The finance minister made the remarks as chief guest at a roundtable discussion held at a hotel in the capital.

He said the country's economy had gradually evolved into a "patronised economy" in the past, resulting in an expansion of rules and regulations. However, many of those restrictions were imposed on ordinary entrepreneurs, while influential groups often remained outside their purview, undermining a level playing field in business, he said.

The minister said the current government aims to open up economic participation for all citizens and ensure that the benefits of economic growth reach every level of society.

Referring to rural artisans and small producers, he said blacksmiths, potters, weavers, handicraft workers and other traditional producers have been contributing to the economy for generations, yet their living standards have seen little improvement due to lack of policy support, financial inclusion and market access.