Jatiya Sangsad, June 11 -- The government has taken an initiative to develop the medical equipment and device industry as a priority industrial sector with a view to ensuring health security and reducing import dependency, said Finance Minister Amir Khosru Mahmud Chowdhury said on Thursday.

"At present, the vast majority of medical equipment is imported, resulting in a substantial outlay of foreign exchange," he said in his budget speech in Parliament.

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He said the country has strong domestic potential to manufacture a wide range of medical devices, including syringes, blood pressure machines, pulse oximeters, ventilators, X-ray machines, ECG machines, hospital beds, diagnostic...