Finance Adviser Dr Salehuddin Ahmed on Tuesday said the government has prepared a long-term energy strategy recognising fuel security as one of Bangladesh’s major challenges.
“Energy remains a critical issue for the economy as both power and energy sectors rely heavily on a secure supply. Without assured fuel supply local production will be affected,” he told reporters after separate meetings of the Advisers Council Committee on Public Purchase and the Advisers Council Committee on Economic Affairs at the Secretariat.
“There are two dimensions—power and energy. A comprehensive approach has been taken. This includes offshore drilling initiatives and utilisation of coal including domestic coal resources. All these have been consolidated into a single framework,” he said.
Responding to another question over the interim government’s success the adviser said it is not that everything has been done or that we have achieved 100 out of 100.
“Definitely, there were expectations we could not meet due to limitations,” he said, citing procedural rules, the need for inter-agency coordination, the role of government officials, availability of skilled manpower, and commitment as key challenges.
“Without addressing these, implementation cannot happen just because we planned or wanted it,” he added.
Responding to a recent Transparency International Bangladesh (TIB) report claiming advisers exercise more power than formal institutions, Dr Salehuddin said such narratives are common and not unusual.
“Sometimes people speak louder, sometimes less. It is not correct to say nothing has been done, nor is it correct to claim everything has been achieved. There are realities and constraints,” he said.
On reports that some countries including Iran and Nepal were reluctant to engage economically with Bangladesh, he said he was unaware of the specific context but insisted Bangladesh’s overall economic position remains stable.
“Bangladesh is being viewed positively by many. For example, in terms of SDG financing, even the United Nations says Bangladesh has the capacity to mobilise funds and that other countries follow when Bangladesh agrees,” he said.
“Bangladesh is doing quite well. There may be occasional political or economic shocks but no country develops in a straight line. Economic progress is never linear anywhere,” he added.
Addressing concerns over persistently high inflation, Dr Salehuddin said, “High inflation is not just about supply and demand, nor can it be solved simply by increasing the policy rate. Supply-side issues, market dynamics, people’s behavior, cooperation, and above all governance play a major role,” he said.
Prices can’t be controlled simply by sending inspectors or magistrates and that does not work anywhere, he added.