Interim government in the journey of dreams

On August 8, a new interim government took office. The surrounding environment is gradually returning to normal. There is an increase in foot traffic in offices and shops, and vehicle movement on the roads is rising. After weeks of instability, the general public is now breathing a sigh of relief. Prices of essential goods in the market are decreasing, and incidents of theft, robbery, looting, and disorder in neighborhoods have diminished. Public safety is improving, and peace is returning to everyday life.

Ensuring the safety of people's lives and property, as well as maintaining peace and economic stability, is now our top priority. We must guarantee protection for everyone, regardless of political affiliation, religion, or ethnicity. We need to create an environment free from fear and social pressure. Even now, students in our neighborhoods are organizing patrols, cleaning up street litter, managing traffic on the roads, and monitoring the markets. This situation may be very temporary. Soon, students will return to their studies after relinquishing their informal duties. Social order will be managed institutionally, and the general public will be freed from the fear of robbery, sabotage, and sudden attacks. The interim government's success will be measured by how quickly tranquility is restored to everyday life.

A new journey of dreams has begun at the cost of much blood and sacrifice. Since 1971, there has been no such scale of killing and destruction. The image of Abu Saeed, a student of Begum Rokeya University, taking bullets in his chest has not only brought tears to many but has also inspired and motivated people for a total movement. Hundreds of students and citizens have embraced martyrdom, shedding their fresh blood. They have sacrificed their physical well-being for the cause. This is a significant uprising. The last such uprising by students and the public occurred in 1990, leading to the fall of Ershad’s government. Bangladesh has now experienced its second popular uprising. Some are referring to it as a second liberation war or independence struggle. The use of these terms is literally confusing. Only those who participated in the 1971 Liberation War can truly understand the extent of its horrors and brutality, and the scale of destruction that occurred in Bangladesh. Those who were born after that time or were abroad during the war cannot fully grasp it. The people of this country fought the liberation war only once. Popular uprisings have occurred in the past, and this is another instance. They may happen again in the future if necessary. The names of those who have sacrificed their lives and will continue to do so will remain etched in tears.

The current interim government is led by Dr. Muhammad Yunus, a Nobel Peace Prize laureate. He is a renowned figure both nationally and internationally, with achievements that match his fame. During the previous administration, he faced considerable distress and hardship. Now, he is being embraced with respect and affection by the general people of Bangladesh. His appointment as the chief advisor is expected to enhance Bangladesh's image abroad. His advisory council includes 2-3 talented, skilled, and experienced individuals who will significantly aid in the government's financial and administrative management. However, many members of the advisory council have come from private institutions or organizations. They will undoubtedly gain valuable experience in government administration. In the previous administration, most members of parliament and the cabinet were businesspeople. Even after assuming office, they were unable to shed their business class identity, which hampered their ability to achieve and maintain economic stability. As a result, the general populace suffered greatly, leading to increased frustration with the previous government. In contrast, the current advisory council presents a different profile. Therefore, they should be able to take visible steps towards achieving economic stability and market control.

The primary challenge for the new interim government is controlling inflation. Bangladesh has been grappling with high inflation for the past two years. As of June, the average inflation rate for the previous year was nearly 10 percent. Although there have been some changes in the country's monetary and fiscal policies, these have not had a significant positive impact. Trust in banks is declining, with rising non-performing loans and incidents of embezzlement and money laundering leading to some banks nearing collapse. Small depositors are moving from one bank to another, seeking security. Government revenue collection has decreased, and without reform and better management of the financial sector, improvements are unlikely. The current interim government has a significant opportunity to make a substantial contribution in this area.

The stability of our macroeconomy has been disrupted due to COVID-19, natural disasters, continuous conflicts, and social unrest. The recent anti-discrimination student movements have further exacerbated the situation. Shutdowns, virtual shutdowns, terrorism, killings, destruction, curfews, and imprisonment have had a negative impact on people's mental well-being. Unemployment has risen, and the hardships of the working class have increased. It is estimated that the recent instability has caused direct financial losses amounting to hundreds of billions of dollars, along with indirect damages. The loss of business reputation and goodwill with foreign partners is a significant issue. There is an urgent need to recover from this situation.

We need to increase production in our factories and agriculture. It is essential to restore people's trust and interest in daily activities. Over the past two years, there has been little good news across various sectors of the economy, with agriculture being a notable exception. Due to continuous production increases, food security has been largely ensured, and there has been no need to import rice. However, due to the decline in foreign exchange reserves, the import of other agricultural products has had to be controlled. This has led to some supply shortages in the market and, due to the increase in the prices of certain inputs, the cost of goods has exceeded the purchasing power of consumers. Corporate culture and market syndicates have significantly troubled people. In the coming days, we need to increase production and reduce the cost per unit of production. Currently, we are in the production season for transplanted aman rice, but there is a shortage of chemical fertilizers. Import disruptions due to the dollar shortage are affecting the supply of these fertilizers. Additionally, the production in domestic fertilizer factories is being hindered due to the lack of necessary gas supply. Immediate action is required to address these issues. Otherwise, the negative impact will be evident in the current aman season as well as in the upcoming boro season.

Increasing the production of agricultural and industrial goods, reducing the import of daily necessities, expanding exports, boosting remittance earnings, halting the decline in foreign exchange reserves, and continuously preventing the depreciation of the currency are our imminent priorities. To achieve these goals, it is essential to restore peace and order in public life. It is now the right time to ensure that law enforcement acts as a force for the people, that the judiciary operates independently, and that government employees are working in an environment focused on public welfare. Immediate steps must be taken to build a corruption-free society. The most crucial aspect is to create an environment conducive to quality education. If the new government demonstrates visible progress in supporting the welfare of the people, alleviating their suffering and fulfilling public aspirations, it will bring a sense of satisfaction to the general population.

The anti-discrimination student movement has brought about a government change through a popular uprising, leading to the formation of a new interim government. There are high expectations from this government. Although it lacks the time to eliminate all forms of economic and social inequality and build an inclusive welfare state, a positive beginning can be made now. The constitution, which the new government swore to uphold, also stipulates the duration of its tenure. Our constitution specifies the timeline for new parliamentary elections after a parliament is dissolved, and this must be adhered to. The broader responsibility of state reform must be entrusted to the elected representatives of the future, as only they have direct public involvement and accountability. The country's students have already brought about significant change, and they will be the beneficiaries of this in the future. The nation will be governed through their efforts. Now, they need to return to their studies. They should develop into exemplary citizens through their intellect and values. After the Liberation War of 1971, we returned to the university very quickly and focused on our studies. Similarly, after the 1990 popular uprising, students also left the streets and returned to their classrooms. However, students, who are the architects of such significant changes, will always remain interested and involved in government management. It is hoped that the people of the country will duly recognize the contribution of students in this uprising. Justice will be served for every killing, and appropriate medical treatment and rehabilitation will be arranged for the injured. Compensation will be provided for the deceased and injured.

We make many promises in our personal, social, and national lives, vowing to build a better future. In reality, we often fail to fulfill many of these commitments. We frequently hear about democracy and humanitarian values, but their genuine reflection is rarely seen. Many governments have come to power under the guise of democracy in this country, only to eventually evolve into autocracy. The allure of power is so captivating to some individuals that they are reluctant to relinquish it. They use deceitful tactics to cling to it, and the consequences are often tragic. Over time, governments can become increasingly disconnected from the people, and their carefully constructed power structures can collapse like a house of cards. The recent fall of Sheikh Hasina’s government serves as a lesson in this regard. Our lives are very short and our work period is even shorter. During this brief period, we should strive to work as much as possible for the welfare of the public. We should aim to be revered among them by working for their happiness and peace.

The current chief advisor to the government, Dr. Muhammad Yunus, has stated that the primary task of his government will be to protect the people. There can be no greater promise than working alongside the public to ensure their happiness and safety. He will be supported by the country's 170 million people, including millions of students and youth. He aims to organize and lead them on a journey towards a dream, which will bring progress to civic life and prosperity to the nation. This is our expectation from the new government.

Author: Agricultural economist, researcher and Teacher.