Finance Adviser Salehuddin Ahmed said on Wednesday that Bangladesh will engage in negotiations with the United States over retaliatory tariffs, emphasising that efforts will be made to avoid any actions that could escalate tensions.
“There are 90 days to resolve the issue through discussions. If necessary, we will seek an extension,” he said while addressing the 45th meeting of the budget consultative committee, organised by the National Board of Revenue (NBR) and the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) at a city hotel.
The meeting, chaired by NBR Chairman Md Abdur Rahman Khan, saw participation from key stakeholders in both the government and business sectors.
Commerce Adviser Sk Bashir Uddin attended as a special guest, while Bida Executive Chairman Chowdhury Ashik Mahmud Bin Harun was present as the guest of honour.
Regarding the International Monetary Fund (IMF) loan, Salehuddin said: “We are not particularly worried about the IMF loan. The macroeconomic situation has already shown some improvements.”
He pointed out that the era of tax exemptions has come to an end, citing pressure from the IMF and the need to increase revenue.
“There is no room for exemptions. We are under pressure from the IMF. Revenue must rise for the government to operate, and offering exemptions means we will not get taxes from that sector,” he added.
Acknowledging public criticism, the finance adviser said: “We are facing a lot of criticism. But when you work, criticism comes with the territory. We do not take it personally.”
On the upcoming national budget, Salehuddin said: “We will present a realistic budget. There will be no fireworks of unrealistic promises.”
He mentioned that discussions with various international organisations are ongoing to support business and trade growth.
“We are trying to work for the marginal sectors and those chambers that are often overlooked. While we are being criticised, we acknowledge our mistakes. Maybe there will be more. But we are focused on ensuring the common people’s well-being. Businesspeople must show tolerance, as we will. We will work in coordination with you,” he added.
Salehuddin clarified that negotiations are ongoing with the IMF, and conditions have not been fully agreed upon. “We are talking to everyone and working towards a solution,” he said.
FBCCI Administrator Md Hafizur Rahman noted that stakeholders have high expectations from the interim government regarding the next budget, especially given the country's internal challenges and the international economic climate.
"In line with the spirit of the July uprising, FBCCI believes that a business-friendly budget will be formulated for the next fiscal year, considering the global economic situation, LDC graduation, and other related issues. The goal is to restore business confidence through policy support," he said.