National Professor Mahbub Ullah calls for shift from foreign aid to domestic self-reliance
National Professor Mahbub Ullah has urged a strategic shift in Bangladesh’s economic policy, calling for an end to reliance on external financing in favor of self-sufficiency as the nation marks five decades of development. Speaking at a seminar hosted by the Bangladesh University of Business and Technology (BUBT) Economics Club, he emphasized that the path to long-term stability lies in internal value addition, specifically through the repatriation of export earnings and the strengthening of the ready-made garment sector.
Addressing the seminar, titled "Post-Budget Analysis of 2026-27 and Future Directions for the Bangladesh Economy," Professor Ullah underscored that the country's economic trajectory is currently hindered by structural inefficiencies. He pointed to the low tax-to-GDP ratio as evidence of the National Board of Revenue's lack of organizational cohesion. Furthermore, he noted that a significant portion of national resources is being diverted toward debt interest payments, which undermines the implementation of vital budgetary plans. He also attributed the current inflationary pressure to the exorbitant costs associated with mega-projects initiated by the previous administration.
Professor Muhammad Mahbub Ali, from BUBT’s Department of Economics, presented the keynote paper, providing a comprehensive analysis of the 2026-27 fiscal budget. He stressed the necessity of rigorous implementation of the Annual Development Program (ADP) and argued that project success depends heavily on stringent quality control measures. Regarding the energy sector, Professor Ali cautioned against privatizing electricity distribution, advocating instead for the maintenance of the current system under strict governance to ensure transparency and eliminate corruption.
The discourse also highlighted the importance of academic engagement in national policy formulation. Professor Syed Masud Hossain, Dean of the Faculty of Business and Economics at BUBT, noted that comprehensive post-budget analysis is essential for identifying the policy insights required for sustainable development.
Concluding the event, the chair, Professor Md. Mahamudul Hasan, emphasized that such academic initiatives play a crucial role in cultivating economic literacy among the youth, a vital component for the country’s enduring prosperity. The event was attended by senior faculty members and experts, reinforcing the university's commitment to shaping the future discourse of the national economy.
