Finance Adviser Dr. Salehuddin Ahmed has categorically stated that loan defaulters will not be allowed to contest in elections, underscoring the need for strict enforcement by the Election Commission to identify such individuals.
He made the remarks on Wednesday during a press briefing held at the Finance Division conference room at the Secretariat, following the launch event of the “UPension” app by the National Pension Authority.
“The Election Commission should identify the loan defaulters,” Dr. Salehuddin said. “But the problem lies in court-issued stay orders. Take the example of Mahiuddin Khan Alamgir—he managed to drag on the issue of defaulted loans for five years.”
Responding to a question about whether the government is taking steps to prevent the use of black money in the upcoming elections, the Finance Adviser said that black money stems from two key factors—source and process.
“The sources have largely been controlled compared to before,” he said. “Earlier, you’d find the same person owning banks, factories, newspapers, and apartments. That kind of monopoly doesn’t exist anymore. Now, there’s at least some degree of check and balance in place.”
Dr. Salehuddin emphasized that sustainable economic development is closely tied to political culture.
“Economic development depends on the political mindset. If politicians promote a culture where nominations or votes are bought with money, then there’s very little I can do from the Ministry of Finance,” he added bluntly.
The Finance Adviser’s comments come at a time when concerns are growing over election financing and the integrity of the upcoming polls. His statement is expected to add further momentum to calls for reform and greater transparency in both financial governance and electoral processes.
The adviser said the government has set a target to bring all public servants under the Universal Pension Scheme introduced in 2023.
He noted that although initially it was stated that the public servants of the country will be brought under the Universal Pension Scheme by July 2025 it was suspended.
“Now it will be done slowly and the target has not been scrapped yet, it has been suspended,” Salehuddin said.
He mentioned the pension system in India where everyone is under one universal pension scheme.
“We will do that gradually,” he added.