Investment must for economic recovery: Dr Titumir

The government has placed investment at the centre of its economic recovery strategy, Adviser to the Prime Minister on Finance and Planning Dr Rashed Al Mahmud Titumir said on Wednesday, outlining a three-phase reform agenda focused on revenue mobilisation, energy security and development expenditure.

Speaking at a post-budget dialogue jointly organised by the Metropolitan Chamber of Commerce and Industry (MCCI) and the Policy Research Institute (PRI) at the MCCI office in Gulshan, Dr Titumir elaborated on the government's strategy underpinning the proposed FY2026-27 budget.

He said the reform programme would be implemented in three stages�"recovery, restoration and reconstruction�"to accelerate economic growth and strengthen macroeconomic stability.

“For the first time in Bangladesh’s history, we have introduced a five-year tax structure,” he said, stressing that policy continuity is crucial for boosting investor confidence and encouraging long-term investment.

Dr Titumir noted that the government had announced a Tk 60,000-crore stimulus and reform package, of which Tk 41,000 crore is linked to the revenue system and Tk 19,000 crore will be channelled through Bangladesh Bank.

On revenue reforms, he said separate task forces are working on income tax, customs and value-added tax (VAT), each operating under monthly action plans with clearly defined milestones. Their progress is being reviewed regularly.

Acknowledging longstanding weaknesses in fiscal data management, he said revenue figures in the past often failed to reflect the actual situation. The government is now working to improve transparency, accuracy and accountability in public financial data.

He emphasised that increasing revenue collection alone would not resolve the country's economic challenges. Pointing to the rapid rise in operating expenditure compared with allocations under the Annual Development Programme (ADP), he described the trend as a major structural concern.