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The General Economics Division (GED) of the Planning Commission is set to undertake a five-year strategic reform and development framework through 2030, aiming at economic recovery, stabilisation and subsequent growth acceleration.
Rashed Al Mahmud Titumir, adviser to the Prime Minister on finance and planning, said initial measures would focus on recovery and stabilisation of the economy, with restoration efforts targeted within the next year.
The remarks came at a press briefing following a consultation meeting on the plan, held at the Planning Ministry in Agargaon on Wednesday.
“The full framework period will prioritise reconstitution and growth acceleration,” he said.
He said the government would pursue a more realistic and forward-looking approach to economic planning, moving away from number-driven narratives lacking grounding in reality.
“Plans will be aligned with current conditions and designed with potential challenges in mind, alongside ensuring implementation strategies and accountability,” he told reporters after the first meeting of an advisory committee formed to guide the GED.
Mr Titumir said the government aims to introduce three fundamental shifts in economic planning, noting that past plans often showed a wide mismatch between targets, statistics and ground realities.
“These gaps are now under review, and future plans will be implementable and aligned with people’s needs,” he added.
Referring to the “democratisation of the economy”, he said planning must be inclusive, ensuring participation and reflecting the needs of all segments of society. Aligning public expectations with economic realities would remain a key priority.
On food and energy security, he said the government is considering building strategic reserves to address future shocks, alongside increasing domestic gas output and strengthening overall energy security.
He noted that economic strategies become effective only when grounded in present realities and framed with future risks in mind. “Many past plans were detached from people and largely based on abstract numbers,” he said.
On electoral pledges, Mr Titumir said commitments made in the manifesto have now become part of the national agenda, with the immediate task being to translate those into actionable strategies and ensure effective implementation.
Highlighting industrialisation and diversification, he said Bangladesh needs to rethink its industrial strategy, placing greater emphasis on competitiveness and productivity. However, recent economic census data point to a decline in industrial output, which he termed a concern.
He also flagged challenges in education and health, citing inequality and quality deficits in both sectors. Declining reading skills and overall academic performance indicate a deeper crisis, he noted, adding that the country is navigating these challenges amid a stressed economy and an adverse global environment.
On social protection, he said initiatives such as family and farmer cards have been introduced to support a large segment of the population and improve living standards.
Turning to employment, Mr Titumir said the country is heading towards a “paradigm shift” with a goal of building a trillion-dollar economy by 2034. However, he stressed that job creation is more critical than growth alone, noting that much of the past growth had been jobless and that questions remain over data credibility.
He added that unemployment among youth, women and graduates is rising, while micro, small and medium enterprises are facing growing constraints. Despite multiple post-Covid stock market irregularities that affected small investors, the market has yet to fully recover.
On transparency and accountability, he underscored the need for greater public participation and a culture of openness. Making information, such as on energy supply, publicly available would allow citizens to better assess government performance, he added.
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