Finance and Planning Minister Amir Khosru Mahmud Chowdhury has described the country’s economy as being in a “difficult and stagnant” state, citing rising poverty, declining investment and shrinking employment.
Speaking to journalists at his Mehedibagh residence in Chattogram today, he said structural reforms, a participatory budget and a confidence-based capital market would be the government’s key priorities to revive the economy.
Earlier, the minister held a meeting with port users in the presence of Chattogram Port and customs officials.
He said inefficiencies and entrenched interest groups at the port have increased the cost of imports and cargo clearance, contributing to higher commodity prices and rising industrial production costs.
“The burden ultimately falls on ordinary people,” he said, adding that several bottlenecks were identified in a meeting with customs, port authorities and transport stakeholders.
“Some decisions were taken immediately, while inter-ministerial issues are being addressed on a priority basis. During Ramadan, authorities have been instructed to expedite cargo clearance to stabilise supply,” he added.
The minister said the role of the Bangladesh Securities and Exchange Commission would be strengthened to ensure transparency and restore investor confidence by bringing fundamentally strong companies to the market and attracting domestic and foreign funds.
Khosru said the upcoming budget will focus on creating a level playing field and ending patronage politics, ensuring broader participation in economic activities.
“There are mounting pressures of debt repayment. Loans taken for mega projects, in many cases, failed to generate productive returns due to corruption,” he said.
Efforts are underway to recover laundered money through government-to-government initiatives and international cooperation, the minister added.
