Finance Adviser Dr Salehuddin Ahmed has said that economic reform is the biggest reform that the country needs most at this moment. “We are talking a lot regarding reforms -- political reforms and election reforms -- I think those are needed and important too, but right now the biggest reform we need in the economy,” he said. The Finance Adviser was addressing a seminar titled “International Customs Day-2025”as the chief guest held at the National Board of Revenue (NBR) in the capital. Mentioning that economic reform is simultaneously tough and also easy, Dr Salehuddin said, “There are some fundamental laws which need to be changed and it will take time.” The Adviser stressed that the existing laws and systems need to be practised properly, correctly and transparently, and urged the business community to supplement the government’s efforts in boosting revenue collection. No change in duties until Ramadan ends: Finance Adviser “I request you (businesspeople) from the government to cooperate in raising the revenue collection. It won't work in collecting revenues only by force …if you have dues, please pay those duly,” he said. A video message of the World Customs Organization (WCO) Secretary General Ian Saunders was played on the occasion alongside a video documentary on the operations of Bangladesh Customs. The theme of this year’s International Customs Day is “Customs Delivering on its Commitment to Efficiency, Security and Prosperity”.  The Finance Adviser also assured the business community that no ‘illegal’ or ‘irrational’ demands would be raised from the revenue authority while receiving their taxes and duties. Besides, no ‘irrational’ demand would be raised before the businesses ‘beneath the table’ from the revenue board staff, he added. “If such compliance is ensured, then I hope the businessmen will support us more.” Presided over by NBR Chairman Md Abdur Rahman Khan, the event was also addressed by Finance Secretary Dr Md Khairuzzaman Mozumder and FBCCI Administrator Md Hafizur Rahman. NBR Member Kazi Mostafizur Rahman delivered the address of welcome while another NBR Member Hossain Ahmed made the keynote presentation. Noting that the issue of enriching the state coffer is a collective responsibility, the Adviser said that the taxpayers’ money would not only be used for the benefits of the taxpayers themselves, but also for ensuring the overall welfare and benevolent works of the countrymen as well as in education, health, agriculture and in industrial development. Economy not as bad as feared, but challenges persist: Finance Adviser Citing that the task of revenue collection under the current context is a challenge, Dr Salehuddin directed the revenue board officials to become more active than before in fulfilling the fiscal collection target and thus moving forward the economy. He asked them to discharge their duties with utmost honesty, integrity and sincerity as well as in a speedy manner in this competitive era for the sake of the country and its people. “The NBR is trying heart and soul and after two to three months we can get an idea about the real revenue collection scenario in this fiscal. This is a big challenge ahead of us and all will have to work unitedly and with ‘team work’,” Turning to the revenue collection state in the country, Dr Salehuddin said that Bangladesh is more or less ahead in revenue collection and expenditure management, but the country is still lagging behind in technological and procedural aspects. “We perceive that and we’ve to step into the modern era…we’re trying to make revenue collection and expenditure more rational and for that artificial intelligence (AI) and other technologies are needed,” he added. Finance Secretary Dr Md Khairuzzaman Mozumder said that the recent launching of the Bangladesh Single Window (BSW) has been a milestone for the country and hoped that Bangladesh Customs would work as a modern department being acclaimed across the globe. Govt trying to keep prices of essentials tolerable till Ramadan: Finance Adviser FBCCI Administrator Md Hafizur Rahman hoped that formal and informal consultations would be held with the business community before framing the national budget for the next fiscal year (FY26). A total of 16 customs department officials were recognized with ‘WCO Certificate of Merit’ at the seminar.

Finance Adviser Dr Salehuddin Ahmed on Sunday said trade is the most important vehicle for economic development, not aid or grants. “We have very excellent relationships with Saudi Arabia, Japan, South Korea and other countries that are coming in a big way for our economic development,” he said while speaking at a report launching ceremony at the Ministry of Foreign Affairs as the chief guest. Referring to Samsung investment issue, the Finance Adviser said Samsung came in the past to invest but were not welcomed and they went to Vietnam. He said Bangladesh is paying the price now as a lot of wrong policies were taken in the past. Govt trying to make things easy for investors: Foreign Adviser He said many countries are proposing free trade agreements (FTAs) with Bangladesh and the country needs to remain prepared. The Finance Adviser said the government will do everything, and the private sector will just take the opportunity. “Private sector has to be very competitive, efficient, and also perform their job.” “One thing very clearly I have said - subsidies, cheap money and low interest rate – those days are gone ... .these are not the signs of a competitive economy,” he said. The Ministry of Foreign Affairs unveiled the comprehensive report titled “Enhancing Saudi-Bangladesh Economic Engagement, Trends, Key Challenges & Long-term Growth Prospects,” prepared under its initiative with research support from Policy Exchange, a private policy think tank based in Dhaka. The report documented by Policy Exchange under the leadership of Dr M Masrur Reaz, offered in-depth insights and analyses into the potential economic engagements between Bangladesh and the Kingdom of Saudi Arabia. Foreign Secretary Md Jashim Uddin presided over the session. KSA revises fees for visa, Iqama renewals Speaking as special guest, Foreign Affairs Adviser Md Touhid Hossain reaffirmed the interim government’s dedication to streamlining processes to facilitate investment in Bangladesh, signaling a renewed commitment to removing barriers for foreign investors. The Finance Adviser echoed this sentiment by sharing ongoing reform initiatives in Bangladesh aimed at creating an investor-friendly environment. Foreign Secretary Jashim Uddin reflected on the shared historical linkages and values between Bangladesh and Saudi Arabia while calling for enhanced engagements among the businessmen and relevant stakeholders in areas of mutual economic cooperation. Saudi Ambassador to Saudi Arabia to Bangladesh Essa Yousef Essa Alduhailan highlighted Saudi Arabia’s unwavering support for Bangladesh while acknowledging challenges previously faced by Saudi investors. He reiterated Saudi Arabia’s commitment to fostering a stronger economic partnership. The ceremony witnessed participation from key officials representing BIDA, ERD, the Ministry of Commerce, and the Ministry of Finance, along with prominent business leaders, members of the media, and officials from the Ministry of Foreign Affairs. Saudi’s Aramco willing to build refinery in Bangladesh Dr Md Nazrul Islam, Secretary (East) of the Ministry of Foreign Affairs, provided the audience with the background and context of the report, emphasising its significance in strengthening Saudi-Bangladesh relations. This was followed by a presentation of the salient features of the report by Chairman and CEO of Policy Exchange Dr M Masrur Reaz.