Country’s financial situation fragile

The country’s financial situation is fragile, and any further deterioration in the economy will affect everyone, opposition lawmaker Saiful Alam Khan Milon said yesterday.

“The financial sector, particularly the banking sector, is facing many irregularities. The government should tread cautiously,” Milon, also a Jamaat-e-Islami lawmaker, told reporters after a meeting of the Parliamentary Standing Committee on Ministry of Finance.

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According to a parliament secretariat press release, the meeting held discussions on Bank Resolution (Amendment) Bill. After scrutiny and review, the committee recommended that the bill be passed by parliament in an amended form.

The meeting was chaired by committee chairman Mushfiqur Rahman. Finance Minister Amir Khosru Mahmud Chowdhury attended the meeting.

Milon said the meeting’s agenda was limited to the proposal to repeal Section 18(A) of the Bank Resolution Act. “We had already raised this demand in Parliament. We had said then that there was no need to introduce the Bank Resolution Act 2026. We had called for the repeal of Section 18(A), and now the government has brought a proposal to repeal it.”

The provision had drawn criticism inside and outside parliament after it was incorporated into the law concerning bank resolution. Opposition lawmakers had objected to its inclusion on the day the legislation was passed.