Dhaka, Feb 26 (V7N) – The interim government has successfully brought the economy back from a state of disarray within a short period, said Shafiqul Alam, Press Secretary to the Chief Advisor.

Speaking as the chief guest at the 'DJFB Talk' event, organized by the Development Journalists Forum of Bangladesh (DJFB) at the NEC Conference Room in Sher-e-Bangla Nagar, he highlighted key economic developments under the current administration.

Economic Recovery and Growth

Shafiqul Alam stated that despite initial challenges, the economy is now showing positive signs, including:

  • Increased industrial activity, with new factories being established
  • Growing exports and rising remittance inflows
  • Strong confidence in Bangladesh's future as a top performer in the global economy

Challenges Inherited from Previous Government

He pointed out that the current government has had to tackle widespread corruption and mismanagement left behind by the previous administration.

  • Massive irregularities were reported in the construction of model mosques.
  • VAT and tax increases were necessary to cover financial mismanagement from past projects.
  • State-sponsored corruption plagued the energy sector, leading to inefficiencies in power generation and gas exploration.

Efforts for a Sustainable Energy Sector

To ensure long-term stability, the government is taking proactive steps:

  • Negotiating with major power companies for better energy solutions.
  • Expanding gas exploration by planning to dig multiple wells.

Banking Sector Reforms

Shafiqul Alam also addressed the banking crisis, blaming former Awami League minister Saifuzzaman for financial misconduct.

  • He stated that bank funds were misappropriated, contributing to economic instability.
  • The previous system encouraged reckless spending, forcing the current administration to increase taxes to combat wastage.
  • A significant portion of the national budget is now allocated to repay foreign debts.

Improvement in Banking Stability

Despite past setbacks, the interim government has managed to restore confidence in the banking sector.

  • Institutions like Islami Bank and others are now in a stronger financial position.
  • He claimed that under the previous government, people would have avoided keeping money in banks due to fears of instability.

The press secretary emphasized that the economic turnaround within just six months is nothing short of a miracle, attributing it to efficient policymaking and strict governance.

END/MSS/AJ