The decade-long low-intensity armed conflict in the Chittagong Hill Tracts (CHT) that surfaced soon after the independence of Bangladesh (1971) due to the failure of the state-building project ended with the CHT Accord which was signed in 1997 between the government of Bangladesh and the Parbattya Chattagram Jana Sanhati Samiti (PCJSS). This study uses qualitative research methods to explore the fundamental research question of who is in the driver’s seat of the post-accord CHT peacebuilding process. A mostly top-down approach to peacebuilding has been used in the CHT due to an entirely donor-driven peacebuilding partnership between local and international stakeholders. Under this asymmetric power structure, the marginalization of local ownership is expected to produce unintended results in the peace process.