White Paper prepared through inclusive, consultative process: Debapriya

Renowned economist Dr Debapriya Bhattacharya today (2 December) said that the White Paper has been prepared through an inclusive and consultative process, departing from the conventional research methodology.

Though the draft report has been revealed, the printed version of the report would be available within the next one and a half months after some editing, said Dr Debapriya at a press briefing held at the NEC Auditorium of the Planning Commission, marking the release of the White Paper on the state of the economy under the previous government.

Dr Debapriya, a distinguished fellow at the Centre for Policy Dialogue (CPD) and leader of the White Paper preparation committee, highlighted the key features of the report and the government's potential future actions, the eminent economist urged the government to make a public statement on its various operations and initiatives across different sectors.

Dr Debapriya stressed the importance of the next six months, recommending that the government present a clear plan for economic management ahead of the upcoming national budget.

The distinguished economist proposed outlining anticipated inflation levels, foreign currency reserves, and interest rates amidst ongoing reforms in various sectors.

Debapriya also called for a mid-term strategy focusing on investment, employment generation, education, healthcare, and social safety nets.

Commending the interim government's decision to withhold the 8th Five-Year Plan, Dr Debapriya described the proposed projects as unrealistic and impractical, necessitating an authentic evaluation.

He also urged the government to provide a comprehensive account of its activities over the past four months, a detailed working plan for the next six months, and a two-year operational outline.

Prof Dr Mustafizur Rahman, another distinguished CPD fellow, warned that future generations would bear the consequences of widespread corruption, particularly in mega projects.

Dr Zahid Hussain, former lead economist of the World Bank, cautioned that Bangladesh is facing the challenges of a middle-income trap. He suggested macroeconomic stability, policy reforms, and institutional accountability as pathways to overcome these hurdles.

Prof Dr Selim Raihan of Dhaka University's Department of Economics underlined the need for sustained reforms in critical sectors to support economic recovery and boost private-sector investment.

He also criticised the last three general elections as flawed, arguing that they undermined democratic institutions.