United News of Bangladesh

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.

Bangladesh's Finance Minister AHM Mustafa Kamal has said that the national budget for the fiscal year (FY) 2023-24 was not based on the conditions of the International Monetary Fund (IMF). "Like in different countries, the IMF has come to Bangladesh and made some recommendations to help the economy. We took their prescriptions as per our needs, but did not follow them all in preparing the budget," he said while addressing a post-budget press conference at the Bangabandhu International Conference Centre (BICC) in the city on Friday (June 2, 2023). He said the IMF is not helping the countries only by providing money, they also monitor the economy. This is good for the economy. Responding to a repeated number of questions on inflation and commodity price hike, the finance minister said the government is concerned about the rising trend in inflation. Read more: Unrealistic budget won’t help overcome economic crisis: Fakhrul "We're apprehensive about inflation, but it is not beyond our control. We cannot stop feeding the people," he said. He said the government is approaching in a flexible way to contain inflation. Through social safety-net programmes, the government has been providing food to poor people. "We're trying to identify the reasons for inflation and address those. If we need to give any concession, we will do that," he said. Agriculture Minister Abdur Razzaque, LGRD Minister Tajul Islam, Education Minister Dipu Moni, Commerce Minister Tipu Munshi, Finance Secretary Fatima Yasmin, Bangladesh Bank Governor Abdur Rouf Talukder, and National Board of Revenue (NBR) Chairman Abu Hena Rahmatul Munim were among others also addressed on the occasion. Read more: CPD dismisses budget's projections on growth, inflation, revenue collection The Finance Minister claimed that the new budget was mainly focused on benefiting the poor people. "We have expanded our tax net so that more taxes could be collected. Everybody has to pay tax," he said, adding that like other budgets in the past this was also prepared targeting both the next election and the people. "We cannot separate the people or the election from our goal of the budget," he said. Responding to another question, he said that all the projections made in the previous budgets were implemented. Kamal said Bangladesh has been well placed in remittance earnings among the countries in the region. Read more: Budget 2023-24: Govt allocates Tk88,162 crore in education sector, up 8.2% After a downward trend, remittance earning is again increasing and we can meet five months of our import bill through our reserve. He said after some measures taken by the government, the inflow of remittance will gradually go up. At the press conference, with the request of the Finance Minister, Bangladesh Governor Abdur Rouf Talukder responded to a good number of questions, specially, on inflation, remittance and banking sector. He said that Bangladesh Bank will announce its monetary policy on June 19 where it will lay out the plan on containing inflation, and increasing remittance and reserve. He claimed that though the government's loan from the banking system is increasing, it will not push up inflation as the central bank is withdrawing more money from the market through selling dollars. Read more: Budget sets 7.5 percent annual economic growth, inflation at 6 percent

Finance Minister AHM Musatafa Kamal on Thursday (June 1, 2023) proposed an allocation of Tk 88,162 crore for the education sector in the national budget of Bangladesh for the fiscal year 2023-2024, up from Tk 81, 449 in the current fiscal. It's an increase of 8.2% over the last budget. In the proposed budget, Tk 34,722 crore was allocated against the Primary and Mass Education Ministry for 2023-24, which was Tk 31,761 crore in 2022-23, while Tk 42,838 crore against the Secondary and Higher education sector, which was Tk. 39,961 crore in 2022-23 and Tk 10,602 crore against the Technical and Madrasa Education Division, which was Tk. 9,727 crore in 2022-23. While unveiling the national budget, the minister said “We are decentralising education planning and management and implementing a 'School Level Improvement Plan (SLIP)' to enhance efficiency in primary education management.” Read more: Budget sets 7.5 percent annual economic growth, inflation at 6 percent Under this plan, the delegation of financial power has been restructured at the field level. An integrated education Programme has been launched to ensure education in mainstream government primary schools for all children of the society including children with special needs. Some 26,366 posts of teachers have been created in the pre-primary level of government primary school. Recruitment against a total of 32,577 posts including the newly created posts have been completed. Apart from the recruitment of the required number of teachers, primary school teachers are being trained on 5 core and 3 non-core subjects to increase the quality of education, he said. Besides, greater importance is being given to technology-based education to equip students for building a ‘Smart Bangladesh’, said the minister. Read more: Tax-free income limit increases to Tk3.5 lakh A total of 59,000 laptops, multimedia projectors and sound systems have been provided along with internet connectivity to more than 50,000 government primary schools to set up multimedia classrooms. Some 800 officers have been trained on ICT and more than 1 lakh teachers have been imparted hands-on training to create digital content. These teachers are creating digital content and teaching in the classrooms. As a result, classroom study is becoming interesting and the children are becoming more attentive in class, Kamal said. Meanwhile, special allocation is being given to schools for continuing teaching activities in schools in emergencies. The ongoing school feeding programme for more than 29 lakh students of 15,470 government primary schools in 104 upazilas of 35 districts of the country through the project titled 'School Feeding in Poverty-stricken Areas' has been completed recently. “We are continuing our efforts to transform educational institutions into modern and model institutions. A total of 351 secondary schools and 371 private colleges have been nationalized since 2009 to April 2023. As many as 315 private secondary schools located in upazila headquarters without government schools have been converted into model schools,” he said. Readmore: Finance Minister unveils Tk 761,785 crore national budget The construction work of 180 buildings has been completed for the government post-graduate colleges located at the district headquarters. Out of the 1,610 colleges selected under the private colleges’ development project, the construction of ICT-friendly buildings has been completed in 1,473 colleges. Under SESDP (Secondary Education Sector Development Plan), 33 model madrasas have been set up along with 62 new schools in underprivileged areas. At present, 176 academic buildings are being constructed to expand science education along with 33 hostels under the Expansion of Science Education in Government Colleges Project. A total of 33,285 multimedia classrooms and 11,307 computer labs have been set up in selected educational institutions since 2009 to enhance students’ proficiency in information technology and to modernize teaching methods. In addition, 64,925 multimedia classrooms and 12,000 labs will be set up in future. The digital content of 21 textbooks of primary level and the interactive digital text of 16 textbooks of class 6 have been completed and uploaded on the website. E-learning modules for 6 textbooks of class 7 and class 8 and e-learning material of 6 textbooks for class 9 and class 10 have been developed and uploaded. A total of 710 ICT learning centres have been set up in selected educational institutions. Read more: Curbing inflation without destabilising macroeconomic situation presents challenge for budget: Selim Raihan Audio-visual training content has been developed for teachers on classroom activities of all subjects of class 6 and 7 and training has been imparted to all teachers through open reading.

The proposed budget of Bangladesh in the fiscal year 2023-24 has set an estimated Gross Domestic Product (GPD) worth of 50.06 lakh crore with a 7.5 percent annual growth. The inflation target was set to 6 percent which is now 9.28 percent in the proposed budget. The 7.5 percent growth projection could be deemed as ambitious given the uncertainties in the global economy and various other challenges at home. Finance Minister AHM Mustafa Kamal explained his position on why he is expecting higher growth this time despite the economic pressures. Read more: Finance Minister unveils Tk 761,785 crore national budget “We expect to return to a higher growth trajectory and achieve a 7.5 percent GDP growth, by way of investing in the productive sectors and stimulating productivity and domestic demand,” he said. Kamal focused on investment in the 100 special economic zones and completing ongoing mega-projects to achieve the GDP target. In FY19, Bangladesh achieved a record 8.15 percent GDP growth. Then came the pandemic. The finance minister set a growth target of 8.2 percent in FY20, but the actual growth achieved was 3.45 percent, the lowest in several decades. The growth rate increased to 6.94 percent in FY21 after recovering from pandemic effects. The GDP growth further increased to 7.1 percent in FY22. Read more: Budget FY23-24: Focus should be on tackling macroeconomic challenges, says Dr Atiur Rahman