Finance and Planning Minister Amir Khosru Mahmud Chowdhury today said Bangladesh\u2019s economy has once again been turned around from a difficult situation, attributing the achievement to the country\u2019s private sector-led growth model.<\/p>\n\n\n\n
\u201cBangladesh has been unfortunate that whenever the BNP comes to power, it inherits the country at a time when the economy is in a devastated condition. The good thing is that we have been able to turn around the economy like in the past, even after taking responsibility during difficult times,\u201d he said.<\/p>\n\n\n\n
The minister made the remarks while addressing a seminar titled \u201cBiannual Economic State in FY2026: Fiscal & Monetary Perspective and Private Sector Expectations\u201d as the chief guest organised by the Dhaka Chamber of Commerce and Industry (DCCI) at its auditorium here today.<\/p>\n\n\n\n
DCCI President Taskeen Ahmed delivered the welcome remarks and presented the keynote paper at the seminar.
Policy Research Institute of Bangladesh (PRI) Chairman Dr Zaidi Sattar, International Chamber of Commerce (ICC) Bangladesh President Mahbubur Rahman, and Power and Participation Research Centre (PPRC) Executive Chairman and Chairman, BRAC Dr Hossain Zillur Rahman addressed the seminar as special guests.<\/p>\n\n\n\n
Managing Director and CEO of Mutual Trust Bank PLC Syed Mahbubur Rahman, Group CEO of Transcom Limited Simeen Rahman, Director General of Bangladesh Institute of Development Studies (BIDS) Dr A K Enamul Haque, and Distinguished Fellow of the Centre for Policy Dialogue (CPD) Professor Mustafizur Rahman took part in the panel discussion.<\/p>\n\n\n\n
The Finance Minister said the private sector growth is one of the founding principles of the BNP\u2019s economic philosophy, with the government\u2019s role being to facilitate private-sector-led economic activities.<\/p>\n\n\n\n
\u201cThe Prime Minister\u2019s economic philosophy is that Bangladesh will have a private-sector-driven economy, where the private sector will drive growth and the public sector will facilitate that process. We are trying to do that together with all of you,\u201d he said.<\/p>\n\n\n\n
Emphasising on attracting more investment, Khosru said there is \u201cno way out\u201d of the current economic challenges without increasing investment.<\/p>\n\n\n\n
\u201cIf there is no investment within the country, foreign investors won\u2019t come. The confidence and incentives needed to attract foreigners won\u2019t be created unless Bangladeshi businesses themselves invest,\u201d he said.<\/p>\n\n\n\n
The minister acknowledged that many obstacles to investment and ease of doing business are deeply rooted and cannot be removed overnight. <\/p>\n\n\n\n
He said the government is working to reduce regulatory barriers and has formed a committee and planned a dedicated website through which businesses can report obstacles they face in implementing deregulation decisions.<\/p>\n\n\n\n
He said the government is also introducing time-bound measures in customs and port operations to reduce the cost of doing business and expedite import clearance.<\/p>\n\n\n\n
\u201cWe are not leaving anything open-ended. Every decision of this government is being given a timeframe,\u201d he said.<\/p>\n\n\n\n
Regarding the energy crisis, Khosru said the government inherited a difficult situation and cannot resolve the electricity and gas shortages within a day. Negotiations are underway for two or more floating storage and regasification units (FSRUs), while work is also progressing to increase gas reserves.<\/p>\n\n\n\n
He said the government had inherited energy reserves of barely 15-17 days, which have now been increased to around one month, with a target of building reserves equivalent to three months.<\/p>\n\n\n\n
\u201cThe energy crisis will improve slowly. It will improve, but slowly. I know the industry is suffering because of this,\u201d he said.<\/p>\n\n\n\n
On banking sector reforms, the finance minister said the government has introduced a package for businesses affected by circumstances beyond their control, including rescheduling facilities, grace periods and exit options for those wishing to leave businesses.<\/p>\n\n\n\n
He also mentioned that a Tk 60,000-crore financing package for small and medium enterprises, saying political influence would not be allowed in the disbursement of loans.<\/p>\n\n\n\n
\u201cThose who fulfil the criteria will receive the loans. There will be no political influence in giving loans,\u201d he said.<\/p>\n\n\n\n
Khosru said the government is also working to bring artisans, cottage industries, sports, entertainment, theatre, music and other creative sectors into the mainstream economy under its concept of \u201cdemocratisation of the economy.\u201d<\/p>\n\n\n\n
He said support would include credit, skills development, design, branding and marketing facilities, including opportunities to sell products globally through online platforms.<\/p>\n\n\n\n
The minister also stressed the need to raise the tax-GDP ratio to expand the government\u2019s fiscal space for welfare, infrastructure, business support and subsidies.<\/p>\n\n\n\n
He said the government is pursuing automation across taxation and port systems to reduce physical contact, increase transparency and curb corruption.<\/p>\n\n\n\n
On alternative financing, Khosru said the government is working to revive the capital market and attract global fund managers. He said Bangladesh is also preparing to issue dollar bonds and explore other financing instruments to reduce pressure on bank financing.<\/p>\n\n\n\n
Regarding renewable energy, he said solar power is currently the fastest option for expanding Bangladesh\u2019s energy supply and the government has set ambitious targets for solar generation. The government is also exploring coal and nuclear power while seeking to reduce dependence on imported energy.<\/p>\n\n\n\n
Khosru said the government is reviewing the work of the Bangladesh Bureau of Statistics (BBS) to improve the credibility of economic data.<\/p>\n\n\n\n
The finance minister thanked DCCI for organising the seminar, saying such engagement provides the government with a \u201cconstant reminder\u201d of issues that may otherwise remain outside the government\u2019s system.<\/p>\n\n\n\n
\u201cI can\u2019t do anything alone. The finance minister can\u2019t do anything alone, and the government can\u2019t do anything alone. I believe in partnership and teamwork. Without that, progress will not be possible,\u201d he said.<\/p>\n\n\n\n
He urged the private sector to remain engaged with the government in addressing economic challenges and implementing reforms.<\/p>\n","protected":false},"excerpt":{"rendered":"
Finance and Planning Minister Amir Khosru Mahmud Chowdhury today said Bangladesh\u2019s economy has once again been turned around from a difficult situation, attributing the achievement to the country\u2019s private sector-led growth model. \u201cBangladesh has been unfortunate that whenever the BNP comes to power, it inherits the country at a time when the economy is in […]<\/p>\n","protected":false},"author":6,"featured_media":36368,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,93],"tags":[49],"class_list":["post-36367","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bangladesh","category-nationwide","tag-49"],"yoast_head":"\n