The achievement of poverty alleviation in the country will collapse if tapped. The situation of Bangladesh is not like being in the LDC (List Developed Country or Least Developed Country) group. Bangladesh is now stuck in the middle income trap. Transition from this requires economic stability and appropriate reforms.
The white paper drafting committee said these things at a press conference on the occasion of the release of the white paper at the Ministry of Planning at Agargaon in the capital on Monday (December 2).
Earlier on Sunday (December 1) at the Chief Adviser's office, the white paper drafting committee submitted their report to the Chief Adviser.
The head of the committee at the press conference. Debapriya Bhattacharya said, I work with different countries of the United Nations. I want to say, it (Bangladesh) is not a country to be in LDC group. With our capability, competence, sustainability, effectiveness, there is no reason to stay in LDC group.
Advising the current government to prepare an action plan for the next two years, he said that long-term reform programs cannot be carried out if the economic and political stability of the country is not ensured. During the previous government, the entire structure was transformed from crony capitalism into a thief system.
Other members of the White Paper Committee said that earlier a large part of corruption was invested in the country itself. But in the last 15 years, if 100 taka is corrupt, 60 taka has been smuggled out of the country. This money has been smuggled not through hundi, but through the project. Almost 40 percent of the government expenditure is embezzled.
They said that LNG has been imported by abandoning their own efforts in the field of energy. There has also been significant corruption in the technology sector. Basically corruption has been done by making various policies.
They said, the loot that has been done in the mega project will have to be repaid for several generations. Therefore, the interim government has to discuss the interest rate of foreign loans, grace period with foreign development partners. There is no option to revise the loan. The government should continue to try in this regard. Besides, income tax should be emphasized to increase the revenue of the country.
The white paper committee said Bangladesh needs systematic reforms. All the doors must be closed to the culture of interference at the upper level in accounting, data.
