Country is not apart from demands of people

Dr. Salehuddin Ahmed: Looking at the economic, social and overall development of a country, it can be seen that development depends on a healthy environment. And a healthy environment means maintaining a healthy and positive environment in political, economic and social fields, without which sustainable development is not possible.
Economists and sociologists would also agree that it is most essential for overall development. Many countries have improved on aggregate indicators. But being unsustainable has adverse effects on people’s livelihood. The situation prevailing in the country has seriously disrupted the overall environment. We have to proceed after reviewing the matter in depth.
It has been said for a long time that we have reached the milestone of development.
There is no denying this. Especially in the last 30 years we have improved in several areas. We are moving from underdeveloped countries to developing countries. But if we talk about overall development, like education, health, environment, people’s quality of life, everything is questionable.
Income disparity and wealth disparity in Bangladesh is increasing day by day. Many people say that Bangladesh is a country of unequal development.
Our development has not been balanced and egalitarian. Social and political unrest is responsible for this. Overall development is not possible only through some economic policy strategies. We have been under economic pressure for a long time. Those responsibilities have been placed on the shoulders of multifaceted crises in the outside world. First it was called the Corona epidemic, then came the Russia-Ukraine war and finally the Gaza war was blamed. But our crisis is more internal than external. And the internal challenges are getting more complex by the day. If we do not realize this yet, we will have to face more difficult situations in the future. Our progress will be hindered. Many developing countries are stuck in one place for 15-20 years. Again, there are many lower middle-income countries which are stuck in one place for 20-30 years. Such is the situation in many countries in Africa and Latin America. Behind this situation, they are responsible for the social and political instability of those countries. There are no human rights, no democracy; Social inequality is evident. They have many mineral resources and energy reserves. But due to the unstable political situation, its full benefit is not being brought home, rather it is being smuggled abroad.
A few countries, however, avoid the developing country trap and enter the list of developed countries. Notable among them is Singapore. Several other countries have made considerable progress; Such as Vietnam, Thailand, Indonesia and Malaysia. All the mentioned countries had many political problems. Those countries have solved it or are trying to solve it. But there is no focus on solving the problems we have. Covering up problems and moving forward somehow. Currently, the country’s economy is very fragile. We are in bad condition in all sectors of the economy including inflation, reserves, exports. On the other hand, the situation in the capital market is worse. Although the government statistics show these sectors doing well. Many mistakes are being noticed in the statistics. A few days ago, after the discrepancy in the export figures, there was a major discrepancy in our revenue figures. But these are not indicators of real development. The government says development should come first, democracy will come later. But this argument does not hold up anymore. We are not making real progress either. Everyone is seeing how the state of democracy is.
If we look at our financial sector, we will see that there are many problems. And remember, financial crisis is like a contagious disease, spreading everywhere. The Great Depression of the 1930s and the collapse that began in the housing sector spread to the financial sector. He still has his hair. If we have a crisis in the financial sector, it will spread to other sectors as well.
If there is an economic crisis, basic things such as education, health, and treatment cannot be fulfilled. There is a saying, bad things spread fast but good things take time to spread. The damage done to our economy will take time to recover. Another thing needs to be said, when Bangladesh became independent, everyone was involved in the reconstruction of the war-torn country. Everyone took spontaneous part in the economic restructuring of the country. Especially the role of NGOs is significant. BRAC is a shining example in this regard. Besides the government, many NGOs played a role in the overall development of the country. It is not true that only one party government has done all the good work in the country. Several post-independence governments have contributed to it. Balanced development will not happen unless the participation of all levels of people and all political parties is ensured.
As a result of recent unrest, the image of Bangladesh has been severely damaged in the world. Uncertainty has been created in the business of the country. And if there is uncertainty, foreign investment will not come. As a result, there will be a negative impact on business. Many foreigners will not be interested in business. Big businessmen are getting affected, many small businessmen are sitting on the road. This uncertainty should be removed and peace should be brought back to everyone’s mind. All parties need to be tolerant and more responsible. If there is a dichotomy, sustainable and holistic development will not be possible. We need to refine our development strategy for the welfare of people and create employment for people.
Many questions have been raised about the competence, integrity and commitment of those concerned at various levels of government. Information about bureaucratic irregularities and corruption is coming to light. There are more irregularities and corruption inside than what is being revealed. The government should understand these issues. Many people talk about doing everything in the interest of the country in political speech. But remember, country means people. If you work in the interest of the people, you work in the interest of the country. Not the country except the people. Country is abstract but people are tangible things. If we don’t get it right, the country will go backwards.
Dr. Salehuddin Ahmed: Former Governor, Bangladesh Bank