Dhaka: Finance Minister Amir Khosru Mahmud Chowdhury addressed Parliament on Monday, revealing that the government has initiated plans to import fuel oil and LNG from alternative sources. This move aims to ensure energy security in light of the ongoing conflict in the Middle East.
According to United News of Bangladesh, the Finance Minister explained that the government is implementing a range of comprehensive measures to stabilize and invigorate the nation’s fragile economy amidst global recessionary pressures exacerbated by current global instability. The Minister detailed that upon assuming office, the government faced numerous economic challenges, including global instability, rising commodity prices, pressure on foreign transactions, and weaknesses in the banking sector, compounded by past economic irregularities.
In response to the excessive increase in international fuel prices, the government has adopted several energy-saving initiatives. These include securing budget support from development partners and acquiring additional financing. The Minister emphasized the government’s focus on strengthening the economic foundation, alleviating public hardships, boosting investment and employment, restoring discipline in the banking sector, and ensuring transparency and accountability in public financial management. He highlighted several key measures already in place and others underway to transform the fragile economy into a robust and vibrant one.
Aiming for a Trillion-Dollar Economy by 2034, the Finance Minister responded to a question from ruling party lawmaker S M Jahangir Hossain (Dhaka-18), stating that the country’s per capita income reached $2,769 in the 2024-25 fiscal year, based on the latest data from the Bangladesh Bureau of Statistics. He outlined the government’s ambition to achieve a trillion-dollar economy by 2034 through action plans centered on investment, employment, economic democratization, the creative economy, and the sports economy. The government is working diligently across all fronts, including employment generation, investment, production, exports, remittance inflows, skill development, social protection, and overall macroeconomic stability, to increase per capita income, Minister Amir Khosru added.