During his lecture at the annual international research conference organized by the Bangladesh Institute of Development Studies (BIDS) on Saturday, CPD Chairman and eminent economist Prof Rehman Sobhan emphasized the growing influence of crony capitalism in Bangladesh.
He pointed out that over the past decade, this phenomenon has spread from parliament to district, upazila, and even union levels, fostering an undemocratic attitude within the government.
Prof Sobhan's lecture, titled “Agenda for Economic and Social Reform”, highlighted key structural issues hindering the country’s progress.
He argued that the lack of institutional reforms has led to a systemic problem, undermining the potential for sustainable development.
He said: "If reforms are not carried out, the nation's development will remain stunted."
He also stressed that Bangladesh’s export sector should not remain solely reliant on the garment industry, emphasizing the importance of diversification.
The professor further discussed the role of the state in fostering growth, particularly in industries where market forces fail to drive progress.
He cited sectors such as construction and ceramics, where state intervention is necessary.
However, he said that the government is currently unable to play an effective role in these areas due to structural challenges.
Acknowledging improvements in social indicators like sanitation facilities, maternal mortality, and child mortality, Prof Sobhan nonetheless expressed concerns about the rise of crony capitalism, which he believes has led to undemocratic tendencies in governance.
