People will lose patience if economic, law and order situations do not improve: Debapriya

The people's patience will eventually wear thin if economic and law and order situations do not improve, regardless of their support for reforms, said economist Debapriya Bhattacharya, head of the White Paper drafting committee.

"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," he said at an event organised by the International Business Forum Bangladesh (IBFB) at the Gulshan Club in the capital today (15 December).

He further said, "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 also mentioned that, on one hand, political parties are requesting an election roadmap, while on the other hand, the interim government has committed to holding elections after implementing the necessary reforms.

At the event, 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.

Finance Adviser Salehuddin Ahmed was present at the event as the chief guest.