He said the nation is not getting expected results from the annual development programme (ADP) due to poor quality of work and corruption.

Roughly 40 to 42 percent of the total ADP expenditure benefits the nation and the rest is wasted because of the delay and flaws in project implementation, Mintoo said in a pre-budget interview with The Daily Star.

He said the main challenge of the economy is to create employment. "Every capable hand that wants to work should get employment opportunity and it should be a priority target of the government."

On the quality of project implementation, he said, "If the administrative structure and the governance are not improved, we cannot expect a meaningful change. Misuse of public money must be stopped."

Mintoo said tax holiday should continue as it has a kind of positive impact on investment. "If anybody abuses it, take step to punish him," he asked the policymakers.

"Tax evaders should also be punished. People have to pay tax for any taxable items," said the chief of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI).

He said the budget exercise needs to be modified to remove fears of any bad consequences. A budget should be placed in parliament at least 120 days before the fiscal year begins, he suggested.

About the ADP, he said the quality of development activities is not as good as it is expected. The maintenance cost becomes too high due to poor quality of work, particularly in the city corporation areas.

The FBCCI chief said funds allocated for ADP should be disbursed phase-wise, but in time. Delay in bill payments slows the economy down for a considerable period of time, he observed.

Mintoo said bureaucrats have a tendency not to spend government money. The amount allocated in the budget must be spent timely and the bureaucrats should be punished if they fail to spend that money in time.

He said it has become a general tendency for the finance ministry to hide stark facts by showing higher revenue income and lower revenue expenditure. "This is self-defeating and must be avoided," Mintoo said.

About unemployment, the FBCCI chief said investment should be increased in the infrastructure sector to generate more employments.

He said the growing unemployment problem is creating public discontent in the society and no government can ignore such a situation.