Dhaka, Jan. 27 -- Bangladesh, once hailed as the "Next Asian Tiger" and having made remarkable progress in poverty alleviation, export growth, and social development, now faces unprecedented challenges ranging from global economic uncertainty to domestic structural inefficiencies. Over the last 15 years under the previous regime, rising inflation, a widening trade deficit, declining remittances, and vulnerabilities in key sectors like RMG and agriculture have placed the economy at a crossroads.

Critics argue that excessive government intervention, protectionist measures, and a focus on large-scale infrastructure projects at the expense of social welfare programs hindered private sector development and limited competition. Furthermore, al...