DHAKA, Dec 26, 2023 (BSS) - Distinguished Fellow of the Centre for Policy Dialogue (CPD) Professor Mustafizur Rahman today laid emphasis on tax evasion-free revenue management and more market-based foreign exchange rate and bank interest rate for building a strong and balanced economic system in the country.

He also suggested implementation of a bold reform programme for a loan defaulter-free banking system in the country.

"Implementation of such programmes may face some difficulties in the initial stage but we need to do these for a strong and balanced economy," he said while speaking at a programme titled "Conversation with Prof Mustafizur Rahman" organised by Economic Reporters Forum in the capital.

He said it is necessary not only to accept the reform programme, but also to implement it.

"We have very good laws. So, why are tax evaders and loan defaulters being created in the country?" he said.

He urged the authorities concerned to make the exchange rate fully market based for increasing both export and remittance earning which will help strengthen the country's foreign exchange reserves.

Expressing his expectation that the Special Economic Zones (SEZs) will be a tool for the country's economic transformation, the eminent economist said, one-stop service can be a tool of the SEZs for economic transformation of Bangladesh.

He mentioned that the positive policies of the government have a special role behind the progress of the garment industry.

However, he urged to ensure product diversification and labour related compliance in the garment industry for sustainable development of this industry.