remains limited and confidence has not fully returned, though deposits have started to rise.
He stressed the need to develop the capital market to reduce excessive reliance on banks for business financing. “Without a strong equity and bond market for the private sector, trade and industry cannot grow sustainably. Legal and regulatory hurdles remain a challenge,” he said.
The Finance Adviser also highlighted the insurance sector as another area requiring reform, noting that progress has been limited.
Energy remains a major long-term challenge. Dr. Salehuddin emphasized the need to increase domestic exploration, including offshore drilling, and expand solar energy production to meet growing demand.
Bd-pratidin English/ Jisan
