The Bangladesh government is set to establish two specialised technical committees tasked with comprehensively reviewing and modernising the methodologies used to calculate the nation’s Gross Domestic Product (GDP) and Consumer Price Index (CPI).
State Minister for Planning Zonayed Abdur Rahim Saki announced the initiative on Saturday, which is designed to bolster public confidence in official statistics. Speaking following a high-level exchange at the Bangladesh Bureau of Statistics (BBS) headquarters, Saki underscored the administration’s commitment to delivering an authentic reflection of the national economy.
Addressing a gathering of economists, academics, industry representatives, and government officials, Saki stated that the state holds a fundamental democratic and humanitarian duty to present accurate economic realities to its citizens.
The newly proposed panels will be responsible for evaluating existing procedures and recommending updated frameworks that strictly align with international statistical standards. One committee will focus exclusively on the CPI—a critical barometer for inflation and the cost of living—while the second will scrutinise GDP estimates. This includes a rigorous assessment of the quality and reliability of secondary data sourced from various domestic institutions.
In a move aimed at institutional transparency, the state minister confirmed that auditors would also examine historical statistical data to identify any prior inconsistencies. Acknowledging past discrepancies, he noted the necessity of understanding where data distortions occurred to ensure that future reporting accurately reflects ground realities.
The country’s current macroeconomic climate heavily underscores the urgency for precise data. Government efforts are actively focused on curbing inflation, with policymakers aiming to bring it down from its present rate of 9.42 per cent to a more sustainable target of 7.5 per cent. Accurate and transparent tracking of the CPI is deemed essential to gauge whether ongoing interventions to ease domestic price pressures are proving effective.
During the session, stakeholders comprehensively reviewed the existing methodologies behind major national indicators, including the Wage Rate Index (WRI), alongside broad inflation and GDP metrics.
To achieve these long-term statistical goals, Saki and researchers highlighted the necessity of adopting contemporary practices. This includes the integration of real-time data collection technologies and the fostering of stronger, sustained partnerships with universities and independent research bodies. Such modernised frameworks, attendees concluded, are vital for ensuring the credibility of national data and for supporting robust, evidence-based policymaking in the years ahead.
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