Addressing a discussion on immediate challenges for the caretaker government, the finance adviser also said he is in favour of scrapping the provision of whitening black money through investing in property in the coming budget.

"I will take up the matter in the council of advisers' meeting -- whether budgetary provision of whitening black money to be continued. But my personal opinion is that this provision should be scrapped in the coming budget," he said.

The finance adviser was addressing the discussion titled 'Immediate Economic Challenges for the Caretaker Government'. Organised by Economic Reporters' Forum (ERF) at the Dhaka Reporters' Unity, the discussion was also addressed by economist Prof Wahiduddin Mahmud and President of International Chamber of Commerce -- Bangladesh (ICC-B) Mahbubur Rahman.

On the competition law, Mirza Azizul Islam said the government has initiated steps to increase competition in the local market and define to what extent stocks of goods would not be considered as hoarding.

Aziz said he has already asked the commerce secretary to identify the most essential products, their price escalation over a certain period of time and the reasons behind the price hike.

"It will be clear after the analysis to what extent the prices can go up rationally and if there is any unexplained part of the analysis the government will consider there might be some fraudulent practices in the market," he said.

The adviser said sometimes officials, economists and journalists make sweeping remarks on the market situation without analysing the factors behind price hike of essentials.

The adviser reiterated that the main purpose of the caretaker government is to create a field for a free, fair, neutral and credible election.

"For such a field, we need some time to take some steps. If we hold the election in the next three or four months we will not be able to guarantee a free and fair election," he said.

The adviser said they are working to stop influence of muscle power in politics and elections.

"We also want to keep the election free from loan defaulters, tax evaders and smugglers," he said.

Asked about the limitations of a caretaker government, the adviser said the constitution empowers the caretaker government to take necessary policy-making decisions for economic growth.

"We have yet to take any policy-making decision till date. What we are doing is just continuity of previous governments' decisions," he said adding that if necessary and situation demands, the interim government would take policymaking decisions too.

Turning to the current economic situation, Aziz said the macroeconomic situation is not so worrying as wage earners' remittances and exports have remained encouraging.

The foreign aid declined due to political unrest in the last few months, he said, adding that the government is now trying to bring the donors back to review the country's economic situation.

Replying to a query, he said the government shares of some companies would be offloaded in the capital market in the next 3-4 months.

He also took note of the possible adverse effects of empowering magistrates to freeze or confiscate money or property in 72 hours' notice and said he would take up the issue with the chief adviser and his colleagues in the council of advisers.

On the debate of taking policymaking decisions, Professor Wahiduddin Mahmud said it is assumed that the present caretaker government will be in office for more than three months and for the sake of economic growth they will have to take some policymaking decisions.

He suggested the government to start work for some long-term projects in the sector like power.

The leading economist warned the government about adverse effects of eviction drives against small, poor and medium entrepreneurs in the rural areas.

Mahbubur Rahman said the wholesale drives against hoarding will hamper revenue collection and jeopardise the market situation.

"Genuine businessmen will be discouraged in importing goods in fear of hoarding drives that will result in low import revenue," he said, adding that it will also hamper supply of essentials in the market.

ERF President Zakaria Kajol welcomed the guests at the discussion and General Secretary Nazmul Ahsan gave vote of thanks.