Khasru promises deregulation, abolishment of FID
In his speech, Amir Khasru Mahmud insisted that the economy must work for everyone, ensuring universal participation.
Bangladesh Nationalist Party (BNP) Standing Committee member and former commerce minister Amir Khasru Mahmud Chowdhury said, if voted to power, his party will pursue "serious deregulation" and empower the private sector to drive Bangladesh's economy growth.
"If BNP comes to power, the financial institutions division (FID) of finance ministry will be abolished. This division was created to control state-owned banks – appointing managing directors and board members of their choice and often facilitating looting," he noted.
He made the remarks today (27 October) while speaking as the chief guest at the Economic Reform Summit held at a city hotel in Dhaka.
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The former commerce minister criticised excessive bureaucratic control over businesses, suggesting regulatory authority should be transferred from government offices to trade unions to promote self-regulation in the private sector.
He urged business leaders and entrepreneurs to prepare for a more private sector–driven and less bureaucratic economic model under a future BNP government.
The veteran politician said that tax policymaking in Bangladesh must move beyond bureaucratic control and be grounded in a practical understanding of how businesses operate.
The BNP leader also called for restoring the independence of Bangladesh Bank and ending political appointments in financial institutions. He said, "Bangladesh Bank must be independent, not just autonomous."
He claimed that during BNP's tenure there was no bank loot or stock market manipulation," attributing it to the absence of political interference in the central bank and the Securities and Exchange Commission.
On the social front, he said, BNP's economic vision is geared towards job creation across diverse sectors.
Expressing optimism about Bangladesh's economic potential, Khasru added, "We can move from a frontier market to an emerging market. We have the plan, and we can do that."
Speaking at the event as a panel discussant, BNP's acting chairperson's adviser Mahadi Amin said, "We want to build an equitable Bangladesh where merit and skills are properly valued and the economy is truly inclusive."
Dr Nakibur Rahman, spokesperson for the US chapter of Bangladesh Jamaat-e-Islami, said corruption raises the cost of capital by 30–35%. "Reducing corruption will lower the equity risk premium and make Bangladesh more competitive for investment," he said.
NCP Joint Convener Khaled Saifullah called out a lack of consultation between businesses, the public, and political parties during policy formulation and underlined the need for national consensus on the fundamentals of economic development.
The summit was jointly organised by Voice for Reform, BRAIN, Nagorik Coalition, Fintech Society and Innovision Consulting.
