Corruption weakened the Economy, says Commerce Adviser Sheikh Bashiruddin

The country‍‍`s economy has suffered greatly due to widespread corruption, which affected all sectors, including banking and infrastructure, said Commerce Adviser Sheikh Bashir Uddin. 

In his remarks, he highlighted the damage done by unnecessary projects and money laundering, both of which severely harmed the nation’s financial stability.

Speaking at the opening session of a two-day conference titled "Recommendations of the Task Force on Restructuring the Economy," held at BRAC Center in Dhaka on Monday, February 24, Sheikh Bashir Uddin commented on the country‍‍`s changing economic situation. 

He acknowledged that the economy had been weakened by these corrupt activities.

“Corruption has spread throughout the economy,” he noted. “Unnecessary projects and money laundering have caused a lot of damage."

Bashir Uddin emphasized the need to focus on diversification in exports and improving labor productivity in order to strengthen the economy.

“Most of our raw materials are imported from abroad,” he said. “We need to increase labor productivity, reduce production costs, and enhance skills to boost exports.”

The conference was chaired by K.A.S. Murshid, former Director-General of the Bangladesh Institute of Development Studies (BIDS) and chairman of the task force that was created to restructure the economic strategy.

Other notable speakers included CPD Chairman Professor Rehman Sobhan, BNP Standing Committee Member and former Commerce Minister Amir Khosru Mahmud Chowdhury, CPD Honorary Fellow Dr. Mostafizur Rahman, and Executive Director Fahmida Khatun.