The interim government, led by Nobel Laureate Prof Dr Muhammad Yunus, marked its first anniversary on August 8, having assumed office after the fall of the fascist Sheikh Hasina regime. It took over at a time when the economy was reeling from a severe shortage of foreign exchange reserves, massive looting in the banking sector through large-scale money laundering under the previous regime, and the urgent need to restore a deteriorating law and order.
Facing such a challenging environment was not an easy task. Yet, with seriousness, a clear understanding of the gravity of the crisis, and honest intentions, the government has managed to overcome obstacles in many areas—though some issues remain unresolved.
One of the most notable successes has been in the power sector. The government effectively contained load shedding by taking decisive steps, such as importing additional fuel from abroad, boosting foreign exchange reserves, and clearing arrear bills to foreign energy companies amounting to about $5 billion. Most of these outstanding bills have now been footed.
The banking sector is another area where significant progress has been made. Measures to streamline operations and address systemic weaknesses have begun to yield results. Inflation has also come down, and it is a development in which the interim government’s policies have played a meaningful role.
Other achievements include the formation of several reform commissions tasked with providing reports and recommendations to guide policy changes. In foreign policy, the government achieved a major shift by reorienting Bangladesh’s international relations away from reliance on a single neighboring country towards a balanced, multipolar approach. This realignment expanded cooperation with the US, China, the European Union, and other global partners in areas such as trade, investment, medical aid, and crisis response. These moves have positioned Bangladesh as a proactive and respected regional actor. Efforts have also been made to revive the South Asian Association for Regional Cooperation (SAARC) and pursue membership in the Association of Southeast Asian Nations (ASEAN).
The foremost challenge ahead,
however, is to hold a free, fair,
and credible general election
that meets international standards
However, certain areas still demand greater attention. One such issue is the evaluation of the July martyrs. The interim government has stated that it meticulously listed all martyrs and injured participants of the July Uprising, providing nearly Tk 1 billion in savings certificates and allowances to 775 martyrs’ families, Tk 1.53 billion in aid to 13,800 injured revolutionaries, and sending severely wounded individuals abroad for advanced treatment and rehabilitation. Despite these steps, allegations persist that many victims remain unlisted.
The foremost challenge ahead, however, is to hold a free, fair, and credible general election that meets international standards. Dr Yunus has announced that the parliamentary polls will be held on any date in February 2026, before Ramadan. The Election Commission has confirmed it will announce the election schedule in December to enable the February timeline.
With this announcement, the nation’s focus has now shifted squarely to the election. In the past fifteen years, citizens were deprived of their right to vote due to Sheikh Hasina’s manipulation and electoral fraud. The declaration made by the interim government on July Revolution Day has been welcomed as a step towards restoring democratic rights.
The hope now is that the government will set a benchmark in conducting a truly credible election. The government could not achieve much success in combating criminals. As a result, reports are pouring on extortion, mugging and political violence. Sometimes some reports are very shocking. All the law and order-related forces need more concentration on containing crimes. Without more improvement in the law and order, it will be unlikely, the government will hold a free and fair election. For that to happen, improving the law and order must remain the top priority in the months ahead.
