Finance Minister AMA Muhith has announced that he will retire from politics after the tenure of the incumbent government expires.

He was talking to reporters at his Secretariat office yesterday after a dividend handover ceremony of the Securities and Exchange Commission.

The 85-year-old minister has also advised other aged politicians to retire. "The problem in our country is that nobody wants to resign. I want to set a new tradition."

He mentioned, "I have submitted my nomination paper to the party just as a dummy candidate."

Asked about the reason, the veteran politician said, "Because I am not contesting [the next elections]."

Replying to the query if he was sure about the decision to retire, he said, "Absolutely certain. It will be known in a day or two."

On the PM's opinion about it, he said, "Well, whatever I am doing, it has the approval of the prime minister."

Pointing to his experience of holding important positions in the public service since 1963, he said few persons have such vast experience, but he should retire now. Other politicians should also understand that there is a time to stop.

Mentioning politicians senior to him like former presidents HM Ershad and AQM Badruddoza Chowdhury, the finance minister said they want to take a last chance (in politics).

He added, "It is their wish. I don't have such a wish."

Muhith, who has been at the helm of the finance ministry for the last 10 years, on several occasions in the last one year said he would retire from politics but changed his mind.

Asked how he would evaluate his terms, he said, "I tell you, you see the performance of the government is outstanding. I am, of course, a party to it."

When the reporters asked if he had any failure in the banking sector, Muhith said, "I have said many times that there is problem in the banking sector. I will leave a roadmap for the banking sector for the next government."

He further said he would prepare the roadmap this month.

Replying to another query about Jatiya Oikyafront and its participation in the election, the minister said it is a political success.

Its impact would be on many spheres including economic development, he said, adding, the country is in a good political situation now as all parties are contesting the polls.

He said being elected uncontested is something that saddens, not pleases, adding, "Uncontested election is not really a pleasure… it's a kind of sorrow."