"So far, I know that there were discussions over it and now the process is going on. But I cannot tell you exactly when it will be established," he told the journalists after the launching ceremony of "Promoting good governance: key reform challenges facing Bangladesh".

The foreign adviser spoke as the chief guest at the function organised by Bangladesh Enterprise Institute (BEI) in association with United Nations Development Programme (UNDP) at the BEI auditorium in the capital.

Diplomats and representatives of the development partners and NGOs were present at the function, which will be followed by six lectures on anti-corruption efforts, energy and power crisis, human rights, corporate governance and public-private partnerships, in next few weeks.

Iftekhar Ahmed Chowdhury said it would require a national consensus to establish the National Security Council.

The government will figure out the national consensus through the ongoing debates on the formation of the Council, he said responding to a query on the mechanism of having national consensus over the issue.

Referring to revamping the foreign policy, the adviser said, "We shall have a foreign policy that ensures national interests. The ministry's role in this regard is to identify the national consensus and work accordingly."

The government is working for capacity building of the foreign missions and officials for better negotiations in multilateral and bilateral frameworks, he noted.

Mentioning that the country witnessed ineffectiveness of parliament, widespread corruption both in private and public sectors and highly polarised politics in past years, the adviser said the present government had undertaken reform measures to bring about positive changes which include strengthening the Election Commission, Public Service Commission and Anti-Corruption Commission.

Responding to a question on how wise it is for the government to go for so many reforms within a 16-month timeframe, he said the government's goal is to establish an institutional and legal framework, which will be sustainable and help the next governments ensure better governance and rule of law.

"No agency of the government will be above laws," he said, adding that the government wants to set a parameter to make a shift in the public mindset about crimes and corruption.

When asked if the government has any cost-benefit calculation on the export of manpower and remittance, the adviser said there was no such calculation but it would be imperative to do the cost-benefit calculation.

BEI President Farooq Sobhan, who presided over the function, said the caretaker government, which is unique in nature, has many challenges in preparing a level playing field for the national election and establishing good governance in the country.

UNDP Country Director Manoj Basnyat said they were happy to be associated with the process of organising a series of lectures expected to analyse the issues on good governance to bring significant changes in Bangladesh.