In response to newspaper reports on 12 trade bodies' criticism about the IMF role in Bangladesh's economic policies, he said: "I saw the report. I think the fears are unfounded."

"I'll resist any attempt by IMF of imposing measures that will affect Bangladesh," visiting IMF Executive Director for South Asia Dr Adarsh Kishore told reporters, after a meeting with Bangladesh Bank Governor Dr Salehuddin Ahmed at his office.

Dr Kishore arrived here earlier in the day on a three-day visit to exchange views on economic management of the country as Bangladesh representative in the IMF executive board.

Kishore told reporters after the meeting with the BB governor that he is here to hear the authorities in Bangladesh and said the country's economic management is on the right track.

"The biggest challenge for Bangladesh is bringing budgetary and fiscal policies in order," he said.

About newspaper reports on 12 trade bodies' criticism about the IMF role in Bangladesh's economic policies, he said Bangladesh is a sovereign country to take decision on its own.

"No," Kishore said, replying to a question whether it is true that the IMF suggestions to raise energy prices and trade liberalisation are to make Bangladesh products uncompetitive at home and abroad.

"We've only given suggestions to the authorities on the trade policies and fiscal policies," he added.

Replying to another question whether the suggestions of raising energy prices simultaneously, if implemented, would put extra price burden on the people, he said: "Welfare of the people must be obliged while imposing any measure."

After his meeting with the finance adviser, the IMF executive said whatever the IMF may suggest, it is for the authorities in Bangladesh to determine the pace, timing and sequence of reform, and the quantity and quality. "The final decision of implementation will be in Dhaka and nowhere else."

Finance Adviser Dr Azizul Islam told reporters that the IMF executive agreed with him that the timing and sequencing of any policy should be on the basis of national importance.

About criticism of the IMF by the trade bodies on its prescription to further liberalise trade, he said the local industry is highly protected as total tax incidence on imports would be more than 49 percent, comprising customs duty, supplementary duty and advance income tax.