United News of Bangladesh

Finance Minister Amir Khosru Mahmud Chowdhury on Monday said the FY 27 ADP reflected the electoral commitments and long-term reform agenda of the newly elected government. “It is a reform-oriented and ambitious investment plan aimed at steering Bangladesh from a fragile economy towards prosperity, he said briefing reporters after the National Economic Council (NEC) meeting chaired by Prime Minister Tarique Rahman. The NEC meeting approved an Annual Development Programme (ADP) worth Tk 3 lakh crore for the 2026-27 fiscal year. This is a very important NEC meeting from many perspectives, he said. “After a long time, an elected government in Bangladesh is going to present a budget and a development plan. The proposed framework reflects our election manifesto and overall development vision.” He said the government’s strategy was centred on recovery, transition and reconstruction from what he termed a fragile economic condition inherited from the past. As part of that effort, the government has prepared a five-year roadmap titled “Five-Year Strategic Framework for Reform and Development,” which outlines priorities for economic recovery, institutional reform and sustainable development. The Finance Minister said the first pillar of the framework focuses on reforming state institutions, expanding judicial and legal services, administrative digitalisation, strengthening law enforcement agencies and modernising public investment management. He also announced plans to introduce a multi-year public programme management system. Khosru said the proposed ADP for FY2026-27 was not limited to infrastructure development but also aimed at establishing a non-discriminatory society, a sustainable economy and balanced regional development. According to the proposal, the total size of the ADP has been set at Tk 3 lakh crore, of which Tk 1.90 lakh crore will come from the government’s own resources, while Tk 1.1.10 lakh crore will be financed through project loans and grants. He said the larger ADP size compared to the current fiscal year reflected the government’s confidence in improving implementation efficiency under an elected administration. “We believe an elected government will have greater implementation capacity and efficiency,” he said. The minister also announced stricter criteria for appointing Project Directors (PDs), saying the government wanted to eliminate politically influenced or incompetent appointments that had contributed to corruption and delays in project implementation in the past. “There will now be clear criteria for appointing Project Directors. Only those who fulfil the criteria will be eligible,” he said. He said the government would closely monitor all development projects through ministry-based dashboards tracking real-time progress. Ministries would be required to monitor delays and take immediate corrective measures where implementation lagged behind schedule. Khosru said around 1,300 ongoing projects inherited from previous governments including Awami League(now facing ban on its activities) and Professor Yunus-led interim government are currently under review. He alleged that many of those projects were driven by corruption, inefficiency or political considerations rather than public interest. “Projects that are not viable or no longer necessary will be dropped,” he said. “For projects that have progressed significantly, further reviews will determine whether completing them would benefit the country and its people.” The Finance Minister stressed that all future projects must be completed within the stipulated timeframe and warned that there would be no scope for repeated deadline extensions. He added that the Implementation Monitoring and Evaluation Division (IMED) would investigate projects affected by corruption or serious mismanagement and recommend action against those responsible. Responding to questions over the large allocation under block grants and social protection schemes, Khosru said the government had kept substantial allocations aside because many existing projects were likely to be cancelled after review. The funds would later be redirected to new and priority projects based on necessity and public benefit, he said. He defended separate welfare cards for different groups, including farmers and families, saying targeted benefits required separate identification systems. “The beneficiaries of farmer cards and family cards are not necessarily the same. These are targeted support mechanisms and must remain separate,” he said. The Finance Minister said all future projects would be evaluated on the basis of “value for money,” return on investment and employment generation. “We do not want jobless growth,” he said. “Every project must contribute to employment and economic productivity.” He also emphasised climate considerations in development planning. Replying to a question about the government’s ability to implement such a large ADP amid weak revenue collection, Khosru acknowledged that Bangladesh’s tax-GDP ratio remained among the lowest in the world. He said the government is preparing a major reform programme for the National Board of Revenue (NBR) to expand the tax network and bring more people into the formal tax system. “For years, the same taxpayers have carried the burden while the tax net remained narrow,” he said. “We are going to expand the network significantly.” The minister expressed optimism that improved governance, leadership and investor confidence would support economic recovery and higher investment flows. He claimed that several international investors and fund managers had recently shown interest in Bangladesh because of the government’s reform agenda and leadership commitment. Referring to implementation concerns in the health and education sectors, Khosru said the government planned to significantly expand technical and vocational education institutions with internationally recognised accreditation and certification systems. He said investments in healthcare, education and skills development were essential to achieving universal healthcare, boosting employment and strengthening export competitiveness. When asked whether the ambitious ADP posed a financial risk given the country’s economic constraints, Khosru defended the decision by comparing the economy to a tube well that requires water to be poured in before it starts flowing again. “This fragile economy cannot recover without investment,” he said. “That is why we are going for a large development budget.”  

Finance and Planning Minister Amir Khosru Mahmud Chowdhury on Tuesday said the country’s financial sector would operate independently, assuring that there would be no political interference in investment and loan allocations.  “The government will not interfere in the financial sector. There will be no political meddling in the investments. This is a clear and firm decision from the government and the Prime Minister,” the Minister said while speaking as the chief guest at the launch of the inaugural fund of the Bangladesh Startup Investment Company (BSIC) at a city hotel. Marking a historic shift in the country's entrepreneurial landscape, 39 commercial banks have jointly launched BSIC, Bangladesh’s first institutionally managed venture capital platform. With an initial capital of Tk 425 crore, the platform aims to reduce the startup ecosystem's heavy reliance on foreign funding. Minister Amir Khosru said Bangladesh is entering a new stage of economic transformation where productivity, technology, and private-sector innovation will be the primary growth drivers. “BSIC reflects our confidence in the potential of young entrepreneurs to build globally competitive institutions,” he added. Bangladesh Bank Governor Md. Mostaqur Rahman emphasised that the next phase of development requires institutions that uphold discipline, transparency, and accountability. From July, all business establishments must implement Bangla QR code for transactions to boost digital inclusion. In addition to the banks' initial Tk 425 crore investment, Bangladesh Bank will provide an additional Tk 500 crore as a refinancing fund for venture capital. The fund was formed by banks contributing 1 percent of their net profits from the last five years. This will be a continuous investment cycle covering Seed, Late Seed, and Series-A rounds. BSIC Chairman and Managing Director of City Bank PLC, Mashrur Arefin, said while Bangladesh’s startup sector has raised over $1 billion since 2010 through 450+ deals, less than 7 percent of that capital came from domestic sources. “BSIC is not just a fund; it is an institutional platform bridging local trust with global venture standards,” Arefin said, adding that the facility will extend beyond tech startups to include small and medium enterprises (SMEs). The event saw participation from high-profile international venture capital firms, including Wavemaker Partners (Singapore), 500 Global, ADB Ventures, and Sturgeon Capital, among others.  To ensure global standards, Sami Ahmed, former General Partner at B Capital, has been appointed as an advisor to the BSIC board. BSIC announced that it aims to complete its first three investments before the end of 2026. The company plans to appoint a Managing Director and a Chief Investment Officer by the third quarter of this year to streamline its investment committee. Experts believe this organised entry of domestic banks into the venture capital space will strengthen corporate governance and make local startups more attractive to foreign partners.

Finance Minister Amir Khosru Mahmud Chowdhury on Tuesday told Parliament that Bangladesh’s foreign debt stood at around $78 billion as of February 2026. “According to the account up to February, 2026, the foreign debt of the Bangladesh government amounts to $78,067.20 million,” he said while replying to a starred question from independent lawmaker Rumeen Farhana (Brahmanbaria-2). Earlier, the Tuesday’s sitting of parliament started at 3:00 pm with Speaker Hafiz Uddin Ahmad, Bir Bikram, in the chair. The finance minister said the Economic Relations Division (ERD) repays foreign loans on behalf of the government. Each fiscal year, a projection is prepared to estimate the total expenditure for servicing foreign debt including both principal and interest, and necessary allocations are kept in the national budget. Loan repayments are being made from the budgetary allocation throughout the year following a scheduled plan. In reply to a scripted question from treasury bench member Md Shamsur Rahman Simul Biswas (Pabna-5), Khosru said that the government received a total of $85,992.64 million (nearly $86 billion) in foreign loans from 2008–09 fiscal year to 2025–26 fiscal year. During the same period, the government repaid $22,328.47 million in principal and $8,696.82 million in interest, he said. As of December 30, 2025, the foreign debt stood at $77,279.12 million ($77 billion), said Amir Khosru. He told the House that from the 2007–08 fiscal year to February of 2025–26, the government borrowed a total of $87,396.03 million and repaid $22,050.79 million in principal. “As a result, the country’s foreign debt amount increased by $65,346.24 million during this period,” the minister added.

Finance Minister Amir Khosru Mahmud Chowdhury on Monday told Parliament that the government has taken initiatives to import fuel oil and LNG from alternative sources to ensure energy security in the context of the ongoing Middle East war. “In the context of the Middle East war, the government has taken initiatives to import fuel oil and LNG from alternative sources to ensure energy security,” he said, while replying to a tabled question from treasury bench lawmaker Joynal Abdin (Feni-2) in the House. The finance minister said the government has taken a series of comprehensive measures to strengthen and make the country’s fragile economy more stable and dynamic in the face of global recessionary pressure caused by the ongoing global instability. He said the present government assumed office facing multiple economic challenges, including global instability, rising commodity prices, pressure on foreign transactions, weaknesses in the banking sector and various economic irregularities created in the past. “In the context of excessive increase in fuel prices in the international market, the government has taken various initiatives to save energy, including budget support from development partners, with additional financing,” he said. The Minister said the government is prioritizing strengthening the economic foundation, reducing public sufferings, increasing investment and employment, restoring discipline in the banking sector, and ensuring transparency and accountability in public financial management. He also raised a number of key measures taken and underway to make the fragile economy as a strong and vibrant one. Trillion-dollar economy by 2034 Replying to a scripted question from ruling party lawmaker S M Jahangir Hossain (Dhaka-18), the finance minister said that the country’s per capita income stood at $2,769 in the 2024–25 fiscal year, according to the latest data from the Bangladesh Bureau of Statistics. “One of the key goals of the current government is to achieve a trillion-dollar economy by 2034. To this end, the government has formulated action plans focusing on investment, employment, economic democratisation, creative economy and sports economy,” he said.  To increase per capita income, the government is simultaneously working with importance on all fronts including employment generation, investment, production, exports, remittance inflows, skill development, social protection and overall macroeconomic stability, said Amir Khosru.

Defaulted loans in Bangladesh’s banking sector stood at Tk 5.45 lakh crore at the end of 2025, Finance Minister Amir Khosru Mahmud Chowdhury told Parliament on Monday. “As of December 31, 2025, the total amount of defaulted loans in the banking sector is Tk 5,44,831 crore,” he said replying to a tabled question from NCP lawmaker Md Abul Hasnat who is popularly known as Hasnat Abdulla (Cumilla-4). The parliament session resumed at 3:30 pm with Deputy Speaker Barrister Kayser Kamal in the chair. The Minister also placed the list of top 20 loan defaulters in the House.   The 20 top loan defaulters are S. Alam Super Edible Oil Limited, S. Alam Vegetable Oil Limited, S. Alam Refined Suger Industries Limited, S. Alam Cold Rolled Steels Limited, Sonali Traders, Bangladesh Export Import Company Ltd, Global Trading Corporation Limited, Chemon Ispat Limited, S. Alam Trading Company Private Ltd, Infinite CR Strips Industries Limited, Keya Cosmetics Limited, Deshbandhu Sugar Mills Limited, Power Pac Mutiara Keranigonj Power Plant Ltd, Power Pac Mutiara Jamalpur Power Plant Ltd, Pacific Bangladesh Telecom Limited, Karnafuly Foods (Pvt.) Limited, Murad Enterprise, CLC Power Company Limited, Beximco Communications Limited, and Rongdhanu Builders (Pvt) Ltd. Highlighting government efforts to recover defaulted loans, the finance minister said banks with more than 10 percent classified loans will be reviewed quarterly and action plans will be adopted to identify and address obstacles to loan recovery. He said progress in recovering dues from the top 20 defaulters will be monitored at each bankers’ meeting organised by Bangladesh Bank and guidelines will be formulated for banks with high levels of classified loans. “Banks have been instructed to strengthen the existing legal team/law department of the bank,” said the minister. He said banks have been instructed to set a target of cash recovery of at least 1% of the defaulted loan balance of each bank by June 30, 2026 following Alternative Dispute Resolution (ADR). The finance minister said an action plan has also been adopted to resolve the problem of non-performing loans.  According to the action plan, Bangladesh Bank is currently working to amend the existing laws including Bank Company Act, Negotiable Instrument Act, Orthro Rin Adalat Ain and Bankruptcy Act to resolve the problem of non-performing loans. Other proposed measures include reviewing agricultural loan rescheduling policies, publishing lists of defaulters and wilful defaulters, strengthening incentives for regular borrowers, identifying good borrowers to promote a stronger credit culture, and setting borrowing limits across the banking sector, said the minister. Further steps include legal reforms to deal with wilful defaulters involving experienced bankers in money loan courts, preventing misuse of writ petitions to delay recovery, and enacting laws to establish private-sector Asset Management Companies (AMCs), he added. The minister also informed the House that loans taken from banks and financial institutions by members of parliament and their related entities amount to Tk 11,117.31 crore.  

Finance and Planning Minister Amir Khosru Mahmud Chowdhury has been admitted to a city hospital after he fell ill. “Sir (Khosru) felt unwell yesterday (Saturday) and was admitted to United Hospital in Gulshan,” his personal assistant Shahiduzzaman said on Sunday. He said Khosru’s condition has improved and he is feeling much better today (Sunday). “Sir is now under close observation by doctors,” Shahid said. Amir Khosru Mahmud Chowdhury, a member of the BNP Standing Committee, was elected from the Chattogram-11 constituency in the 13th parliamentary election. He was sworn in as a cabinet member of Prime Minister Tarique Rahman on February 17.

Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has urged the government to expedite the disbursement of Tk 5,700 crore in cash incentives for the ready-made garment (RMG) sector. The call came during a meeting with Finance Minister Amir Khosru Mahmud Chowdhury at the Secretariat on Wednesday, a delegation member, led by BGMEA President Mahmud Hasan Khan, said on Thursday. BGMEA described the ‘fragile state’ of the industry, highlighting stalled incentives, working capital shortages, and hurdles to ease of doing business. Khan said the cash incentives for FY2025-26 remain trapped in audit procedures by lien banks and Bangladesh Bank, leaving many factories in severe liquidity stress. He urged a shift from the quarterly release system to immediate disbursement upon application. The Finance Minister acknowledged the demand’s validity and pledged to modernize and streamline the process for quicker fund release. BGMEA Vice President Md. Shihab Uddoja Chowdhury raised concerns over loan rescheduling, noting that while banks reschedule loans to manage non-performing loan ratios, they often fail to provide the working capital necessary to keep factories operational. He proposed a ‘win-win’ approach where banks supply working capital alongside rescheduling. The minister expressed support for the idea. Describing the garment industry as the ‘backbone of the economy’, Amir Khosru asked BGMEA to submit a detailed list of obstacles and recommendations within a week and assured full policy support for sustainable sector growth. The delegation included Senior Vice President Enamul Huq Khan, Vice President (Finance) Mizanur Rahman, Vice Presidents Vidya Amrit Khan and Md. Shihab Uddoja Chowdhury, and several board directors.

Finance Minister Amir Khosru Mahmud Chowdhury on Wednesday said the change in the governorship of Bangladesh Bank was part of a broader administrative reshuffle undertaken by the new government to implement its priorities and policy agenda. “Changes have not taken place in Bangladesh Bank only; they have occurred in many places also,” he told reporters at the Secretariat in response to a question regarding the replacement of the central bank governor. Economy suffering from ‘overregulation’, says Amir Khosru “After assuming office, a new government has its own priorities and programmes. Changes are being made where necessary to realise those priorities. This is a normal process,” he said. Responding to a query about the considerations behind the governor’s removal, the minister said there was nothing unusual about the decision. “A new government has come in with its own preferences and policy thinking. Naturally, adjustments will be made in different institutions to align with its programmes,” he said, adding that such changes are neither isolated nor exceptional. “It is not only Bangladesh Bank where changes have been made. Many other places have seen changes, and more may follow if required. This is very normal in the context of a new administration,” he said. Development benefits must reach people’s doorsteps: Khosru The minister emphasised that the government’s own programme, preferences and policy orientation would guide administrative decisions. “Wherever necessary to implement the government’s programme and thinking, changes will be brought.” Earlier, the government removed Ahsan H Mansur from the post of governor of Bangladesh Bank and appointed Md Mostakur Rahman as the new governor. The change comes as the government reiterates its commitment to pursuing its economic agenda in coordination with key financial institutions.

Finance Minister Amir Khosru Mahmud Chowdhury on Wednesday said Bangladesh’s economic policy must be people-centred and inclusive, stressing the need to create equal opportunities for citizens from all walks of life to participate in economic activities. He made the remarks while speaking at a reception ceremony for newly appointed ministerial colleagues at the conference room of the ministry. The finance minister said the country must build an economy where participation from every segment of society is ensured, as broader engagement would help bring meaningful changes to the overall economic landscape. Finance Minister Amir Khosru unveils ambitious reform plan on day one “A level playing field must exist in the economy so that every citizen has the opportunity to contribute and benefit from growth,” he said. Referring to the changing public mindset after August 5, he said economic policies and activities must align with the evolving expectations of people. As a first step, he emphasised the need to address the poor condition of state institutions. “Our priority should be to recover institutions and strengthen them,” he said. He said that professionalism, transparency and efficiency must be restored across public bodies to ensure effective governance and sustainable economic progress. The minister also underscored the need to move away from a patronage-based economic model towards a more democratic and participatory one. To achieve this, he called for deregulation and liberalisation, alongside efforts to diversify the economy beyond a narrow dependence on manufacturing. Economy suffering from ‘overregulation’, says Amir Khosru He said sectors such as sports, culture and other professions should be integrated into economic planning to create wider opportunities and generate new sources of income. Giving an example, he referred to the traditional ‘shital pati’ (woven mat) produced in Barishal, which usually sells for Tk600 to Tk700. If artisans are provided with training, access to credit and online marketing facilities, they could develop new designs and produce a variety of products, potentially creating a large market and boosting their incomes, he noted. At the event, Khasru said the country’s economic framework should be developed in line with the 31-point programme of Prime Minister Tarique Rahman, calling for the establishment of a democratic economic system that ensures fairness and inclusivity. The finance minister sought cooperation from officials at all levels to move the country’s economy forward and implement reforms effectively. Among others present at the programme were Bangladesh Bank Governor Ahsan H Mansur and Finance Division Secretary Dr Khairuzzaman Mozumder, and secretaries and senior officials from various divisions of the Ministry of Finance.

Finance Minister Abul Hasan Mahmud Ali on Wednesday expressed hope that the current pressure of inflation will ease to a bearable level by the end of the current financial year. The finance minister expressed this hope while presenting the budget implementation progress report for the first quarter ((July-September) of the fiscal year 2023-2024 in the Parliament. By the end of the current financial year, the expatriate income will also increase and the foreign exchange reserves will quickly return to their previous strong position, the finance minister said. 5.33 lakh vacancies in govt departments: Minister Abul Hasan Mahmud Ali said that the country is experiencing significant inflationary pressure due to the increase in the prices of various daily necessities including energy in the international market and the rapid change in foreign exchange rates. However, the current inflationary pressure is expected to come down to a bearable level by the end of the current fiscal year, he said. The minister said that the government has taken various initiatives to control inflation. Gazette notification on Tangail Saree being Bangladeshi GI product Thursday He said that in order to take more effective measures, the Bangladesh Bank is moving forward to implement some pragmatic measures involving monetary policy.   “Interest rates have been hiked several times and loan interest caps have been lifted,” he said. The finance minister said that the current account balance was positive at the end of the first quarter (July-September) of the current financial year due to increase in exports, decrease in import costs and increase in repatriation income. However, he said, due to negative growth in the financial account, foreign exchange reserves have decreased as compared with figures on June 30, 2023. Death of house help: Daily Star executive editor, wife sent to jail The government has already taken various steps to increase foreign exchange reserves, he added. He expected that the foreign exchange reserves to return to their previous strong position very soon.