Extortion increased after 5 Aug, not possible to control it without political govt: Finance adviser
He says that extortion is driving up commodity prices, but tackling the issue is not the responsibility of his ministry.
Finance Adviser Salehuddin Ahmed has said that extortion has risen across the country since 5 August, and the interim government has failed to bring it under control.
Speaking to The Business Standard at his office in the Ministry of Finance today (30 September), he stated that without political commitment and an elected government, controlling extortion is not possible.
"For example, if Tk1 was extorted earlier, now Tk1.5-Tk2 is being taken. Since 5 August, various groups have become involved in extortion, including those who were not previously engaged. Even members of business associations are involved," he said.
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He added that extortion is driving up commodity prices, but tackling the issue is not the responsibility of his ministry.
"The interim government is not following a 'catch this person, catch that person' approach," he remarked.
Despite these challenges, Salehuddin expressed optimism that inflation will come down to 7% by June next year.
Earlier on 21 May, business leaders sounded a dire warning over the rapidly deteriorating law and order situation nationwide, declaring that pervasive extortion has become an "intolerable burden" on their daily operations.
At a discussion hosted by the Dhaka Chamber of Commerce and Industry (DCCI) on 21 May, they expressed deep disappointment, stating that their hopes for an improvement in law and order since the government change last August have been dashed; instead, the situation has worsened, severely impacting both small and large businesses amidst a rise in extortion, theft, mugging, and the hijacking of goods.
Meanwhile, a new survey by the Power and Participation Research Centre (PPRC) has revealed that harassment has become a pervasive part of everyday life for Bangladeshi families, cutting across essential services, workplaces, and public spaces.
The study findings, that was published on 25 August, highlights that, alongside recurring household crises such as natural disasters, medical expenses, loan repayments, education costs, and legal battles, harassment has surfaced as a distinct and damaging problem that has not yet received the policy attention it demands.
The report makes a clear distinction between harassment and corruption, stressing that the economic and emotional toll of the former is often overlooked. "A bribe may be only Tk10, but the week lost in delays and hassles costs much more," the study notes, underlining the hidden financial and productivity losses borne by households.
The prices of daily essentials are high due to failure to control the extortion and hoarding, said Fahmida Khatun, executive director of the Centre for Policy Dialogue (CPD) on 29 January.
She made the comment while speaking at a media briefing on "Bangladesh Economy 2024-25: First Interim Review," organised by CPD, where a report titled "Bangladesh Economy 2024-25: Challenges in Meeting Expectations Amid Crisis" was presented.
