Debapriya for mid-term plan to address economic challenges
NN Online:
Economist Dr Debapriya Bhattacharya has called on the interim government to implement a coordinated and effective mid-term plan to address urgent economic challenges and build public confidence.
He stressed the need for a comprehensive approach to stabilise the economy and restore public trust while speaking at a dialogue organised by the International Business Forum Bangladesh (IBFB) at a city’s club.
“People’s patience will eventually wear thin if economic and law and order situations do not improve, regardless of their support for reforms,” Debapriya said, who is also head of the White Paper preparation committee.
Debapriya said political parties are requesting an election roadmap on one hand and the interim government has committed to holding elections after necessary reforms on the other hand.
In this regard, a coordinated, effective and confidence-building mid-term plan is essential.
Issues such as the customs and tax structure, currency exchange stability, and whether interest rates on loans will decrease or not, need to be addressed together in a mid-term plan, he pointed out.
Debapriya said the interim government’s success will also depend on how it addresses the liquidity crisis in banks or economic challenges within the next six months or by the time of the budget.
“At this point, a coordinated, effective, and confidence-building mid-term plan is essential. Issues such as the customs and tax structure, currency exchange stability, and whether interest rates on loans will decrease or not, need to be addressed together in a mid-term plan,” he added.
Debapriya also stressed the importance of strengthening relationships with foreign countries.
He highlighted the need to focus not only on countries that have historically provided financial aid but also on those offering preferential market access and those from where remittances flow.
“The cost for a worker from Nepal to go abroad is three times lower than that for a worker from Bangladesh. Additionally, around $2 billion has been illegally sent abroad through hundi for foreign workers,” he added.