Development may be stalled if the government fails to take such strategic programme with the participation of small entrepreneurs, marginal farmers and analysts, he told a consultation meeting in Dhaka.

Two development organisations -- Karmajibi Nari and The Innovators -- jointly organised the meeting on their report "Bangladesh Public Policy Watch 2004" which is expected to be released in July.

Prof Ahmed said industrialisation is not possible in Bangladesh without setting up of adequate heavy industries. "RMG (readymade garment) cannot help industrialisation as it is not a heavy industry," he observed.

About the vital role remittance is playing in economy, he said the country receives about Tk 18,000 crore in remittance a year and many small and medium entrepreneurs are doing their business using a big portion of this money.

Turning to the capital market, Prof Ahmed said lower middle class people hesitate to invest in the market due to lack of security. On the other hand, rich people prefer banks in foreign countries for their savings, he added.

Criticising the country's businesspeople for their demand of reducing tax, Prof Ahmed said many of them do not repay bank loans while most of the tax related cases are filed against the businessmen.

Speaking on the issue of education system, he said there is no linear education policy in Bangladesh. "Private universities are hampering the educational environment."

Making a multimedia presentation on Bangladesh Public Policy Watch 2004, Rashed Al Mahmud Titumir, a teacher of Development Studies at Dhaka University, said farmers, RMG workers and expatriates are deprived of their rights in spite of their important role in economic development.

The budgetary allocation in agriculture sector has now declined to only 2.5 percent, which was 22 percent in 1977-78, he mentioned. The government also cut farm subsidy at the prescription of donors.

Hasanul Haque Inu, president of Jatiya Samajtantrik Dal, Saiful Haque of Workers Party, and Shirin Akhter of Karmajibi Nari, also spoke at the meeting held at the National Press Club.