Dhaka: Finance Adviser Dr Salehuddin Ahmed on Tuesday announced that the government of Bangladesh has devised a long-term energy strategy to address the critical challenge of fuel security, which is vital for the nation’s economy. He emphasized the importance of a secure energy supply for the power and energy sectors during discussions with reporters after meetings of the Advisers Council Committee on Public Purchase and the Advisers Council Committee on Economic Affairs at the Secretariat.

According to United News of Bangladesh, Dr Salehuddin highlighted the comprehensive approach taken by the government, which incorporates offshore drilling initiatives and the utilization of domestic coal resources. These efforts have been integrated into a unified framework to ensure a stable energy supply. He acknowledged, however, that while progress has been made, there are still expectations that remain unmet due to procedural and coordination challenges, as well as the availability of skilled manpower and commitment.

Dr Salehuddin also addressed a recent report by Transparency International Bangladesh, which suggested that advisers wield more influence than formal institutions. He dismissed these claims as commonplace narratives, emphasizing the complexities and constraints faced by the government. He further commented on reports of reluctance by countries such as Iran and Nepal to engage economically with Bangladesh, asserting the country’s stable economic position and positive perception internationally, particularly in Sustainable Development Goals (SDG) financing.

Concerning the issue of high inflation, Dr Salehuddin pointed out that it cannot be solely attributed to supply and demand or resolved by merely adjusting the policy rate. He stressed the significance of supply-side issues, market dynamics, and governance in managing inflation, stating that price control requires more than just regulatory inspections.