Finance Minister Amir Khosru Mahmud Chowdhury on Thursday said that the government is working to reform the country’s traditional budgetary framework and move toward a more inclusive and modern economic model aimed at ensuring broader participation in economic activities.
“We have attempted to make some changes to the budget model within a short period of time,” he said, adding that the government is seeking to move away from the conventional budget structure and adopt a new orientation in economic planning.
The finance minister made the remarks while addressing a seminar titled “Debate Budget and Beyond”, organised by the Bangladesh Economic Association (BEA) at the Institute of Diploma Engineers in the capital.
Emphasising the concept of the democratisation of the economy, Amir Khosru Mahmud Chowdhury said that Bangladesh’s economy has long been characterised by a patronage-based system, which has left many people outside the mainstream of economic activities.
"Democratisation of the economy means every citizen of Bangladesh will have the opportunity to participate in the economy,” he also said.
The minister noted that the government’s economic initiatives are designed to bring marginalised and traditionally overlooked groups into the development process.
“These include blacksmiths, potters, cottage industry workers, people involved in cultural and sporting activities, and the ultra-poor,” he added.
He said again, "The government is placing special emphasis on creating opportunities for those who have historically remained deprived of the benefits of economic growth.”
The seminar was chaired by Professor Dr Mahbub Ullah, convener of the interim committee of the Bangladesh Economic Association (BEA), while Professor Mohammad Helal Uddin, executive vice chairman of the Microcredit Regulatory Authority (MRA), moderated the discussion.
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