Expectations from Better Business Forum
Tuesday, 18 December 2007
The Bangladesh Better Business Forum (BBBF), a platform created recently by the present interim administration for promoting public-private partnership, held its maiden meeting in the capital Saturday last. The Forum though constituted late last month in the backdrop of sagging business confidence and declining investment has fulfilled the need for a high-level body where businessmen, experts and top government functionaries can have fruitful discussions on sustained promotion of trade and investment activities.
The country's economy is now going through one of the most difficult times because of both manmade and natural factors. High inflation and low investment are two factors that have been hurting the economy for sometime. Business and technocrat members in the first meeting of the Forum tried to convince the top-level government functionaries about the need for tackling inflation that has already crossed the double-digit mark and do the needful to restore business confidence, primarily by scaling down the intensity of the ongoing anti-graft drive. One of the technocrat members of the Forum, according to newspaper reports, advised the government to be extra-careful about the food situation and make all-out attempts to ensure a bumper Boro rice harvest this year. Reportedly, there surfaced opposing views at the Forum about the speed of the anti-graft drive which the donors as well as business leaders have identified as one of the major causes of 'erosion' of business confidence.
One cannot expect any result from the first meeting of an important platform like the BBBF. It is not that the people who gathered at the last Saturday's meeting are unaware of the problems facing the economy in general and businesses in particular. But close interactions between a small group of people-the number is 36 in case of the BBBF-do always offer the chance to understand the problems better and the possibility of getting some good suggestions to overcome those. The Forum which is headed by the chief adviser is not like scores of other committees formed by the government from time to time. It has got some important people who are supposed to deal with serious matters concerning trade and investment. But the members, belonging either to private or public sectors, might be able to deliver better results if they look at issues, including anti-graft drive, from the national perspective shunning egoistic approach or coterie interest.
The BBBF meeting decided to constitute five separate working groups that would separately deal with areas of finance, better infrastructure, government policy, business entry and operations and skill development. The working groups to be formed soon are expected to make recommendations on their respective areas before the next meeting of the Forum. The issues selected for the working groups are, actually, general in nature. If the working groups can make right type of recommendations in their respective areas, the Forum, subject to availability of resources, is expected to deliver results. But what the people do want right at this point of time from an important body like the BBBF is some relief from a serious problem-- the soaring prices of essential commodities-that has pushed their back to the wall. Besides, the Forum does also need to look into the complaint of 'erosion' of 'business confidence'. Why should businesses come up with such a complaint frequently when top government functionaries and other powerful quarters have repeatedly assured them of taking all possible steps to restore the same? There may be issues that are still bothering the businesses.
The country's economy is now going through one of the most difficult times because of both manmade and natural factors. High inflation and low investment are two factors that have been hurting the economy for sometime. Business and technocrat members in the first meeting of the Forum tried to convince the top-level government functionaries about the need for tackling inflation that has already crossed the double-digit mark and do the needful to restore business confidence, primarily by scaling down the intensity of the ongoing anti-graft drive. One of the technocrat members of the Forum, according to newspaper reports, advised the government to be extra-careful about the food situation and make all-out attempts to ensure a bumper Boro rice harvest this year. Reportedly, there surfaced opposing views at the Forum about the speed of the anti-graft drive which the donors as well as business leaders have identified as one of the major causes of 'erosion' of business confidence.
One cannot expect any result from the first meeting of an important platform like the BBBF. It is not that the people who gathered at the last Saturday's meeting are unaware of the problems facing the economy in general and businesses in particular. But close interactions between a small group of people-the number is 36 in case of the BBBF-do always offer the chance to understand the problems better and the possibility of getting some good suggestions to overcome those. The Forum which is headed by the chief adviser is not like scores of other committees formed by the government from time to time. It has got some important people who are supposed to deal with serious matters concerning trade and investment. But the members, belonging either to private or public sectors, might be able to deliver better results if they look at issues, including anti-graft drive, from the national perspective shunning egoistic approach or coterie interest.
The BBBF meeting decided to constitute five separate working groups that would separately deal with areas of finance, better infrastructure, government policy, business entry and operations and skill development. The working groups to be formed soon are expected to make recommendations on their respective areas before the next meeting of the Forum. The issues selected for the working groups are, actually, general in nature. If the working groups can make right type of recommendations in their respective areas, the Forum, subject to availability of resources, is expected to deliver results. But what the people do want right at this point of time from an important body like the BBBF is some relief from a serious problem-- the soaring prices of essential commodities-that has pushed their back to the wall. Besides, the Forum does also need to look into the complaint of 'erosion' of 'business confidence'. Why should businesses come up with such a complaint frequently when top government functionaries and other powerful quarters have repeatedly assured them of taking all possible steps to restore the same? There may be issues that are still bothering the businesses.