Mentioning that the patronage-based economy must be stopped and equal opportunities must be ensured for all, said New Finance Minister Amir Khasru Mahmud Chowdhury on Wednesday.

The minister underlined the importance of ensuring a level playing field across sectors, adding that every citizen should have the opportunity to participate in economic activities and benefit from growth.

Amir Khasru said these while talking to reporters on his first working day at the Finance Ministry at the Secretariat today.

The Finance Minister said that the current condition of the country’s state institutions is very fragile and restoring them is the government’s first priority.

He added that professionalism, transparency and efficiency must be increased in the institutions. Without these, no programme, however big, will succeed. This is priority number one.”

The minister argued that excessive regulation often creates opportunities for corruption and rent-seeking, adding that rationalising the regulatory framework would reduce barriers, improve competitiveness and enhance investor confidence.