BNP Vows to Deregulate Economy and Businesses if Elected

“If given the opportunity to govern, we will prioritize deregulation. Serious liberalization is essential for Bangladesh’s growth. Every developing economy today is embracing deregulation to drive progress,” Chowdhury said during a roundtable seminar organized by the Bangladesh Ship Breakers and Recyclers Association at a city hotel.

Chowdhury emphasized that reducing regulations is critical for enhancing governance and overall economic performance. He pointed out that Bangladesh’s current regulatory environment has become a barrier to business efficiency.

“Bangladesh is overregulated, and this is a major obstacle for businesses,” he remarked, referring to the excessive controls that have left entrepreneurs and businesspeople struggling to operate effectively. “The business community is drained by these burdens, and it is imperative that we free them from such constraints.”

The former commerce minister argued that industries, ranging from shipbreaking to recycling, should be empowered to self-regulate, with trade bodies playing a key role in this process.

“Trade associations should have the autonomy to manage their sectors, with minimal government interference. This is the only way forward for industries to flourish,” Chowdhury said. He noted that the government’s role should primarily be to monitor and oversee, rather than to dictate operations.

He also pledged that, if the BNP forms the next government, it will focus on reducing state control in various sectors to promote faster economic growth. “The more the government steps back, the better the economy will perform,” he asserted.

Chowdhury’s comments came alongside BNP’s broader political agenda, which includes strengthening ties with China and seeking a more strategic balance in the region.

Ultimately, the BNP leader reiterated that empowering trade bodies to self-regulate would be central to a new economic vision that fosters growth and governance reform in Bangladesh.