Democratization of economy Govt’s core objective: Amir Khasru

Amir Khasru Mahmud Chowdhury at the launch of the Second phase of RAISE project by PKSF and World Bank on Sunday

Dhaka, 10 May 2026- Finance and Planning Minister Amir Khosru Mahmud Chowdhury said that democratization of the economy lies at the heart of the current government’s political philosophy. Emphasizing that the government’s main objective is to ensure the participation of every citizen in economic activities, he stated that PKSF will receive full support from the government in implementing initiatives aimed at achieving this goal.

He made these remarks today while speaking as the Chief Guest at the inauguration ceremony of the second phase of the skills development-focused RAISE project, held at PKSF Bhaban-1 in Agargaon, Dhaka. The event, titled ‘Stepping Forward: The Inauguration of RAISE-2’, was chaired by PKSF Chairman Zakir Ahmed Khan. Nazma Mobarek, Secretary of the Financial Institutions Division, attended it as the Special Guest, while Dr Gayle H Martin, Acting Division Director for Bangladesh and Bhutan, the World Bank, was present as the Guest of Honour. The welcome address was delivered by PKSF Managing Director Md Fazlul Kader.

The Chief Guest emphasized on the importance of ensuring that the benefits of economic growth reach people at the grassroots through equitable distribution and of building an inclusive economy by mainstreaming disadvantaged and marginalized communities. Praising the activities of PKSF, Amir Khosru Mahmud Chowdhury said, “PKSF’s development philosophy is completely aligned with the government’s goals.”

Special Guest Nazma Mobarek said that, alongside financing, PKSF is working for the sustainable development of low-income people by assisting entrepreneurs in enhancing their skills and by providing technical support, technology transfer, and market linkages. She expressed hope that PKSF would expand its efforts further in the development of the microenterprise sector, leading to sustainable employment opportunities for a larger number of people.

Dr Gayle H Martin of the World Bank said that more than two million young people enter Bangladesh’s labor market every year, making it essential to equip them with technical skills and employment opportunities. She noted that the second phase of the RAISE project will ensure training and greater participation of more women as part of the project’s efforts to make a positive contribution in this area.

Expressing gratitude to the Government of Bangladesh for awarding PKSF with the ‘Independence Award 2026’, Zakir Ahmed Khan said that the vast majority of employment in Bangladesh is centered in and around the informal sector, which currently contributes more than 30% to the country’s GDP. He noted that PKSF has organized nearly four million microentrepreneurs to support the development of this sector, helping create around seven million full-time jobs. To sustain this “silent revolution”, he added, the time has come to ensure greater domestic financing alongside foreign assistance.

Md Fazlul Kader said that, under PKSF’s Strategic Plan, efforts to improve the quality of employment are continuing through 13 ongoing programs built around three core pillars—decent employment creation, capacity enhancement, and risk mitigation. These continuous interventions have been further strengthened through the successful implementation of nearly 50 specialized projects. He remarked that PKSF is now fully prepared to transform microenterprises into a key engine of national economic growth by creating productive and decent employment opportunities across the country.

A total of 423,100 individuals will directly benefit from the second phase of the RAISE project, which is scheduled to conclude in 2030. Priority in participant selection will be given to young people from climate-vulnerable areas such as char, haor, hill tracts, and coastal regions. Special emphasis will also be placed on including Dalit communities, small ethnic groups, and young people with disabilities. To increase women’s participation in the labor force, an initiative has been taken to provide 1,600 women with entrepreneur development training on ‘home-based childcare’.

At the event, some field-level participants of the project shared their success stories.

Representatives of the RAISE-implementing Partner Organizations remarked that the project is playing an important role in connecting young people with appropriate employment opportunities through market-based technical training, life skills development, and enterprise development activities, while also contributing to the growth and sustainable expansion of microenterprises. – Press release