No bank depositor would be harmed and there is no reason for them to worry, said Shafiqul Alam, press secretary to the chief adviser, on Wednesday.
"We are prioritising the interests of depositors, not banks. Had we not taken these steps to stabilise the banking sector, people would have lost all confidence in banks," he said at an event titled "DJFB Talk".
The programme was organised by the Development Journalist Forum of Bangladesh (DJFB) at the NEC auditorium in the capital.
Journalists asked Shafiqul questions about the impacts of Bangladesh Bank Governor Ahsan H Mansur's recent remarks that the chances of keeping some ailing banks alive are slim.
The press secretary replied that central bank governors in many countries speak less as bank robberies do not happen in broad daylight before the public.
"A group has looted Tk 1.25 trillion openly, while about Tk 800 billion has been siphoned from Islami Bank. Will this money be recovered from S Alam?" he asked.
The key takeaway is that the governor has delivered a strong message about restoring discipline in the banking sector, assuring everyone that stability will be maintained, explained Shafiqul.
He also said Islami Bank and UCB are on the way to stabilisation and others are also heading in the right direction. He expressed hope that every bank would move towards a stronger, more secure position.
Shafiqul described the country's economic recovery over the past six months as a miracle, but cautioned that inefficiencies in the energy sector are hindering investment.
He noted that inflation had decreased in the last two months and is expected to fall to 7 per cent by June. "To curb inflation, interest rates on loans have been increased."
The press secretary criticised the previous Awami League government for mismanagement in the energy and power sectors, an inefficient logistics system, and the waste of public funds on unnecessary infrastructure projects that primarily benefitted a specific group.
"The power system was structured for exploitation, while essential investments were neglected. The revenue system was poorly managed, leaving the country with empty coffers after the previous government's spending spree," Shafiqul stated.
He pointed out some costly projects - such as the 560 model mosques that could have been built for less and a poorly planned railway line where trains remain idle for most of the day - as clear examples of wasted public money.
Shafiqul claimed the Karnaphuli tunnel was constructed to provide former land minister Saifuzzaman Chowdhury Javed with easier access to his home in Chattogram's Anwara.
He further accused Saifuzzaman of building a Tk 4.5 billion hotel, assuming he [Saifuzzaman] would remain in power until 2041.
The tunnel should have been built over 10 years when more development could have taken place, said Shafiqul.
He said the energy sector had faced state-sponsored corruption and called for urgent reforms there.
The press secretary further emphasised the ongoing efforts to improve the Chattogram port's efficiency and combat embezzlement, stressing the importance of proper investment and planning to prevent financial waste.
Shafiqul highlighted that discussions with major power companies are in progress to address the electricity crisis, including plans to drill gas wells.
He underscored the need to enhance port efficiency to attract foreign investment and increase re-exports, adding there are ongoing discussions with international companies to drive growth.
DJFB Secretary Abu Hena Muhib moderated the event chaired by SAM Hamid-Uz-Zaman, president of the platform.
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