DHAKA, Mar 4, 2026 (BSS) – Dr Rashed Al Mahmud Titumir, Prime Minister’s Adviser on Ministry of Finance and Planning, has outlined a comprehensive roadmap to overhaul Bangladesh’s economic framework, setting a target to raise the tax-GDP ratio to 15 percent by 2035 while shifting the nation toward an investment-led growth model. “The previous consumption-led growth model was unsustainable and had left the country burdened by a mountain of debt accumulated particularly between 2009 and 2024,” he said. The adviser made the remarks while speaking as the chief guest at a roundtable today titled “Looking into Bangladesh’s Development: Priorities for the Newly Elected Government in the Short to Medium Term”, organised by the CPD and The Daily Star at BRAC Centre Inn in the city. To ensure long-term sustainability, Titumir stated that the government is working to transition rapidly toward an investment-led model fueled by both domestic investment and Foreign Direct Investment (FDI). He mentioned that a central pillar of this transition is a significant increase in internal resource mobilization.  The adviser noted that Bangladesh’s tax-to-GDP ratio currently sits at the bottom level globally.  To rectify this, he said, the government has set a clear goal achieving an average Tax-GDP ratio of 15% by 2035. Moving beyond arithmetic stories to implement a phased approach, he said that aiming for incremental growth markers of 2% and eventually 10% on the path to the final goal. He highlighted the need for a tax culture rooted in investment, production, and employment. He identified several systemic maladies in the current revenue structure that require urgent reform. The adviser criticized the reliance on Statutory Regulatory Orders (SROs), describing it as a market where influence was bought and sold.  He called for reducing this practice to create a fairer environment. The government intends to move from greenfield incentives (based on identity and influence) to performance-based subsidies (ex-post subsidies), he added.  This model, which proved successful in the garments sector, will reward actual results rather than potential, he added. He called for an end to the major disease of relying solely on the Large Taxpayers Unit (LTU) for revenue, advocating for better mobilization across all units. The adviser stressed that under current conditions, traditional austerity is not a viable path given the poverty situation. Instead, he said, the focus must be on eliminating waste and repurposing fiscal policy.  He expressed concern over the alarming implementation rate of the Annual Development Program (ADP) and emphasized that public finance must be held accountable for the proper application of funds. Specifically, he pointed to a Taka 60,000 crore subsidy burden in the energy sector, stating that the government is adopting three strategic methods to reduce this massive expenditure. In conclusion, the adviser urged the nation's eminent citizens to encourage a culture where public goods and services are funded through proper taxation and where the operational budget moves downward while development spending moves upward to benefit the society at large.