Transparency International Bangladesh (TIB) has raised concerns over the lack of private sector involvement in the interim government's advisory council and the insufficient attention given to this sector in the ongoing policy reform efforts. TIB stressed that excluding the private sector, a key driver of the economy, hinders efforts to establish a non-discriminatory and participatory development system, particularly in labor force reforms.
In a statement issued on Sunday, TIB called for the inclusion of private sector representatives in the advisory council to ensure a more balanced approach to national reform initiatives. Additionally, the anti-corruption watchdog urged the formation of a commission to develop a comprehensive Business Integrity Strategy, aimed at promoting transparency and accountability within the sector.
TIB stated that it is nearly impossible to establish a non-discriminatory and participatory development system and reforms for the labour force in this sector due to the exclusion of this sector, which is one of the key drivers of the economy. In light of this, TIB calls for the inclusion of representatives from the privately owned business sector in the advisory council. Additionally, the organisation urges the formation of a commission to develop a Business Integrity Strategy, ensuring transparency within this vital industry.
The government recently announced plans to establish four reform commissions focused on health, media, labor, and women’s rights as part of the second phase of its reform initiatives. While welcoming this move, TIB Executive Director Dr. Iftekharuzzaman emphasized the need to address private sector involvement to prevent unchecked corporate power, which he argued has historically contributed to corruption, money laundering, and the consolidation of authoritarianism in Bangladesh.
Dr. Iftekharuzzaman remarked, "It is impossible to achieve effective reform outcomes while excluding the private sector, which is essential to realizing the vision of a discrimination-free Bangladesh. Ensuring private sector participation in the interim government's structure is vital for maintaining transparency and preventing future abuses."
TIB also warned against the exploitative systems formed through the collusion between the former authoritarian regime and segments of the private sector, which have stifled the growth potential of the economy. To combat this, TIB called for a roadmap and the implementation of a Business Integrity Strategy to promote good governance in the privately owned business sector.
Dr. Iftekharuzzaman further highlighted the importance of broad-based reforms, including in financial, social, and political structures, to prevent the resurgence of authoritarianism. He also praised the idea of expanding the advisory council to accelerate the interim government's activities but expressed concern over the lack of focus on the private sector, which is the largest contributor to employment in the country.
"Without reforming the private sector and ensuring its participation in ongoing reforms, addressing market disorder and restoring economic stability will be difficult," Dr. Iftekharuzzaman concluded.
TIB’s call for greater private sector inclusion comes as the interim government continues its efforts to reshape the nation’s governance and economic systems.
