United News of Bangladesh

Finance and Planning Minister Amir Khosru Mahmud Chowdhury on Friday pledged sweeping changes to the country’s economy and capital markets, vowing that a 'revolutionary transformation' is on the way. Talking to reporters at Shah Amanat International Airport as he arrived in Chattogram after assuming office, Khosru said the government would move away from patronage-based politics and pursue reforms aimed at restoring confidence in the economy and the stock market. “In the coming days, there will be a revolutionary change in the country’s stock market and economy,” he said. The upcoming national budget would not be a conventional one, signalling a break from past approaches, the minister said. Khosru said the government has worked out multiple plans to recover funds siphoned off abroad and would prioritise economic uplift. Employment generation would remain at the centre of policy efforts, as job creation is currently the country’s 'biggest problem', he said. Khosru emphasised that Chattogram, widely regarded as Bangladesh’s commercial hub, would be developed further as a trade centre through increased investment and modernisation of port operations. "The development of Chattogram means the development of the country,” he said, adding that employment and investment growth would guide policy direction. He said steps would be taken to upgrade port infrastructure and create an investment-friendly environment, with the aim of positioning Chattogram as a regional and international trade centre. Port modernisation, infrastructure development and investment facilitation would receive particular focus. Later, in the day, addressing a meeting of port users at his residence in Mehedibag, the minister said he had instructed relevant authorities to ensure that activities centred around Chittagong Port Authority do not contribute to higher commodity prices, especially during Ramadan. Following the meeting, Khosru told journalists that certain port-related factors were contributing to price increases ultimately borne by consumers. He said the government would identify the causes of rising prices and take corrective measures through inter-ministerial coordination. Finance Minister Amir Khosru unveils ambitious reform plan on day one Participants at the meeting called for port tariffs to be set at a rational level. It was attended by Chattogram Mayor Dr Shahadat Hossain, officials of the Chittagong Port Authority, the Chattogram Customs Commissioner and representatives from various user groups. Khosru reiterated that making the port more dynamic and efficient would be essential to boosting trade, containing costs and supporting broader economic reforms.