Dr Salehuddin Ahmed Finance Adviser Dr Salehuddin Ahmed said on Monday that the government has not assumed power, rather has taken responsibilities entrusted to them by the students and people of the country.
"We're trying to perform our duties following this assumption of responsibility," he said while addressing the "3rd Bangladesh Economic Conference" organised by Banik Barta at Pan Pacific Sonargaon Hotel in the capital.
With this year's conference theme focused on "Discrimination, Financial Crimes, and Remedies for Bangladesh's Economy", Dr Salehuddin emphasised that the interim government has no personal agenda to govern the country.
"Our only agenda is to serve the nation's interests," he added.
The adviser highlighted the efficiency of decision-making under the interim administration, noting that while decisions are made swiftly, they are also taken with due care.
"Our decisions on import taxes, for instance, were aimed at reducing food prices. In political governments, such decisions often take longer due to certain political constraints."
"We aim to leave a lasting impact," Dr Salehuddin stated, expressing hope that whatever progress they achieve-whether short-term or medium-term- would continue to benefit the people.
The legacy of these measures might encourage future governments to maintain them, spurring public demand for sustained improvements, he concluded.
Former caretaker-government adviser and economist Hossain Zillur Rahman, BNP vice-chairman Abdul Awal Mintoo, BNP standing committee member Amir Khasru Mahmud Chowdhury, National Board of Revenue chairman Abdur Rahman Khan, ADB country director Hoe Yun Jeong and newly-appointed commerce adviser Sheikh Bashir Uddin, among others, addressed the function.
Hossain Zillur Rahman responded to the finance adviser's remarks, suggesting that distinguishing between "assuming responsibility" and "assuming power" could indicate an avoidance of accountability.
"If you're in power, you must be accountable for that power," he stated, emphasising that responsibility comes with accountability.
He noted that while the interim government has been implementing quick policies, policy without implementation is merely paperwork.
According to Rahman, the government's efforts seem focused solely on the capital, Dhaka.
He urged the government to extend its reach to rural areas and engage directly with citizens.
He criticised several mega projects from the previous administration as "vanity projects" that he believes are unnecessary for the country's development.
He also announced that his research organisation 'Power and Participation Research Centre (PPRC)' will soon introduce a "harassment index," emphasising that addressing harassment is more pressing than tackling corruption alone.
Responding to the adviser's remarks, Abdul Awal Mintoo stated that power and responsibility are inseparable, likening them to 'twin brothers.
He called the adviser's statement "dangerous" and questioned on whose behalf the responsibilities are being carried out.
"Those who take on responsibilities are inherently in power," Mintoo argued.
"It's unacceptable to claim you've taken responsibility without holding power," he said, urging against creating an escape route.
The BNP vice-chairman further emphasised that, like power and responsibility, politics and the economy are deeply intertwined.
"A country's economy cannot thrive if its politics is unstable," he noted, adding that politics is central to everything, with the economy and other sectors revolving around it.
He criticised monetary policy decisions for focusing inflation only that is chocking the country's businesses and economy.
In response to the finance adviser's remarks on leaving a lasting "footprint," Amir Khasru Mahmud argued that without accountability to the people, any temporary actions would be ineffective.
"Reform can only be achieved through a democratic process," he asserted, noting the absence of political accountability and the degradation of national institutions.
"Ultimately, accountability must stem from the people, who need their political representatives in place," he said, adding that even the credibility of national statistics is now in question.
If the BNP forms the government, it will allocate 10 per cent of the GDP to health and education, committing 05 per cent to each sector, Khasru said.
"Our aim is to ensure universal health care, improving citizens' health so they can contribute effectively to the nation. Bangladesh has missed the opportunity to harness its demographic dividend due to insufficient investment in health and education," he explained.
Low spending in these areas has also reduced people's purchasing power, he added.
He criticised the concentration of wealth among a small elite, attributing it to a lack of economic democratisation and an uneven playing field.
"What we see in the power sector is not a true market economy," he commented. "Certain individuals have been unduly favored, with the public bearing the cost of these privileges."
Amir Khasru also emphasised that foreign direct investment (FDI) would not be attracted without a stable, democratically-elected government.
He expressed the BNP's full support for the interim government's efforts to ensure a smooth transition to democracy.
Sheikh Bashir Uddin revealed that millions of dollars had been siphoned from the country as recently as August 5.
"The freedom we won at the cost of 2,000 lives must not be compromised," he stated.
He expressed disappointment over the politicisation of the business sector, saying, "At times, I feel ashamed to call myself a businessman."
The adviser pledged to do his utmost to reduce the cost of doing business in Bangladesh.
Asian Development Bank (ADB) Country Director Hoe Yun Jeong said Bangladesh needs urgent comprehensive financial sector reforms.
He said vulnerability within the financial system, including high level of non-performing loans and lax regulatory oversight, has been exacerbated by the economic uncertainty.
He said their general perception is that NPL is much higher than that reported.
Lack of public confidence can lead to capital plight, reduced investment and slow economic growth," he said, adding that tackling high NPL through rigorous asset quality reviews and recovery strategies is essential.
Abdur Rahman Khan said reforms going on different sectors in government will have impact on NBR as well.
He said the NBR would amend all discriminatory policies and rules of the NBR.
East Coast Group Chairman Azam J Chowdhury, Pro-vice-chancellor Sayema Haque Bidisha, Executive Director of Institute for Inclusive Finance and Development Dr Mustafa K Mujeri, Chairman and MD of Unilever Bangladesh Mohammad Zaved Akhtar, City bank MD and CEO Mashrur Arefin, former MCCI president Barrister Nihad Kabir and ABB Chairman Selim RF Hussain also spoke.
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