DHAKA, Jan 14, 2024 (BSS) - New Finance Minister Abul Hassan Mahmood Ali has pledged to tackle economic challenges surrounding the country's economy.

"We all know about the challenges centering the country's economy. Now we'll
have to work together to address the challenges," Ali said after taking
office today at the Ministry of Finance at Bangladesh Secretariat here today.

Ali, however, said that it is not possible to solve all the problems
overnight. "Let us work and see and we also need support from the media," he
added.

Asked about his first priority, the new finance minister said efforts to curb
commodity prices would be a top priority during the upcoming Holy Month of
Ramadan.

"I think there is no such solution where everything can be resolved after
taking office a day before. Please give me some time and our team some
time...We'll keep in mind the ensuing month of Ramadan," he said.

In this regard, he noted that the Ministry of Finance in together with the
Ministry of Commerce would work to keep the prices of commodities under
control.

"The Finance Ministry and the Commerce Ministry will have to work together.
None can accomplish such task of controlling price of commodities alone..."
he added.

Replying to another question about his possible steps to bring back the
laundered money back, Ali said it would take some time to frame the strategic
work plan in this regard.

He told another questioner that the Taka has devalued against US Dollar not
only in the country, but also in the neighboring countries. "Please give us
some time, it's not possible to address all things in one day."

Mahmood Ali, who served as the chairman on the parliamentary standing
committee on the Ministry of Finance in the immediate past government, said
that he was trying to understand the problems and issues of the economy and
thus try to address those.

"I will try my level best. Whatever the Prime Minister had given me the
responsibilities, I had delivered those at my best. So, I'm not a man to sit
idle," he said.
Ali, who had previously served the Bangladesh government as foreign minister,
said that upon his appointment as the new finance minister, he has hardly got
any time to think afresh as thousands of people came to him to extend their
unwavering support.

Earlier in the day, the newly-appointed finance minister stepped into his
office.

To keep the new finance minister updated, a joint briefing was prepared by
the ministry's four divisions-- Finance, Financial Institutions, Internal
Resources and Economic Relations.