Tasks for entrepreneurs
Thursday, 15 May 2008
ARTIFICIAL rearing of enterprises is never good. Under a wall of protection, such enterprises never develop the urge, creativity or efficiency to become competitive in quality or prices. Protected industries tend to shelter redundancy, inefficiency and pass on the costs of their poor quality of their products to the consumers. In contrast, enterprises exposed to competition through trade liberalisation policies would become awarer of the need to survive and about the business environment. It would prompt them to steps to upgrade or adjust production processes, improve stocks control, pay greater attention to quality, to face external competition and thrive.
In a competitive environment the domestic industries would constantly improve its efficiency and quality to have a positive impact on the economy. Some naysayers may say that domestic industries were unable to take the challenge posed by trade liberalisation. But this can be no excuse to rear white elephants in the public sector or their molly-coddle equivalents in the private sector.
While undue protection is the last thing that should be extended, the government can, however, look after the legitimate interests of domestic enterprises to enhancing their competitiveness. Large-scale infrastructure development would be supportive of industries. Public sector investments in infrastucture would help reduce the costs of doing business.
Sajjad Khan
Aminabad Colony, Dhaka.
In a competitive environment the domestic industries would constantly improve its efficiency and quality to have a positive impact on the economy. Some naysayers may say that domestic industries were unable to take the challenge posed by trade liberalisation. But this can be no excuse to rear white elephants in the public sector or their molly-coddle equivalents in the private sector.
While undue protection is the last thing that should be extended, the government can, however, look after the legitimate interests of domestic enterprises to enhancing their competitiveness. Large-scale infrastructure development would be supportive of industries. Public sector investments in infrastucture would help reduce the costs of doing business.
Sajjad Khan
Aminabad Colony, Dhaka.