Political will essential to curb illegal income: Planning adviser
He said strict accountability across all levels of administration is a common feature in countries that have achieved economic success, regardless of their political system
Planning Adviser Wahiduddin Mahmud has said that reducing illegal income requires strong political will alongside institutional reforms, as rules and regulations alone cannot eliminate the problem.
Speaking as the chief guest at the inaugural session of the Annual BIDS Conference on Development 2025, at Parjatan Bhaban in Agargaon today (7 December), he said past experience shows that when one source of illicit income is blocked, another often emerges.
He said strict accountability across all levels of administration is a common feature in countries that have achieved economic success, regardless of their political system.
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Wahiduddin noted that when China began market-oriented reforms in the 1980s, major changes were implemented within the Communist Party itself.
Officials involved in economic affairs were evaluated based on the outcomes of their policies, with rewards for success and dismissal for failure. Vietnam adopted a similar model.
According to the planning adviser, the effectiveness of market liberalisation depends on a country's social norms, trust, and values.
He said that when Vietnam introduced market reforms, its regulatory framework and financial discipline were not fully established.
"Surprisingly, the entrepreneurs themselves discussed and decided how business would be conducted systematically, how defaulters would be prevented, and how the market would be kept disciplined," he said.
Wahiduddin Mahmud also said that democracy is not the only condition for economic development.
Citing global examples, he noted that sustained growth has been achieved under various forms of governance, including democracy, military rule, and one-party systems, with countries such as Singapore, Malaysia, South Korea, Taiwan, Vietnam, and China experiencing high growth for extended periods.
He added that while submitting income tax returns online may help reduce harassment, major irregularities in tax evasion will persist without broader reforms.
