Citizens must be protected from uncontrolled inflation
Emeritus Professor at the Department of Development Studies, University of Dhaka Dr Atiur Rahman termed the proposed budget for the financial year 2024-25 realistic.
Dr. Atiur Rahman
- Economist
- Mon, 11 Dec 23
Economist and former Governor, Bangladesh Bank.
Independence of Bangladesh through the eyes of the youth
Bangladesh is one of the few countries which earned its independence through the short but intense armed struggle following the breakdown of all peaceful means of negotiation of transfer of power to its legitimate elected leadership by the ruling elites of Pakistan in 1971. It was then a province of the artificial state called Pakistan created in 1947 through manipulation of religiously pampered ‘nationalistic’ identity which crumbled into pieces under the pressure of all kinds of inequalities and injustices. The Bengalis constituting most of the population could sense the ‘false dawn’ of a loosely federated country called Pakistan which failed to integrate their deeper liberal, democratic and secular socio-economic and political aspirations right from its initial days of fractured so-called ‘Muslim nationhood.’ The frontal attack on the sanctity of their mother tongue Bangla by the Pakistani ruling elites made it crystal clear to the Bengalis that their aspirations for independence were not at par with those of Pakistanis. Soon the Bengali youth led by the then most promising student leader Sheikh Mujibur Rahman and his co-leaders embarked on the first phase of the Language Movement asking for providing the status of state language to Bangla for which they were arrested on 11 March 1948 and jailed for a few days.
Our future lies in industry
Export is the most crucial pillar of our economic development. The trajectory of our economy is not actually set on the lines of India's development, but rather on a trajectory of perennial tradition. It’s manufacturing-centric. The countries that have developed, such as the United States, the United Kingdom, or the European Union, have primarily advanced by focusing on the manufacturing sector. Countries in East Asia such as Singapore, South Korea, Thailand, and Malaysia are referred to as the East Asian Miracle. These countries have also built their economies by emphasizing the manufacturing sector. Bangladesh has also been formulating development strategies by emphasizing the manufacturing sector.
Bangladesh needs to expand export markets beyond traditional routes
Another constraint on Bangladesh's export trade is its overreliance on a limited number of countries. Specifically, Bangladesh's export market has become heavily dependent on the United States and the European Union. However, there exist numerous other countries and regions to which Bangladesh could expand its exports with concerted effort. There are promising opportunities to export Bangladeshi products to Eastern European countries, as well as to Muslim-majority nations in the Middle East, and Russia, Japan, Malaysia, and Singapore. To tap into these markets, proactive initiatives are essential. Bangladeshi embassies situated abroad can play a pivotal role in identifying potential export markets. Encouragingly, there are signs of improvement in exports to new destinations, including Japan.
Bangabandhu's position in language movement in historical context
The region that makes up Bangladesh today has a long history of language disputes. Despite this, 21 February 1952 remains a symbol of the language movement for most Bengalis. However, in the writings of most of the researchers, the time frame of this movement is around the period from 1948 to 1952. If you consider this movement a struggle for the status of the Bengali language, not everything will be said. The student leader, Sheikh Mujibur Rahman, has led this movement since the beginning of 1948. Although he led as a representative of the emerging middle class of East Bengal, he had a deep connection with the country's peasants, workers, and lower middle class. Therefore, in a public meeting held at Armanitola Maidan on February 01, 1953, as part of the first anniversary celebrations of the 1952 February Mass Explosion, he said, 'The language movement of 1952 was not only about language, but it was also our life and death struggle. We want to live like humans. We want food, we want clothes, we want shelter, we want civil rights. We want the right to speak. We want a society free from exploitation.' ('Secret Documents', Report No. 47, February 21 1953).
Historical and Present Economic: Context and Trends
Despite facing various limitations and hostile politics, Bangladesh has achieved remarkable progress in both the economic and social spheres in recent times. It is truly astonishing. During the Liberation War, the economy launched by Bangladesh was disrupted and endangered by political pressure. The pro-poor, agriculture-friendly, small and medium entrepreneur-friendly economy that started under the leadership of Father of the Nation Bangabandhu was interrupted in the post-1975 era. Initially, the per capita income was only 93 USD, but under Bangabandhu's guidance, it grew to around 260 USD in just three and a half years. However, after his brutal assassination, the country regressed and the economy started to decline. The average national income per capita fell to US$138 in the following year (1976) and further decreased to USD 128 the year after that. It took 13 long years to regain the previous stage. Despite this setback, Bangladesh's growth continued at a slow pace.