Parties should not differ on key policy issues after polls: Aziz

FE Team | Published: December 07, 2008 00:00:00 | Updated: February 01, 2018 00:00:00

FE Report
Finance and planning adviser Mirza Azizul Islam Saturday urged the political parties not to differ on key economic policies after the ensuing general elections for the greater interest of the country's growth.
"I request the political parties to arrive at a consensus on some key and basic policy issues for accelerating the growth," said Mirza Aziz at a seminar on "Maximising growth for Bangladesh: A private sector vision."
His comment came when the caretaker government is scheduled to hold the national polls on December 29 to hand over office to the elected political parties.
If the political parties fail to reach consensus in some basic policy issues, the economic growth of the country cannot be sustained, he cautioned.
Country's apex trade body, Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), organised the seminar in the city.
The FBCCI presented a vision paper at the function in a bid to achieve 8.0 per cent inclusive growth to make Bangladesh one of the emerging nations in Asia.
Senior economist Prof Wahiduddin Mahmud said the country would be able to continue the economic growth even if it has "minimum good governance".
If we can get out from the "vicious circle" of "weak governance" and "low income", we will be able to maintain our economic growth in future days, he said.
Prof Mahmud said: "Many people say the weak governance in our political system is still persisting as in the past. It is difficult to get out from the vicious circle. But I think it is possible to leave behind the difficulties if people's awareness grows."
"Bangladesh is the only country in South Asia, which has maintained 6.0 per cent average growth in the last five years. Our target this year also is above 6.0 percent," he said.
He added if a similar growth rate is maintained next year, then it would be sustainable.
He suggested following the development model of Korea in 60's and of emerging China and India, which established the economic governance first before achieving their higher growth.
Finance adviser Mirza Aziz said: "There are limitations in accelerating growth and improving income distribution. But the poverty itself has declined in the country."
In response to the demands from the business community, the finance adviser said Bangladesh at present is in a position from where it is easy to attract more foreign direct investment without intervention of the Board of Investment.
About the export diversification, he said: "Usually the emerging sectors receive incentives from the government. But in Bangladesh the sectors, which have already established themselves are still getting incentives."
Terming "collusion" as a major impediment to the privatisation process of the state-owned industries, he said when the government seek proposals from the private sector they offer even less than half of the estimated value which make the process implementation difficult.
On the ailing energy sector, Mirza Aziz said: "I have tried to finalise the coal policy within my tenure. But so much debate has emerged that there is a need to add different opinions from different quarters which has delayed the process."
The adviser also asked the private sector to take responsibilities from their own position without depending fully on the government for ensuring the country's inclusive growth.
Economist Prof Rehman Sobhan said the political parties should have consensus on the development issues of the nation.
The political parties should also agree to ban blockades and hartals irrespective of their positions in the treasury or opposition after the elections, he said.
Finance secretary Mohammad Tareq said the east-west economic divide is the main obstacle to the inclusive growth of Bangladesh.
FBCCI president Annisul Huq urged the government to form a "task force" to find out ways for weathering the current global financial meltdown.
He also requested the political parties to ban hartal, do away with vandalism and not to use children in political meetings and processions.
Ifty Islam, managing partners of the Asian Tiger Capital Partners, presented the vision paper of the FBCCI aiming to achieve 8.0 per cent inclusive growth in the country.
In the paper, some 138 recommendations were made for achieving the 8.0 per cent growth target.
Among the recommendations, the FBCCI requested the government to generate power upto 5500-megawatt, go for coal-based power plant, construct Dhaka Elevated Expressway, set up four-lane road connecting major divisional towns with Dhaka and leave the ports and industries out of jurisdiction of hartals and blockades.
It has also proposed construction of Asian Highway, expanding education budget for vocational training, FDI expansion and establishment of an effective brand of Bangladesh, diversifying exports, setting up special economic zones for expatriate-Bangladeshis and a permanent Regulatory Reforms Commission, policies for introducing high yielding varieties of rice and encouraging joint-ventures for setting up backward and forward linkage industries for the garment sector.
Economist Zaidi Sattar and Abu Ahmed, President of Bangladesh Garment Manufacturers and Exporters Association Anwar ul Alam Chowdhury, executive director of centre for policy dialogue Mustafizur Rahman, BNP leader MK Anwar, Workers' Party leader Rashed Khan Menon, business leader Latifur Rahman and others also spoke on the occasion.