Reform stagnation threatening economic progress must not go on
Bangladesh’s impressive economic and social strides over the past five decades risk being overshadowed by a persistent failure to deliver meaningful and sustained reforms.
Our newspaper reported on Sunday that at the launch of ‘The Economy of Scandal’ in Dhaka, Dr Debapriya Bhattacharya of the Centre for Policy Dialogue (CPD) offered a stark reminder: reforms in Bangladesh are often slow, inconsistent, and left incomplete.
This critique is neither new nor unwarranted. Policy changes in Bangladesh frequently emerge as fragmented responses to crises, rather than as part of a coherent, long-term strategy.
Too many initiatives stall midway or are abandoned altogether, leaving structural inequalities unaddressed and systemic inefficiencies intact.
As Dr Bhattacharya rightly observed, the nation’s governance remains dominated by powerful interests, with the marginalised too often excluded from decision-making and the benefits of development.
The expansion of social protection to 40 per cent of the population is noteworthy, yet far from sufficient. More than half of the vulnerable population—56 per cent—remains excluded from these safety nets.
Recent budgetary shifts away from targeted welfare schemes, such as rural family cards and direct cash transfers, further exacerbate this exclusion.
Instead of bolstering support for the rural poor, policy has tilted towards broad, market-based mechanisms like Open Market Sales (OMS), which offer limited relief to those most in need.
Dr Bhattacharya’s comparison with the 2007–08 caretaker government is telling.
That period saw a deliberate attempt to direct resources towards the marginalised, with a focus on reducing inequality.
Today, however, fiscal policy appears increasingly politicised, with public expenditure skewed towards the urban middle class, likely as a means of consolidating political support and dampening dissent.
A recurring theme in Dr Bhattacharya’s remarks was the vital role of independent journalism and civil society in sustaining democratic accountability.
A weakened press, he warned, leads to a fragile civil society, and without accountability, sustainable economic progress is impossible. This is a truth that policymakers can no longer afford to ignore.
Bangladesh’s future growth will depend not just on economic output, but on the inclusivity and transparency of its governance.
Reform cannot remain an unfinished agenda; it must be pursued with consistency, urgency, and a focus on the most vulnerable.
Only then can the nation’s achievements translate into equitable, sustainable development for all.