The first task of the BNP government should be to carefully identify and address short-term problems. For this, a task force is necessary, which should also include economists. The BNP government, even if payments are required, should appoint a group of economists to prepare a research report evaluating the economic tenure of the interim government. This will help the new government in policy making and increase caution during the economy.
The hope is that the BNP government elected in 2026 will be different from the BNP governments of 1991 or 2001. The current Prime Minister must demonstrate through action whether he has learned from modern economies and Western democracies during his 17 years in exile. The slightly unconventional approach will inspire the younger generation, strengthening the belief that the government is moving towards a developed nation. For example, in this technological age no one reduces weekly holidays, rather increases them.
To overcome the energy crisis, work from home system should be introduced where necessary. Clock time must be permanently advanced by at least half an hour. The fiscal year should be aligned with the calendar year. A separate revenue ministry should be set up. Traffic congestion cannot be resolved without expanding the metro rail system. Appeasement of extremist attitudes has not enriched any economy in the world. Women should be appropriately included in all areas of work. Progress can be made by defining a clear national vision and strengthening foreign relations based on strategic and trade interests. These are the basic principles of building a cautious economy.
* Dr. Birupaksha Pal is Professor of Economics at the State University of New York at Cortland, USA.
*The views expressed here are the author’s own.