Finance and Commerce Adviser Dr. Salehuddin Ahmed on Monday reiterated the government’s firm commitment to curbing extortion as part of broader efforts to reduce inflation. Speaking to reporters after a meeting with UNDP Resident Representative Stefan Liller at the finance ministry office, Dr. Salehuddin emphasized the importance of this initiative.
“I have repeatedly urged steps to curb extortion. We have never taken a negative stance on this issue, and we will certainly take action,” Dr. Salehuddin stated, addressing concerns about the impact of extortion on the economy.
He highlighted that addressing extortion is not solely an economic or trade-related decision but also involves political considerations and social values. “When one group exits, another inevitably fills the void. It will take some time to address this issue fully,” he noted, acknowledging the complexities involved.
Discussing the country’s inflation rate, which stood at 10.49 percent in August, Dr. Salehuddin expressed optimism that the message is getting through to the public as inflation trends downward. He emphasized that managing inflation requires more than just boosting supply; it involves addressing various related factors.
He assured that the government is actively working to ensure a steady supply of essential commodities, including soybean oil and rice bran oil, to prevent shortages. “Retail prices are also crucial. My position is that no additional burden should be placed on consumers,” he said.
Dr. Salehuddin also pointed to the efforts of the Directorate of National Consumer Rights Protection (DNCRP) in enforcing strict market monitoring to stabilize prices. He urged a fair assessment of the government’s measures, noting that price reductions for essential goods will not happen overnight.
Reflecting on past inflation trends, Dr. Salehuddin criticized the previous administration for irresponsible money printing, which he claimed had exacerbated inflation. It will take some time to get everything back on track, he remarked.
Regarding his meeting with the UNDP, Dr. Salehuddin shared that the organization is not only continuing its support for ongoing projects but is also proposing new initiatives. The UNDP has expressed interest in supporting the government’s reform efforts, particularly in green technology, and in assisting with Bangladesh’s transition as it graduates from the Least Developed Country (LDC) category.
In response to a query, Dr. Salehuddin highlighted the importance of technical assistance in implementing reforms, noting that the UNDP has shown a strong commitment to providing such expertise. “They were very responsive and assured us of their continued support,” he said.
