A fresh start for Bangladesh
After a year filled with trepidations and uncertainties, 2018 ushers in a fresh start for Bangladesh. The process of shifting from a less developed country to a developing one is underway, import of liquefied natural gas poses as a solution to the energy crisis, fourth generation telecommunication services are starting, an investor-friendly environment is in the offing and the Bangabandhu-1 satellite is to be launched. It is also hoped that palpable progress will be made on the Padma Bridge and the Dhaka metro-rail projects. These development projects will enhance the living standards of the people and consolidate the economy.
Another bright spot is the announcement of a new wage board for the readymade garment workers. After all, this is the sector which has expanded our export bases exponentially. After a good performance in implementing the Millennium Development Goals (MDG), Bangladesh now has to ensure optimum development and utilisation of its human resources in order to achieve Sustainable Development Goals (SDG). The present pace of development could have been accelerated further had we been able to ensure skills and integrity in management.
Over the past few years Bangladesh growth rate has been around six or seven. Experts say that if corruption in the government sector could be reduced, it would not be difficult to achieve double digit growth. The banking sector had tumultuous times last year, but even so, a degree of hope has been generated by the profits that the banks managed to show at the last moment.
How far we can accelerate and take this economic development ahead, depends much on political stability. Other than the seven city corporation polls, the national election is also due to be held this year, or perhaps in January of the next year. Elections vibes are already in the air. Free, fair and credible elections are required not just for political stability, but also to maintain economic growth and development.
Rather than wasting time in debate over the one-sided and questionable election of 2014, the political leaders must now focus on how to ensure a fair and participatory election ahead. It is hoped that past negativities are put aside and 2018 sees a healthy trend in election politics restored.