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Bangladesh May See an Elected Govt Next Year: Planning Advisor

Rtv News

  07 Dec 2024, 15:01
Photo: Collected

Professor Dr Wahiduddin Mahmud, Planning and Education Advisor has explored the possibility of an elected government by next year.

He stated that the interim government is a short-term government. A political government is likely to form next year.

Speaking at the ABCD Conference organized by the Bangladesh Institute of Development Studies (BIDS) on Saturday (December 7), he shared his insights on the current state of the country.

In response to a question, the advisor said that it is unlikely for the interim government to transform Bangladesh into a high-income country within a short period. For such a transition, a political government is essential.

He remarked, "Most of the resources in Bangladesh exist on paper but not in reality. People have money in banks, but much of the bank funds have been drained. Despite strong balance sheets, many large companies cannot pay their workers due to a lack of cash flow. We have the infrastructure but no resources. In such a scenario, following a student and public uprising, the government is working towards building an equitable society."

Professor Dr Wahiduddin Mahmud highlighted that economic and income inequality is currently a significant concern. He stressed the need for quality education to address this disparity, something Bangladesh still lags in.

He further added, "We are reviewing the benefits and opportunities provided by developed nations and continue to engage in discussions on maintaining them. Many countries have responded positively in this regard."

Remarks by World Bank Chief Economist
In the same event, Indermit S Gill, the World Bank's Chief Economist, emphasized the importance of investment and job creation to help Bangladesh escape the middle-income trap. He also urged prioritizing entrepreneurship and increasing the use of technology.

The World Bank noted that enhancing human capital investment should be a top priority for progress. To attract foreign investment, strategies to expand bilateral and regional trade are necessary. Furthermore, Bangladesh must focus on increasing the value addition of its services and manufactured goods.

Indermit S Gill also recommended preparing short-medium, and long-term plans to tackle the challenge of ensuring an uninterrupted energy supply.

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