Dhaka, April 15 -- Unarguably, Bangladesh economy pivoted into transition after the regime that was in power for over a decade and a half was ousted violently, leaving little by way of continuity in economic policy making. Restructuring and re-configuring the shattered financial sector rightly received top priority of the interim government. Monetary policy instruments were prudently used to rein in inflation that obstinately hovered around double digit. Reversing the chronic practice of money laundering, attempts have been made to retrieve some of the money siphoned off to safe havens. Public sector spending, particularly under the annual development plan, has been rationalised.

An initiative has been taken recently to develop a new ind...