CPD sees no implementation of economic ‘white paper’ recommendations

The Centre for Policy Dialogue (CPD) believes that the recommendations made by the task force formed to redefine economic strategies and mobilise necessary resources for inclusive and sustainable development are not being implemented.

CPD Executive Director Fahmida Khatun said, "Although the government has formed a task force to define the white paper and economic strategy, we do not see the implementation of their recommendations."

"We don’t see any progress in implementing the recommendations made in the labour sector, media, women and health reform commissions. And there has been no commission formed in the education sector."

She spoke at a dialogue organised by the think tank on Sunday marking the first anniversary of the interim government.

After the fall of the Awami League, the interim government formed the task force on the economy Sept 10, which submitted its report on Jan 30.

The recommendations include bringing stability to the national economy, creating a clear vision for implementing the 2025-26 budget; adopting a medium-term plan for 2025-2027 and conducting a proper evaluation of the Eighth Five-Year Plan.

They also include identifying fragile and vulnerable sectors to initiate the reform process on a priority basis; adopting strong policies to transform from least developed countries to more developed countries; to take initiatives to achieve the SDG targets and create a forum for dialogue with development partners.

CPD said that some impact of the white paper's recommendations can be seen in the banking sector, foreign sector and inflation. However, Fahmida highlighted the negative trend in GDP growth, private sector credit flow, revenue collection and ADP implementation.

She said, “We have seen improvement in inflation. We saw [the rate at] 10 percent or more, but now it is decreasing. The rate of decrease is low, but it is decreasing.”

She also criticised the lack of visible improvement in people's lives and livelihoods. Although one year is a small period for the economic situation to improve, there has not been any significant "relief", according to her.

“Inflation is still high, with no investment coming in. Jobs aren't being created. Above all, revenue collection isn’t increasing,” she said.

"Since inflation is high, the initiatives for [people from the low-income groups] should be continued."

Under the circumstances, she suggested continuing the supply of TCB products at subsidised prices through open truck sale.

After a little slump in June, inflation in both food and non-food sectors increased in July.

Overall inflation on a point-to-point basis in the first month of the fiscal year was 8.55 percent, which stood at 8.48 percent in June.