Dhaka, Oct. 8 -- Bangladesh stands at an important economic crossroads. The Policy Research Institute of Bangladesh (PRI) describes the economy as experiencing "fragile stabilisation rather than a strong recovery".

GDP growth was provisionally only 4.14 percent in FY26, industrial growth slowed to 2.86 percent, private investment fell to 21.53 percent of GDP, and fresh FDI equity inflows declined sharply. Private-sector credit growth has fallen to a 33-year low of 4.47 percent.

Against such a backdrop, the forthcoming spectrum renewal is much more than a telecom regulatory exercise. It is a test of whether public policy will help revive private investment or inadvertently weaken it further.

The temptation to view spectrum primarily as ...