Too many tasks, too short a time

The to-do list for the interim government in 2025 gets even longer. 

From fighting corruption and bringing back assets stolen from Bangladesh to completing trial of Sheikh Hasina and the bigwigs of her cabinet on charge of July massacre, from improving law and order to containing disgruntled inflation, from creating atmosphere conducive to a free and fair election and restoration of investors' confidence, from curing ailing health of the banking sector to expediting the economic growth, from creating a national consensus for implementation of massive reform initiatives to improving the human rights situation are among many other tasks the government needs to accomplish this new year.

This is a herculean task indeed. And the time is short. People's wholehearted support for building a better Bangladesh is the biggest strength of the interim government.

The reform commissions will come up with their proposals in early January for reforms in constitution, judiciary, election system, police and administration. A national committee led by the chief adviser will be formed consisting of the chiefs of these commissions to forge national consensus on the proposed reforms.

Some reforms, particularly those for curing the ailing health of the financial sector and creating ground for a free and fair election need to be implemented fast. The ground for implementation of other needs to be created so that they could be implemented even after the end of the tenure of the interim government.

The new year appears to be crucial both for democratic transition and putting the economy on track. This is not an easy job for an interim government.

The fundamental difference between the just concluded year and the new year is immense. Unlike 2024, the new year began amid high hopes generated in the July uprising that ousted Sheikh Hasina's authoritarian regime.

Which comes first: Reforms or elections?

The spirit of the mass uprising, spearheaded by students under the banner of the Anti-Discrimination Students Movement, is ingrained in the platform's name – ending discrimination.

The interim government, headed by Prof Muhammad Yunus, seems to have embraced the spirit of the July mass uprising. It initiated an uphill battle to set right all three branches—legislative, executive, and judicial. Restoring public order was the first challenge for the new administration, which took up a series of reform initiatives, indicating its commitment to reconstruct institutions through long-pressed reforms. However, debates are already emerging. Who will carry out the reforms? This interim government or the next elected one? How long will this government remain in office? Reforms first, or elections first?

Chief Adviser Prof Muhammad Yunus has already announced a tentative timeline for the next general election between the end of 2025 and the first half of 2026. Though this announcement removes some uncertainty about elections, questions remain about how the political situation will unfold in 2025.

The New Year sets in amid both hopes and concerns for businesses. Steady growth in remittance and exports, as well as the central bank's initiative to check money laundering and loan defaults, offer hope for a better environment for investment. However, worries over inflation and interest rates remain, on top of political stability and law-and-order situations.

Tasks growing too hard to catch

Political, social, economic, and regulatory institutions in Bangladesh were never strong and functional as they should be for a functional democracy and sustainable economic growth. Those have been brought almost to their knees during the part regime.

Economist Prof. Rehman Sobhan explained at an event in December how long-prevailing political and social structural problems caused "mal-governance" and stressed the need for corrective actions through reforms.

But the latest row over administrative reform proposals indicates how tough the task is going to be.

As expectations run high, the to-do list gets longer for the interim government. The Economist has chosen Bangladesh as its Country of the Year for "toppling a despot and taking strides towards a more liberal government."

The British magazine says the "temporary technocratic government, backed by students, the army, business, and civil society," has restored order and stabilised the economy. "In 2025, it will need to repair ties with India and decide when to hold elections – first ensuring that the courts are neutral and the opposition has time to organise. None of this will be easy," it adds.

For politics, businesses, and public life too, the year 2025 may not be easy-going.