Finance Minister Amir Khasru Mahmud Chowdhury on Tuesday said the proposed national budget seeks to address rising poverty, expand economic opportunities for marginalised groups and reduce bureaucratic obstacles to business, despite being prepared under exceptionally difficult circumstances.
"Preparing a national budget within one and a half months of assuming office was almost impossible," he said while speaking at a pre-budget discussion organised by the Economic Reporters' Forum (ERF) at its auditorium, noting that the process normally takes at least six months.
A new chairman and four commissioners will be appointed to the capital market regulator, Bangladesh Securities and Exchange Commission (BSEC), within the next two weeks, Finance Minister Amir Khasru Mahmud Chowdhury said.
The Finance Minister said that the Bangladesh Securities and Exchange Commission is being restructured to restore confidence in the capital market. The chairman and commissioners have been selected on a completely professional basis. No political considerations have played a role here.
Amir Khasru Mahmud Chowdhury said that major positive changes will come to the capital market through the new leadership. Only professionals who truly understand the capital market are being given responsibility. A chairman and four commissioners of BSEC will be appointed. You can see this within the next two weeks.
He said the government inherited a fragile economy marked by declining indicators, weak investment, growing unemployment and rising poverty, but was nonetheless required to present a budget within the constitutional timeframe.
"The economy has reached a level where significant intervention is needed to restore stability and put it back on the path to prosperity," he said, likening the situation to priming a tube well by pouring water into it before groundwater can be drawn.
Responding to criticism over the size of the budget amid economic challenges, Khasru said the government was investing heavily to revive economic activity and rebuild confidence.
He said the budget prioritises low-income and disadvantaged groups who have traditionally been overlooked in national fiscal planning.
Among the key initiatives, he highlighted the expansion of the Family Card programme, under which financial assistance will be transferred directly to women heading households through bank accounts, minimizing opportunities for corruption and political influence.
The minister claimed that a pilot project recorded only a 1-1.5 percent deviation rate and expressed confidence that the programme could achieve near-perfect targeting in future.
He also underscored the government's focus on farmers through the introduction of Farmer Cards, aimed at strengthening food security and improving rural livelihoods.
On healthcare, Khosru said the government is moving towards universal primary healthcare, noting that Bangladeshis spend a disproportionately high share of their own income on medical treatment.
He said the programme would be implemented through partnerships involving the private sector and non-governmental organisations rather than relying solely on government agencies.
The finance minister also announced significant support for what he termed the "creative economy", including artisans, weavers, folk craftsmen, performers, theatre artists and other cultural workers.
Under the initiative, targeted groups will receive skills training, access to finance, design assistance, branding support and opportunities to market products online, drawing inspiration from successful international models such as Thailand's "One Village, One Product" programme.
Khasru said economic growth should not be measured solely through industrial production, arguing that creative industries and cultural activities also contribute significantly to gross domestic product (GDP).
"Our vision is the democratisation of the economy," he said. "Economic participation and the benefits of growth must reach every citizen and every community."
The minister reiterated the government's commitment to strengthening the private sector, describing it as the primary driver of economic growth while positioning the state as a facilitator rather than a regulator.
CPD Executive Director Fahmida Khatun, East Coast Group Chairman Azam J Chowdhury and Bangladesh Textile Mills Association (BTMA) president Showkat Aziz Russell also spoke at the programme as special guests.
ERF president Doulut Akter Mala presided over the discussion and general secretary Abul Kashem conducted it.
