Finance Minister Amir Khosru Mahmud Chowdhury on Thursday pledged to create one crore jobs in the coming years and roll out far-reaching economic reforms to accelerate growth despite mounting fiscal constraints and global uncertainties.
Speaking at a seminar in Dhaka, the minister expressed confidence that the government would achieve its ambitious employment target even while repaying nearly Tk 125,000 crore in debt, a burden that has substantially narrowed the state's spending capacity.
The seminar, titled "Debating Budget and Beyond", was organised by the Bangladesh Economic Association at the Institution of Diploma Engineers, Bangladesh (IDEB).
Explaining the philosophy behind the proposed budget, Khosru said the government's central objective is the "democratisation of the economy" by integrating marginalised communities into the mainstream of national development.
"We want blacksmiths, potters, cottage industry entrepreneurs, handloom workers, cultural activists and rural women to become active participants in the economy," he said.
A keynote paper was presented by Mohammad Abdur Razzaque, Chairman of Research and Policy Integration for Development (RAPID), while economist Mahbub Ullah chaired the session. Economists Abu Ahmed, Mohammad Nurul Amin and Imran Matin also participated in the panel discussion.
The finance minister revealed that nearly 1,300 development projects inherited from previous administrations have become a heavy burden on the current government. Many, he said, offer questionable value but cannot be abandoned because substantial work has already been completed.
"Many unnecessary projects are already 50 to 60 per cent complete. We can neither cancel them outright nor fully accept them. This is one of the government's biggest challenges," he observed.
While some projects have been dropped following review, many others must continue because of the enormous investments made over the past 15 years, he added.
Khasru also pointed to global headwinds, including the conflict in the Middle East and difficulties in international trade financing, saying these factors have compounded the country's economic challenges.
The minister said the proposed Family Card programme would enhance purchasing power in rural communities and stimulate local economic activity. He also announced plans to introduce a Farmer Card initiative to provide cultivators with direct access to seeds, fertiliser and other essential inputs, reducing their dependence on borrowing.
He noted that the government has already waived around Tk 10,000 crore in agricultural loans.
Healthcare, the creative economy and capital market reforms will also receive priority under the government's broader development strategy, Khasru said. He announced plans to establish a dedicated theatre district in Purbachal to support the commercial expansion of Bangladesh's music, drama and film industries.
To strengthen transparency and accountability in public spending, the government intends to introduce a technology-driven monitoring system featuring digital dashboards at the Prime Minister's Office, ministries and implementing agencies.
"If a project's progress slows or any irregularity occurs, the dashboard will immediately identify it and the responsible officials will be held accountable," he said.
The finance minister further disclosed that several leading international fund managers, including JPMorgan Chase, have expressed strong interest in investing in Bangladesh following the government's reform initiatives.
Expressing optimism about the proposed budget, Khasru said that successful implementation of even 80 per cent of its measures would significantly accelerate economic growth, generate employment and help deliver on the government's electoral commitments.
