Challenges are enormous

The shopping list is very long, and the priority list isn't much shorter. Everything is in disarray. The challenges are enormous, and if you start making a list, it won’t be completed in a day or two. Despite these challenges, you must start somewhere.

The interim government stepped into the ruins. They took on the responsibility to rebuild the country—from the economy to education—driven by the desires of the people, particularly the younger generation.

We have seen a good restart in the fragmented banking sector. It has already started rebounding. Depositors’ confidence is rising, and foreign corresponding banks are also trusting our institutions.

However, there are still major issues, especially in the banking sector, which was one of the hardest hit sectors during the fallen regime.

Now, it's time to focus on the transport system. It needs an overhaul across the country, but the capital city faces the worst of the traffic chaos and mismanagement. The past regime allowed this disarray to persist, sheltering transport owners with government connections. These crony businessmen saw it as an opportunity to make money rather than establishing order in the sector.

This cronyism has had a double effect. Buses have become tyrannical, holding city dwellers hostage to poor service. This has forced people, with even limited means, to buy private transport. As a result, the number of private cars in Dhaka has doubled over little more than a decade.

This interim government has a great deal of leverage. It should immediately take effective measures. Buses could be brought under a single company, and owners could be invited to include their vehicles through a competitive process. Buses must meet certain standards so that people are encouraged to use them instead of relying on private cars.

We can also learn from success stories in other countries. Delhi once faced similar problems but successfully brought the entire bus transport system under a single company. Dhaka could follow a similar path to streamline its chaotic transport system.