Bangladesh has met all three criteria for graduating from Least Developed Country (LDC) status, and there is no valid reason to delay the country's transition to a developing nation, said Dr Debapriya Bhattacharya, head of the Committee on White Paper on the State of the Bangladesh Economy.
Speaking at a press conference organized by the committee at the Planning Ministry in Dhaka's Agargaon on Monday, Dr Debapriya said: "Analysis of the statistics shows that Bangladesh exceeds all benchmarks for LDC graduation. Therefore, postponement is unnecessary unless there is an economic catastrophe."
He noted that some trade groups benefiting from duty-free export facilities are lobbying for delays, despite the country’s readiness.
"A section of traders, who have been enjoying duty-free benefits, want to continue these privileges indefinitely. Their influence has been evident over the past 15 years," he added.
Committee member Imran Matin highlighted stark economic disparities, stating that 85% of the country's assets are controlled by just 10% of the population.
"If those above the poverty line abstain from work for two days a week, the poverty rate would double," he said.
The White Paper Committee, formed on August 28, submitted its 400-page report to Chief Adviser Professor Muhammad Yunus at his Tejgaon office on Sunday.
The document provides an in-depth analysis of the economy, detailing years of mismanagement and data distortion.
Key findings suggest that under the 15 years of Sheikh Hasina’s administration, project costs rose by an average of 70%, while completion delays exceeded five years.
Of the $60 billion allocated through the Annual Development Program (ADP), an estimated $14–24 billion (Tk1.61–2.80 lakh crore) was lost to corruption, including political extortion, bribery, and inflated budgets.
The report identifies widespread fund mismanagement during land acquisitions and the appointment of politically favoured project directors as critical factors undermining infrastructure and social investment efficiency.
Bangladesh is set to graduate from LDC status in 2026 after fulfilling criteria related to income, human assets, and economic vulnerability.
The transition is expected to end certain preferential trade benefits but will enhance the country’s global stature.
Despite calls for postponement from certain sectors, the government has so far maintained its commitment to the timeline.