Investment in education must deliver results: Finance Minister

Finance and Planning Minister Amir Khosru Mahmud Chowdhury on Friday stressed the need to ensure expected returns from investment in education quality, research and students’ skills development, as policymakers gathered in Savar for the first day of a two-day vice-chancellors’ dialogue on transforming higher education.

Speaking at BRAC CDM in Savar under the Higher Education Acceleration and Transformation (HEAT) project, implemented by the University Grants Commission (UGC), Khosru said the government was working to gradually raise education spending to 5% of GDP in the coming years. “However, increasing allocations alone will not be enough. Their effective and transparent use must also be ensured,” he said.

During a question-and-answer session moderated by UGC Chairman Professor Dr Mamun Ahmed, the minister responded to queries from vice-chancellors on challenges in higher education, research and innovation, university-industry collaboration and graduate employment.

Highlighting the economic value of education, Khosru said universities must inform industries and business organisations of their research capabilities and innovations. “Effective collaboration between universities and industries is essential for sustaining the country’s research and innovation ecosystem. Research should not remain limited to publications. We must ensure that it contributes to national development and people’s welfare,” he said.

He also cautioned against approving universities without planning. “Don’t go for opening universities here, there, and everywhere. When you invest in a university, invest well enough so that the university delivers the purpose for which you are establishing it,” he said, adding, “If you have a university, you have a full-fledged university.”

Speaking at the same interaction, Prime Minister’s Education Adviser Dr Mahdi Amin said Bangladesh could explore on-campus part-time jobs for university students, following practices at universities abroad. He stressed the need for institutional initiatives to improve students’ employment prospects, calling for effective career centres at every university and regular job fairs on campuses.

Elaborating separately at a national policy discussion the same day on transforming higher education, Amin said Bangladesh needed an education system that goes beyond producing certificates and equips students with workforce-ready skills. “This requires necessary changes to the education system,” he said, calling for curricula that reflect students’ real-life needs and highlighting the need to curb brain drain among highly educated youth.

UGC Chairman Mamun Ahmed said higher education institutions and student enrolment had grown significantly in recent years. “However, ensuring the quality of education, enhancing students’ skills and preparing them for employment remain major challenges,” he said, adding that curricula, teaching methods and assessment systems needed change to help more graduates find jobs.

Secondary and Higher Education Division Secretary Abdul Khaleque, former UGC chairman Professor Dr SMA Faiz, National Professor Dr Mahbub Ullah, vice-chancellors of public and private universities, UGC members and other stakeholders attended the sessions.