TDS Desk:

The government’s task force to reframe development strategies for the economy will achieve its desired results within two years, team leader Dr KAS Murshid, former director general of the Bangladesh Institute of Development Studies (BIDS), said on Thursday (26 September).

“The task force will recommend mid-term and long-term implementation strategies which will be taken up to achieve the desired benefits within one or two years,” he said after the team’s first meeting held at the Planning Commission in Sher-e-Bangla Nagar.

Planning Adviser Wahiduddin Mahmud also gave directives to the task force at the meeting.

Stating that the task force will submit its first report to the government in three months from now, Dr KAS Murshid also said they will work to determine what strategies can be taken up and its scope for bringing the economy in order.

“How do we move forward? What kind of programmes can be taken? Where are the gaps? If any sector of the economy is found to be lagging behind, the task force will work on how to bring it up to par,” he said.

Earlier on 10 September, the planning ministry formed a 12-member taskforce to develop strategies to give a boost to the economy and mobilise resources for equitable and sustainable development.

Other members of the taskforce are- former World Bank official Akhtar Mahmood, Professor of Dhaka University’s Economics department Dr Selim Raihan, former head of the research department of Commonwealth Secretariat Dr Abdur Razzak, Professor of Yale University’s Economics Department Dr Mushfiq Mobarak, Professor of BUET Dr Shamsul Haque, Professor of Dhaka University’s Economics department Dr Rumana Huque, former president of MCCI Nasim Manzoor, Research Director of BIDS Dr Monzur Hossain, Executive Director of CPD Dr Fahmida Khatun, Chief Executive Officer of BDjobs AKM Fahim Mashrur and member Secretary of General Economics Division of the Planning Commission Dr Md Kawser Ahmed.

On 18 September the planning adviser said the 9th five-year plan, which was being drafted by the ousted Awami League government, will not be implemented by the interim government.

Referring to which, Dr KAS Murshid said his task force will not replace the five-year plan.

“Currently, we have several issues in our economy. We have many projects in the pipeline, while many others are ongoing. So, we will bring some discipline into those. The task force will work in sectors which need reforms or solutions. Such as the transport sector or digitalisation.”

He also said they hope to get some funding which can come from domestic sources or from bilateral or multilateral development partners.

“So, we are not worried about financing. We are concerned about the problems that exist in the economy. The government has already taken up many initiatives, such as to reform the banking sector,” he added.

The task force’s agenda has not been finalised yet, he said, adding that they will determine by next week which sectors will be worked on.

Responding to journalists regarding the scope of work of the government’s white paper committee and this task force, he said various economic issues, including macro economy and good governance are being discussed now and that everyone is working on the common issues.

“But the main task of the white paper committee will be to create a baseline of the economy. They are tasked with figuring out what the current state of the economy is and what its strengths are.

“On the other hand, our work will be to find out, within one, two or three years, which directions we will take, what to prioritise and such.”