Nobody will be forced out, law will take its own course: Salehuddin

None will be forced out from any institutions and any past criminal activities will be addressed according to the law, Salehuddin Ahmed, the newly appointed Finance and Planning Adviser to the interim government, has said.

Operations in all institutions will proceed normally, and actions such as "forcing individuals out" will not occur, he told the media following a meeting with officials at his Secretariat office yesterday. 

"The central bank, all other banks, capital markets, ports will all be operational," he added. "No matter who is present or absent; these will work as required. Everything will proceed according to the schedule, rules, regulations, and norms. Discretionary or special powers will not be applied."

The financial adviser further said restoring law and order involves more than just managing security; it includes reopening banks and ports.

"Among the other challenges, economic issues are prominent. We will prioritise addressing inflation promptly."

Salehuddin said that if the economy slows down, business will also be affected. If it stops completely, restarting will take significant time and effort. Therefore, he emphasised the need to keep the economy running.

Regarding how long it would take to bring the economy on the right track, he said basic tasks will not take long. "The economy isn't derailed but has slowed down. It was on the right track but deviated temporarily, and efforts will be made to speed up its recovery."

He noted that Bangladesh's strong work ethic is a key advantage and with effective leadership and management, issues can be resolved quickly. He also sought advice from both public and private sectors to aid the new government's economic reforms.

He also sought media cooperation, saying, "Criticise if there are genuine mistakes, but avoid unnecessary criticism."

He said that besides focusing on macroeconomics and inflation control, there were flaws in the development strategy. Not everyone has benefited from growth, and it's crucial to address fairness and equality. The aim is to improve income equality and protect people's lives and livelihoods.

Laundering and oligarchs 

Regarding money laundering, he stated, "We are aware of the situation. There is a process in place that requires gathering information and contacting the relevant parties."

He assured that initiatives will be taken to bring back the smuggled money from the country. "However, our primary focus right now is to restore law and order. Failure to achieve this could lead to further complications."

Asked about Awami League's oligarchs, he said these are long-term concerns. The immediate focus is on fixing law and order and addressing problems in the banking sector.

Banking sector

When asked about forming a bank commission, the finance and planning advisor said that building confidence in the banks must come first, followed by reforms. "Immediate renovations would make effective work difficult."

Salehuddin, also a former governor of the central bank, noted that while Bangladesh's rules and norms meet international standards, they are not always accepted or followed. 

He pointed out that the Bangladesh Bank often changes its circulars within a day, which wasn't the case in the past. He expressed a desire to strengthen the system.

Resignations

Regarding the resignation of the Bangladesh Bank governor, he confirmed that the resignation letter has been submitted. It is a procedural matter, and a decision will be made after a meeting on Sunday.

He noted that some deputy governors of Bangladesh Bank have resigned under pressure and many bank MDs are not working. He said it is up to individuals to decide whether to return to work, emphasising that safety concerns are taken seriously.

When asked about the resignation of the NBR chairman, he confirmed that there was no resignation. The NBR Chairman has been assigned a revenue collection target and is working towards it.