The committee tasked with drafting the country’s economic white paper has successfully concluded its work within the designated timeframe, submitting the document to the interim government’s Chief Adviser Dr Muhammad Yunus.
The submission took place on Sunday (1 December), at the Chief Adviser's Office in Tejgaon.
Dr Debapriya Bhattacharya, a distinguished economist and honorary fellow at the Centre for Policy Dialogue (CPD), led the committee in presenting the comprehensive report.
The proposed white paper highlights several pivotal issues, including:
- Public Financial Management: This encompasses internal resources, government expenditure (public investments, the Annual Development
- Programme, subsidies, and loans), and the financing of budget deficits.
- Inflation and Food Management: Emphasis has been placed on production, government procurement, and food distribution systems.
- External Sector Dynamics: The paper covers exports, imports, remittances, foreign direct investment (FDI), foreign exchange reserves, external financial inflows, and debt.
- Market Mechanisms: Recommendations address demand, supply, price-setting, costs, and procurement contracts.
- Private Investment: Access to credit, electricity, connectivity, and logistics has been underscored as crucial areas.
- Employment: The focus includes domestic and overseas employment, formal and informal wages, and youth employment opportunities.
To facilitate the preparation of the white paper, the committee proposed a detailed framework:
- Committee Composition: The team, led by Dr Debapriya Bhattacharya, could nominate additional members in consultation with the chief Adviser. Members would serve voluntarily.
- Office Setup: An appropriate building within the Planning Commission Complex could serve as the committee’s office.
- Administrative Support: The General Economics Division of the Planning Commission could provide secretarial assistance.
- Collaboration: All ministries, departments, and agencies would be mandated to supply necessary data and extend full cooperation.
- Deadline: The committee would submit its final recommendations to the Chief Advisor within 90 days.
This committee was formed by the interim government after the fall of the Awami League administration, which was ousted following widespread public protests.
Led by economist Dr Debapriya Bhattacharya, the 12-member committee commenced its work on 28 August.
Alongside internal discussions, the committee sought input from various stakeholders to ensure a holistic approach.
The white paper aims to assess the country's macroeconomic and sector-specific conditions, while also providing actionable recommendations for the future.
It represents a critical endeavour to chart a path forward amidst the ongoing political and economic transformation.
