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Now time is to recover the thrashing of economy

| by Swadesh Roy

( February 1, 2014, Dhaka, Sri Lanka Guardian) No nation can think such economic suicide what Bangladesh has done last three months. Fundamentalist terrorist did it, but it was not possible by them if they did not get the help of politics. In this write up, I will not go details why the fundamentalist terrorist got help of the politics; only truth, they got it in the name of elections. However, Bangladesh has passed an election, with all the criticism; it is a very costly elections. It is tough for any nation to bear this type of elections. Anyway, nation has overcome it. Now country has to think many things, like loss of human life, government property, tree and vegetables, private transport and overall the working hours. In the name of political program, the nation has lost a huge working hour.

In the mean time, finance minister has told that, country will recover the economy with in very short. Despite hope of the finance minister, it is true what crack has been created in the economy it is tough to recover within very short. Because, each sands of the shore has been hurt. As a poor farmer of the village who cultivated vegetables on his small piece of land and invest there one thousand taka by taking loan. He thought that he would get three thousand taka by selling vegetables. To repay the loan he would have earned one thousand five hundred taka. But, in the name of so called blocked his vegetables were rotten. In addition, he had to destroy it. Now he has to repay the loan one thousand with interest by selling some of his wealth. Therefore, he could not participate in economy immediately without the help of others. The transportation sector has lost 30,000 crore taka. The sector has been burnt from its top to bottom. But, its bottom line is same pathetic as the poor farmer, sometimes it is more. The nation has seen the utter moaning sounds of the young widow of a lorry driver. Her husband was the only earning source of her family. So this family has no way to income generate and participate in the economy rather a family which was over the poverty line it has dropped all in a sudden under the poverty line. Many families have been dropped under the poverty line by the terrorism. Garment is our main industry they have to pay more than 5000- core taka more for cargo shipment. However, it is a partial and very little illustration of the disaster of the economy. Country will get a full picture after the research of the economists. But it will take time. Moreover, government and the nation have no time to wait start the recovery of the loss of economy.

In the meantime finance ministry has said that revenue will not be collected this fiscal year as per their target rather it will be collected less from the last year. So government has to cut their budget. It is a big backlash for an economy, which index continues high. Nation has seen that the index of the national economy is always upward in last four years. So cutting budget is obviously a downwards of the national economy that has happened for terrorism. Finance minister has said that, it will be recovered very soon because now the economy of the country has a strong footage so the terrorist activity could not hurt the main infrastructures of the economy, so it is a pain for time being. Finance minister is right for his macro economy but who will take care of the micro economy. Since nobody knows, how many poor farmer lost his poultry by so called blocked. There was small news at the time of so call blocked, a poor farmer had only ten chicken but all were died for absence of feeding because poultry food supply was cut out by the blocked.

Therefore, for the recovery of the micro economy, now so many things are more important, first it needs a good survey by the each ministry or a professional survey organization where and how many hurt have been created by the terrorism. According to the survey report, government has to take a rehabilitation program. Simultaneously government has to run all the economic activities of all sector. For this reason, at first government has to recover the law and order situation. Government has to control law and order situation and will have to make a stable condition. If one of the main opposition of Bangladesh, Bangladesh nationalist party (BNP) wants the recovery of economy, they have to pull out themselves from all kinds of terrorist and destructive programs, which is harmful for economy. If they want to stay in electoral politics, they have to do it. In Bangladesh, it has been proved that people of the country do not like that type of politics that is unhealthy for economy because people already have got the taste of a healthy economy. So for gaining popularity or the support of the people they have to look for soft and modern political programs that will not hurt the economy. It is also necessary for recovering economy.

On the other hand, government has to be tougher against terrorism that will help to reduce or make a zero condition of terrorism simultaneously it will help to attract the foreign investment. In this position for recovering economy, government needs foreign investment because this year government cannot collect the revenue as per their target. In spite of that, government has to do the rehabilitation program for recuperating the hurt of micro economy, those people who have fallen the under poverty line by the terrorism they have to put fuel to get out that position. It is a basic work to gather them in the economic activities. As an example, the people of Malo Para of Jessore district have lost their capacity to participate in the economy and the manpower building.

Government has taken a huge rehabilitation program. They will come back soon in the economic generation. Government has to do it more than thousands places that were hurt by the terrorist. It will take huge money but has to do it. So, government needs money and they have to collect it either internal source or from the development partners. For running the micro economy, there is no other option except doing this. On the other hand, people and government have to think simultaneously that they have lost huge working hours last seven months, so they have to do extra work now to recover the economy.

Swadesh Roy, Executive editor, the daily Janakantha, Dhaka, Bangladesh.

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