Transparency International Bangladesh on Sunday expressed concern over the lack of active participation from the private sector in the interim government鈥檚 advisory council and the insufficient priority given to the sector in the government鈥檚 ongoing policy reform process.
The TIB came up with this remark in a media statement stating that the private sector is one of the key drivers of the country鈥檚 economy.
The organisation urged the inclusion of representatives from the privately owned business sector in the advisory council and formation of a special commission to develop a business integrity strategy, ensuring transparency within the vital industry.
Welcoming four more reform commissions formed by the interim government on health, media, labour, and women鈥檚 rights in the second phase, TIB executive director Iftekharuzzaman said that it was not impossible to achieve desired results by excluding the private sector from efforts to realise the dream of a discrimination-free Bangladesh.鈥�
Urging the interim government to ensure transparency and accountability in the private sector, he said, 鈥楾he exploitative system, established through the collusion between the fallen authoritarian government and part of the private sector, was not only strangling the potential of the entire economy but also hindering the natural development of the private sector.鈥�
Iftekharuzzaman said, 鈥楾o build a sustainable economic system, the TIB believes that formulating a roadmap and implementing a business integrity strategy in the privately owned business sector is essential. For this reason, TIB has called for the formation of a special commission.鈥�
He also said that initiatives to reform the financial, social, and political structures were commendable, as they were crucial in preventing the re-emergence of authoritarianism in the state.
The idea of expanding the size of the advisory council to accelerate the activities of the interim government is also praiseworthy, he added.
鈥榃e, however, are concerned about the fact that the state reform agenda completely ignores the private sector, the sector that contributes the most to employment in the country,鈥� he said.
Reforming the private sector and ensuring its participation in the ongoing reform process is essential, he said, adding that it will be challenging for the government to address market disorder and restore order to the economic system excluding the sector.
