Sun rises, not surrounded by darkness

Finance Adviser Dr. Salehuddin Ahmed described the interim government's success in the macroeconomic sector as a positive step forward on Tuesday, stating that the sun has already risen and is not surrounded by darkness, report agencies.

"I think dawn shows the day. The sun has already risen and it's not surrounded by darkness...yes, there are expectations, but we didn't make a bad start," he said at a press conference at the Secretariat.

Salehuddin emphasized that reforms in various sectors are a continuous process, with the interim government focusing on short-term measures while long-term reforms will be the responsibility of the succeeding administration.

"We'll leave a footprint... we're giving an outline of reforms, and the successive government will follow those," he added.

He further stated that the interim government has inherited a devastated economic situation from the previous Awami League administration, highlighting widespread irregularities and corruption in sectors ranging from banking to development projects.

"From the banking sector to the capital market, there is a bleak scenario everywhere. Irregularities and corruption in development projects have compounded the crisis," he said.

Dr. Salehuddin assured that the government is diligently working to address these issues, striving to restore order and stability across key economic sectors.

The Artha Rin Adalat would be activated more to expedite the pace for realizing classified loans or Non Performing Loans (NPLs), He said further.

Salehuddin also informed that steps would be taken to dissolve speedily the writ petitions with the High Court in this regard.

He said that there are two separate benches in the High Court to deal with the writ petitions while he has already talked to the Attorney General of and the Bangladesh Bank Governor so that these benches only deal with writ petitions in next three months.

Regarding the banking sector, he mentioned that some banks are recovering well, while others may continue to struggle, but no banks will be shut down.

"Some banks are recovering. Islami Bank, the largest bank, is improving. However, some banks will continue to struggle. But we will not shut down any bank," he said.

The Finance Adviser highlighted the government's commitment to stabilizing the banking sector despite challenges.

In response to concerns about the capital market, the finance adviser acknowledged the struggles of small investors but assured that the government is working to compensate them, though he cautioned that this would take time.