Dhaka: Finance Adviser Dr Salehuddin Ahmed announced today that the interim government is strategically procuring LNG from multiple international sources, including the USA, China, and Saudi Arabia, after a thorough comparison of global prices. This approach is aimed at optimizing procurement costs while adhering to international trading norms.
According to Bangladesh Sangbad Sangstha, Dr Salehuddin made these remarks during a media briefing following two separate meetings of the Advisers Council Committee on Economic Affairs and Government Purchase at the Bangladesh Secretariat. The Finance Adviser emphasized that the government is committed to stabilizing the macroeconomic environment while enhancing tax collection efforts, facilitated by the inclusion of tax lawyers in the Tax Representative Management System.
Addressing the USTR delegation's visit to Bangladesh, Dr Salehuddin indicated that the Commerce Ministry is focused on reducing the trade imbalance with the USA by increasing imports from the country. He acknowledged that while importing goods from the USA, such as wheat, may incur higher costs, the quality justifies the expense. He reassured that these imports are crucial to narrowing the trade gap, although their impact on exports and inflation would be minimal.
Dr Salehuddin further explained that essential goods are being provided to low-income groups at affordable prices through the Trading Corporation of Bangladesh, cushioning consumers from potential price hikes. Despite persistent challenges in local wholesale and retail markets, the overall inflation rate remains stable, with a notable decline in non-food inflation.
Tackling unemployment remains a priority, the Adviser noted, as the private sector plays a pivotal role in job creation. He assured that the government is providing necessary policy support and assistance to businesses to spur employment opportunities.
On revenue collection, he observed an improvement in recent months, attributing earlier declines to various factors, including political issues. The government is also intensifying efforts to uncover tax evasion and address allegations of irregularities, such as those in fertilizer procurement, which falls under the purview of the Ministries of Agriculture and Industries.