Govt considering institutional framework for blue economy in FY27: PM

Prime Minister Tarique Rahman on Wednesday said the government is actively considering establishing an institutional framework in the 2026–27 fiscal year to ensure the sustainable and long-term development of the blue economy.

“We are actively considering, if necessary, establishing an institutional framework in the 2026–27 fiscal year to ensure balanced coordination among marine resources, fisheries, tourism and environmental protection and to promote the sustainable and long-term development of the blue economy,” he said.

The government has already taken steps to formulate a Maritime Spatial Planning (MSP) framework in view of the potential benefits and opportunities of the country’s maritime resources, the Prime Minister said while replying to a starred question from M Nurul Islam (Barguna-2) during the question-answer session in Parliament, UNB reports.

He said the BNP’s election manifesto includes a plan for developing the blue economy through the science-based and sustainable use of the country’s vast maritime resources as well as the establishment of a National Blue Economy Authority.

The Prime Minister said the then BNP government formulated the Coastal Zone Policy 2005, which marked an important milestone in the development and protection of coastal areas.

In response to a supplementary question, he said the ruling party’s election manifesto also includes a fairly detailed plan on the blue economy.

“A large population of Bangladesh lives in coastal and maritime areas including Bhola, Barguna, Patuakhali, Cox’s Bazar and Chattogram among others. Naturally, if we can gradually develop the various components of the blue economy by assessing their economic potential, we will be able to improve the living standards of many people,” he said.

Tarique also said an extensive economic zone will emerge around the coastal region, which will further strengthen the country’s overall economy.

“Taking all these factors into consideration, we have placed special importance on the blue economy in our election manifesto and various ministries have already started formulating plans in phases,” he said.

The parliamentary session began in the morning with Speaker Hafiz Uddin Ahmed in the chair following a recess on April 10, with the Prime Minister’s question-answer session scheduled first on the day’s agenda.

Members of Parliament took part in the scheduled question-answer session at the start of the sitting.