Dhaka:The government's economic reform program is focused on bolstering the national economy through job creation, poverty reduction, enhanced social protection, and increased investment in productive sectors, as stated by Dr. Rashed Al Mahmud Titumir, Prime Minister's Adviser on Finance and Planning.
According to Bangladesh Sangbad Sangstha, Dr. Titumir highlighted these efforts during his address as the chief guest at the inauguration of the ESG Platform of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA). The event, which took place in the capital, was chaired by BGMEA President Mahmud Hasan Khan and attended by notable figures including Dr. M Masrur Reaz and Danish Ambassador Christian Brix Møller.
Dr. Titumir mentioned that Bangladesh has historically overcome economic challenges by creating new income and employment sources. He cited past initiatives by leaders like Shaheed President Ziaur Rahman and former Prime Minister Begum Khaleda Zia, which were instrumental in addressing economic crises and advancing poverty alleviation.
Ensuring employment opportunities for the country's young and educated population remains a critical challenge, with a significant number of women being outside formal employment, education, and training sectors. The government's initiatives in waiving agricultural loans, introducing Family Cards, and boosting spending on education and healthcare are aimed at reducing the cost-of-living pressures on low-income families and strengthening social protection.
Dr. Titumir pointed out that implementing the Family Card program over five years could considerably reduce poverty, addressing the shortcomings of previous government measures. On economic growth, he noted the varying projections from international organizations and emphasized the importance of reforms in determining the nation's growth path.
Regarding Bangladesh's transition from the Least Developed Country category, discussions are ongoing at international forums to extend the preparation period, with appreciation expressed for support from Denmark, the European Union, and other partners.
The adviser outlined the government's focus on creating an investment-friendly environment through policy continuity, business climate improvement, increased access to finance, energy security, and enhanced connectivity for goods transportation. Steps have been taken to ensure continuity in tax policy, reopen closed industrial units with a Tk 60,000 crore support package, and promote energy security through various initiatives.
Efforts to improve transport infrastructure, particularly between Chattogram and Dhaka, aim to be completed by 2029. Increased investment in productive sectors is expected to generate jobs and enhance domestic resource mobilisation, enabling higher spending on critical sectors like education and healthcare.
Dr. Titumir praised the BGMEA's adherence to ESG standards, noting that such initiatives could enhance transparency, efficiency, and competitiveness in Bangladesh's manufacturing sector, strengthening its global market position.