Interim Government Failing to Curb Extortion: Economic Adviser

Economic Adviser Dr Salehuddin Ahmed has remarked that incidents of extortion have risen significantly since 5 August last year, and that the interim government has failed to control the problem.

Speaking with journalists in his office at the Ministry of Finance on Tuesday (30 September), Dr Ahmed stressed that tackling extortion requires strong political commitment and a fully functioning political government.

He explained:

• “Previously, if one unit of extortion was collected, now it has increased to one-and-a-half or even two units.”
• “Since 5 August, several new groups have become involved in extortion, while those who were previously engaged continue their activities.”
• “Ironically, many of the extortionists are themselves members of trade organisations.”

Dr Ahmed highlighted that extortion is directly driving up commodity prices, worsening the cost-of-living crisis for ordinary citizens.

He clarified, however, that: “It is not the responsibility of my ministry to stop extortion. Moreover, the interim government does not operate under a policy of selective crackdowns (‘catch one, leave another’).”

Despite these challenges, the adviser expressed cautious optimism regarding inflation:

Dr Ahmed concluded by saying he expects inflation to ease by June next year, providing some relief to the economy if proper measures are taken.