The slippery slope of power

The first steps of any new government are often taken under the weight of expectation. As the administration under Tarique Rahman begins to implement its electoral promises, particularly through the rollout of family cards and the waiver of agricultural loans, it suggests an effort to respond quickly to those expectations. However, governing is an exercise in resource management and the simple truth is that delivering on promises costs money. While these initiatives may provide immediate relief to certain sections of the population, they also add to the strain on public finances. Once a government shows it is willing to spend, the list of demands only grows. Every section of society comes forward with its own asks, from higher allowances to calls for nationalised employment and better pay scales, all hoping for a share of the budget. Realistically, a government, much like a household, cannot spend endlessly without a corresponding inflow of revenue. Stability requires that expenditure move in step with income. The experience of Mike Tyson shows how quickly things can fall apart when financial discipline is absent. Despite earning close to $400 million during his boxing career, he ended up filing for bankruptcy within a few years burdened by debt. His failure to manage resources, to save and to separate necessary spending from excess led to that outcome. A state is not an individual, yet the basic principles of financial management remain the same and ignoring them carries consequences. That is why the government must devote as much attention to strengthening revenue as it does to expanding spending.  

Such caution, however necessary, does not insulate a government from the impatience of the electorate. The honeymoon period for any new administration rarely lasts long. At the outset there is usually a measure of public patience, as people wait to see how promises translate into action, but that patience does not last indefinitely. Citizens expect visible progress and they expect it within a reasonable span of time. The mandate for change that brought the government to power also creates a benchmark against which it will be judged. It is also worth recalling that this is not the first time the BNP has governed the country. That history naturally invites reflection on whether its earlier tenures created a legacy that still resonates with admiration. This is not a question directed solely at the party. One might ask how many individuals who have held the highest offices of state, from Mizanur Rahman Chowdhury to Shah Azizur Rahman, are truly remembered for their contributions today. Their time in power has passed, and with it, the memory of their work has faded. In this context, the ruling party now possesses a fresh opportunity to shape how its time in office will ultimately be recalled. That opportunity, however, carries with it the heavy responsibility of avoiding the missteps that have proven costly for so many predecessors including the party's own previous governments.

Alongside this pursuit of a lasting legacy, the administration has already set in motion a series of visible institutional changes. Adjustments have occurred in the military, the police, the civil administration, the judiciary and the education sector. Such moves are not unusual when a new government assumes office since it often aims to align the state machinery with its policy direction. However, the early actions of this government also serve as a crucial litmus test, revealing the character and intent of the rule to come. For the BNP government, the termination of Dr Ahsan H Mansur's contract as Governor of Bangladesh Bank has come to occupy a central place in this early assessment. He had come to be regarded as one of the more effective policymakers of the interim period, and his work resonated positively with the public. It is deeply unfortunate that he was the one to depart in such an undignified manner. Leadership transitions are to be expected, but removing a figure of such standing through a process widely described as politically driven and humiliating sends an unsettling signal across public service and beyond. Such treatment of skilled professionals can make others reluctant to serve when the nation most needs them. 

These concerns inevitably lead to the broader question of economic stability which must remain at the centre of the government's agenda. The new government inherited an economy grappling with persistent inflation, a looming crisis of youth unemployment and a mountain of non-performing loans that continues to cripple the banking sector. These are not problems that can be addressed through rhetoric or short-term gestures. What is required instead is a sustained commitment to the long and arduous task of strengthening fiscal discipline and supporting growth in productive sectors. Without steady progress in these areas, both economic recovery and social stability will remain at risk.

Winning an election is only the beginning of governance. The real test comes in determining whether the practices that led to the rejection of earlier administrations are genuinely set aside. Early indications, however, show that entrenched habits are not easily discarded. Reports of extortion, intimidation and politically motivated actions continue to surface, some even appearing to intensify. On top of that, statements from some members of the cabinet have also raised concerns about the seriousness with which responsibilities are being approached. People expected real policy and firm action. Instead, they get grandstanding and shows of force. That is when the hope that came with the uprising starts turning into disappointment. 

Beyond domestic challenges, the external environment presents an additional layer of complexity. Ongoing wars in the Middle East and other global conflicts continue to threaten supply chains, food security and energy flows, creating pressures that are proving increasingly difficult to manage. How the government responds to these challenges will reveal whether it possesses the foresight and steady judgment required to navigate a rapidly changing global order. In the end, the administration will be judged not only by the promises it keeps, but also by the stability it preserves when forces beyond its control threaten to disrupt it.

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