Interim govt failed to deliver reforms due to lack of planning: CPD

During the immediate past interim government, many important economic reforms faded out as it had no economic philosophy or planning, said a noted economist today.

The last interim government was legitimate, but it was not elected and lacked both economic philosophy and planning, said Debapriya Bhattacharya, a macroeconomist and public policy analyst who is also a distinguished fellow at the Centre for Policy Dialogue (CPD).

He stressed that the continuation of reforms, especially economic reforms, is very important for development.

For instance, just after Bangladesh’s independence in 1971, the then finance minister, Tajuddin Ahmad, carried out economic reforms.

Similarly, reforms were implemented during President Ziaur Rahman’s regime. The then Finance Minister M Saifur Rahman introduced two major reforms: the floating exchange rate of the local currency against the US dollar and the VAT system.

“Sometimes even economists hesitate to acknowledge such important reforms carried out by Saifur Rahman as both a political leader and finance minister,” Debapriya Bhattacharya added.

But reforms during the interim government faded out, despite many initiatives being taken, he said. The interim government undertook several initiatives but failed to implement them.

The Citizen’s Platform for SDGs, Bangladesh has created the Bangladesh Reform Tracker, an online platform where people can access information on government reform pledges and track progress on their implementation.

The platform will keep citizens informed about committed reform initiatives and the progress of their implementation.

Debapriya Bhattacharya was speaking at the agreement signing ceremony between the Economic Reporters’ Forum (ERF) and Citizen’s Platform for SDGs, Bangladesh, held at the ERF office in Dhaka.

Under the agreement, ERF and Citizen’s Platform for SDGs, Bangladesh will jointly work to train journalists both in Dhaka and outside the capital on reforms and the progress of commitments pledged in electoral manifestos.

At the discussion, Shamsul Huq Zahid, editor of The Financial Express and a member of the media reforms commission of the interim government, expressed disappointment that not a single recommendation suggested by the commission was implemented.

Nurul Kabir, editor of The New Age, said economic reforms cannot take place without democratic reforms. He also criticised the interim government’s signing of the US Agreement on Reciprocal Trade (ART) with the United States.

Shawkat Hossain Masum, head of Online at Prothom Alo, suggested conducting impact analyses on reform progress so journalists can report based on the economic impact.

Information and Broadcasting Minister Zahir Uddin Swapan said his government has been working to introduce allowances for retired journalists, with his ministry currently drafting eligibility criteria for the benefit.

He added that the government is also working to formulate an advertisement policy so media outlets can benefit from government advertising.

ERF President Doulot Akter Mala and ERF General Secretary Abul Kashem also spoke.