Political stability must to achieve higher growth

Continuation of the existing political stability over the next five to 10 years, lower interest rate and ensuring the security of lives and assets are a must to accelerate private investments which is essential for achieving a higher economic growth, said a leading economist Sunday.
“The most important precondition is not only the current political stability but also an assurance that the stability will continue for at least five to 10 years,” Dr AB Mirza Azizul Islam, a former finance adviser to a caretaker government, told a post-budget discussion in the city, according to a news agency.
He said nobody will go for private investment as long as there is an ‘uncertainty’ over the political climate.
Reducing the rate of corruption, improving the efficiency of the administration to avert delay in project implementation and lowering lending interest rate which is on the rise will have to be ensured to boost investment for achieving a higher economic growth, he said.
Metropolitan Chamber of Commerce and Industry (MCCI) in collaboration with Policy Research Institute (PRI) arranged the discussion titled ‘Budget 2014-2015: Views of the Business Community’ at its auditorium in the city.
State Minister for Finance MA Mannan, MP spoke as the chief guest at the programme held with MCCI President Rokia Afzal Rahman in the chair.
PRI Executive Director Dr Ahsan H Mansur and MCCI committee member Adeeb H Khan made two presentations at the discussion.