The Transparency International Bangladesh has called upon the government to form an independent Economic Strategy Advisory Committee to address the potential fallout of global economic crisis and keep up economic performance achieved so far.

The TIB made the call at a time when the global economy is battered by the coronavirus pandemic and Russia's Ukraine invasion, according to a press statement issued on Friday.

TIB executive director Iftekharuzzaman said that it would be unlikely for the country to remain immune to the impending global economic challenges and uncertainties as demonstrated by the prime minister’s thoughtful call to exercise austerity and explore other means of preventing the impending crisis.

‘We have no doubt that the government will do everything it can to not only successfully confront the crisis, if any, but also retain growth,’ he said.

‘Therefore, we call upon the government to form an independent committee to complement and strengthen efforts to do the task.’

Drawing attention to the ever-increasing socio-economic fallout that has been exacerbated by the twin evils of Covid and Russian aggression of  Ukraine, Iftekharuzzaman said that international experience showed evidences that amid such crisis, economic and financial management in nearly every country were exacerbated by deeper and wider governance deficit, corruption and illicit financial transfers including money laundering which could contribute to increased poverty, marginalization and deprivation of fundamental human rights of common people.

The statement reads that the main task of the committee should be to form strategic guidelines on how Bangladesh can escape and minimise the adverse effects of global crisis in short and medium term, and at the same time ensure that the lofty goals of the Perspective Plan 2021-2041 remain on course like the status of high middle-income by 2031 and high income by 2041 side by side with the specific targets of eliminating extreme poverty by 2031 and achieving zero poverty by 2041.