In a virtual speech, Ali Riaz, distinguished professor of politics and government at Illinois State University, said the country held elections in three phases while institutions gradually eroded.
Professor Rashed Al Mahmood Titumir of Dhaka University's Department of Development Studies observed that a club of businessmen was sharing public assets among themselves.
Former Cabinet Secretary Ali Imam Majumdar expressed disappointment over reports of power tariff hike four times in a year and 81 per cent of the power sector subsidy being spent on capacity charges.
He blamed the government's inefficiency and corruption for this scenario and said that without a caretaker government, no election would be credible.
Syed Abu Naser Bakhtiar Ahmed, former managing director of Agrani Bank, said the banking sector is a major stakeholder of the economy, but it has now become fragile.
