TDS Desk

Bangladesh has fulfilled three conditions for graduating from the Least Developed Country (LDC) status, so there is no reason to postpone the country’s graduation to a developing country, said Debapriya Bhattacharya, head of the committee on White Paper on State of the Bangladesh Economy, on December 02.

Addressing a press conference organised by the committee at the planning ministry in Dhaka’s Agargaon, he said, “Analysing statistics, we have seen that Bangladesh is above all the benchmarks for LDC graduation. So, there is no reason to postpone the graduation.

“The government can apply for a postponement only if there is any economic catastrophe.”

“A section of traders, who have been enjoying the benefits of duty-free exports, want to enjoy these facilities forever. We have seen their role in the last 15 years as well,” said the prominent economist.

Speaking at the briefing, White Paper Committee member Imran Matin also said 85% assets of the country are controlled by only 10% of the population.

If those above the poverty line abstain from work for two days a week, the poverty rate will double, he added.

The committee, formed on 28 August, was given three months to prepare the report, which aims to provide a clearer picture of the economy plagued by years of mismanagement and distorted data.

The committee, led by Debapriya, yesterday (1 December) submitted the 400-page document to Chief Adviser Professor Muhammad Yunus at his Tejgaon office in Dhaka.

According to the White Paper, during the 15 years of Sheikh Hasina regime, project costs rose by an average of 70%, and completion delays exceeded five years. Of the $60 billion invested in development projects through the Annual Development Programme (ADP), an estimated $14–24 billion (Tk1.61–2.80 lakh crore) was lost to corruption, including political extortion, bribery, and inflated budgets.

The White Paper report identifies widespread misappropriation of funds during land acquisitions and the appointment of politically favoured project directors as key factors undermining the efficiency of infrastructure and social investments.