No Financial Constraints for Upcoming Election: Economic Adviser Salehuddin

Economic Adviser Dr Salehuddin Ahmed has assured that there is no financial crisis concerning the budgetary allocation for the forthcoming 13th National Parliamentary Election.

Speaking to journalists on Wednesday, 6 August, Dr Ahmed stated:

“Whatever funds are required for the election will be provided. There is no issue regarding this.”

This statement came a day after the Chief Adviser, in a televised national address on Tuesday, announced that the interim government intends to hold the next general election before Ramadan and by February 2026 at the latest.

Comments on Trade Tariff Negotiations with the United States

Dr Salehuddin also addressed ongoing trade discussions with the United States, particularly concerning the reduction of import duties. He revealed that tariffs have already been reduced from 35% to 20%, although he believes a slightly lower rate would have been more beneficial.

“What they (the US) have done is acceptable, but I wouldn’t call it reassuring. The global economic environment is already full of challenges. However, compared to many other countries, Bangladesh is not in a particularly bad position.”

Sectoral Impact of New Tariff Structure

Dr Ahmed highlighted how different sectors may be affected by the new tariff regime. According to him:

• Knitwear and Readymade Garment (RMG) sectors will quickly adapt to the new structure.
• The woven textile sector, however, may face some difficulties.

Prospects of Further Negotiations with the United States

When asked about the potential for future tariff negotiations with the US, the Economic Adviser confirmed ongoing dialogue:

“Yes, I’ve spoken with the Vice President of the US Chamber of Commerce. Their attitude towards Bangladesh is quite positive. They mentioned that since we’ve not withheld payments for investments like Chevron and MetLife, it reflects well on us.”

He further clarified that while no formal agreement has been signed yet, a structured agreement is in the pipeline, which will outline:

• Which products will have reduced tariffs
• Which goods Bangladesh will need to import under the new terms

Nature of Negotiation Process

Dr Salehuddin emphasised the confidential and one-to-one nature of these negotiations:

“In bilateral negotiations, many things cannot be disclosed publicly. These aren’t like multilateral discussions under the WTO or United Nations frameworks. Plus, we’re in competition with countries like Vietnam, China, South Korea, India, and Pakistan. There are some matters that simply cannot be discussed openly.”

Summary Table: Points from Dr Salehuddin Ahmed’s Remarks

Dr Salehuddin concluded by reaffirming the government’s firm and prepared stance in both electoral preparations and economic diplomacy, expressing confidence in Bangladesh’s comparative position in the global economic arena.