Finance Min Calls For Generating New Reform Ideas To Bring More Remittances

Finance Minister AHM Mustafa Kamal today urged all concerned to come up with thought-provoking reform ideas to bring more remittances to the country to enrich the foreign currency reserve.

"More and more people are going abroad, but remittances are not commensurate with the number of expatriates going abroad. Remittances could have reached $30 billion a year," he said.

Kamal also said, "Let us take necessary measures to augment the remittance, pursuing both fiscal and monetary policies. I simply request you to kindly come up with your thought-provoking reform ideas, to bring more remittances."

The Finance Minister was addressing the Public Financial Management (PFM) Summit'23 as the chief guest held at a city hotel jointly organized by the government of Bangladesh and the World Bank.

Highlighting the immense need for inward remittance under the current circumstances, he said the inflow of remittances solely can solve the country's problem of foreign exchange and eventually other macroeconomic problems arising from this sector.

World Bank Country Director for Bangladesh Abdoulaye Seck and practice manager, governance global practice of the South Asia region of the World Bank Hisham Waly spoke as special guests chaired by Secretary of the Finance Division Dr. Md Khairuzzaman Mozumder.

Finance Division additional secretary Shirajun Noor Chowdhury made a PowerPoint presentation on the overview, successes, and challenges of PFM reform in Bangladesh while a video documentary showcasing key PFM achievements as well as a short film on the success stories of the government pension reform was also screened._BSS