Dhaka: Commerce Adviser Sk. Bashir Uddin today announced that the interim government has successfully improved market management by shifting from a syndicated market approach to an inclusive and broad-based market strategy, moving away from the previous Awami League government’s policies.
According to Bangladesh Sangbad Sangstha, Bashir highlighted that the former Prime Minister had warned of a potential famine in March or April 2025, citing coordinated data indicating the economy was precariously positioned. However, the current government’s collective approaches, alongside a Contractionary monetary policy and supply-side improvements, have stabilized the market system.
Bashir further explained that these changes have introduced diversity within commerce, supply systems, and market management. The government has reactivated various wings under the commerce ministry, such as the directorate of consumer rights protection and the Tariff Commission, which had seen their institutional capacities diminished during the previous regime.
The adviser made these remarks in response to a question at a post-budget press conference held at the Osmani Memorial auditorium. The event was also attended by Finance Adviser Dr Salehuddin Ahmed, alongside other advisers and government officials.
Bashir emphasized that the new budget aims to streamline business activities. He pointed out that, unlike previous budgets, the proposed budget for the fiscal year 2025-26 avoids policies that disproportionately favor specific groups.
He detailed innovative measures taken by the government to diversify the rawhide market, including the supply of 30,000 tonnes of salt to madrasahs and orphanages. This initiative is intended to aid in the preservation and storage of rawhide and skin from sacrificial animals during the upcoming Eid-ul-Azha.