Finance Advisor Dr. Salehuddin Ahmed: Businessmen Are Powerful, Breaking Their Influence Is Challenging.
In a recent statement, Finance Advisor Dr. Salehuddin Ahmed acknowledged the significant influence of businessmen in the country, emphasizing that breaking their hold over the market is not an easy task. He made these comments during a press interaction following a meeting of the Advisory Council Committee on Government Procurement at the Secretariat on Wednesday.
Dr. Ahmed clarified that businessmen should not be labeled as a “syndicate,” but pointed out that the business community—comprising large, medium, and small entrepreneurs, as well as importers, suppliers, and agents—is a complex and powerful entity. He noted that dealing with this power dynamic requires careful consideration.
“If we take everyone together, it will have a greater impact on the market,” Dr. Ahmed said, stressing the importance of allowing businesses to operate freely. However, he also emphasized that the government does not want businesses to make excessive profits and is focused on ensuring the steady supply of essential goods.
He further added, “Today, we have approved the purchase of various goods like fertilizer, soybean oil, rice, and lentils to stabilize prices, particularly the price of soybean oil, which has been causing concern. We are working to maintain a steady supply of daily necessities, such as rice, pulses, chickpeas, oil, and sugar, especially ahead of Ramadan. However, this process will take time as many of these items need to be imported.”
Addressing concerns about the unavailability of soybean oil in the market, Dr. Ahmed explained that a recent price hike had created a gap in the supply. He assured the public that efforts are underway to approve imports of soybean oil to address the shortfall.
When questioned about market monitoring and rising prices, Dr. Ahmed defended the government’s efforts, stating that while it may seem like the market is unregulated, the reality is more complex. “Market monitoring is challenging,” he said. “In some countries, consumers are more aware and report price increases, but in Bangladesh, consumer awareness remains a key issue. We are encouraging the public to become more vigilant.”
The Finance Advisor concluded by urging both consumers and businesses to collaborate for a more balanced market and continued government support for essential goods.
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