Staff Reporter :
Head of the White Paper Committee on the national economy and distinguished fellow at the Centre for Policy Dialogue (CPD) Dr. Debapriya Bhattacharya has called on the interim government to take a more focused, energetic, and sensitive approach to the economic challenges faced by ordinary citizens, as the nation approaches a critical election and looks toward ambitious reforms.
During his keynote address at the Distinguished Lecture Series on Thursday, Dr. Debapriya stressed ensuring both successful reforms and a smooth national election and said the government must pay a closer attention to the economic conditions of the people.
“If you aim to implement ambitious reforms and hold a successful national election, you must address the economic situation with greater care, energy, and sensitivity to the needs of our people,” he said.
The lecture, titled “The State of Bangladesh Economy: What Is To Be Done?”, was organized by the Bay of Bengal Institute and Cosmos Foundation at a city hotel.
Dr. Debapriya, who also heads the White Paper Committee set up by the interim government, further noted that while foreign stakeholders—including investors, development partners, and market operators—express optimism about the government’s initiatives, there are ongoing concerns regarding the continuity of projects and reform measures.
He pointed out that these worries must be addressed to maintain investor confidence and ensure
the country’s economic stability.
“The international community is supportive, but there is a sense of uncertainty about the continuity of reforms,” he explained. “We need to provide more comfort to our foreign partners and stakeholders to ensure the sustainability of their investments and our economic progress.”
Debapriya also underscored the importance of incorporating these concerns into the country’s mid-term plans, the upcoming budget, and the development forums to ensure that progress continues in the coming months, providing greater certainty about the nation’s economic trajectory.
He further stressed that economic stability and a secure law-and-order environment are essential for the successful implementation of reforms. “Without stability, people will become unsettled and uncomfortable, which will hinder our ability to carry out meaningful reforms,” he warned.
In his welcome address, Enayetullah Khan, Chairman of the Cosmos Foundation and Bay of Bengal Institute, reflected on the revolutionary events of July-August that reshaped Bangladesh and praised Dr. Debapriya’s White Paper for its thorough examination of past shortcomings and future solutions.
“The White Paper will show us what went wrong, but it will also chart the way forward for a prosperous future,” Khan said, highlighting that despite the current global and regional uncertainties, Bangladesh still holds significant potential for economic growth and transformation.
He also pointed to the challenges of low wages, underinvestment in research and development, and poor governance as key obstacles to the country’s economic progress.
“Bangladesh has the potential to become a rising economy in Asia, but we must overcome these challenges and tap into our strengths,” Khan added.
In his remarks, Dr. Iftekhar Ahmed Chowdhury, former foreign adviser and president of the Cosmos Foundation, expressed the hope that the government would give serious attention to the findings of the White Paper.
He emphasized that economic policies should prioritize the welfare of the people, addressing issues like corruption, inflation, and inequality.
“Growth should not be about rising tides that lift some boats while leaving others behind,” Dr. Chowdhury stated.
“Policy-making must be people-centric, with the interests of ordinary citizens at the heart of all decisions.”
The lecture also featured discussions by Dr. Mahfuz Kabir, Research Director at the Bangladesh Institute of International and Strategic Studies (BIISS), and Parvez Karim Abbasi, Assistant Professor of Economics at East West University.
The experts all agreed on the need for economic policies that ensure inclusive growth and address the challenges faced by the most vulnerable sections of society.
In conclusion, Dr. Debapriya reiterated that while Bangladesh faces significant challenges, there are still ample opportunities to achieve sustainable growth through strategic reforms, a people-centered approach, and collaboration with international partners.
