Staff Correspondent

Dr. Debapriya Bhattacharya, head of the committee tasked with preparing a white paper on the state of Bangladesh’s economy, said on Thursday that the committee’s role is to analyze the causes and extent of corruption, not to identify or “catch” the corrupt.

“This committee will explain why corruption occurs and assess its severity,” said Dr. Debapriya. “However, it is not our responsibility to identify who is involved in corruption. That task falls under the jurisdiction of the government and its relevant agencies.”

Dr. Debapriya made these remarks while speaking to reporters following the committee’s first meeting at the General Economics Division (GED) office in Sher-e-Bangla Nagar.

He emphasized that the committee’s purpose is to promote transparency in the economic landscape of the country. “Through this exercise, the current government will better understand what they have inherited to govern the country,” he added.

During the inaugural meeting, the committee members discussed several key topics, including the context and purpose of the initiative, the scope and methodology of their work, the tentative structure of the final report, outreach and communication strategies, division of tasks among team members, and other related matters.

Dr. Debapriya also underscored that the committee is not responsible for implementing any reform measures. “We are not here to carry out reform activities,” he said.

He further clarified that the committee will not conduct a comprehensive evaluation of the banking sector and financial institutions. “The government is planning to form a Banking Commission, which will be established in the future to address those issues,” Dr. Debapriya noted.

Dr Debapriya, Distinguished Fellow at Centre for Policy Dialogue (CPD) and Convener of the Citizen’s Platform for SDGs, Bangladesh, also said that the issue of bringing back siphoned money is a complex issue.

He noted that the forthcoming report from the White Paper Committee on the state of Bangladesh’s economy would offer potential reform pathways for the government, helping to correct economic deviations that have occurred over the years.

“The White Paper Committee will provide guidance to the interim government on various reforms and will inform the government’s reform programs,” said the noted economist.

He added that the report would identify the challenges and barriers facing the economy, potentially helping to shape future government actions.

Dr. Debapriya further said that the report would offer a roadmap to prevent the recurrence of economic missteps and loopholes that have developed over time. The committee will analyze available data, and if conventional data sources are lacking, it will consider alternative data to understand the foundation of the economy.

He emphasized the importance of evaluating past policies, rules, and regulations in the context of both current and future needs, stating, “We don’t want to see a recurrence of previous mistakes and incidents…what should be the ideal safeguard?”

Dr. Debapriya underscored the importance of accountability, saying, “It’s more important that the perpetrators get punished…I think they are in jail now as part of it.” He noted that the current government is aware of these concerns and sees no need to reiterate them.

The committee’s head mentioned that the report would provide insights into the foundation and structure of the 9th Five Year Plan, steps toward achieving the SDGs, and ensuring a smooth and sustainable graduation from LDC status.

He outlined a three-pronged approach for their operations: evaluation through criticism, utilizing think tanks and foreign firms, and holding discussions with stakeholders, including students and business leaders.

When asked about publishing an interim report, Dr. Debapriya said that instead of waiting for the full 90 days allocated to the committee, they would aim to release draft reports on specific segments of the economy and seek feedback from various stakeholders to refine them.

In response to another question, he clarified that the committee would not conduct an ADP portfolio analysis or project-wise evaluation but would provide recommendations to improve ADP utilization, particularly focusing on mega projects.

Regarding the scope of their review, the economist said they would go back as far as necessary to understand the root causes of the current economic situation. “This committee is not for a full-fledged evaluation of the previous government’s actions; rather, it will assist the interim government in moving forward and avoiding past mistakes,” he added.

On the issue of repealing the provision for whitening black money, Dr. Debapriya said that concerns have been raised about the country’s low tax-to-GDP ratio, prompting a discussion on internal resource mobilization. He acknowledged that the practice of whitening black money could be addressed, as many consider it counterproductive.

Commenting on the alleged corruption involving billions of dollars in the financial and banking sectors, Dr. Debapriya emphasized the need to protect the rights of citizens and depositors while advocating for stricter criteria in granting licenses to institutions.

He also highlighted the issue of public expenditure as part of the economic challenges, saying, “We’re now analyzing the status of the economy, not the trend over the years…sectors like education and health did not receive the desired allocations due to these deviations.”

Other members of the committee—Professor AK Enamul Haque, Dean of Faculty of Business and Economics, East West University; Ferdaus Ara Begum, Chief Executive Officer, Business Initiative Leading Development (BUILD); Imran Matin, Executive Director of BRAC Institute of Governance and Development (BIGD), BRAC University; Dr Kazi Iqbal, Senior Research Fellow of Bangladesh Institute of Development Studies (BIDS); Dr M Tamim, Professor of Bangladesh University of Engineering and Technology (BUET) and former Special Assistant to the Chief Advisor (2008); Dr Mohammad Abu Eusuf, Professor of Department of Development Studies, University of Dhaka; Professor Mustafizur Rahman, Distinguished Fellow, Centre for Policy Dialogue (CPD); Dr Selim Raihan, Professor of Department of Economics, University of Dhaka and Executive Director, South Asian Network on Economic Modeling (SANEM); Dr Sharmind Neelormi, Professor, Department of Economics, Jahangirnagar University; Dr Zahid Hossain, former lead economist, World Bank and eminent columnist—attended the meeting while Dr Tasneem Arefa Siddiqui, former professor, Department of Political Science, University of Dhaka, and founding chair, Refugee and Migratory Movements Research Unit (RMMRU) joined the meeting through zoom.