Press Release
Dhaka, 20 October 2024: Transparency International Bangladesh (TIB) expresses concern over the lack of active participation from the private sector in the interim government’s advisory council, as well as the insufficient priority given to this sector in the government’s ongoing policy reform activities. It is nearly impossible to establish a non-discriminatory and participatory development system and reforms for the labor force in this sector due to the exclusion of this sector, which is one of the key drivers of the economy. In light of this, TIB calls for the inclusion of representatives from the privately owned business sector in the advisory council. Additionally, the organization urges the formation of a commission to develop a Business Integrity Strategy, ensuring transparency within this vital industry.
According to media reports, the government has decided to establish four reform commissions focused on health, media, labor, and women’s rights in the second phase of its reform initiatives across various sectors. Welcoming this move, TIB Executive Director Dr. Iftekharuzzaman said, “We have to keep in mind that the capture of policy frameworks by a subset of the private sector, resulting in unaccountable use of corporate power including irregularities, corruption, money laundering, and collusion with political and bureaucratic actors, so supporting the emergence of authoritarianism in our nation. While ensuring justice is crucial, it is impossible to achieve effective results by excluding such a key sector from efforts to realize the dream of a discrimination-free Bangladesh. It is imperative to guarantee the presence of the private sector in the interim government structure in order to handle this scenario.”
Calling upon the interim government to ensure transparency and accountability in the private sector, Dr. Zaman further said, “The exploitative system, established through the collusion between the fallen authoritarian government and a part of private sector, was not only strangling the potential of the entire economy but also hindering the natural development of the private sector. To prevent such situations in the future and build a sustainable economic system, TIB believes that formulating a roadmap and implementing a Business Integrity Strategy within the privately owned business sector is essential. To this end, TIB has called for the formation of a special commission.”
TIB ED said, “Initiatives to reform the financial, social, and political structures are commendable, as they are 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. On the other hand, we are concerned about the fact that the state reform agenda completely ignores the private sector, which is the sector that contributes the most to employment in the country. Reforming the private sector and ensuring its participation in ongoing reform activities is essential. It will be challenging to address market disorder and restore order to the economic system in the absence of this.”
Media Contact:
Mohammad Tauhidul Islam
Director, Outreach and Communication
Phone: +8801713107868
Email: tauhidul@ti-bangladesh.org
