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'Bangladesh's example of how fast a strong economy becomes weak to be taught in textbooks'

Published : Sunday, 7 April, 2024 at 11:42 PM  Count : 1343

'Bangladesh's example of how fast a strong economy becomes weak to be taught in textbooks'

'Bangladesh's example of how fast a strong economy becomes weak to be taught in textbooks'

Centre for Policy Dialogue (CPD)'s distinguished fellow  Professor Mustafizur Rahman said Bangladesh's example of how fast a strong economy can become a weak one will be placed in the textbooks.

He said Bangladesh’s economy was in a good position even 18 months ago, but now the situation is very uncertain.

Prof Mustafiz said this while speaking as the key speaker at a seminar titled "Macro Economy Stability and Next Budget’ organised by Economic Reporters' Forum (ERF) in its auditorium on Sunday, reports UNB.

State Minister for Finance Waseqa Ayesha Khan was present at the seminar as the chief guest while ERF President Mohammad Refayet Ullah Mirdha in the chair. Former BGMEA President Anwar-Ul-Alam Chowdhury (Parvez), and business leader Shams Mahmud also spoke at the seminar.

State Minister Waseqa Ayesha said that initiatives have been taken to reduce tax in the next budget.
"The National Board of Revenue (NBR) is scrutinizing sectors in this issue. Now there is no need for tax breaks in so many sectors. Priority projects will be given importance in the next budget as well," she said.

Apart from this, discussions are going on how to increase private sector investment, she said.

She further said that all people would be brought under the universal pension system in the next budget.

CPD’s Fellow Mustafiz also said, "If there is a problem in the economy, it will be the first to suffer. Then it's bleeding. Later gangrene occurs. In the end, surgery is required. So it is better to solve the problem of the economy in the beginning."

He said, "A businessman travels abroad in business class 10 times a year, drives a Mercedes Benz all year round. But looking at the income on his tax records, it looks like he needs a charity. Sometimes he is a bank loan defaulter."

The challenges of the 21st century cannot be met with 20th century institutions. So the institutions and regulators should be reformed and allowed to work independently, said prof Mustafiz.

END/UNB/SZA

Related Topics

Bangladesh   strong economy   becomes weak   textbooks  








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