Chief Adviser Professor Muhammad Yunus has said that people are not born to work in jobs but to become entrepreneurs. He stressed the need for a new financial system in Bangladesh that enables everyone to pursue entrepreneurship.
Speaking on Sunday at the inauguration of the new building of the Palli Karma-Sahayak Foundation (PKSF) on Khilji Road in Dhaka’s Mohammadpur area, Professor Yunus said: “People are not born to work for someone else; they are born to be entrepreneurs. We must structure our financial system so that everyone has the opportunity to become an entrepreneur.”
He noted that today’s generation, including rural youth, is far more informed and creative than before. “We must create an economic and social environment where young people can work independently, either individually or through institutions,” he said.
The Chief Adviser proposed developing a framework where people can launch their own ventures and even participate as investors. “If we can create such a structure, real change is possible,” he said, adding that individuals should have the freedom to work for organizations or pursue their own initiatives, even mobilizing investment to run local businesses.
Professor Yunus said Bangladesh already has several hundred thousand entrepreneurs, many of whom are working in teams, and that this experience could be expanded further.
Reflecting on the history of PKSF, he said its creation began with a World Bank grant of 20 crore taka. “That money set off a series of discussions among the government, the Planning Commission, donor agencies and even the then President H.M. Ershad,” Yunus recalled. He explained how PKSF was formally established under a committee headed by the planning minister at the time, with himself as a member.
He said PKSF’s activities had broadened over the years but also faced structural and policy challenges, including gaps with the Microcredit Regulatory Authority (MRA). “We don’t simply give microcredit; we become partners with entrepreneurs. This needs a new definition,” he added.
Professor Yunus outlined a proposed model where the government or institutions act as partners, not just lenders. “If someone needs 500,000 taka for their business idea, we’ll provide it as an investment with equity, not as a loan. Over time, the entrepreneur can buy back our share,” he said.
He emphasized that technology now creates vast opportunities and allows individuals to connect directly to the global economy. “We have to provide the pathways for people to go wherever they want economically,” he said.
Commenting on the legal framework, Yunus said laws created in the 1980s no longer suit today’s entrepreneurship model. He suggested reforming PKSF’s own legal structure to allow for more diverse programs.
“This new building should mark the beginning of a new era for PKSF,” he said. “We have built a strong foundation over 35 years. Now it’s time to expand on a larger scale.”
He expressed confidence in Bangladesh’s international credibility and financing prospects. “If we can build an integrated financial system, our vision of creating true entrepreneurs will become reality,” Yunus added.
Finance Adviser Dr. Salehuddin Ahmed, PKSF Board Chair Zakir Ahmed Khan, and Managing Director Md. Fazlul Kader also spoke at the event.
