Putting economic agenda on election manifestos
Saturday, 22 November 2008
Syed Jamaluddin
Businessmen and their leaders at a convention on 15th of this month urged the major political parties to put economic agenda in their election manifestos on priority basis for accelerating the economic development of the country. This convention was intended for formulating macro-economic agenda. About 2000 business representatives gathered at the convention from across the country and also from abroad to suggest proposals. The consolidated recommendations will be submitted to the major political parties within this month. The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) organised the convention in Dhaka. The FBCCI outlined 51 recommendations for 21 sectors. The business leaders proposed that the next political govt should address the recommendations within 100 days of assuming power. Business people are also members of the society and they have the right to articulate their opinions about what is in their best interst.
The FBCC president mentioned in the convention that the country was losing 1.5 per cent of gross domestic product (GDP)due to hartal. Therefore, hartal is to be banned by enacting a law. Businesses also demanded that the use of children and under-18 youths as picketers in strike by political parties be banned under the same law. He also suggested the replacement of obsolete power plants and formulation of a comprehensive coal mine policy. The FBCCI president said there was a sense of uncertainty among the business people over the next elections and he hoped that there would be an elected govt. in the country through a credible election. He said, 'we want a transparent parliament and parliamentarians who will build a corruption-, hartal- and extortion-free society and develop the country's infrastructure'
Speakers in the convention rang the alarm bell that economic woes of the developed nations would have direct and indirect impact on the Bangladesh economy. It was pointed out that whichever political party came to power must tell the people about their economic priorities and carry forward the reforms taken up by the interim administration. The year 2009 would be most challenging for Bangladesh and the next govt. must be pro-active and business friendly. The fortune of apparel industry would hinge on how best Bangladesh could cope with the global financial crisis. Chittagong port, power and gas supply and infrastructure were the biggest hurdles to sustained growth. It was pointed out that successive govts overlooked the crucial needs of electricity and gas. No govt. has undertaken long-term plan for energy security.
As power shortage was hindering industrial growth and productivity, the business leaders said that Bangladesh should move forward to generate nuclear power and erect nuclear power plants to bridge the demand-supply gap. Power shortage robs the country of 1.5 per cent of GDP a year. The budget formulation should be based on economic reality and not on political agenda. Necessary steps should be taken to contain double-digit inflation. The next govt. was urged to provide social and political stability and an enabling environment for businesses to grow. It was suggested that the next govt. should set up a ministry of human resources for skill development and training to meet the needs of the global labour market. The issues of inflation, investment monetary policy and employment should get top priority of the next govt. The need for public-private partnership was stressed by the businessmen and entrepreneurs. The presentation by the business people was comprehensive and meaningful.
Daily newspapers have commented editorially about the recommendations of the convention arranged by the FBCCI. They have highlighted the key recommendations. According to these newspapers, business leaders have once again urged the political parties to refrain from calling country-wide hartal in the future. The on-going global economic meltdown further reinforces the need for constructive politics as opposed to hartals and cofrontational politics. Hartal is extremely detrimental to normal economic activity as industries, factories, sea-ports, railways, banks ,wholesale markets, educational institutions, offices and transports are forcibly shut down by the hartal supporters. In the past, such events turned violent damaging cars and buses and pelting stones to business houses. The cost of such a shutdown is colossal. According to these newspapers, the business leaders have spoken against hartal not only for themselves but also for the masses as a whole.
In view of cut-throat global competition, the politicians have to come out of hartal mindset and evolve other means to press forward their demands. Newspapers have generally supported the viewpoint of businessmen about hartal. Parliament is the right place to settle all issues. The upcoming political govts. should be tolerant and give space to the opposition in parliament so that they can voice their demands on national issues without any difficulty. Govt. must not block opposition meetings and rallies and stifles other forms of democratic expression. The opposition should not be pushed into an agitational mode. Politicians in our country should bring a breath of fresh air into their culture based on the experience of last two years.
It has been pointed out that the current reform process must continue after the election. Political considerations must not dominate the selection of projects in the Annual Development Programme (ADP). Revenue expenditure should be guided by economic considerations. Political stability is to be maintained after election. Economic diplomacy has to get priority. There must be exchange of views between the political parties, even if no meeting is possible between the two leaders. Business leaders may also continue their dialogue with the politicians. Some business leaders have also joined politcs. They may try to bring change in the attitude of their own party.
In Bangladesh, there is a culture of placing charter of demands. Political parties submit charter of demands to be implemented by the govt. Labour unions press for their demands to the concerned authorities. Student groups have many ideas to be realised from the educational institutions. The business leaders have also acted in a similar fashion. There is nothing wrong in articulating the requirements of different groups. But it is possible to think of a different approach to dealing with the matter.
The business leaders have worked hard to prepare their proposals for submission to the govt. They have arranged meetings in divisional headquarters to elicit the views of business people at the regional level. It is good that they are getting ready to make presentation to the political parties. But it would have been much better if they could also indicate what they could do for the country in return. They could make a simultaneous declaration of their contribution such as that they will pay taxes regularly, refrain from adulteration of consumer goods, avoid underinvoicing and overinvoicing of goods, stop smuggling, hoarding and syndication. They could also give an undertaking that they will implement corporate social responsibility. This approach is suggested because the business community has its responsibility. In fact, the businessmen are already acting in this direction. They can now present their contribution, side by side with their demands. This approach would make a qualitative change in their dialogue with the govt. This approach would create an atmosphere of win win situation. The leadership of the FBCCI would make history by adopting a give- and- take approach in resolving their problems.
(The writer is an economist and columnist)
Businessmen and their leaders at a convention on 15th of this month urged the major political parties to put economic agenda in their election manifestos on priority basis for accelerating the economic development of the country. This convention was intended for formulating macro-economic agenda. About 2000 business representatives gathered at the convention from across the country and also from abroad to suggest proposals. The consolidated recommendations will be submitted to the major political parties within this month. The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) organised the convention in Dhaka. The FBCCI outlined 51 recommendations for 21 sectors. The business leaders proposed that the next political govt should address the recommendations within 100 days of assuming power. Business people are also members of the society and they have the right to articulate their opinions about what is in their best interst.
The FBCC president mentioned in the convention that the country was losing 1.5 per cent of gross domestic product (GDP)due to hartal. Therefore, hartal is to be banned by enacting a law. Businesses also demanded that the use of children and under-18 youths as picketers in strike by political parties be banned under the same law. He also suggested the replacement of obsolete power plants and formulation of a comprehensive coal mine policy. The FBCCI president said there was a sense of uncertainty among the business people over the next elections and he hoped that there would be an elected govt. in the country through a credible election. He said, 'we want a transparent parliament and parliamentarians who will build a corruption-, hartal- and extortion-free society and develop the country's infrastructure'
Speakers in the convention rang the alarm bell that economic woes of the developed nations would have direct and indirect impact on the Bangladesh economy. It was pointed out that whichever political party came to power must tell the people about their economic priorities and carry forward the reforms taken up by the interim administration. The year 2009 would be most challenging for Bangladesh and the next govt. must be pro-active and business friendly. The fortune of apparel industry would hinge on how best Bangladesh could cope with the global financial crisis. Chittagong port, power and gas supply and infrastructure were the biggest hurdles to sustained growth. It was pointed out that successive govts overlooked the crucial needs of electricity and gas. No govt. has undertaken long-term plan for energy security.
As power shortage was hindering industrial growth and productivity, the business leaders said that Bangladesh should move forward to generate nuclear power and erect nuclear power plants to bridge the demand-supply gap. Power shortage robs the country of 1.5 per cent of GDP a year. The budget formulation should be based on economic reality and not on political agenda. Necessary steps should be taken to contain double-digit inflation. The next govt. was urged to provide social and political stability and an enabling environment for businesses to grow. It was suggested that the next govt. should set up a ministry of human resources for skill development and training to meet the needs of the global labour market. The issues of inflation, investment monetary policy and employment should get top priority of the next govt. The need for public-private partnership was stressed by the businessmen and entrepreneurs. The presentation by the business people was comprehensive and meaningful.
Daily newspapers have commented editorially about the recommendations of the convention arranged by the FBCCI. They have highlighted the key recommendations. According to these newspapers, business leaders have once again urged the political parties to refrain from calling country-wide hartal in the future. The on-going global economic meltdown further reinforces the need for constructive politics as opposed to hartals and cofrontational politics. Hartal is extremely detrimental to normal economic activity as industries, factories, sea-ports, railways, banks ,wholesale markets, educational institutions, offices and transports are forcibly shut down by the hartal supporters. In the past, such events turned violent damaging cars and buses and pelting stones to business houses. The cost of such a shutdown is colossal. According to these newspapers, the business leaders have spoken against hartal not only for themselves but also for the masses as a whole.
In view of cut-throat global competition, the politicians have to come out of hartal mindset and evolve other means to press forward their demands. Newspapers have generally supported the viewpoint of businessmen about hartal. Parliament is the right place to settle all issues. The upcoming political govts. should be tolerant and give space to the opposition in parliament so that they can voice their demands on national issues without any difficulty. Govt. must not block opposition meetings and rallies and stifles other forms of democratic expression. The opposition should not be pushed into an agitational mode. Politicians in our country should bring a breath of fresh air into their culture based on the experience of last two years.
It has been pointed out that the current reform process must continue after the election. Political considerations must not dominate the selection of projects in the Annual Development Programme (ADP). Revenue expenditure should be guided by economic considerations. Political stability is to be maintained after election. Economic diplomacy has to get priority. There must be exchange of views between the political parties, even if no meeting is possible between the two leaders. Business leaders may also continue their dialogue with the politicians. Some business leaders have also joined politcs. They may try to bring change in the attitude of their own party.
In Bangladesh, there is a culture of placing charter of demands. Political parties submit charter of demands to be implemented by the govt. Labour unions press for their demands to the concerned authorities. Student groups have many ideas to be realised from the educational institutions. The business leaders have also acted in a similar fashion. There is nothing wrong in articulating the requirements of different groups. But it is possible to think of a different approach to dealing with the matter.
The business leaders have worked hard to prepare their proposals for submission to the govt. They have arranged meetings in divisional headquarters to elicit the views of business people at the regional level. It is good that they are getting ready to make presentation to the political parties. But it would have been much better if they could also indicate what they could do for the country in return. They could make a simultaneous declaration of their contribution such as that they will pay taxes regularly, refrain from adulteration of consumer goods, avoid underinvoicing and overinvoicing of goods, stop smuggling, hoarding and syndication. They could also give an undertaking that they will implement corporate social responsibility. This approach is suggested because the business community has its responsibility. In fact, the businessmen are already acting in this direction. They can now present their contribution, side by side with their demands. This approach would make a qualitative change in their dialogue with the govt. This approach would create an atmosphere of win win situation. The leadership of the FBCCI would make history by adopting a give- and- take approach in resolving their problems.
(The writer is an economist and columnist)