Dhaka: Finance Minister Amir Khosru Mahmud Chowdhury on Tuesday addressed Parliament, affirming that BNP’s political stance is firm on maintaining strict economic governance and financial discipline. ‘I want to clearly state that BNP’s politics does not allow any compromise with anyone on economic operations,’ he declared in response to a supplementary question from NCP lawmaker Md Abul Hasnat.
According to United News of Bangladesh, Hasnat Abdullah raised concerns about attempts to rehabilitate S Alam Group without loan repayments, seeking clarification on any governmental compromises with the group. The Finance Minister assured that under BNP’s rule, issues like macroeconomic stability and financial discipline were never in question. He emphasized that BNP’s economic planning remains uncompromising, citing legal actions against individuals who fled after bank frauds.
The Finance Minister discussed ongoing efforts to recover assets laundered abroad by S Alam Group and Beximco Group. Responding to another query from Abul Hasnat, Khosru detailed legal steps, including sending Mutual Legal Assistance Requests (MLARs) to various countries. Specifically, MLARs for S Alam Group have been sent to the British Virgin Islands, Cyprus, Jersey, and Singapore, while actions against Beximco Group have reached the United Kingdom and the United Arab Emirates.
Khosru explained that both criminal and civil proceedings are underway to reclaim funds, with the help of four reputable foreign law firms. He acknowledged the complexity and lengthy nature of recovering laundered assets, contingent on court proofs and international cooperation.
Furthermore, the Finance Minister highlighted government plans to revitalise the banking sector amidst a significant capital deficit, exacerbated by currency depreciation and rising operational costs. He outlined strategies to replenish capital through budgetary allocations and collaboration with the International Monetary Fund (IMF) to address the financial sector’s challenges.
Khosru also acknowledged past irregularities in loan management, stressing the government’s commitment to overcoming the banking crisis and supporting private sector recovery through strategic measures.