A column writer in a national daily observed recently that economic growth could be stifled under the present conditions of Bangladesh from excessive governmental regulations.
Growth is, no doubt, supremely required. But no less significant, as has been proved in the prevailing conditions in Bangladesh, are regulations to ensure quality of goods or services, people's health and well-being, elimination of corruption, etc.
The present government is seen moving harder to achieve these goals, too, and the same call for more regulations and stronger regulations. If that leads to a squeezing of growth of the wrong type, then be it. We must not have fake medicines or sub-standard products in the market on the plea of growth. After all, these people can also claim that they make investments and contribute to the economy. But who wants such contributions at the cost of the well-being of the people?
But there is merit also in the view that regulations must not be excessive. Or in the name of regulations, genuine businesses are not driven away or forced to withdraw from their occupations. That would create a worse pitfall for the economy from under-production, non availability of consumption items and consequently shooting up prices of the same.
So, let there be regulations but the same should be appropriate and not considered as stifling by the genuine and well intentioned business operators.
Nasim Ahmed
Khilgaon Chowdurypara,
Dhaka
Regulation versus growth
FE Team | Published: August 22, 2007 00:00:00 | Updated: February 01, 2018 00:00:00
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