Dhaka: Chief Adviser’s Special Assistant on Finance Ministry Dr. Anisuzzaman Chowdhury today stated that Bangladesh’s transition from the list of Least Developed Countries (LDCs) will not impact the prices of medicines. ‘There is often a fear that the price of medicines in the country will increase significantly due to the country’s graduation from the Least Developed Country (LDC) in 2026. But in fact, it will not have much impact,’ he said in an interview with BSS today.
According to Bangladesh Sangbad Sangstha, Dr. Anisuzzaman clarified that the import of medicines not manufactured in Bangladesh is unrelated to the graduation from LDC status. He explained that even for medicines with intellectual property rights produced in Bangladesh, the country is not required to grant intellectual property rights under the World Trade Organization (WTO) provisions. This has been incorporated into the patent law of Bangladesh, ensuring that there is no cause for concern regarding these medicines.
He further elaborated that Bangladesh needs to adhere to certain procedures set by the United Nations for graduating from the LDC category. ‘As part of that process, we have to prepare documents and send them to the United Nations by October 31,’ he stated. These documents will then be evaluated by the United Nations Special Technical Committee next February, with Bangladesh’s performance being notably better in the previous evaluation last February.
Dr. Anisuzzaman also addressed the significance of the National Board of Revenue (NBR) reform, emphasizing its necessity. In most countries, he explained, policy-makers and revenue collectors are separate entities to avoid conflicts of interest. Therefore, the separation of the NBR was deemed crucial. Regarding allegations of bribery, corruption, and irregularities among customs officials under the NBR, he stressed the importance of adhering to religious values to combat these issues effectively.
Additionally, he warned money launderers that stern actions would be taken against those found guilty of laundering money. A committee has been established with the Governor of Bangladesh Bank as the chairman to address this issue.
Dr. Anisuzzaman also commented on the country’s economic stability, noting that despite power changes due to revolutions in other countries often leading to negative GDP growth and increased unemployment, Bangladesh has not experienced such setbacks. He acknowledged a slight slowdown in GDP growth but highlighted that the country’s poverty rate remains considerably lower than others. He commended the economic team for their success, stating that Bangladesh is uniquely positioned to assert its progress even after a mass uprising.