Originally posted in The Daily Star on 17 February 2026
BNP rightly deserves our congratulations for winning a decisive victory in the 13th parliamentary election. This outcome reflects an unequivocal mandate that is both politically and historically significant. Coming as it does at a critical point in Bangladesh’s democratic journey, this moment marks more than a change of government; it signals a renewed public resolve to restore democratic norms, accountability, and institutional integrity.
The election came after years of severe distrust in the electoral process, questions over legitimacy, and institutional strain, so the poll’s successful conduct has reinforced trust in the process as well as the principle that governments derive authority from the consent of the governed. For quite some time now, Bangladesh has faced deep polarisation, intolerance, and threats to its democratic foundations. Regressive and anti-democratic tendencies—whether institutional, ideological, or political—risked steering the country away from its foundational goals. BNP’s decisive victory can therefore be interpreted as a call to reverse this trajectory, and a public desire for accountable, forward-looking governance rooted in liberal democratic principles.
However, the road ahead is going to be bumpy, to put it mildly. A broad mandate alone cannot resolve deep-rooted structural problems. The BNP government will likely continue to face economic challenges and institutional constraints for the foreseeable future. This will test its capacity and sincerity not only to govern but also to transform the culture of governance in the country.
Economic reform imperatives
A key challenge will be stabilising the economy, which continues to face mounting pressures: growth has decelerated, inflation has eroded people’s purchasing power, foreign exchange reserves remain low, and public finances are tight. External debt has increased significantly in recent years, while the tax-to-GDP ratio has fallen to historically low levels. State-owned enterprises and the banking sector face persistent structural weaknesses, and confidence among both domestic and international investors remains fragile.
The new government should begin by restoring macroeconomic discipline. Containing inflation will need close coordination across ministries and agencies. Monetary policy must remain cautious and credible, free from political interference, while fiscal policy should prioritise stability rather than expand populist spending.
Tax reform is also unavoidable. The National Board of Revenue requires comprehensive modernisation, digitalisation, and total compliance. Broadening the tax base, especially by bringing all high-income groups and segments of the informal economy into the formal system, is crucial. Over time, reliance on indirect taxes such as value-added tax and import duties should be reduced, paving the way for a more progressive direct tax regime.
Banking sector reform is equally crucial. Proper asset quality reviews and regulatory oversight are necessary to rebuild confidence in the sector. Political patronage within the financial institutions must end. Without a resilient financial system, private investment cannot recover. As regards growth, the government should focus on diversifying exports beyond ready-made garments and deepening integration into regional value chains. Attracting foreign direct investment will depend on regulatory predictability and improvements in logistics and energy reliability. Ambitious growth targets must be matched by realistic implementation capacity.
Political challenges
Distrust among political actors, partly fuelled by fears of retribution and violence, is a reality that may persist. BNP will face pressure from its supporters to act quickly in addressing perceived injustices, but good governance demands restraint. If the new government resorts to or tolerates exclusion or retaliation, it will risk perpetuating the very cycle it has condemned.
Managing internal party discipline will also be crucial, as a large parliamentary majority can sometimes lead to complacency or factional rivalry. Strong leadership will be required to maintain unity while allowing constructive internal debate. BNP must also rebuild trust with minority communities and vulnerable groups. Elections often heighten anxieties among minorities, so a credible commitment to equal citizenship is crucial. BNP’s political maturity will also be judged by how it treats or engages with its opponents. In this regard, Chairman Tarique Rahman’s visits to the residences of top opposition leaders on Sunday marked a positive gesture, one that many hope will withstand the inevitable pressures or conflicts over governance in the coming days.
Strengthening democratic institutions
A central promise of this election was to restore democracy, which must now translate into concrete institutional reforms. Judicial independence needs constant safeguarding. Which means that appointment, promotion, and case management processes should be insulated from political influence. Parliamentary oversight committees must also function effectively, and the opposition’s voice in parliament must be protected.
Electoral institutions also need reform, particularly along the lines of the July Charter. Continued credibility of the Election Commission will depend on transparency, professional management, and impartiality. Meanwhile, the civil service must be depoliticised. Appointments based on loyalty rather than merit have long undermined governance in the country. So the new administration must work on curtailing the influence of political networks to ensure a professional, impartial civil service. Media reform and digital rights also deserve careful attention. We must remember that democratic consolidation is built through institutional habits, and these habits must be established early.
Beyond winner-takes-all
Bangladesh’s politics has long been characterised by a winner-takes-all mentality. Electoral victories have often resulted in monopolisation of power, marginalising opposition voices and weakening checks and balances. If BNP is serious about democratic renewal, it must consciously break with this tradition. Inclusive policy consultations will be a good starting point. Major economic and constitutional reforms should be based on cross-party dialogue and consensus. Appointments to constitutional bodies should be transparent and consultative, and parliamentary debates should be done with the letter and spirit of the July Charter in mind.
Meeting public expectations
The scale of public expectations now is naturally immense. Citizens want economic relief, employment opportunities, necessary institutional reforms, and improved governance. Managing these expectations will be quite difficult. Many reforms will not yield immediate results, and some may impose short-term costs. So it is imperative to ensure transparent communication about the associated timelines, trade-offs, and fiscal constraints.
Anti-corruption efforts must be credible and monitored at all times. Measures are needed to strengthen oversight institutions, improve transparency in public procurement, and expand digital service delivery to reduce opportunities for rent-seeking. Governance reform should be systematic, not selective or politically driven. Tangible improvements are urgently needed in public service delivery, particularly in health, education, social protection, and local government.
Finally, a word of caution: BNP’s decisive victory presents both opportunities and risks. It can enable bold reforms but it also carries the danger of overreach. The key deciding factor here is political judgment. The question is, can our leaders deliver based on the mandate voters have given them?
Dr Fahmida Khatun is an economist and executive director at the Centre for Policy Dialogue (CPD). Views expressed in the article are the author’s own.
