The short-term policy changes are those that are to be implemented within three to six months from now. They are as follows:
Priority one: Mandatory term lengths for the prime minister
Political stability is an important aspect of ensuring a fair justice system, strong government institutions, and economic well-being of a nation. If political power becomes concentrated/consolidated around an individual, it increases the probability of political instability and hence overall deterioration in the quality of judiciary, government institutions, and economy.
In the context of Bangladesh, if an individual is able to become the prime minister (PM) an indefinite number of times, it may lead to excessive power consolidation and hence have negative effects throughout the nation.
Key considerations
Bangladesh’s legislative body is unicameral and all legislation is proposed, discussed, voted on and sent for approval through this body. Since the PM is chosen from and by the political party or coalition with majority seats, this system provides considerable power to the Prime Minister.
In addition to that, there is no term limit for the PM, that is, a member of parliament (MP) can be the PM several times during their tenure in Parliament as long as their political party/coalition has majority seats. This may lead to increased consolidation of power by the PM and may create an environment that is not conducive to democratic processes.
If an individual is able to be the PM several times throughout their tenure, there runs the risk of that individual holding undue influence on the nation’s legislative branch.
It is also important to note that several key institutions are overseen by the PM’s cabinet and cabinet members are chosen by the PM. For example, Bangladesh Bank is overseen by the Finance Ministry, Bangladesh Police is overseen by the Home Ministry and the Judicial Service Commission is overseen by the Law Ministry.
Hence, a prolonged tenure as PM might weaken the independence of these and many other key institutions. Furthermore, if an individual were to be PM for an indefinite number of times, it may also deteriorate the democratic process within their own political party or coalition and discourage other capable party members from voicing their concerns or ideas.
Recommendations
A two or three-term limit for the PM may act as a key safeguard against excessive power consolidation, political instability, and loss of independence in institutions. It may also act as a reminder that one will not be able to hold onto this vital position indefinitely and that political parties should focus on producing a variety of capable members who can take up this role.
Priority two: Regular checkup on commodity prices
The ongoing rise in commodity prices has become a critical concern for the general populace, exacerbated by syndicates controlling the supply chain from the farm to the market. This has led to inflated prices, straining household budgets and causing widespread dissatisfaction.
Given the essential nature of these commodities for daily living, it is imperative for the state to ensure that prices are fair, transparent, and reflective of the actual costs involved in their production and distribution.
Regular monitoring of these prices will not only help in curbing exploitation but also in stabilizing the economy by maintaining consumer confidence and ensuring equitable access to basic goods.
Key considerations
Commodity prices must be closely aligned with actual supply chain costs to counteract syndicate-driven inflation, ensuring fairness from farm to market. A zone-wise pricing strategy should be implemented, reflecting regional purchasing power disparities to maintain affordability across different economic zones.
Pricing should also be linked to product type and quality, with special reviews conducted when necessary to preserve consumer trust. The government must strengthen its regulatory role by creating a dedicated team to monitor and adjust prices regularly, ensuring stability and fairness in the market.
Recommendations and risks
To ensure fair and sustainable commodity pricing, the government should deploy multiple teams to consistently monitor and track prices, creating zonal price charts that account for fluctuations and remain stable for at least a week.
Additionally, quality training programs and a specialized application system should be established to support small farms in keeping up with competing prices.
The government can purchase products from small producers and control additional stock, which can be used to manage market demand while empowering small producers.
By collecting data and transitioning to tech-driven predictive measures, the government can better control future market dynamics.
Political stability is an important aspect of ensuring a fair justice system, strong government institutions, and economic well-being of a nation
Priority three: Launch a government tax portal linked to National ID cards
Launching a government tax portal linked to National ID cards can greatly enhance tax compliance and transparency in Bangladesh. This approach allows the government to streamline the tax filing process, making it easier for individuals and businesses to comply with tax obligations.
By linking tax records to National ID cards, the government can reduce tax evasion and broaden the tax base by ensuring that all taxable entities are accounted for.
This system also promotes accountability, as all transactions are directly tied to a unique identifier, minimizing the risk of fraud and errors in tax collection.
Key considerations
Implementing a tax portal linked to National ID cards requires careful planning to ensure data security and privacy. The system must be robust enough to handle large volumes of data and be user-friendly to encourage widespread adoption.
Additionally, integrating various government databases, such as banking and income records, with the tax portal is essential for accurate and comprehensive tax assessments.
Countries like Estonia have successfully implemented similar systems, where digital ID cards are used to access various e-government services, including tax filing, significantly reducing tax evasion and improving revenue collection.
Recommendations and risks
The portal should be fully digital and accessible online, allowing taxpayers to file returns, track their payments, and communicate with tax authorities efficiently.
Immediate risks include potential cybersecurity threats and the challenge of ensuring the portal's accessibility in rural areas with limited internet connectivity.
To mitigate these risks, the government should invest in cybersecurity measures, provide adequate training for tax officials, and ensure that alternative filing methods are available for those without internet access.
Additionally, public awareness campaigns will be crucial to educate citizens about the benefits and usage of the tax portal, ensuring its successful adoption.
Arneeb Mahbub, Product Marketing Manager, Indeed.com. Malika Begum, Strategy & Operations Senior Manager, Deloitte Consulting. Fauzul Kabir Chowdhury, CIO, Embedded Logic Operations (ELO). Nameer Rahman, Director of Policy, Ontario Energy Association. Zarif Ahmed, Associate Director - Structured Finance, KBRA. Rubayat Khan, Director of Health Programs, Endless. Aaisha Bhuiyan, Sr Technical Program Manager, Amazon. Shamima Khan, Product Manager, Intuit. Special Thanks to the B/deshi community of over 500+ Bangladeshis spread across USA, Canada, Singapore, Australia, and of course, Bangladesh. Read part one. Read part two.
