The interim government's finance and planning adviser, Dr Salehuddin Ahmed has remarked that controlling inflation cannot be achieved abruptly and will necessitate time, asserting that the government is undertaking all necessary measures to manage the situation.
"Inflation control is not akin to pulling the reins of a horse; it will take a logical amount of time," he stated following a meeting on inflation at the Ministry of Finance on Wednesday (14 August).
He highlighted that increasing production will be pivotal in the efforts to control inflation, emphasising that the process will be conducted systematically.
The adviser also noted a recent reduction in vegetable prices and underscored the need to bring business and trade back on the right track.
"Government is aware of the syndicates affecting market prices," he added.
Furthermore, he stressed that a focus will be placed on enhancing food production and supply.
A coordinated approach will be taken towards managing inflation and revenue collection, with policy implementation being a key component.
"We will take only as much food as we can eat," he remarked, metaphorically indicating a balanced approach.
The newly appointed Bangladesh Bank Governor Ahsan H Mansur, predicted that inflation would be brought under control within the next four to five months.
He indicated that maintaining a comfortable level of foreign reserves would help manage inflation, with the remaining reserves being utilised for imports.
He acknowledged the existing shortfall in imported goods and assured that imports would be maximised within feasible limits.
On the topic of bank mergers, the central bank governor stated that any decisions would be made with careful consideration.
