Economy in difficult, stagnant state: Khasru

The country’s economy is currently in a “difficult and stagnant” condition, marked by rising poverty, declining investment and shrinking employment opportunities, Finance and Planning Minister Amir Khasru Mahmud Chowdhury said on Friday.
“In a context where poverty is increasing and both investment and employment are declining, structural reforms, a participatory budget and the development of a trust-based capital market will be the top priority of the government,” he said while speaking to journalists at his residence in Chattogram’s Mehedibag area in the afternoon. 
He acknowledged the recent rise in stock market indices but described it as “cosmetic”. According to him, the uptick may reflect investor expectations surrounding a democratic government, but such temporary gains would not be enough to revive the market.
“For lasting change, reforms in laws and the regulatory framework are essential,” he said, adding that the role of the Bangladesh Securities and Exchange Commission (BSEC) will be strengthened to ensure transparency and a zero-compromise policy. 
“The government aims to bring fundamentally strong and profitable companies to the market, attract both local and foreign funds, and restore investor confidence.”
On the upcoming national budget, the minister said, “It will not follow a conventional approach. Instead, it will focus on ensuring a level playing field so that all citizens have equal opportunities to participate in economic activities.”
“Patronage politics will no longer continue,” he said, alleging that special interest groups had long enjoyed benefits at the expense of ordinary people. “The new budget will aim to ensure that the benefits of development reach the broader population while fostering fair competition.” 
Referring to the country’s debt burden and laundered money, Amir Khasru said, “A significant portion of previously borrowed funds had not been used productively and, in some cases, had been misappropriated. As a result, the current government is now facing the responsibility of servicing liabilities tied to assets that do not exist in reality.”
He noted that major debt repayments lie ahead and said efforts are underway at the government-to-government level, alongside support from international professional institutions, to recover siphoned-off funds as much as possible.
On Chattogram’s development, the minister said projects would continue in the normal course, but transparency and effectiveness would be strictly ensured.
He emphasised that to turn Chattogram into a true commercial capital, investment must increase, port operations need further improvement, and more employment opportunities must be created.