United News of Bangladesh

Former Director General of the Bangladesh Institute of Development Studies (BIDS) Dr KAS Murshid on Monday warned weak reform delivery and institutional gaps remain major barriers to sustained development. “Ensuring macroeconomic stability in Bangladesh requires stronger attention to micro-level realities, institutions and implementation capacity,” he said. Speaking at a discussion titled “Macroeconomic Insights: An Economic Reform Agenda for the Elected Government”, he said policymakers often focus on macro indicators such as interest rates, inflation and balance of payments, but tend to overlook the “micro foundations” that underpin them. “In a development context, neglecting critical micro variables in the real sector, markets and institutions can quickly destabilise the broader economy,” he said. The Policy Research Institute of Bangladesh (PRI) and Department of Foreign Affairs and Trade (DFAT) of the Australian Government jointly organized the event. Murshid noted that sudden shocks at the micro level, such as a sharp rise in food imports, can significantly affect the country’s external balance, illustrating how closely linked macroeconomic stability is with sectoral performance and institutional efficiency. Highlighting Bangladesh’s reform experience, Dr Murshid observed that major policy reforms historically gained momentum mainly during periods of external pressure, particularly when backed by international financial institutions. Political economy constraints and fear of backlash often discourage governments from initiating difficult reforms independently, he said. However, with the country preparing for LDC graduation and facing gaps in achieving the Sustainable Development Goals, he stressed that the need for urgent reforms will increasingly come from internal pressures rather than external compulsion. “Macroeconomic stability is far more complex than maintaining a few indicators. It depends on how effectively institutions, markets and the real sector function together,” he said. He emphasised that the main challenge is not identifying reforms but delivering them. While successive governments have spoken about initiatives such as one-stop services, special economic zones, financial sector restructuring and public service digitalisation, actual progress has been limited and often partial. Even in areas presented as successes, such as digitalisation, he said systems frequently revert to manual processes, undermining intended efficiency gains. To address implementation gaps, Dr Murshid suggested focusing on a limited number of core reforms instead of attempting sweeping changes across all sectors simultaneously. Demonstrating success through targeted efforts could build public confidence and create momentum for broader reforms, he said. He also proposed establishing an independent regulatory reform commission to research policy options, assess reform proposals and provide objective evaluations. According to him, the absence of a neutral third-party mechanism means the same institutions are responsible for designing, implementing and monitoring reforms, which weakens accountability. Another major gap, he said, is the lack of structured mechanisms within ministries to review policy recommendations coming from economists, researchers and the private sector. Although many proposals are submitted, there is often no systematic process to assess them or translate them into action. He stressed that reforms must clearly identify who benefits, whether youth, women, workers or specific income groups, rather than assuming that all projects help everyone equally. Policymakers also need to pinpoint the main constraints in each sector, such as access to credit, infrastructure deficits, skills shortages or political resistance. Pointing to resistance from vested interests, he said even relatively small changes, such as reforms in traffic management systems, can face strong pushback. Without proper stakeholder engagement and complementary policy measures, new initiatives risk failure. He suggested piloting reforms on a small scale to test effectiveness before scaling them up nationwide, especially when introducing new approaches. At the same time, the government can reactivate underperforming existing projects where spending has been high but outcomes remain limited. Restoring confidence in the economy will also be critical, he said, noting that uncertainty around elections and the broader political environment has held back private investment. Preventing instability and maintaining policy continuity will be key to encouraging investment in the coming months. He added that changing global geopolitics and economic shifts will require Bangladesh to diversify its economic base over time, although this transition will not be immediate. Beyond economic indicators, Dr Murshid warned that social challenges could undermine development gains if not addressed. Youth unemployment, growing social tensions and rising concerns over issues such as online gambling, gang activity and gender-based violence pose risks that can weaken the micro foundations of the economy. “These social dimensions are not separate from the economy. They shape the very base on which stability rests,” he said, adding that the next government will need to address these concerns alongside economic reforms to ensure sustainable progress.  

Remittance inflows to Bangladesh have seen a massive spike in February ahead of election and Ramadan, expatriates sent US $1.03 billion remittance in the first 8 days of the month. Arif Hossain Khan, spokesperson for Bangladesh Bank, told UNB on Monday, expatriates sent $1.03 billion in the first 8 days of February. In the same period of February in 2025, expatriates sent $671 million. It means remittance growth by 53.9 percent in 8 days February this year, compared to the previous (2025). Bangladesh so far in the current fiscal year FY2025-26, received $20.46 billion, which was $16.63 billion in FY 2024-25. It means remittance growth by 23 percent in 7 months of FY 2025-26. Bangladesh sees remittance surge to $2.71 billion in January

Bangladesh’s markets have enough key food items ahead of Ramadan and traders say steady supplies should help keep prices stable during the fasting month. They made the remarks at a stakeholders’ meeting in Motijheel reviewing the import, stock, supply and price situation of essentials for Ramadan. At the meeting, the traders assured the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) that there is no scope for abnormal price hikes during the holy month. Leaders of retail and wholesale market associations said sufficient stocks of edible oil, sugar, onion, pulses and other daily necessities are available in the country. They noted that maintaining smooth supply would keep prices stable, while urging authorities to strictly curb extortion at different stages of the supply chain. Consumers were also requested not to engage in panic buying that could create artificial pressure on the market. Traders further appealed to the Ministry of Commerce and relevant authorities, through FBCCI, to stop harassment of retailers in the name of market monitoring during Ramadan, arguing that small traders are not responsible for market instability. They called on importers and large corporate entities to ensure uninterrupted supply of essentials. FBCCI Administrator Md Abdur Rahim Khan said this year’s Ramadan is particularly important as it will begin just days after the 13th national parliamentary election. “Considering public interest, business leaders and trade bodies must act with greater responsibility,” Rahim said, adding that large industrial groups should ensure steady supply and market monitoring should not turn into harassment. He said FBCCI would place the meeting’s observations before the appropriate authorities. Bangladesh Sugar Traders Association President Md Abul Hashem said there would be no sugar shortage if mills ensure timely supply. He added that alongside corporate imports, government-led sugar imports would enhance competition and help keep prices affordable. Bangladesh Wholesale Edible Oil Traders Association President Md Golam Maula urged the government to strengthen oversight at the importer and large corporate level, rather than focusing market monitoring only on retailers, to keep prices stable. Meghna Group of Industries Deputy General Manager Taslim Shahriar said adequate stocks of edible oil and sugar are available to meet Ramadan demand. He, however, cautioned that port operations, transportation and customs clearance could face some disruption due to election-related holidays, though no other supply-chain constraints were anticipated. Leaders of kitchen market associations also indicated that prices of vegetables and other perishables would remain within consumers’ reach during Ramadan, noting that prices of all vegetables—except lemon—are currently normal. While traders expressed optimism, market analysts voiced caution; Consumer Association of Bangladesh (CAB) General Secretary Advocate Humayun Kabir Bhuiyan warned of potential risks, citing possible energy shortages during Ramadan and the post-election transition period, which could weaken market oversight and allow unscrupulous elements to exploit the situation. Representatives from FBCCI’s general council, various trade bodies, Bangladesh Bank, the Ministry of Commerce, National Board of Revenue, Trade and Tariff Commission, Directorate of National Consumer Rights Protection, Competition Commission, TCB and several agriculture and livestock departments, along with industry representatives, were present at the meeting.

The Council of Advisers in a special meeting on Monday approved the drafts of the Bangladesh Public Service Commission (BPSC) (Amendment) Ordinance, 2026, the Bangladesh National Qualifications Framework (BNQF) Policy, 2026 and the National Fisheries Policy, 2026. The approvals came during the 10th special meeting of the Council of Advisers held at the Chief Advisers' Office (CAO) with Chief Adviser Prof Muhammad Yunus in the chair. Chief Adviser's Press Secretary Shafiqul Alam later briefed reporters at the Foreign Service Academy, highlighting the outcomes of the meeting. The Council also approved a proposal to ratify the implementing agreement between the Qatar Armed Forces and the Bangladesh Armed Forces concerning the deputation (secondment of officers, military personnel and civilians). Meanwhile, policy-level approval was given to recommendations submitted by the Bangladesh Economic Zones Authority (BEZA) from the report of a committee on the establishment of a Bangladesh Free Trade Zone. Explaining the BNQF Policy, Alam said the framework has been designed as a dynamic and inclusive qualification pathway. The key objectives of the policy are to clearly define qualifications across all streams of education-general, technical and madrasah-at every level. Prof Yunus sees renewed global confidence in Bangladesh democracy He said the policy aims to create an open and flexible qualification system that supports lifelong learning through recognition of prior learning and learning transfers, enhances employability and facilitates both vertical and horizontal mobility of workers across institutions, sectors and countries. The framework will ensure national, regional and international recognition of qualifications, enable comparability and equivalence of learning outcomes, and establish clear entry and exit pathways between different education systems. The BNQF Policy is intended to guide human capital development and help determine learners' education and career trajectories.

Centre for Policy Dialogue (CPD) Executive Director Dr Fahmida Khatun on Monday underscored the need for comprehensive economic reforms, stronger institutions and a greater focus on employment generation to sustain Bangladesh’s development momentum. She said this while speaking at a programme titled “Macroeconomic Insights: An Economic Reform Agenda for the Elected Government” held at a hotel in the capital this afternoon. The Policy Research Institute of Bangladesh (PRI) and Department of Foreign Affairs and Trade (DFAT) of the Australian Government jointly organized the event. The discussion was attended by Finance Adviser Dr Salehuddin Ahmed as chief guest, along with leading economists, policymakers and representatives from development partners. Presided over by Chairman of the PRI Dr. Zaidi Sattar, Dr. KAS Murshid, Former Director General of Bangladesh Institute of Development Studies (BIDS), Clinton Pobke, Deputy High Commissioner, High Commission of Australia to Bangladesh, spoke as special guests. Dr. Ashikur Rahman, Principal Economist, PRI, made the keynote presentation. Dr. M. Masrur Reaz, Chairman and CEO, Policy Exchange Bangladesh (PEB), spoke as distinguished panelists. Dr Khatun said Bangladesh’s development achievements over the years — including reductions in poverty, improvements in per capita income and social progress — had long been recognised internationally as a success story. Despite governance limitations, the country managed to make notable gains in economic and social indicators. “But the momentum weakened over time due to inherent structural weaknesses,” she said, pointing to low investment efficiency, a weak tax system and inadequate attention to reforms. She observed that reforms are often unpopular and require strong political commitment and bold leadership to implement successfully. Referring to ambitious economic targets set by political parties, she said achieving a one trillion-dollar economy by 2034 would require around 9 percent sustained annual growth for nearly a decade. Similarly, reaching a two trillion-dollar economy by 2040 would demand even higher growth over a longer period. She questioned whether Bangladesh currently has the institutional strength, governance standards, skilled human resources and technological readiness needed to sustain such high growth rates. “Without structural reforms, these targets will remain difficult to achieve and the economy will continue to move in circles,” she said. Highlighting key reform areas, Dr Fahmida Khatun mentioned public finance management, fiscal framework, trade and investment climate, and the financial sector. She, however, placed special emphasis on employment, describing it as one of the most pressing challenges. She said recent public movements had been largely driven by demands for jobs, noting that the public sector can absorb only about 5 percent of total job seekers, while the economy has failed to generate sufficient employment opportunities. “Growth without jobs has little meaning,” she said, adding that inequality has also increased alongside economic expansion. She referred to the Gini coefficient approaching 0.5, indicating widening income disparity. She pointed out that about 40 percent of the labour force is still engaged in agriculture, much of it seasonal and informal. While the service sector contributes over half of GDP, it has not created enough quality jobs. The manufacturing sector, which could provide stable and better-paid employment, has also fallen short in generating adequate opportunities. She noted that a significant portion of Bangladeshi migrant workers are employed abroad in low-skilled or semi-skilled roles, which limits income potential and long-term benefits. Stressing the need for labour market reform, she said the country must prioritise manufacturing expansion and skill development to create decent jobs. She also raised concerns about the mismatch between education and employment. Although about two million young people enter the job market each year, employers often struggle to find suitably skilled candidates. Youth unemployment remains significantly higher than the national average, and the rate among those not in employment, education or training is even higher. “The higher the level of education, the higher the unemployment rate in some cases. This shows a serious skills mismatch,” she said. Dr Fahmida Khatun called for increased budget allocations for education and improvements in quality, governance and training facilities. She made similar observations about the health sector, saying low spending and poor utilisation of resources weaken the workforce’s productivity. She also highlighted the importance of social protection, particularly at a time when inflation has remained high since 2023 while wages have not increased at the same pace. With investment slowing and job creation lagging, she said support for low-income groups is essential. However, she warned that expanding social protection requires adequate fiscal space. The declining tax-to-GDP ratio remains a major challenge in mobilising resources for social programmes. Referring to various election pledges, including family cards and farmer support schemes, she said such initiatives would require a strong fiscal strategy and comprehensive public finance reforms to ensure sustainable funding. Dr Fahmida Khatun concluded by stressing the need for an integrated reform agenda focused on employment, education, health and fiscal management to support long-term economic stability and inclusive growth.  

Deputy High Commissioner of the High Commission of Australia to Bangladesh Clinton Pobke has expressed strong optimism about Bangladesh’s economic prospects, saying the country has the potential to achieve sustained high growth if ongoing reforms are strengthened and institutionalised. Speaking at a discussion hosted by the Policy Research Institute (PRI) in Dhaka, Pobke praised the role of the think tank in generating data and policy analysis, describing its work as vital for informing policymakers and engaging the public. “It’s wonderful to see so many people here tonight for this discussion,” he said, noting that he had closely followed PRI’s activities over the past year. He said such events create space for open debate and allow diverse voices from across society to exchange ideas and perspectives. The Australian diplomat also acknowledged the contributions of Bangladesh’s economic community, including professionals in government, academia, think tanks, the private sector and industry groups, calling them a “true asset for the country.” While making it clear that it is not his role as a foreign diplomat to prescribe policy solutions, Pobke reflected on Bangladesh’s underlying economic potential and the significance of the country’s current moment. He described Bangladesh’s growth trajectory since independence as remarkable, pointing out that the country has consistently maintained annual growth rates of 5 to 6 percent despite various challenges and periods of instability. Referring to global development frameworks, he said several foundational policy elements often associated with strong economic performance were not historically prominent in Bangladesh, yet the country still achieved steady expansion. According to him, if a future government is able to strengthen these core foundations, Bangladesh could realistically sustain growth of 8 to 10 percent and emerge as a major economic powerhouse. Pobke highlighted several reform initiatives undertaken over the past 18 months, including changes in exchange rate management, regulatory steps in the banking sector such as the bank resolution regime, measures to reinforce central bank independence, reforms in the energy sector, and improvements in tax administration and governance. He also noted that judicial reforms, including the recent establishment of commercial courts, could have significant economic benefits by improving the business climate and strengthening confidence in the rule of law. However, he stressed that these measures should be seen as initial steps rather than final achievements. Implement bold economic reforms to stay globally competitive: Dr Zaidi “If Bangladesh is to reach 8, 9 or even 10 percent economic growth, these reforms must be locked in and carried forward,” he said, adding that one of the key challenges for any incoming elected government would be ensuring continuity. He cautioned that several reforms introduced through ordinances may expire unless they are formally placed before parliament and enacted into law, creating a pressing timeline for policymakers. At the same time, Pobke underlined that decisions about which reforms to continue or modify rest entirely with Bangladesh’s elected leadership. “It will be the democratic prerogative of an elected government what it does and how it does it,” he said. He expressed hope that the momentum for economic reform would not slow down but instead continue to build, helping the country unlock its full potential. Reaffirming Australia’s commitment to supporting Bangladesh, Pobke said his country would continue to assist where desired by the people and government of Bangladesh. He noted that Australia’s support through the World Bank is aligned with Bangladesh’s reform priorities, while collaboration through the International Finance Corporation aims to boost private sector development. He added that Australia would also continue to support the country’s think tank ecosystem to encourage informed public debate, and expand trade and investment ties through its strengthened trade engagement. Pobke wished Bangladesh success in what he described as an important phase in both its democratic and economic journey, expressing confidence in the country’s ability to move forward.

The Anti-Corruption Commission (ACC) on Monday filed a case against eight people over allegations of unethical, discriminatory and illegal allocation of luxury duplex flats of two former Commissioners of the Anti- Corruption Commission (ACC) under the “Grihayan Dhanmondi (Phase-1)” project of the National Housing Authority (NHA). ACC Deputy Director and Public Relations Officer Akhtarul Islam briefed the reporters in the headquarters of the Commission. Case statement explained that the flats—formed by combining D-12 and D-13, and C-12 and C-13—have areas of approximately 4,105.05 square feet and 4,308.68 square feet respectively. These duplex flats were allegedly approved and allocated in favour of Md Jahurul Haque, former retired judge and former commissioner of the Bangladesh Telecommunication Regulatory Commission (BTRC) and the ACC, and Dr Md Mozammel Haque Khan, former senior secretary and former ACC commissioner. ACC files cases against former Bhandaria Upazila chairman, his wife ACC said that through discriminatory and unlawful decisions taken at the 222nd and 225th board meetings of the National Housing Authority, approvals were granted for the construction and allocation of two large duplex flats in the project located at House No-711 (new 63), Road No-13 (new 6/3), Dhanmondi Residential Area. The accused include Delwar Haidar, Chairman of the National Housing Authority;  Shahjahan Ali, Member (Administration and Finance); Dr Md Moinul Haque Ansari, Member (Land and Estate Management); Bijoy Kumar Mondal, Member (Planning, Design and Special Projects); and Kazi Wasif Ahmad, Project Official (Engineering and Coordination), all of the National Housing Authority. Former Registrar General (Senior District Judge) Syed Aminul Islam has also been named in the case for allegedly submitting false affidavits and being involved in the abuse of power. The ACC case said that the accused, while holding important public positions, committed criminal breach of trust, fraud and misconduct by misusing state resources and approving architectural designs in a discriminatory and unlawful manner. The case has been filed under Sections 409, 420 and 109 of the Penal Code, 1860, read with Section 5(2) of the Prevention of Corruption Act, 1947. According to the case statement, while serving as public servants, several senior officials allegedly abused their power and acted in collusion to approve and allocate two duplex flats—each nearly double the size of standard flats—in violation of rules and regulations. 10 former senior officials under scanner ACC sought wealth statements from 10 individuals linked to allegations of irregularities in the “Grihayan Dhanmondi (Phase-1)” housing project, suspecting that they may possess undisclosed assets beyond known sources of income. According to ACC officials, there is a possibility that the accused individuals own or control additional properties. As it is not possible to verify the accurate amount and sources of their assets without official disclosures, the Commission has decided to invoke Section 26(1) of the ACC Act, 2004, directing the concerned individuals to submit detailed statements of their assets. The individuals who will be asked to submit wealth statements include Md Jahurul Haque, former retired judge and former commissioner of the Bangladesh Telecommunication Regulatory Commission and the ACC. Also on the list is Eunusur Rahman, former senior secretary of the Financial Institutions Division under the Ministry of Finance, currently serving as chairman of the board of directors of Jamuna Oil Company Limited. Former senior secretary and former ACC commissioner Dr Md Mozammel Haque Khan has also been included, along with MA Kader Sarker, former secretary of the Ministry of Local Government, Rural Development and Cooperatives. The ACC will further seek asset details from Dr M Aslam Alam, former rector of BPATC, senior secretary to the government and current chairman of the Insurance Development and Regulatory Authority (IDRA), and Aktari Mamtaz, former secretary of the Bangladesh Public Service Commission. Other individuals named are Serajul Huq Khan, former secretary of the Health Services Division under the Ministry of Health and Family Welfare; Syed Aminul Islam, former Registrar General (Senior District Judge) and current member of the Judicial Reform Commission; and Anisur Rahman, former senior secretary of the Energy and Mineral Resources Division and former secretary of the Ministry of Religious Affairs, who also served as an election commissioner during the 13th Election Commission led by Habibul Awal. The list also includes SM Golam Faruk, former senior secretary of the Local Government Division, former member of the Public Service Commission, former member of the Bangladesh Planning Commission, and former senior secretary of the Ministry of Local Government, Rural Development and Cooperatives. The ACC said the move is aimed at ensuring transparency and verifying whether the individuals acquired assets beyond their known and lawful sources of income. ACC approves case against Essential Drugs ex-MD, 5 others

Expressing satisfaction over the peaceful election campaign across the country, Chief Adviser Prof Muhammad Yunus on Monday said the presence of a large number of international observers coming from different countries reflects the renewed global confidence in Bangladesh’s democracy. He said it also demonstrates the international community’s serious approach towards the twin elections - the national election and referendum scheduled for February 12- in Bangladesh. “We expect that this election will be better than any other elections that the country witnessed in the past,” Chief Adviser’s Press Secretary Shafiqul Alam quoted Prof Yunus as saying during a get-together event with the senior secretaries and secretaries of the government. Prof Yunus happy over polls preparations, says next ‘week very crucial’ Cabinet Secretary Dr Sheikh Abdur Rashid presided over the function. The Chief Adviser said huge numbers of observers are coming from various countries which reflect that they got back the confidence in Bangladesh democracy. Press Secretary Alam, while briefing the reporters at the Foreign Service Academy, said the elections, held during the regime of Sheikh Hasina’s regime, did not have any legitimacy and no prominent election observers came to observe the elections at that time. Prof Yunus observed that so far there has been no significant tension surrounding the election and political parties carrying out campaigns peacefully across the country. "Election campaigns are taking place peacefully across the country. Political parties are playing a responsible role, and large public gatherings at campaign events are being conducted without violence or disorder," he said. The Chief Adviser if the ‘Yes’ vote wins in the referendum, the country will change fundamentally and mis-governance will not return. "If the ‘Yes’ vote wins in the referendum, Bangladesh’s future will be built in a more positive way," he said. Prof Yunus expressed optimism that the upcoming national election would be a free, fair, peaceful and festive one. Speaking about past elections, he said previous polls in Bangladesh could hardly be called elections, describing them instead as ‘mockery’ in the name of elections. Prof Yunus calls for ethical use of technology, rejects fraud for prosperity "In contrast, the forthcoming election will be held in a free, fair and peaceful manner. With only two days remaining, we have almost reached the destination (peaceful, credible election)," the Chief Adviser said. This election, he said, together with the referendum, would bring an unprecedented change to Bangladesh politics and structure. Prof Yunus said Bangladesh will continue to move forward and attract investors from around the world who will come to establish factories in the country and described Bangladesh’s young population as a vast and powerful resource. Referring to the Japan-Bangladesh Economic Partnership Agreement (EPA), he said this will encourage many foreign companies to set up production facilities in the country. The Chief Adviser reiterated that the Japan-Bangladesh EPA is the first of its kind and should be seen as a model, adding that Bangladesh will pursue more free trade and preferential trade agreements. Such agreements, Prof Yunus said, will open many new doors for the economy and for Bangladeshi products. The Chief Adviser highlighted that, for the first time, expatriate Bangladeshis have been formally included in the political process. He said their role in Bangladesh’s political movements and uprisings in the past is now being fully recognized, and going forward they will be able to play a stronger and more meaningful role in national affairs. The Chief Adviser highlighted the extensive use of technology in this election, saying it has made the process easier and more accessible for everyone. He said that a mobile app has been developed to guide voters on how to cast their votes, while election-related apps will be used to monitor security across nearly 43,000 polling centres across the country. The ‘Election Bondhu’ initiative has been introduced, body-worn cameras have been provided to around 25,700 law enforcement personnel, and CCTV cameras are being installed at polling centres, Prof Yunus said, expressing hope that this election would be better than any previous election held in the country. He thanked the secretaries for their performance over the past 18 months, particularly for their cooperation in expediting work related to around 130 ordinances issued during this period. The Chief Adviser said their support and efficiency have been critical to the government’s work. Later, the Chief Adviser posed for photographs with the senior secretaries and secretaries of the government. If employers lose trust, all skills development initiatives would fail: Prof Yunus

Chairman of Policy Research Institute of Bangladesh (PRI) Dr Zaidi Sattar on Monday called for bold, fundamental economic reforms similar to those undertaken in the early 1990s, warning that the country’s current situation demands urgent structural changes to sustain growth and remain competitive globally. “Bangladesh is at a critical juncture comparable to the reform period of 1990–91, when the country moved towards a more open, market-oriented economy,” he said. He was speaking at a programme titled “Macroeconomic Insights: An Economic Reform Agenda for the Elected Government” held at a hotel in the capital this afternoon. The Policy Research Institute of Bangladesh (PRI) and Department of Foreign Affairs and Trade (DFAT) of the Australian Government jointly organised the event. The discussion was attended by Finance Adviser Dr Salehuddin Ahmed as chief guest, along with leading economists, policymakers and representatives from development partners. Presided over by Chairman of the PRI Dr Zaidi Sattar, Dr KAS Murshid, Former Director General of Bangladesh Institute of Development Studies (BIDS), Clinton Pobke, Deputy High Commissioner, High Commission of Australia to Bangladesh, spoke as special guests. Dr Ashikur Rahman, Principal Economist, PRI, made the keynote presentation. Dr Fahmida Khatun, Executive Director, Centre for Policy Dialogue (CPD), Dr M Masrur Reaz, Chairman and CEO, Policy Exchange Bangladesh (PEB), spoke as distinguished panelists. The closing remark was made by Dr Ahmad Ahsan, Director, PRI. Policy reforms, ethical business key to competitiveness after LDC graduation: Business leaders Dr. Zaidi stressed that the present challenges offer a similar opportunity for political and economic transformation. According to PRI chairman, recent economic shocks have slowed growth to around 4 percent, but this does not reflect the country’s long-term potential. Without reforms, the economy’s intrinsic growth rate could return to about 5.5 to 6 percent once political stability is restored. With strong and timely structural reforms, growth could accelerate to 7 to 8 percent, he said. Dr Zaidi, however, cautioned that external developments are reshaping the global trade landscape and Bangladesh cannot continue with ‘business as usual’. Among recent developments, PRI chairman described the Bangladesh-Japan Economic Partnership Agreement (EPA) as a major milestone. The agreement, he said, based on asymmetrical reciprocity, offers Bangladesh significantly wider market access with relatively lower commitments in return. He credited the government’s negotiation efforts, noting that while a full free trade agreement (FTA) would have been more beneficial, complexities in Bangladesh’s tariff regime made that difficult at this stage. At the same time, Dr Zaidi flagged concerns over the India-EU free trade agreement, which it said could pose a serious challenge to Bangladesh’s exports, particularly garments. India’s improved market access and production-linked incentives could intensify competition in the European market, where Bangladesh currently enjoys duty-free access and holds a large share, he said. With Bangladesh set to graduate from least developed country (LDC) status, he stressed the urgency of pursuing an FTA with the European Union within the next two to three years. But he warned that the country’s “mountain-sized” tariff structure and complex trade regime remain major obstacles. The PRI chairman also highlighted the need for deep reforms in the National Board of Revenue (NBR), describing it as a key institution that requires restructuring to support economic transformation. He welcomed the recent initiative to split the NBR into separate policy and management divisions, though implementation has yet to begin. The institute chairman identified major weaknesses in the current tax system, including a narrow tax base, excessive reliance on manual administration and slow progress in automation. He noted that Bangladesh still depends heavily on indirect taxes, with a 70:30 ratio compared to direct taxes, making the system regressive. He recommended moving towards a 50:50 balance between direct and indirect taxation to ensure fairness and improve revenue mobilisation. He also pointed out that nearly 58 percent of revenue comes from trade taxes, a level much higher than peer countries. The PRI chief proposed reducing reliance on trade taxes from around 2.5 percent of GDP to about 1 percent over the next decade through tariff rationalisation and tax reforms. He further stressed that high and prolonged protection for domestic industries is discouraging exports and placing a burden on consumers. DCCI calls for immediate normalisation of Ctg port operations He argued that industrial protection should be time-bound and performance-based, rather than continuing for decades. The PRI chairman also raised concerns over limited export diversification and what they described as an “anti-export bias” created by high domestic protection, which makes local sales more profitable than exporting. He said modernising tariffs, expanding the tax base, digitising tax administration and aligning trade policies with global standards are essential for Bangladesh to integrate more deeply with global markets and negotiate future FTAs. He expressed hope that the next elected government would take decisive steps to implement structural reforms, noting that democratic administrations are generally better positioned to carry out major policy changes.

The government has appointed Surayya Akhtar Jahan, additional secretary of the Local Government Division, as the administrator of Dhaka North City Corporation (DNCC). The Local Government Division under the Local Government , Rural Development and Cooperatives Ministry, issued a gazette notification in this regard on Monday. The notification said she has been given the responsibility under Section 25 A(1) of the Local Government (City Corporation) (Amendment) Ordinance, 2024 As administrator, Surayya Akhtar will exercise the powers and perform the duties of the DNCC mayor under further order in line with Section 25A(3) of the ordinance. She will carry out the responsibility in addition to her existing duties and will be entitled to any additional financial or other benefits as per rules. DNCC administrator Azaz faces travel ban The appointment will come into effect immediately. Mohammad Azaz had been serving as the administrator of DNCC and he will be replaced by Surayya Akhtar. The Ministry of Local Government, Rural Development and Cooperatives appointed Azaz as DNCC administrator on February 12 last year for a one-year term.