Despite efforts to control inflation, the prices of essential goods remain high and it frustrates Finance Adviser Dr Salehuddin Ahmed.
Speaking as the chief guest at the "PKSF Day 2024" organised by the Palli Karma Sahayak Foundation (PKSF) on Wednesday, Salehuddin voiced frustration over market instability, saying, "There is such chaos in the market; prices are not coming down even with tax reductions by the NBR. The public is understandably frustrated."
"Reducing prices is not solely the Ministry of Commerce's responsibility—there are many factors at play. People are struggling to afford basics, spending 500 taka on a few vegetables but running out of money. We are working hard to reduce market prices," added Salehuddin.
The event, focused on "Financing for Inclusive Growth," featured PKSF's Founder and Managing Director Badiur Rahman as a special guest. PKSF Chairman Zakir Ahmed Khan presided, and Acting Managing Director Md Fazlul Quader delivered a welcome speech.
Reflecting on public appreciation for recent tax relief measures, Salehuddin said, "People remember us for the good work done—whether through tax relief on bonds or improvements to savings certificates, now automatically renewed. We need to keep pushing forward on these positive changes."
He, however, expressed concern over institutional inefficiency. "We have many institutions in name only. There are buildings but no people, and a lack of transparency and accountability. I discuss these issues daily with the Governor of Bangladesh Bank."
Commenting on the export of hilsa fish to India, Salehuddin noted a mix of public reactions. "I even received calls from my younger brother about the hilsa exports. In one season, India produces over 530,000 tons of hilsa, but we’ve only exported 3,000 tons. Many believe it was a wise decision," he said.
The adviser also described positive feedback from the global community during a recent World Bank-IMF meeting. "Everyone is supportive of us. We had multiple meetings, and everyone was eager to engage. While there are some conditions, they are manageable."
Discussing Bangladesh’s development, Salehuddin highlighted the contributions of farmers, laborers, and garment workers as driving forces behind the nation’s progress. "Bangladesh has immense potential. We will make short-term reforms where possible, while the elected government focuses on long-term reforms."
The event drew PKSF’s affiliate CEOs, officers, and employees. A documentary on PKSF’s initiatives was also presented, commemorating the organisation's founding on November 13, 1989, to combat poverty through employment creation.