In Memoriam
A great son of the soil
Mohammed Farashuddin
In paying a warm hearted tribute to a great patriot and in writing about a successful finance minister, the first thing that comes to mind about Late Shah Abu Mohammed Shamsul Kibria (Shah AMS Kibria) is his exceptional willingness to dispassionately look at any issue in a theoretical perspective. It can also be stated without any fear of contradiction that as a Minister of Finance, Kibria kept the welfare of the people, particularly of the disadvantaged, at the softest corner of his heart. That's why the government he served followed a scrupulously crafted policy incorporating the equity considerations in its growth strategy.Shah AMS Kibria was in favour of economic reforms but his approach was one of patient and incremental implementation primarily with a view to minimising the 'costs' of reforms to the relatively unprivileged. It was not so much on the contents and direction but at the 'slow' pace of implementation of the economic reforms that some quarters were unhappy about Kibria. That Shah AMS Kibria was an excellent manager of the economy should be acceptable to almost all of those who count. He would, however, not rush on a decision that would have widespread impact. He would rather spend time, energy and efforts in carefully evaluating the pros and cons of a major decision as a finance minister than risk its resultant adverse affects on the economy. For instance, he would not mind an increase in the price of petrol used by the rich but would resist 'pressure' to raise the price of diesel and kerosene fuelling the economic activities of the poor. No doubt, Shah AMS Kibria had to walk a tightrope as a finance minister, in matching the unlimited ends of the nation and scarce resources it owned. Equally important was the delicate balancing between political considerations on the one hand and evaluation of merit on the other. He was one of those who believed 'efficiency' itself was a kind of 'loyalty' which a purely 'political eye' may not be able to discern. In most of the major appointments during his tenure as Finance Minister, Kibria would put higher weight on the qualifications of the candidate rather than his or her political inclinations. In the debate involving a trade off between unemployment and inflation, Kibria would always vigorously support the cause of price stability. This attitude combined well with his astute macro-economic management in achieving impressive economic growth with remarkably low level of inflation. Agriculture sector's unprecedented success benefited particularly from highly subsidised inputs with budgetary support delivered at the right time and in the right place. Shah AMS Kibria's role in the Financial Sector Reforms, banking reforms in particular, and his unwavering support to the central bank in most matters was a treat to experience. His administrative acumen was very handy in dealing with the worst flood disaster in 1998; he led an excellent and effective system of the relief operations with the consequent bouncing back of an inflation free growth with equity. A valiant freedom fighter and a thoroughly dignified patriot, Shah AMS Kibria deserves the best of our homages.
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