Accountability

The army, which played a key role in ushering in the interim setup, has grown wary of Yunus's intentions.

Anto Marcus, Secretary General of the Free Trade Zones and General Services Employees Union, confirmed that the company failed to consult workers as mandated by their collective agreement.

Adding to the complexity, the Power Grid Company of Bangladesh has yet to complete six substations critical for evacuating electricity generated at the Meghnaghat hub. Sources say these substations are unlikely to be ready before August.

Bangladesh Bank has confirmed the formation of a task force to evaluate the situation. It is also drafting a new “Bank Resolution Act” that will provide a legal and procedural framework for the proposed mergers and acquisitions.

This slump is largely attributed to domestic unrest, contractionary monetary and fiscal policies, and a broader climate of uncertainty that has discouraged both foreign and domestic investment.

Experts say that if Bangladesh is to achieve its ambition of becoming an upper-middle-income country by 2031, it must confront the growing dominance of business elites in its political system.

Papageorgiou's comments come in the wake of political shifts that have disrupted previous reform strategies. The new administration under President Anura Kumara Dissanayake has halted privatization efforts initiated by the previous government, led by Ranil Wickremesinghe.

Since the days of former CJI Deepak Mishra, there has been increasing criticism of the highest court.