When undertaken thoughtfully, deregulation can indeed reduce compliance costs and delays, lower barriers for small and medium enterprises, improve transparency and predictability, and enhance competitiveness and investment. But that is only one side of the story.

Permissions from at least 17 different ministries and departments of the government were needed for a cruise ship to be able to travel to Bangladesh from Sri Lanka in 2017.

Prime Minister Sheikh Hasina yesterday asked the public servants to shun the “red tape” culture and take up projects which would yield benefits for the country and its people.