With the nation watching a war of attrition in bated breath --- between the government and the 20-party opposition combine, ominous prospects loom.
In the murky developments over the last week centring on Awami League's observance of the 1st anniversary of the January 05 polls as 'Victory of Democracy Day', and BNP-led alliance's 'Democracy Killing Day', the nation has once again identified the political chasm that has kept the nation divided. The whole episode bodes ill for the country.
As a modern-day nation, Bangladesh has always looked for a firm base of democracy. The unsavoury reality is democracy has, time and again, eluded the hapless people. In a weird chemistry of politics, the country's economy has had to pay the price. The eruption of political face-off once again, too, is set to suck in the economy into its whirlpool.
Economists and businesses have expressed their grave concern at the much-dreaded adverse impact on the country's economy which would be spawned by political confrontations. No sector of the economy is prepared to see the return of the disruptions done to it in 2013 in the run-up to the elections to the 10th parliament. Amid the upbeat ambience in the world economy after the end of the global recession, coupled with a favourable position of stars --- the Bangladesh economy was able to recover from the losses incurred in those heady days. The relative peace from the early months of 2014 onwards was also a contributing factor.
Perhaps this fleeting state of economic euphoria had been at work in their subconscious mind, as the economists and businesses gave their reactions to an apprehensive prolongation of the fresh political feud. As different statistical surveys have shown lately, Bangladesh is making its presence felt in many global economic colloquiums. A lot of development partners including China and Japan, and multilateral donors have endorsed the country's march in socio-economic fields. Bilateral ties with India, Russia, Middle Eastern and Southeast Asian nations continued to be warm. In spite of repeated setbacks in the ready-made garment (RMG) sector, it kept struggling to regain its previous global position. Entrepreneurs involved with it have shown their optimism for a full revival of the apparel sector.
While giving an overview of the country's economic performance in the first half of the Fiscal Year 2014-`15, the Centre for Policy Dialogue (CPD) the other day came up with a mixed picture. While noting the country's favourable positions in the areas of rising remittance, fall in global petroleum prices, strong reserves and a stable exchange rate, it pointed out the local entrepreneurial apathy towards investment. The think tank blames it on the lack of confidence on the part of investors. It is understood, despite the 'relative peace' in the post-poll period, the spectre of political confrontations still haunts them.
Given the recent developments in the political arena, there are ample reasons for businesses to feel worried. In spite of the apparent calm and the signs of better days to come, the overall situation is still volatile. Political fragility has clung to the nation's neck like the 'Old Man' of Sinbad. Economy is not completely free of this stranglehold.
To speak caustically, we as a nation are now devoid of a collective dream. In the nine months of the Liberation War in 1971, and in the earlier decade, the nation was filled with dreams. A collective dream inspired us to move forward in the post-war times of the 70s. In the following decades, except very brief periods, we found ourselves shorn of all kinds of idealism over the future. We eventually got denigrated to a nation without a dream.
It is the politicians who instil in people the lessons of a collective dream. The drivers of the economy materialise it. If politicians err on this great task, people running the economy become helpless.
shihabskr@ymail.com
