NATION BUSINESS REPORT
‘The positive side is that the government has started with a lower inflation rate in the domestic front and downward trend in international oil and commodity prices.
‘The government should utilise this advantage in a prudent manner,’ said the International Chamber of Commerce-Bangladesh (ICCB) in an editorial of its quarterly news bulletin released on Sunday.
‘The new government begins its journey with a new vision of change amid huge expectations from the people for easing their economic and social woes,’ read the editorial, according to an ICCB news release. ‘The people of Bangladesh have voiced that they keenly look forward to put an end to corruption and misrule of the past,” it said.
The December 29 election has been a milestone achievement for Bangladesh. Probably, for the first time in the country and for that matter in the region such a credible, free and fair election has been held. Casting of vote by some 87 per cent of around 81 million voters, majority of whom are women and younger generation, reflect the commitment of a Nation for democratic governance. Judged by all yardsticks, the caretaker government, Election Commission, Armed Forces and the people deserve to be congratulated for making the election a grand success and a model for future, observed ICCB Bulletin The election results clearly show that the electorates were totally frustrated with the performance of the past governments; choosing for a charter of change. The voters have set five priority agenda for the new government to address: inflation, corruption, food autarky, law and order, and social security.
The new government, therefore, has to turn its words into actions – combating corruption, improving governance, and bolstering the economic activities. While expectations are high, realizations are obviously very challenging, especially in the wake of global recession. The positive side is that the government has started with a lower inflation rate in the domestic front and downward trend in international oil and commodity prices. The government should utilize this advantage in a prudent manner.
Democracy cannot flourish in the absence of mutual respect, accommodation and understanding between the rulers and the opposition. It has suffered for long in the absence of such co-operation. A repetition of the earlier practice will have damaging effect on the democratic system and thus retarding growth and stability. Therefore, the Parliament should be made effective, functional and centre of all national decision making process.
With more than three-fourth majority, it is highly desirable that the government makes all out efforts for strengthening of the democratic institutions as a priority and ensure the independence and proper functioning of the bodies that have been created over the years, such as the anti-corruption commission, regulatory reforms commission, energy regulatory commission, election commission, independent judiciary, better business forum and others.
The new cabinet of Prime Minister Sheikh Hasina, which is pleasantly small and composed of fresh faces, many of whom are first-timers not only in the government but also in the Parliament, shows her firmness of her mission and will to bring about changes.
With all these expectations, the Business Community’s demand is a business friendly enabling environment. This requires stoppage of all damaging political activities including hartals, street agitations and ensuring supporting infrastructure. There are no alternatives to uninterrupted supply of gas and electricity; dynamic port facilities; and smooth communication with revamped rail and waterways.
In fact, the great chance that the Nation now has to change the fate of millions with the help of homegrown development policy agenda and action plans. Bangladesh’s ultimate goal is to free her from the curse of poverty through balanced growth and development. There is high hope that the new government has the ability to deliver with necessary support from different stakeholders including business.
Courtesy: nation.ittefaq.com
