Commerce Minister Khandakar Abdul Muktadir has highlighted the urgent need for strengthening debt management and expanding the tax net as key priorities to navigate Bangladesh’s current economic challenges.
Speaking as a special guest at the closing session of the seminar “National Multistakeholder Consultation on Bangladesh Graduation Readiness Assessment” at the NEC Conference Room of the Planning Commission on Sunday, the minister underscored that the government is committed to taking effective measures to meet public expectations and stabilise the economy.
Khandakar Abdul Muktadir noted that Bangladesh is facing a complex economic situation, partly due to large projects undertaken in the past without sufficient planning or preparation.
He stressed the importance of managing existing loans prudently and ensuring that future projects are realistic, cost-effective, and well-implemented to maintain sustainable development.
“Loans already taken must be managed properly, and greater caution is needed for new projects. Selecting effective and realistic initiatives is vital for continuity in development,” he said.
On the tax front, the minister pointed out that Bangladesh’s tax-to-GDP ratio remains low, and urged efforts to expand the tax net rather than raising rates.
“A significant portion of our economy is still outside the tax framework. We must increase revenue by bringing more people under the tax net rather than increasing rates,” he added.
He also emphasised boosting domestic resource mobilisation to ensure the country can repay debts while sustaining development activities.
The event was chaired by Economic Relations Division Secretary Md Shahriar Kader Siddiky, with participation from UN Under-Secretary-General and Senior Representative of UN-OHRLLS Rabab Fatima, State Minister for Planning Zonayed Abdur Rahim Saki, and representatives from other relevant sectors.
