As Bangladesh’s interim government prepares economic reforms, a new survey from the Economic Intelligence Bangladesh (EIB) reveals that curbing corruption, controlling inflation, and rebuilding foreign exchange reserves are the nation's most critical priorities. The survey, conducted by The Business Standard in collaboration with DataSense in September 2024, gathered insights from 12 leading economists and academics across Bangladesh. A striking 42% of respondents identified fighting corruption and money laundering as the most urgent challenge, emphasizing its impact on the country’s economic stability. Prominent voices in the survey emphasized the pressing need to address corruption, with Professor Mustafizur Rahman, a distinguished fellow at the Centre for Policy Dialogue (CPD), stressing the importance of legal action. "Corruption and money laundering can be checked by proactively making use of legal means to bring the perpetrators to justice," Rahman said. He also urged the government to partner with other nations to recover stolen assets and hire internationally recognized professionals in asset recovery. "Community groups can be organized to act as watchdogs against corruption," he added. With inflation straining household budgets, 25% of the economists identified controlling inflation as a priority. Former World Bank lead economist Zahid Hussain called for immediate intervention in the food supply chain. "The interim government must prioritise controlling essential food inflation, neutralise the syndicates on extortion in the supply chain and deter collusive practices by big players in markets such as rice, flour, lentil, onions, edible oil and such other essential items." Seventeen percent of respondents emphasized the importance of rebuilding Bangladesh’s foreign exchange reserves, which have been depleted amid global economic challenges. Dr. M A Razzaque, chairman of the Research and Policy Integration for Development (RAPID), stressed the need for a market-friendly exchange rate system alongside anti-corruption measures. "Money gathered through corrupt practices is often siphoned off abroad, putting additional pressure on our reserves," he warned. Razzaque also advocated for renegotiating loan terms to ease repayment pressures and securing concessional loans with longer grace periods to support export sector development. A diversified export structure, supported by tariff rationalization, will be critical to increasing export earnings, he said. Attracting foreign investment, especially in the export sector, should also be a priority, he added. Economists involved in the survey agree that immediate and decisive action is crucial to stabilize the economy and foster long-term growth. The consensus highlights the need for comprehensive reforms to address corruption, reduce inflation, and restore foreign reserves, setting the stage for sustainable development in Bangladesh.  

The main opposition Jatiya Party lawmaker Anisul Islam Mahmud on Tuesday (February 13, 2024) demanded the government of Bangladesh put an end to the loan default culture to save the country’s economy. “In this situation, we need to stop the culture of wilful loan default,” he said. Anisul Islam, a veteran parliamentarian and the deputy leader of the opposition, placed the demand in the House, taking the floor on a point of order. Citing a newspaper story, he said the banking sector's defaulted loans soared by over 20 percent to Tk 145,633 crore in 2023 as both governance and accountability continue to get looser. 98 percent of the country's demand for medicine is produced locally: Health Minister “Whenever this issue is being discussed, we are told that Bangladesh Bank and other banks are taking measures to reduce this (defaulted loans). But we never see that defaulted loans are declining, rather it is going higher,” he said. The Jatiya Party MP said the amount of defaulted loans was Tk 28,000 crore as of 2008. The number of defaulted loans has increased to Tk 1.45 lac crore since 2008 to as of today which is very alarming. He said there is a cash crisis and a dollar crisis in the banking sector. Some strong measures have been taken to tackle this situation. With Pahela Falgun-Valentine’s Day, the nation eyes a festive February 14 Anisul said Bangladesh Bank (BB) is telling that they want to reduce the amount of defaulted loans from existing nine percent to eight percent of total outstanding loans.   “But their (BB) track record says that they will not do so,” he continued. The opposition lawmaker requested the Finance Minister to give importance to stopping the loan default culture. “The issue of loan default culture has been discussed in parliament so many times. But nothing has happened,” he added. Govt okays project to provide freelancing training to youths in 48 districts

Executive Director, Centre for Policy Dialogue (CPD) Dr Fahmida Khatun on Sunday provided an idea regarding the current picture of Bangladesh’s economy by stressing on the challenges at first. She divided the obstacles that are currently being faced by the country’s economy into two types- short term or immediate term problems and medium or structural problems. Dr Fahmida particularly mentioned the high inflation rate and low rate of foreign exchanges. Bangladesh Institute of Peace and Security Studies (BIPSS) organized the policy circle titled “Bangladesh: The Economy Under Stress” in Dhaka. The discussion focused on examining the present condition of Bangladesh’s economy and other associated factors. Assistant Professor, Department of Economics, East West University Parvez Karim Abbasi also spoke at the event. Major General ANM Muniruzzaman (Retd), President of BIPSS, moderated the event. Foreign exchange reserve is declining in the country. In a question from the moderator if the declining foreign reserve might have an impact on the food security, Dr Fahmida said, saying that a decline in foreign exchange reserve will not only affect the food security but it will also effect the sustainability of the energy security. Biman Dreamliner returns to Dhaka due to cockpit windshield crack She pointed out that due to the Russia-Ukraine war, the supply chain has been disrupted globally and the condition of Bangladesh’s economy is no exception as it is integrated with global economy. "Bangladesh has experienced and is still experiencing high inflation,” she said. Dr Fahmida also highlighted that Bangladesh’s reliance on imports is exacerbating the current economic challenges. She mentioned that in the last year the country has witnessed very little FDI which is not sufficient. She cited that according to a research study conducted by CPD, 67% people surveyed in the private sector felt that corruption is the number one hindrance to doing good business in Bangladesh. She even conveyed a sense of concern as both exports and flow of remittance in the country have been decreasing. Again, she voiced apprehension about how the dominance of businessmen is being prevalent in the politics of the country and how good politics has ended overtime due to this. Parvez Karim Abbasi focused on the issue of rising income inequality among the citizens of Bangladesh. He brought up the point that the poverty rate affects 1 out of every 7 individuals of the country. This clearly shows a great disparity in terms of income level and wealth concentration. Gas supply to improve in Dhaka, adjacent areas in a day or two : Nasrul He also mentioned that the rising level of unemployment among youth is constraining the possibilities of upgrading the current economic condition of the country as substantial portion of the labor force of Bangladesh is made up of youth. “Roughly 36% of our labor force comprises people between 18 to 30 years of age”, he said. Parvez also underscored the significance of various other factors such as rising public debt, non-performing loans, systematic weaknesses in the banking sector etc. which are contributing to the decline of economic growth of the country. In his opinion, focus should be on the RMG sector and increasing the flow of remittance as these two important sectors are in threatening condition. The interactive session covered some critical assumptions and exchange of conversations among the honorable guests and the panelists including redefining poverty, ways to solve the economic stress, inflation and mega-projects. Questions were raised about banking sector governance and how important it is to bring back discipline in this sector. Concerns were also raised about the high volume of non-performing loans. Bangladesh now has over 12.17 crore voters: EC's latest draft update The panelists felt that this should be curbed with proper regulatory mechanisms and controlled by the central bank. They also felt that one of the reasons for a lower flow of remittances is the fluctuations in the rate of foreign currency. Muniruzzaman wrapped up the session by articulating that the current economic challenges can be overcome by ensuring accountability, transparency and establishing democratic governance. Ambassadors and Diplomats based in Dhaka, former Bangladeshi Ambassadors, representatives from international and business organizations, academicians and journalists attended the event.

Bangladesh’s three big challenges in the fields of economy, international relations, and politics are likely to get deeper centering the January 7 parliamentary elections, Dr. Debapriya Bhattacharya, distinguished fellow of Centre for Policy Dialogue has said. “Bangladesh today stands on the edge of a deep ditch,” he said adding that the problems faced by the country are likely to worsen if the upcoming polls become one-sided. The eminent economist shared his views on a wide range of issues from ongoing political unrest to economic situation and to international interest in an interview with UNB in Dhaka this week. 208 vehicles set on fire across the country since Oct 28 Political unrest and a one-party election will deepen the uncertainty in the economic sector further as around 80 percent population of Bangladesh wants a fair and internationally acceptable election that is very much needed for sustainable economic growth, Dr Debapriya said. Regarding elections without the participation of big political parties, he said the Election Commission is creating political parties giving registration as per their wish. The country is now getting the attention of global powers as they have different interests here. They are watching whether the upcoming election will be like previous ones or inclusive and participatory. Regarding economic challenges, he said people have been bearing the brunt of inflation for a long time, while many countries have improved in this sector after the pandemic and during the Russia-Ukraine war. Here the food inflation is around 12 percent and inflation in rural areas is more than in the urban areas, which was not seen earlier, he noted. Tilted Ctg building: 7-member probe body formed According to him due to the continuous slide of the domestic currency taka, people have to face imported inflation.  There is no visible sign of reducing this type of inflation in the recent months, Dr Debapriya said. He said the revenue generation fell severely due to an import decrease by one-fourth in recent past years. He said the inefficiency of the revenue board has resulted in low collection of revenue.  The government cannot implement already promised development work at the local government level, even in the election year, he mentioned. This stagnation will not go until an inclusive and free fair parliamentary election, which is necessary to establish accountability in every sector- is held, he said. He said the drastic fall of imports pushed price hikes in the domestic market and a group of syndicates using this as an option for raising prices. The revenue shortfall is widening, corruption and money laundering not reducing despite raising individual and overall income, which is happening due to lack of accountability. The government cannot ensure accountability at the top to bottom level as they are dependent on bureaucrats and state agencies in absence of political and moral legality, he pointed out. Not only that but also some influential countries are interfering in the domestic matter of Bangladesh, which never happened earlier. All of these are the outcome of faulty elections here and they (foreigners) are taking political disagreement and lack of moral legality of the government as an opportunity, he opined. Regarding the legitimacy of past elections Dr Debapriya said those elections had been legal in consideration of the constitution, but there was a lack of political and moral legality, he said. 20-year-old dies falling from 8-storey building in Dhaka’s Sher-e-Bangla Nagar A country becomes stronger when its independent state organs are strengthened, he said adding in Bangladesh both the constitutional institutions and other state agencies are playing a biased role. Regarding labour rights, Dr Debapriya said the Western world expresses concern over the working environment, illegal harassment, and forced disappearance of labour rights activists. Western people, who are the buyers of Bangladeshi garments and other goods, are very much conscious and concerned about these issues.   Bangladesh has to reform many areas, such as recovery of huge defaulted loans, reduce money laundering, ensure decent working environment and express their views without fear, he said. In the diplomatic sector, the country has to balance with global power keeping in mind that export destination of Bangladeshi goods, manpower, and remittances.

Bangladesh received inward remittances of $1.97 billion in July, the first month of Fiscal year 2023-24, which saw a decline on year-on-year basis by 5.86 percent. According to Bangladesh Bank (BB) data, the expatriates sent $2.19 billion remittance in June last month of FY23, saw a fall by 10.27 percent in July. Despite the fall in remittance inflow in July, the central bank officials described it as better than other months. $21.61 billion remittances in FY23, second highest ever Md Sarwar Hossain, a spokesman of the BB, told UNB that the expatriates sent a higher volume of remittances in June thanks to  Eid-ul-Azha. Bangladeshi expatriates sent $21.61 billion in remittance in the last fiscal year FY23 (June-July). In the previous FY it was $21.03 billion. Remittances pick up pace ahead of Eid-ul-Azha

To address the present crisis on the economic front and ensure resilient, inclusive, and sustainable growth, the government of Bangladesh has adopted several reform initiatives to be implemented in the medium term (2025-26). The significant reform actions include: Revenue Mobilisation, Improved Expenditure Management, Monetary and External Sector Management, Financial Market Regulation and National Income Accounts, according to a budget document. The government has focused on reforms in tax policy and revenue administration. The plan is to mobilise additional tax revenue of about 1.7 percent of GDP by the end of FY 2025-26. Currently, the tax-to- GDP in the country is below ten percent. Read: Bangladesh’s economy has a dignified position now: PM Moreover, the government is focusing on untapped areas in the tax-revenue sector to enhance overall revenue while also emphasising non-tax revenue sources. The document states that fiscal management has become increasingly complex due to elevated and unpredictable inflation that has the potential to undermine the soundness of financial institutions and fiscal operations. The uncertainty surrounding prices, wages, and interest rates influence inflation through aggregate demand and expectations, which in turn posed challenges to fiscal planning and budgetary preparations. Read: 1st Circular Economy Summit in Dhaka on June 15 Besides rationalising the subsidies, there is a plan to bring down the cost of borrowing and bring efficiency in debt management, the document said. It said that the net National Savings Certificate (NSC) issuance is planned to be brought down to below 1⁄4 of total net domestic financing by FY26. The government plans to optimise cash management by expanding the coverage of the treasury single account (TSA) and the use of electronic funds transfer (EFT). Read: Govt to introduce circular economy to prevent plastic pollution: Minister    Several reform measures have been implemented including the reduction of interest rates of saving certificates, the introduction of tiered interest rates, capping issuances, and increasing taxes on earned interest, all aimed at reducing the government's interest expenditure. In FY 2021-22, the contribution from national savings certificates accounted for 0.5 percent of GDP, a decrease from 1.2 percent in FY 2020-21. Efficient cash management is also a priority to save public funds by minimising interest expenditure. To achieve this, the government is strengthening and expanding the Treasury Single Account (TSA), which is expected to facilitate better cash management, reduce interest expenses, and improve commitment controls. Read more: Increased import costs putting pressure on economy in many ways: Minister In the Monetary and External Sector Management segment, to improve monetary operations, Bangladesh Bank will adopt an interest rate corridor system. Furthermore, to increase exchange rate flexibility, Bangladesh Bank will use market-determined exchange rates for official foreign exchange transactions on behalf of the government. To strengthen the external sector balance and improve monetary sector performance, Bangladesh Bank is going to implement several reform initiatives in the medium term. Read more: Budget not based on IMF conditions: Finance Minister There will be reform activities to unify the multiple exchange rates and bring more discipline to the foreign exchange market. Bangladesh Bank will reverse the temporary margin increases for opening letters of credit on nonessential imports. The official budget document says that “With a view to establishing a risk-based banking supervision system, Bangladesh Bank will complete the pilot risk-based supervision action plan.” Read more: CPD dismisses budget's projections on growth, inflation, revenue collection Also, it mentions that to improve governance and discipline in the financial market, the government will amend the Bank Companies Act and Finance Companies Act in line with best practices. The amended Bank Companies Act was accordingly passed last week. For better transparency, Bangladesh Bank will publish banks' distressed assets in the annual financial stability report. Bangladesh Bureau of Statistics has taken the initiative to publish quarterly GDP for having a clear view of national income accounts. Read more: Doing our best to keep economy going amid global recession: PM Hasina

There is a reason why jackfruit is Bangladesh's national fruit. It grows in abundance across the country, particularly in the highland areas. Madhupur and Bhawal are among the top areas where jackfruit production is high. Once considered a backyard fruit, jackfruit now has the potential to become an export item - offering new economic opportunities and providing a sustainable food source for the population. In this article, we will explore how jackfruit can become a game-changer. Why Jackfruit? According to the Bangladesh Bureau of Statistics, about 1.5 million metric tons of jackfruit are produced in Bangladesh every year. Researchers observed that in the last few years, about 45% of this total production, i.e., about 5 lakh tons of jackfruit were wasted.  During jackfruit season, fruits like mango and litchi are available in the market, and it is difficult to process jackfruit for eating as compared to these fruits. Most people in Bangladesh think that jackfruit can only be eaten when it is ripe. There is a lack of interest in consuming unripe jackfruit. So a large part of the jackfruit produced in Bangladesh is wasted every year.  Read More: Delicious Jackfruit Recipes to Try Out Today Keeping these issues in mind, researchers are trying to make food products with jackfruit that are easy to preserve for several months. Thus, they are aiming to reduce wastage and open up new economic prospects for the country. Products Made Using Jackfruit In recent times, various types of delicious foods are being prepared from jackfruit in Bangladesh, which includes jackfruit jam, pickles, chutney, chips, cutlets, ice cream, curd, ready-to-cook jackfruit, fresh cut (vegetable meat), jackfruit powder, and various other packaged products. Bangladesh Agricultural Research Institute has developed these products for the first time in Bangladesh. Customers can find these products in several supermarkets and retail markets across the country. Between 2019 and 2022, the Bangladesh Agricultural Research Institute partnered with NewVision Solutions Limited to carry out a three-year research program, titled "Jackfruit Postharvest Loss Reduction and Marketing Strategy". The objective of this program was to prevent the wastage of jackfruit and explore its various uses. Read More: 7 Nutritious, Delicious Jackfruit Recipes for Curries, Snacks, Salads As part of the project, the Bangladesh Agricultural Research Institute provided training to around 700-800 individuals on the production and marketing of jackfruit. These individuals are now engaged in producing a variety of jackfruit products. Additionally, the institute is also offering free training to anyone who is interested in learning more about producing jackfruit products. Initially, the researchers focused their efforts on studying four products, namely jackfruit chips, pickles, fresh cuts, and dried products, as part of the project. However, they have now come to realize that jackfruit can be utilized as a resource for over 30 different products. According to researchers, the market demand for fresh-cut or unripe jackfruit is higher than that for other jackfruit products. This benefits farmers, as a single jackfruit that would usually sell for Tk 60-70 can be sold for Tk 200-250 as fresh-cut jackfruit. Read More: Corona, Amphan: Popular jackfruit haat in Jashore takes a hit Currently, a range of food items, such as unripe jackfruit vegetable rolls, cutlets, and shingara, are being prepared in the market. Meanwhile, ripe jackfruit juice is being used to make ice cream, cakes, and fruit roll-ups. In addition to that, these products made using jackfruit are already creating employment in the country. On the other hand, there is a demand for these products in the international market as well.

A recommendation from Egypt’s government – to eat chicken feet – has come under vehement criticism from the country’s citizens. Egypt, the most populous country in the Arab world, is currently experiencing a record currency crisis and the highest inflation in five years, which has made food so costly that many Egyptians are no longer able to purchase chicken, a staple item. The most recent dietary advice from the state recommended preparing chicken feet, a protein-rich part of the bird that is often kept for dogs and cats, according to a BBC report published yesterday. Egypt is one of the countries suffering the most from skyrocketing inflation, which surpassed 30 percent in March. Read More: Argentines struggle to make ends meet amid 100% inflation Cooking oil and cheese, which were once reasonable necessities for many, have become unaffordable luxuries. Some product prices have doubled or tripled within a matter of months. The BBC report quoted Wedad, a mother of three in her 60s, as saying: “I eat meat once a month, or I don’t buy it at all. I buy chicken once a week.” Egypt is under a lot of strain in part because it relies significantly on imported food rather than homegrown agriculture to support its over 100 million-strong population. Even the grain used to feed the chicken is imported. Read More: Why another high inflation report may not cause Fed to hike In comparison to the US dollar, the Egyptian pound lost half of its value over the course of a year. As the government depreciated the currency once more in January, the price of imports such as grain rose dramatically. President Abdel Fattah el-Sisi frequently attributes his country's present economic troubles on the chaos that preceded the 2011 Egyptian revolt and fast population growth. In addition, he mentions the epidemic that followed the conflict in Ukraine. The Russian invasion of Ukraine had a devastating effect on Egyptian economy. Egypt is the second largest wheat importer in the world, and the two countries were its principal suppliers. As a result of the disruption of exports due to the war, price of wheat and bread skyrocketed. Russian and Ukrainian tourists used to visit Egypt in droves; the tourism industry has also suffered financial losses. Tourism, which used to account for around 5% of Egypt’s GDP, has been severely impacted by the Covid-19 pandemic. Read More: In the EU’s inflation crisis, the humble egg takes the cake Egypt has requested a bailout from the International Monetary Fund four times in the previous six years due to its economic difficulties. These debts, which account for 90% of GDP, consume nearly half of the state’s revenues. Gulf nations such as the United Arab Emirates and Saudi Arabia have purchased state assets and are aiding Egypt, but they have also toughened their requirements for future investments.

Matarbari could become a regional commercial hub after the deep sea port opens. It will be used as a transshipment port. After Chittagong port, Matarbari will also be a lifeline of the economy. The Matarbari deep sea port will serve about 3 billion people of the region, including Bangladesh. Once fully operational, the port will contribute two to three percent of the country’s GDP, State Minister for Shipping Khalid Mahmud Chowdhury told UNB. The deep sea port is now visible. If work continues at this pace, Matarbari deep sea port could be operational from 2026. Construction of the jetty and container yard will start by July. A large number of feeder vessels will come to this port. Money and time will be saved. It will have a great impact on the economy, said the state minister for shipping. He said the port is being constructed on 1,031 acres of land at Matarbari Dhalghat area of Maheshkhali in Cox’s Bazar. With the construction of the deep sea port, container ships with a capacity of 8,200 TEU will be able to anchor there. Read more: Operation of Matarbari deep sea port to start in 2026: state minister At present, it takes 45 days to send a consignment of goods from Bangladesh to the United States. Once Matarbari deep sea port is opened, it will reach the designated destination directly in just 23 days, the state minister said. Bangladeshi consignments will no longer have to wait at the ports of Singapore, Colombo and Malaysia. According to the Chittagong Port Authority, commercial activities at Matarbari deep sea port are expected to start in full swing in 2026. But already over the last two years, 112 cargo ships have arrived at the port. Tk 6.84 crore has been collected from these ships. All equipment for power plant has come through Matarbari port. Due to the depth, any large commercial ship will be able to anchor at this port and there are all kinds of facilities for loading and unloading. Matarbari is 34 nautical miles from Chittagong port. It takes two-three hours to reach by ship. Its distance by road is about 112 km. A 27 km road is being constructed from Chakaria in Cox’s Bazar to Matarbari Dhalghat. Meanwhile, land acquisition for the construction of roads and port has been completed. The channel built for the port is 250 meters wide, 18.5 meters deep and 14.3 meters long. Read More: Ambassador Lee visits Matarbari Coal-powered Plant to observe South Korean company’s construction work The detailed design of the project has been completed. Besides, contractors are being appointed for the construction of the jetty, collection of ship handling equipment and the purchase of tug boats. Prime Minister Sheikh Hasina will formally inaugurate the construction work of the project in the middle of this year. Chittagong Port Authority Chairman Rear Admiral M Shahjahan told UNB that Matarbari’s distance from Chattogram by sea is 34 nautical miles, from Payra port it’s 190 nautical miles, and from Mongla port it’s 240 nautical miles. Therefore, goods from the mother vessel (large container ship) in Matarbari can be transported to other ports by road and sea in a short time. He also said at present, ships with a draft of only 9.5 metres can berth in the jetties of Chittagong port. However, recently a ship with 10-metre draft has been berthed there. But these ships can carry 800 to a maximum of 2400 TEU containers. A mother vessel has a capacity of 8,000 to 10,000 TEU. Once Matarbari deep sea port opens, container ships with a capacity of over 8,000 TEU will be able to anchor. Read More: Operation of Matarbari deep sea port to start in 2026: state minister The state minister for shipping said the Matarbari Port Development Project has been taken up at an estimated cost of Tk 17,777.20 crore to set up the country’s first and only deep sea port. The duration of this project is till December 31, 2026. After the approval of the project, the implementation process was started. He also said the construction of the 14.30 km long approach channel with a length of 350 metres and a depth of 16 metres has been completed for the construction of the deep sea port. Besides, the construction of 2,150 metre long breakwater on the north side of the approach channel and 670-metre-long breakwater on the southern side has been completed. At present, tenders have been invited in three packages for the construction of a 460 metre long container jetty and a 300 metre long multipurpose jetty and construction of all port facilities, including container yards. According to project sources, Matarbari port road is being constructed in three phases. A 27 km road from Matarbari to Fasiakhali in Chakaria will be constructed and it will be connected to the Chattogram-Cox’s Bazar four-lane highway. The construction period of the road has been fixed from January 2020 to December 2026. If this road is completed, goods can be transported to any place in the country by road. Read More: Govt positive about Singapore company's 400MW Matarbari solar power plant proposal: Nasrul

Prime Minister Sheikh Hasina on Sunday said her government has been trying its best to keep the country's economy vibrant even though the world is going through an economic recession. “When the whole world is passing through a recession caused by the Covid-19, the Ukraine war and others, our effort is to keep our economy vibrant. We’re trying our best to do so,” she said. The premier was addressing a commemorative discussion on the death of her former political adviser Dr SA Malek through a virtual platform from her official residence Ganabhaban. Bangabandhu Parishad arranged the discussion in the city’s Kalabagan area to commemorate its president Dr  Malek, who died on December 06, 2022. Hasina said her government has been building Bangladesh with the ideals of Father of the Nation Bangabandhu Sheikh Mujibur Rahman. Read: Sale of antibiotics without doctor’s prescription must be stopped: PM “We have been able to transform Bangladesh into a developing country. One day this Bangladesh will be built as a developed and prosperous country," she said. The PM recalled the contribution of Dr Malek in implementing the ideology of Bangabandhu and spreading the spirit of the Liberation War.  “He was always very sincere to implement the ideology of Bangabandhu and bear the spirit of the Liberation War,” she said. She said Dr Malek is one of thr few persons who played the key role to put forth the ideology of Bangabandhu before the people. “He put forth the ideology of the Father of the Nation before the people even amid many adversities,” she added. The premier said Bangabandhu Parishad was formed to protest the assassination of Bangabandhu and raise his ideology before the people after the 1975 15th August carnage.  "Dr SA Malek is one of them who played a key role to put forth the ideology of Bangabandhu before the people," she said. Read: PM unveils Duranta Biplob’s book on Bangabandhu   Hasina said the late leader played a great role in making the people familiar with the term of "Second Revolution" launched by the Father of the Nation. She said Dr Malek and former Dhaka City mayor late Mohammad Hanif played the most significant role in electing her the President of Awami League (in 1981) as they created public opinion and took it to the party forum. The PM said she even scolded Dr  Malek for insisting time and again she became president of the Awami League. Noting that Dr Malek is a politically conscious person,  Hasina said he had a role in each of the country's democratic and progressive movements. Recalling the contribution of Dr Malek in the Liberation War, she said, "He fought with great bravery in the battlefield during the War of Liberation in 1971 by taking arms." In this connection, she recalled the contribution of Dr Matin Chowdhury and others to form the Bangabandhu Parishad. Former Dhaka University Vice Chancellor and also acting President of Bangabandhu Parishad Dr AAMS Arefin Siddique presided over the function. Senior journalist and presidium member of Bangabandhu Parishad Ajit Kumar Sarker presented a keynote paper titled "Dr S A Malek: Courage Personified and Shaped by Bangabandhu's Ideals" at the function. Dhaka University Vice Chancellor Prof Dr Md Akhtaruzzaman, former Rajshahi University Vice Chancellor Prof Dr Md Abdul Khalek and Dr SA Malek’s son and also physician at Bangabandhu Sheikh Mujib Medical University Sheikh Abdullah Al Mamun, spoke at the discussion.