Bangladesh’s interim government, led by Muhammad Yunus, has recently cancelled several national holidays linked to the history of Bangladesh’s liberation. This includes national holidays linked to the Liberation War, including March 7 which marks Sheikh Mujibur Rahman’s historic speech rallying the nation for independence, Bangabandhu’s birthday which was observed annually on 17 March, and August 15, observed as National Mourning Day to commemorate the assassination of Mujib and his family.
This move has sparked quite a bit of controversy and strong reactions from various political groups in the country. The reactions within Bangladesh have been intense and varied. The Awami League, led by former Prime Minister Sheikh Hasina, has strongly condemned the interim government’s decision, accusing it of trying to erase the legacy of Sheikh Mujibur Rahman and the 1971 War of Liberation. There have been reports of vandalism, with people destroying statues and memorabilia associated with Mujibur Rahman.
The interim government argues that the holidays were imposed by the previous regime and are now deemed unimportant. This move has sparked widespread criticism and debate, with many seeing it as an attempt to promote a different ideological narrative. The controversy continues to unfold, and it remains a hot topic in Bangladesh.
This development comes alongside Muhammad Yunus’s overt tilt towards Pakistan. Yunus has been engaging with Pakistan quite a bit. He recently met with Pakistan’s Prime Minister Shehbaz Sharif to discuss the revival of SAARC, a regional cooperation platform. Yunus has begun actively advocating for closer ties and cooperation between Bangladesh and Pakistan.
Since assuming the role of Chief Adviser of Bangladesh’s interim government on August 8, 2024 Muhammad Yunus has overseen a radical transformation of Bangladesh. In what is a troubling transformation, the country has embarked on a hawkish foreign policy, most visible in the interim government’s attitude towards India, which was a close under ousted Prime Minister Sheikh Hasina. Recent tensions between Bangladesh and India have been quite significant. India has expressed concerns over the treatment of its Hindu minority in Bangladesh, with reports indicating that over 600 people, including Hindus, were killed during the protests and violence that marked the change of regime. The recent Durga Puja celebrations in Bangladesh have been marred by violence and tension, including vandalism of temples and physical assaults. Despite the government’s assurances of safety, there have been over 2,000 reported attacks on the Hindu community. The interim government of Muhammad Yunus, has faced criticism for failing to protect minority communities.
The interim government led by Muhammad Yunus is also taking vindictive actions against Sheikh Hasina and the Awami League (AL). Under the direction of the Interim government of Yunus, the prosecution, led by Chief Prosecutor Muhammad Tajul Islam, filed two petitions with the International Crimes Tribunal (ICT) seeking arrest warrants against Sheikh Hasina and 45 other top Awami League leaders. The tribunal, chaired by Justice Md Golam Mortuza Majumdar, issued arrest warrants for Sheikh Hasina and 45 other top Awami League leaders, including former ministers. The tribunal has ordered the authorities to arrest and produce Hasina and the others before it by November 18. This move has intensified the political tension in Bangladesh, with many seeing it as a targeted effort to dismantle the Awami League’s influence.
It may be noted that Chief Prosecutor Muhammad Tajul Islam was appointed by the interim government led by Muhammad Yunus on August 7, 2024. His appointment and the subsequent actions taken by the International Crimes Tribunal have raised questions about the independence of the judiciary. By targeting the former Prime Minister for alleged crimes involving the uprising against her, Muhamad Yunus is manipulating the public into thinking that it is undertaking a serious reform process whereas in fact it is only instigating the common people against the former Awami League government.
There is no effort by Yunus to address the real issues that affect common Bangladeshis. The ouster of Prime Minister Sheikh Hasina and the subsequent political turmoil have taken a toll on Bangladesh’s economy. The country has faced significant challenges, including high inflation, low foreign exchange reserves, rising debt, and poor tax collection. The industrial and service sectors have experienced losses, and the agricultural sector has also been affected by severe flooding.The World Bank has revised its economic growth forecast for Bangladesh, lowering it to 4% for the fiscal year 2025, down from an earlier estimate of 5.7%. The political instability has also deterred potential domestic and foreign investors, further straining the economy. It’s a tough situation, and the interim government is completely clueless on reforms, with no roadmap to stabilise the economy and address these challenges. Yunus’s main preoccupation appears to be the dismantling of the financial structure created by the Awami League government that had placed global focus on Bangladesh in the last decade, as a major emerging economy.
With a single minded focus on being seen as a populist choice, Yunus’s actions are taking Bangladesh back to penury and underdevelopment.
The garment industry in Bangladesh, which is a vital pillar of the nation’s economy, has been severely impacted by the political instability following Sheikh Hasina’s ouster. The industry, which accounts for over 80% of Bangladesh’s total export earnings and contributes approximately 11% to the nation’s GDP, has faced significant disruptions. The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has reported substantial financial losses, estimating a shortfall of Tk 6,400 crore (approximately Rs 4,500 crore) due to factory shutdowns and communication breakdowns. The political unrest, coupled with catastrophic flooding, has led to a nearly 15-20% reduction in production compared to the same period last year. This crisis has not only affected production but also the supply chain of raw materials, causing delays in shipments and leading to a loss of orders from international buyers. The situation remains precarious, with industry leaders expressing concerns about the future stability of the sector. The recent events have certainly made the industry reflect on the stability and support they had under Hasina’s government.
Notwithstanding the precarious state of affairs, Muhammad Yunus’s interim government has decided to concentrate on trying to erase the history of Bangladesh’s independence and promote Pakistani ideology. The interim government has even taken steps to remove Sheikh Mujibur Rahman’s pictures from government buildings and public spaces. This move has been part of a broader effort to reshape the national narrative and reduce the emphasis on Mujib’s legacy. By removing Mujib’s picture from national buildings, cancelling holidays connected to the Liberation war, Yunus is attempting to diminish Mujib’s role in the nation’s founding. It is a malicious move with deep historical and political implications.
The economic outlook in Bangladesh has indeed become more challenging since the ouster of Prime Minister Sheikh Hasina. Political instability, and uncertainties in the production sector means that almost 18.7% of the population is living below the national poverty line, and 5.6% are in extreme poverty. It’s a tough situation, and the interim government will need to implement effective policies to stabilise the economy and support those most affected by poverty. But the interim government in Bangladesh, led by Muhammad Yunus, has failed to initiate meaningful economic reforms. Despite forming several commissions to address key areas such as the judiciary, election system, administration, police, anti-corruption commission, and the constitution, the progress has been slow and fraught with difficulties. The economic situation remains precarious, with high inflation, low foreign exchange reserves, and rising debt.
One would have expected that as an economist Muhammad Yunus’s main concentration would have been on trying to bring Bangladesh’s economy back on track. But his focus appears to be on playing politics over the footprint of the Awami League in the development of Bangladesh. Some reports suggest that Yunus has been relying on Islamic extremism to consolidate power, which has raised concerns among secular and progressive groups in Bangladesh. Taking steps like removing the ban on Jamaat-e-Islami meeting with Hefazat leaders, are clearly meant to encourage Islamist parties. These actions have sparked protests and demonstrations, particularly from the Bangladeshi diaspora and secular organisations. Yunus’s administration’s actions will have significant implications for the country’s political landscape and social fabric.
Under the cover of a reform agenda, he is consolidating power by appointing selected people at courts, increasing the military’s status and removing government regulation of radical Islamist organisations. (BP 24)
