M Saifur Rahman, veteran BNP leader who was Bangladesh’s longest-serving finance minister, died at Brahmanbaria General Hospital following a road accident yesterday.
The most experienced former finance minister M Saifur Rahman died on the spot after a Pajero Jeep carrying him fell into a roadside ditch at Khairala in Ashuganj at 2:30pm as its driver lost control over the steering while trying to save a cow. He was 77.
His sudden death drew condolences from all quarters. President Zillur Rahman and BNP chairperson Khaleda Zia were among the first to express their deep shock.
The Rapid Action Battalion (RAB) personnel who pulled up Saifur said the Pajero jeep carrying him plunged seven feet deep into the ditchwater.
“He was tightened with the seatbelt,” said the RAB team, which recovered his body from the sunken vehicle within 12 minutes of the accident.
Behind the pajero jeep was another car carrying his household assistant (maidservant) to Dhaka from Saifur’s Moulvibazar home.
Driver Siraj and Saifur’s personal assistant Shamsul Haq managed to break the windowpane of the sunken vehicle and come out
Rahman, founding member of the BNP and close aide of the former president Lt. Gen. Ziaur Rahman was taken to Brahmanbaria hospital after the accident where the attending doctor declared him dead.
Four people — Saifur’s Personal Secretary Shamsul Haque, two aides Sajib and Md Sharif and the driver Siraj — were also injured in the accident. They were admitted to Brahmanbaria Sadar Hospital.
Rahman’s body, released from the Brahmanbaria hospital morgue, and escorted by Brahmanbaria police, was brought to his Gulshan residence in the city by road. It reached Jalalabad house in Gulshan-2, at 7:45pm.
As the news spread, several thousands people, including local leaders of different political parties, thronged the hospital hearing the death news of Saifur Rahman.
The Deputy Commissioner, the Police Super, former state minister Harun Al Rashid, and local BNP and Jubo Dal leaders also rushed to the hospital.
A chartered accountant by profession, he was a member of the Standing Committee of Bangladesh Nationalist Party. He also has the unique record of preparing 12 out of the 36 yearly budgets since the independence of Bangladesh in 1971.
He left behind three sons and a daughter. One of his sons, Naser Rahman, was also a Member of Parliament.
Life-sketch
Veteran politician and former thrice finance minister M Saifur Rahman was born in Bahar Mordon village of Moulvibazar district in 1932.
Rahman who is largely regarded for his role as an overseer of the country’s economic shift towards the free-market economy since 1970s, was a chartered accountant by profession.
He had his graduation from the University of Dhaka in 1953 batch, and later studied in London from 1953-58 to become a fellow of the Institute of Chartered Accountant (England and Wales).
Rahman has specialisation in monetary, fiscal and development economies, an academic background that is believed to have helped him handle and oversee the major shift in national economic policy from the bias for socialistic economic system of 1970s in line with the global trend and realities.
He also defined effects of privatisation, liberalisation and other reform policy on Bangladesh
democratic process and on its socio-economic development.
He is regarded as the principal architect of the country’s economic, fiscal, trade, investment and institutional reforms and liberalisation policies from 1991 to 96 for the introduction of Value Added Tax (VAT) system.
Saifur Rahman, in his long professional career from 1962 to 96, founded Rahman and Rahman, a leading audit firm of the country with international repute.
He had a long 35 years multifarious professional involvement in his capacity as adviser and consultant in the national and trans-national manufacturing, chemical, oil and gas exploration and marketing companies, transport systems, banking, insurance and finance.
Rahman joined the government as a cabinet minister during 1976-82 and during 1991-96 he served in capacities as minister for finance, planning and commerce.
During his tenure as member of Jatiya Sangsad during 1979-82 and 1996-99 he was member of Public Accounts Committee, Business Advisory Committee of the parliament and parliamentary committee of the ministry of finance.
In 1993-94 he was elected chairman of Board of Governors of the International Monetary Fund (IMF) and the World Bank and chaired the 50th anniversary conference of both the institutions in Madrid in October 1994.
He was the Bangladesh’s governor of the World Bank, the Asian Development bank (ADB), the Islamic Development Bank (IDB) and the IFAD in 1980-82 and 1991-96.