Debapriya wants interim govt to leave behind 3 key legacies to steer nation back on track

Dr Debapriya Bhattacharya, a distinguished fellow of the Centre for Policy Dialogue (CPD), today urged the interim government to leave behind three critical legacies to help steer the nation back on track.

The legacies he outlined are making the gravity of corruption clear, tackling malgovernance and establishing an administrative framework conducive to building a balanced and sustainable economy.

Delivering the introductory speech at a symposium titled "White Paper and Thereafter: Economic management, Reforms and National Budget" at the Bangabandhu International Conference Center (BICC), the eminent economist said the government will have to expose the economic scenario of the country which has been suffering from corruption and malgovernance.

"They [govt] have really exposed the amount of malfeasance, corruption and malgovernance we were afflicted with," he said.

Debapriya, who led the committee responsible for drafting a white paper on the country's economic situation, said the government has to stabilise and consolidate the current macroeconomic situation of the country.

In this connection, he pointed out inflation as one of the components. "But there are some others, and with this economic stability there is social security and individual security also involved."

But, he said, although the government has various types of steps in this connection, those are not effectively visible till now.

Debapriya said no reform outline is visible to induce administrative structural change for building a balanced, inclusive and sustainable economy. "We do not see any reform agenda concerning the economy and the associated institutions and the regulatory framework along with that. No specific speech from the government has come so far."

He said it has been heard that there is a process on to prepare a mid-term budgetary framework. "The Planning Ministry has formed a task force. We are waiting for the report."

However, if there is no midterm planning it might hinder the investment as it does not come for one year or one month. "For that investment it is needed to have a midterm vision, we do not see that at this moment," he added.