Rising inequality may create social instability in country

Speakers at a programme on Tuesday expressed concern over rising inequality in the country alongside its economic growth, which they apprehended may create social instability.
They also noted that some of the leaders and policymakers suffer from complacency, leading to their negligence in implementing various pro-people development projects.
They suggested upgrading moral standard and avoiding complacency for ensuring sustainable development.
"The speed of equity is not like that of the economic development here. It is impossible to establish a healthy nation, if economic justice and equity are not ensured," said Palli Karma Shahayak Foundation (PKSF) Managing Director Abdul Karim.
He also said economic inequality has been rising alarmingly in Bangladesh, especially in the urban areas. The GINI coefficient has risen to 0.483 in 2016, which was 0.467 in 2005 and 0.458 in 2010. It means the rich people here are gradually becoming richer.
He was speaking as the guest of honour at the concluding session of a conference titled 'Growth with Equity: Bangladesh Perspective'.
PKSF and Dhaka School of Economics (DScE) under Dhaka University jointly organized the daylong conference, where DScE students presented 18 research papers.
DU Vice-Chancellor Professor Akhtaruzzaman was the chief guest at the concluding session of the programme, chaired by PKSF Chairman Qazi Kholiquzzaman Ahmad.
PKSF Deputy Managing Director Jashim Uddin said one tea labourer earns Tk 2,500 as wage, if he works for 30 days, which means he earns Tk 85 per day.
"What is now available with this Tk 2,500 in Bangladesh? Countrywide a labourer's daily wage has increased to Tk 450-500," he added.
Professor Rezaul Karim, Poverty and Social Protection Policy Advisor of Food and Agriculture Organization (FAO) Bangladesh, said the major concern is that the annual rate of poverty decline has reduced to 1.2 per cent. In the 7th Five Year Plan the target is to maintain the status quo of GINI coefficient that is 0.458.
"We could not reduce inequality, which has been the same for many years. Even we could not maintain the status quo of GINI coefficient," he noted.
Professor Akhtaruzzaman said it is impossible to ensure growth with equity, if the pace of urban and rural development is not the same.
There is moral degradation in many areas, and moral standard must be improved to make the country's development sustainable, he opined.
Qazi Kholiquzzaman Ahmad said the share of national income has increased among top 10 per cent of the population, and decreased among the lowest 10 per cent. Social and moral degradation is responsible for the increase in wealth of the rich.
"The rate of tax that should be returned to the government is not increasing, as some rich people do not pay taxes as per the standard while some rich people avoid taxes. The government gets only 12 per cent tax which is 50-60 per cent in many countries."
He further said many political leaders and policymakers suffer from complacency regarding development that leads to negligence in implementation process of the development projects.
They talk about becoming a middle-income and developed nation by 2021 and 2041 respectively without understanding the issues concerned, he added.

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