The taskforce on “Re-strategising the Economy and Mobilising Resources for Equitable and Sustainable Development” has proposed the establishment of five new institutions to address key issues in Bangladesh’s economic and governance systems.
On Thursday, Education and Planning Adviser Professor Wahiduddin Mahmud presented the taskforce’s report to Chief Adviser Professor Muhammad Yunus at the Chief Adviser’s Office in Tejgaon. The 12-member taskforce, formed on 10 September, focused on reassessing economic development frameworks, addressing inefficiencies in the financial system, and restoring discipline in project implementation.
The proposed new institutions include the Center of Global Excellence, Centre for Social and Behavioural Change Communication and Research (CSBCC&R), Bangladesh Airways, Regulatory Reform Commission (RRC), and a National Board of Revenue (NBR) Oversight Committee.
The taskforce proposed to form a Center of Global Excellence for postgraduate research in STEM fields, Engineering, and ICT/AI. The taskforce recommends setting up the center outside Dhaka within the next five years, aiming to attract international scholars and researchers. Drawing inspiration from institutions like India’s IITs, the center would enhance local education and research while potentially expanding into other fields like Environmental Science and Renewable Energy.
Another proposal focuses on Bangladesh Biman, the national airline, which has long struggled to meet international standards. The taskforce suggests creating a new airline, Bangladesh Airways, if the current carrier fails to improve. The new airline would leverage existing assets from Bangladesh Biman and operate under independent management, with both airlines competing in the market.
Additionally, the report calls for the establishment of the Centre for Social and Behavioural Change Communication and Research (CSBCC&R) to unify the nation’s fragmented communication efforts. The center would integrate traditional and digital communication strategies to drive effective social change and address societal issues more cohesively.
The taskforce also proposed creating a Regulatory Reform Commission (RRC) to address over-regulation and bureaucratic hurdles that hinder business growth. The RRC would streamline economic governance and simplify regulations, making Bangladesh a more attractive destination for both domestic and foreign investment.
In response to inefficiencies within the National Board of Revenue (NBR), the taskforce recommends forming a high-powered committee to evaluate NBR’s structure and provide recommendations for improvements, particularly in areas related to customs, VAT, and tax policies. The taskforce highlighted the success of NBR’s innovations, such as the back-to-back LC and bonded warehouse systems, and emphasized the need for continued policy innovations.
