Finance Minister promises to tackle economic challenges

New Finance Minister Abul Hassan Mahmood Ali has pledged to tackle economic challenges surrounding the country's economy.

"We all know about the challenges centering the country's economy. Now we'll have to work together to address the challenges," Ali said after taking office at the Ministry of Finance at Bangladesh Secretariat in the capital Dhaka on Sunday.

Ali, however, said that it is not possible to solve all the problems overnight. "Let us work and see and we also need support from the media," he added.

Asked about his priority, the new finance minister said efforts to curb commodity prices would be a top priority during the upcoming Holy Month of Ramadan.

"I think there is no such solution where everything can be resolved after taking office a day before. Please give me some time and our team some time...We'll keep in mind the ensuing month of Ramadan," he said.

In this regard, he noted that the Ministry of Finance would work with the Ministry of Commerce to keep the prices of commodities under control.

"The Finance Ministry and the Commerce Ministry will have to work together. None can accomplish such task of controlling price of commodities alone..." he added.

Replying to another question about his possible steps to bring back the laundered money, Ali said it would take some time to frame the strategic work plan in this regard.

He told another questioner that the Taka has devalued against the US Dollar not only in the country but also in the neighboring countries. "Please give us some time, it's not possible to address all things in one day."

Mahmood Ali, who served as the chairman of the parliamentary standing committee on the Ministry of Finance in the immediate past government, said that he was trying to understand the problems and issues of the economy and thus try to address those.

"I will try my level best. Whatever the Prime Minister had given me the responsibilities, I had delivered those at my best. So, I'm not a man to sit idle," he said.

Ali, who had previously served the Bangladesh government as foreign minister, said that upon his appointment as the new finance minister, he hardly got any time to think afresh as thousands of people came to him to extend their unwavering support.

Earlier in the day, the newly-appointed finance minister stepped into his office.

To keep the new finance minister updated, a joint briefing was prepared by the ministry's four divisions-- Finance, Financial Institutions, Internal Resources and Economic Relations.

Source: BSS