Success of budget depends on effective implementation: Finance Minister

While the recent budget has been widely praised by people from all walks of life, its true success hinges on effective implementation, said Finance Minister Amir Khosru Mahmud Chowdhury.

He made the remarks as chief guest at his first meeting with officials of the Finance Division at the ministry's conference room on Thursday (July 23). The meeting was chaired by Finance Division Secretary Dr Md Khairuzzaman Majumdar.

The Finance Minister said the budget, formulated after one and a half to two months of hard work, has been widely acclaimed. However, formulating the budget alone is not enough; its true success will be achieved through successful implementation. He called for a collective effort from all officials and employees of the Finance Division towards this goal.

He said the negative perception of bureaucracy among the general public must be changed. From the experience of the past four months, he has realised that any challenge can be overcome if everyone works together.

Advising officials to move beyond conventional approaches and work with innovative thinking in keeping with the changing world, the Finance Minister said meetings should not be one-sided; officials should be given the opportunity to express their views freely and spontaneously. He also stressed the need to increase mutual cooperation and work beyond conventional thinking.

He further said the focus must be on solving problems rather than complaining. Policy-making will be easier if accurate and objective opinions and information are available. He called upon the Finance Division to play a more responsible role as the driving force of the country's economy.

Meanwhile, speaking to journalists after a meeting at the Secretariat on the integrated development plan for Cox's Bazar, the Finance Minister said the government is formulating an integrated master plan to transform Cox's Bazar into an international and regional tourism hub.

He said the long-standing restrictions of 50 and 500 metres in coastal areas for development activities are being reconsidered. Steps will be taken to develop tourism infrastructure, hotels, motels, resorts and entertainment centres while ensuring environmental conservation.

The Finance Minister said there are plans to transform Cox's Bazar into a modern digital tourism city, coordinated with an international airport, rail and improved road connectivity. According to him, Cox's Bazar will play a role as an important 'growth hub' in achieving the goal of turning Bangladesh into a trillion-dollar economy by 2034.