Economists and academics emphasized the absence of effective institutions in Bangladesh, highlighting the unmet constitutional commitment to ensuring equal opportunities for all during a program held at the Centre for Policy Dialogue office in the city to launch the book ‘Fifty Years of Bangladesh: Economy, Politics, Society, and Culture.’

They noted a striking disparity in economic development trends, with a decline in poverty rates but a concerning surge in income inequality.

While acknowledging significant strides in poverty reduction and human development over the past five decades, attendees expressed alarm over the deteriorating state of democracy in recent years.

CPD chairman Rehman Sobhan lamented this regression, recalling Bangladesh’s role as a model for free and fair elections following the 1996 polls under a caretaker government.

He criticized the current state of affairs, noting the abandonment of democratic principles by parties previously championing them.

Sobhan raised doubts about the judiciary’s ability to ensure equitable rights, citing disparities in legal outcomes for different individuals.

He also criticized other key institutions such as the police, banking sector, election commission, and anti-corruption bodies for their apparent dysfunctionality, which he argued was adversely affecting governance.

Hossain Zillur Rahman, executive chairman of the Power and Participation Research Centre, underscored the importance of inclusive economic development, cautioning against the shift towards exclusionary policies.

He noted that while economic growth persists, so does insecurity, attributing this to the abandonment of an inclusive development vision.

Zahid Hussain, former lead economist of the World Bank, Dhaka office, described Bangladesh’s economic growth as dualistic, with increasing inequality alongside poverty reduction.

He criticized the failure to fulfill the constitutional promise of equal opportunities, warning of the consequences of mortgaging the nation’s future for short-term gains.

Reflecting on political transitions, Prothom Alo editor Matiur Rahman highlighted the enduring struggle for democracy and accountability, emphasizing the need for dialogue on the nation’s future trajectory.

Dhaka University economics department professor Selim Raihan called for diversifying economic drivers beyond garments and remittances.

He lamented the deterioration of key institutions such as banking, taxation, and the judiciary, citing corruption and resistance to reform as major obstacles.

Syed Akhtar Mahmood, former lead private sector specialist of the World Bank Group, rejected the notion of Bangladesh’s economic development as miraculous, emphasizing the role of synergies in the process.

The event, moderated by CPD distinguished fellow Rounaq Jahan, featured insights from various experts, underscoring the multifaceted challenges facing Bangladesh and the urgent need for comprehensive reforms to ensure inclusive growth and strengthen democratic institutions.