Staff Correspondent

Nearly a quarter of the MPs could not make it onto the list of the Awami League nominees in the Jan 7 general election, and now Sheikh Hasina has dropped ministers from key portfolios such as finance, planning, commerce, agriculture, textile and jute, foreign affairs, health, and telecommunications.

For the 37-strong new cabinet - a blend of experienced and new faces - successfully navigating troubled economic waters will be the main challenge, believes M Humayun Kabir, an analyst of international relations.

“We'll need to work to boost trade, investment and remittances and recover our image in the international community,” the former ambassador said after the Cabinet Division unveiled the new council of ministers.

He also feels political stability is required to spur economic growth.

“It’s up to them [new government] whether they will negotiate with the BNP or keep it [political situation] as it is now. Because, it may become difficult to accomplish many tasks if there’s no stability in domestic politics.”

One deputy minister and one state minister have been upgraded to full ministers in the new cabinet. Hasina also brought back as ministers five leaders who had experience of working in her cabinet.

Many of the old guards and senior figures have been dropped from the new council of ministers. Among the 25 full ministers, seven are completely new. There are as many new faces among the 11 state ministers.

This mix of the old and the new will help the government speed up its work, believes Humayun.

“The biggest thing is - Hasina’s experience from the past 15 years as prime minister will be an asset to the council of ministers. The experiences of the old members are also important. The new ones will be able to gain own experience by working with the old ones,” he said.

Professor Niaz Ahmed Khan of Dhaka University’s development studies thinks restoring order in the financial sector will be the biggest challenge for the new government.

In his words, the old cabinet members “must bear” some responsibilities for the current “weaknesses” of the economy.

What will the government have to do to deal with these weaknesses?

Prof Niaz said: “The challenges and agenda in the financial sector are obvious following intense debates in the past three months. The possible way-out of the situation has also been discussed in programmes of economists. Everyone knows what should be done.”

He believes Bangladesh has the right set of efficient people to lead the financial sector out of crisis.

“It should be considered a national issue now. The time has come to establish good-governance in the banking sector, increase investment, check the rationality of the floor price on the stock market, and see if the useless mega projects should be continued with,” the Dhaka University teacher said.

“We’re truly going through a crisis. Although we are a bit weak, we need to look forward, not backward. It is more important to prioritise further development than thinking about what has happened.”

Political analyst and observer Professor Nazmul Ahsan Kalimullah said he was not surprised at the list of new ministers.

In his opinion, they have three tests before them – foreign affairs, economy and good governance.

“We hope the new government will take a look at the issues with the international community and address them as expected. They must deliver on their words to get the better of the challenges in the economy and ensure good governance,” he said.

Journalist and columnist Bibhu Ranjan Sarker emphaised coordination of efforts to cut the income inequality that widened despite visible development in the past 15 years of the Awami League government. “This will determine how successful the new government will be.”

Some of the Awami League’s allies who lost the election alleged irregularities, creating a lack of trust, he said. “Many things are depending on how these issues will be settled.”

Security analyst retired major general Abdur Rashid is confident about the selection of about the new ministers.

The new cabinet, he thinks, will have to find a way to tame inflation and cut corruption.

“Their job will be difficult if they cannot contain these two things. Those having an image crisis have been dropped. The ones who have been brought in are good enough and I think they can keep up on the good work they did in the past.”

Mohammad Abdur Razzaque, chairman of private think-tank Research and Policy Institution for Development, said the government knows well where the problems in Bangladesh’s economy lie.

“The main problems are inflation, dollar shortage and irregularities in the financial sector. It’s time for bringing reforms to these three areas. Because such reforms are painful in many cases, and no government wants to embark on them before an election.”

If the government can carry out these reforms, Bangladesh’s economy will be on the right track for a long time, Razzaque believes.