At a high-level review meeting on preparations for graduation from Least Developed Country (LDC) status, Chief Adviser Dr. Muhammad Yunus strongly criticized the declining state of Bangladesh’s leather industry.
“We were supposed to achieve economic gains from the leather industry, but that did not happen. In fact, we have committed a crime against this industry—we failed to assess its true value,” he stated.
The meeting was held yesterday at the Chief Adviser’s Office in Tejgaon. During the session, Dr. Yunus called for an urgent, separate meeting to address the ongoing crisis in the leather sector. He also directed that another meeting be convened within two months to determine the next steps for the country’s smooth graduation from LDC status.
“We must move forward in our own interest,” he said. “Policies and laws that are no longer effective must be reviewed and reformed as necessary.”
The meeting reviewed progress on 16 decisions previously adopted to support LDC graduation. Among them, the National Board of Revenue (NBR) is responsible for implementing four decisions, the Ministry of Industries for three, the Economic Relations Division for two, the Ministry of Commerce for three, and the Chief Adviser’s Office is working on four.
The need to provide incentives and support to export sectors beyond ready-made garments was also emphasized. Special attention was given to ensuring duty-free import of raw materials and machinery for man-made fiber-based industries.
Additionally, the session reviewed the status of the Effluent Treatment Plant (ETP) at Savar’s Tannery Village, the under-construction API Park in Gazaria, Munshiganj, and the updating process of the National Industrial Policy formulated in 2022.
Present at the meeting were the advisers for finance, industry, environment, shipping, and health, along with the Cabinet Secretary, Principal Secretary to the Chief Adviser, the NBR Chairman, the Governor of Bangladesh Bank, and secretaries from various ministries.