FROM PAGE B1

“While trying to counter that resistance, we encountered not just politics but also economics. And maybe even politics within economics.”

Energy Adviser Fouzul Kabir said economists are now in the chair of politicians.

He agreed that one and a half years was not enough for reform but argued that efforts were under way to set examples.

“Competition was absent in the government’s energy purchase. We have opened up competition for energy imports. Earlier, only four individuals were allowed to do that,” he said.

Zahid Hussain, former lead economist at World Bank Dhaka office, pointed to the high cost of doing business as a key barrier to growth, blaming it on banking troubles, fuel shortages and regulatory constraints.

He compared policy support to a sedative. “It temporarily eases pain. But in the absence or delay of structural reform, the cost of doing business continues to rise.

“As costs rise, the demand for policy support increases. In this way, we are trapped in a cycle. There is no magic solution, as far as I know,” Hussain said.

Cultural Affairs Adviser Mostofa Sarwar Farooki, Power and Participation Research Centre (PPRC) Executive Chairman Hossain Zillur Rahman, and Prothom Alo Editor and Publisher Matiur Rahman also spoke at the event.