Prime Minister’s Adviser on the Finance and Planning Ministries Prof Rashed Al Mahmud Titumir on Wednesday said many development projects undertaken in the past were driven by nepotistic patronage, as he announced a shift toward more inclusive and realistic economic planning.
He said the new government would move away from such practices and focus on democratising the economy to ensure participation from all sections of society.
Titumir made the remarks at a press conference following the first meeting of an advisory committee formed to develop the government’s economic strategy. The meeting was held at the NEC conference room of the Planning Commission in Sher-e-Bangla Nagar in the capital.
He said evaluation and analysis of ongoing development projects had already begun, with a target to complete the process by June next year.
“In the past, so-called planning often produced self-styled and imaginary success stories. We are now moving away from that trend and will adopt realistic, employment-oriented planning,” he said.
He added that effective coordination between public investment and the private sector would be ensured to create sustainable economic momentum and generate employment.
Addressing energy security, Titumir said, “Alongside food, there are plans to build strategic reserves in the energy sector to tackle potential future crises. Strengthening domestic gas exploration and ensuring energy security will be among the government’s top priorities.”
Planning State Minister Zonayed Saki, who attended the meeting as a special guest, said ongoing projects would not be abruptly scrapped but would instead be restructured based on practical considerations.
“Any obstacles in government activities will be resolved gradually,” he added.
Meanwhile, Manzur Hossain, a member of the General Economics Division of the Planning Commission, said work had begun on a new five-year strategic plan, with a preliminary draft expected within the next two to three months.