Improving business conditions

FE Team | Published: November 11, 2009 00:00:00 | Updated: February 01, 2018 00:00:00

THE proper functioning of existing businesses and creation of new ones are the bread and butter issues of people. The thriving of businesses does not merely mean that businessmen are earning profits and their well-being thereof is promoted. The full functioning of the gamut of trade, industries and services also creates the optimum conditions for greater employment of the country's labour force and sustained income levels or their increases. In the process, this ensures progressive improvements in the standard of living.
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., 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.
In this context, the recent observation by an important cabinet minister, showing his disinterest in continuing with the Regulatory Reform Commission (RRC) does not provide any positive signal. Also his rather uncertain remarks about the Better Business Forum (BBF) are disconcerting. These must have drawn the attention of well-intentioned members of the country's entrepreneurial class. These two organisations were floated under the immediate past caretaker government for lending a stimulus to business activities and generating confidence among the businesses in a sustained way. Both of these two bodies were then welcomed by members of the business community in general. They have been looking forward to benefiting from the continuing strong performance of these two bodies under the present elected government. But the remarks by the concerned functionary of the government must have come as a disappointment for them.
Mustafa Anwar
DOHS, Dhaka.