The country’s future economic policy and plan has been discussed elaborately at the three-day conference of Bangladesh Institute of Development Studies (BIDS). The government policymakers as well as critics of the government policies attended it.
Lively discussions on development, financial sector, inequality, poverty, geo-politics and freedom of speech were held at the conference attended by economists from home and abroad.
In a democratic system such discussions on policies and planning should be held at parliament. It is unfortunate that we could not take our parliament to that level. During the budget discussion every year, the MPs show keen interest in increasing allocation for development activities in their respective constituencies. But they are not seen talking about economic policies and plans.
In such a context, the BIDS conference is very important. In the current political realities, the tradition of debate over policy and strategy has disappeared. If the government policymakers attend any discussion and seminar, the leaders of the opposition parties don't attend or they are not thought to be expected there.
The conference also discussed who are the main forces of development. The government policymakers think the government is the main force of development. But in a free market economy, the private sector is the main force and the government assists with policy support. Although Bangladesh adopted socialism as the state policy once upon a time, nowadays all are the proponents of the free market economy.
At the inaugural ceremony, SR Osmani, professor of economics department at the Ulster University, UK, highlighted the interrelation among democracy, freedom of speech, justice, human rights, development and growth.
Justness and freedom of speech are important issues for a democracy. His statements reflected the desire of common people. Many try to show the contradiction between development and democracy. But they should remember that development cannot be sustainable without democracy and good governance.
There may be differences of opinions over the style of democracy but we have included the fundamental issue in the constitution that people are the owners of the state. We cannot go away from this. Planning minister Abdul Mannan has remarked that concerns about democracy, rights, voting rights and good governance are limited to the civil society of Dhaka and Chattogram. His remark is one-sided. Tubewells, bridges, houses and food are important to the village people too. Those cannot be ensured if good governance, equality and democracy do not exist in the country.
The experts highlight geopolitics in this conference. An economist said although Bangladesh was not involved in the geopolitical controversy in the past, it has been visible recently. In this case, Bangladesh has to follow the policy of balance. As we will not be able to defy the US, the leading superpower, likewise we cannot sideline China, the largest economy in Asia, too.
Alongside establishing good governance and equality in the internal economic policy, it is also important to follow policy of balance in geopolitics. Former adviser to the caretaker government Wahiduddin Mahmud said countries like Bangladesh can take something from both the models, but implementation would be difficult if democracy does not exist.
We also want to say in unison with the experts, who took part in the BIDS seminar, that we must reach our goal however critical the road ahead is.