Responding to suggestions from business
Friday, 14 September 2007
THE proper functioning of existing businesses and creation of new ones are also the bread and butter issues of people. This is because the thriving of businesses means not only businessmen earning profits and their well-being, the full functioning of the gamut of trade, industries and services create the optimum conditions for greater employment of the labour force, sustained income levels or their increases and hence, progressive improvements in the standard of living of people.
The flourishing of business is dependent on many factors. However, broadly speaking, the same is vitally linked to internalities or the internal conditions of the business organisations and, to externalities, meaning how far the external environment for businesses in the areas of governmental policies, law and order conditions, demand situation for products, etc. These influence business decisions and the level of business activities. While there is undoubtedly the need to give greater attention to improving their internal conditions by businesses, what can be of greater significance in improving the rate of investment in the economy is progress towards attaining better externalities. This point continues to be stressed again and again by business leaders of the country's apex chamber body, the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI).
The FBCCI leaders handed over a task list to the government long ago that included prominently the proposals for a improvement of law and order, legislation against hartal, complementary fiscal and monetary policies, faster pace of privatisation, modernisation of the two seaports to increase their efficiency, gas supply to the south-western region to open up that area for industrialisation and improvement of the performance of the country's civil services in areas where the services relate vitally to business activities.
The recommendations from the country's top business leaders are undoubtedly very relevant to the pressing need of speeding up economic development. The government should act with due promptness and seriousness in relation to these and other issues that have been underscored by the businessmen for the government's urgent actions.
Amin Ibrahim
Eskaton, Dhaka
The flourishing of business is dependent on many factors. However, broadly speaking, the same is vitally linked to internalities or the internal conditions of the business organisations and, to externalities, meaning how far the external environment for businesses in the areas of governmental policies, law and order conditions, demand situation for products, etc. These influence business decisions and the level of business activities. While there is undoubtedly the need to give greater attention to improving their internal conditions by businesses, what can be of greater significance in improving the rate of investment in the economy is progress towards attaining better externalities. This point continues to be stressed again and again by business leaders of the country's apex chamber body, the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI).
The FBCCI leaders handed over a task list to the government long ago that included prominently the proposals for a improvement of law and order, legislation against hartal, complementary fiscal and monetary policies, faster pace of privatisation, modernisation of the two seaports to increase their efficiency, gas supply to the south-western region to open up that area for industrialisation and improvement of the performance of the country's civil services in areas where the services relate vitally to business activities.
The recommendations from the country's top business leaders are undoubtedly very relevant to the pressing need of speeding up economic development. The government should act with due promptness and seriousness in relation to these and other issues that have been underscored by the businessmen for the government's urgent actions.
Amin Ibrahim
Eskaton, Dhaka