Dilemmas are a useful concept for exploring leadership practices and decision-making process. Preserving the integrity of the state and yet to be representative-this classic dilemma is faced by Bangladeshi Public Sector Leaders (PSLs). Taking an interpretive approach, this research presents empirical insights in an important subfield of public administration, namely, lived experiences of PSL about the public sector reforms and governance practice. The researchers administered in-depth interviews and Focus Group Discussion (FGD). What emerged as the salient dilemmas of PSLs are: the dilemma of public sector leadership: the colonial legacy, power relationship dilemma in the system of government, domestic reform strategy versus donor reform strategy, public interest versus vested interest and lastly, commitment versus service to multiple stakeholders. It also identified that there is a significant presence of NPM overtones in the PSL response towards the reform programme that illustrates the prominent features of decentralization and bureaucratic entrepreneurship.