Finance Adviser urges balanced reporting on sensitive policy issues

“Negative reporting makes our work more difficult. Journalists often portray a half-full glass as empty,” he said while speaking as the chief guest at the ERF-SME Foundation Media Award ceremony at the Economic Reporters' Forum (ERF) office in the capital.

The adviser pointed to recent media reports on the National Board of Revenue (NBR) reform which he said forced the government to provide clarifications to the World Bank and the International Monetary Fund (IMF).

“Some reports claimed that the government postponed NBR reforms due to internal opposition. Consequently, the IMF demanded a written assurance that the reform will proceed. I had to send a formal explanation,” he said.

On budget size, he said excessive spending by the previous government prompted efforts to curb waste. “This is why the current budget is smaller.”

Focusing on the SME sector, the adviser emphasised its critical role in employment generation and economic resilience.

“The backbone of our economy remains the SME sector. It generates the highest employment and holds immense future potential. However, its contribution to GDP is only 26%, whereas in many countries it goes up to 60%,” he noted.

Dr Salehuddin called for greater access to finance, improved technology integration, and stronger global market linkages for SMEs.

“Bankers don’t prioritise SMEs. They prefer issuing large loans without accountability. This attitude must change,” he said.

He proposed enhancing Bangladesh Bank’s refinance scheme and suggested SME subsidies like those offered in energy.

“A digital database for SMEs is crucial. If needed, the finance ministry will fund it,” he added.

He recommended that the SME Foundation follow PKSF’s model to boost capacity and attract donor funding. “Transparent financial management is essential. No compromise can be made,” he warned.

The event awarded 21 journalists for their reporting on SMEs.

SME Foundation Chairperson Mushfiqur Rahman highlighted the foundation’s limited capacity, noting that only 11,000 of the country’s 11.8 million SME entrepreneurs have received financing so far despite a recovery rate above 99%.

Managing Director Anwar Hossain Chowdhury said the foundation received Tk 500 crore in funding since 2006 and stressed the need for a permanent office, incubation centers, and exhibition spaces to support SME growth.

The event was conducted by ERF General Secretary Abul Kashem.

ERF President Doulat Akter Mala and Foundation GM Md. Jahangir Hossain also spoke, reports UNB.