Debapriya slams interim govt for inking deals with foreign firms

FE REPORT
Distinguished Fellow of the Centre for Policy Dialogue (CPD) Dr Debapriya Bhattacharya has strongly criticised the interim government for recently signing deals with foreign companies on leasing out management of two ports.
Speaking as the chief guest at a book-launching ceremony on Thursday, he said the country needs modernisaion of the port management to bring competitiveness of the businesses globally while the flow of both local and foreign investment requires to be enhanced significantly for overall economic growth.
But within just 13 days, the government approved and signed large foreign investment agreements over two ports. It largely surprised him, he said.
"This indicates there is no shortage of capacity-if they wished, reforms could advance just as quickly. But it did not. I think there are some sorts of gap of political interests," he said.
The economist said a good work could turn into a non-sustainable one if it is not processed properly without consulting the stakeholders. And it could be a burden for the next elected government.
About the quantum leap in non-performing loans (NPLs) in the banking industry, he said the long-concealed crises within the banking sector have started surfacing one after another.
"Hidden non-performing loans, provision shortfalls, capital deficits -every crisis is gradually coming to light. We never realised the banking sector was suffering from so many ailments," he remarked.
Presiding over the book launching event, former secretary Faruq Hossain said the interim government's deals were not something illegal and violation of rules.
He said those were PPP (Public Private Partnership) deals and the process was started four years ago.
Talking about the history of economic journalism in Bangladesh, Editor of The Financial Express Shamsul Huq Zahid said the space of economic journalism was very limited in the early 80s.
They have become largely active centering over the national budget.
As the economy started growing, he said, a group of vibrant economic journalists, including him, led by late legendary economic journalist AHM Moazzem Hossain initiated a platform called Economic Reporters' Forum (ERF) in 1993 and it helped economic journalism flourish here.
A book titled 'Economic Journalism' written by Editor of Arthosuchak Ziaur Rahman was unveiled in the event, which the participated guests believe will help young journalists and students of journalism to understand many things regarding the economic reporting.
President of DSE Brokers' Association Saiful Islam, Associate professor of mass-communication and journalism department of Dhaka University Dr Saiful Haque and writer of the book Ziaur Rahman, among others, spoke at the event.
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