Finance Minister Amir Khasru Mahmud Chowdhury has said that public funds are under significant pressure due to high-cost fuel imports amid ongoing volatility in the global energy market caused by conflict in the Middle East.
Speaking at the convocation ceremony of Independent University Chattogram on Friday, April 3, the minister said Bangladesh, like many other countries, has been compelled to procure oil and gas at elevated prices to ensure uninterrupted energy supply.
He emphasised that the government remains committed to maintaining energy security to support households, industries, agriculture, and transportation.
According to him, there has been no disruption so far, with factories operating normally and public travel, including during the Eid period, remaining smooth.
However, Khasru warned that the continued import of fuel at high prices is placing growing pressure on the national exchequer. He cautioned that if the situation persists, it could have implications for the national budget and ongoing development activities, potentially affecting the government’s ability to meet public commitments.
The minister indicated that new decisions regarding fuel management and pricing may be announced soon. In the meantime, the government has initiated measures to promote energy conservation among officials and has called on citizens to contribute by reducing energy consumption.
On the economic front, he said the government is working to introduce reforms in the capital market aimed at restoring investor confidence and encouraging greater participation. He noted that efforts are underway to shift large-scale investments toward the stock market instead of relying heavily on bank financing.
The finance minister also highlighted the need for stronger collaboration between universities and the industrial sector, noting that such partnerships are crucial for enhancing education quality and research output.
He pointed out that a heavy focus on general education has contributed to rising unemployment among graduates, including those with higher academic qualifications.
Calling for reforms in the education system, he stressed the importance of technology-based learning. Universities, he said, should modernise curricula and introduce new technology-oriented programs to improve employability and prepare students for the demands of a rapidly evolving global economy.
MAS/MHK