Bangabandhu sowed seeds of prosperity
Bangabandhu Sheikh Mujibur Rahman has not only pulled Bangladesh out of the wreckage caused by the war but took visionary steps to plant the seeds of economic prosperity for the country, said speakers yesterday.
"The philosophy of Bangabandhu was to improve the lot of the ordinary people and ensure their freedom," said Tofail Ahmed, a former commerce minister.
He spoke at a seminar on "Bangabandhu's Economic Philosophy: Bangladesh in Development of Commerce and Industries."
The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) organised the event to commemorate the contribution of the Father of the Nation.
Ahmed, who was the political secretary to Bangabandhu, said after the independence, Sheikh Mujibur Rahman tried to rebuild the nation with his economic vision.
Bangabandhu framed the Industrial Enterprise Act and nationalised the industries deserted by their Pakistani owners to rebuild the war-ravaged country.
He nationalised banks and established the jute ministry, the Bangladesh Agricultural Development Corporation, the Bangladesh Chemical Industries Corporation and the Sugar Corporation.
"Even Bangabandhu talked about building the bridge over the Jamuna river with the Japanese government during his visit to Japan," Ahmed said.
The community clinics in the rural areas were also established by Bangabandhu.
The current government guided by the philosophy of Bangabandhu is not only business-friendly but also worker-friendly, Ahmed said.
While presenting the keynote paper, Mohammed Farashuddin, a former governor of the Bangladesh Bank, said the size of the GDP in 1972 was $800 crore, and it now reached $34,500 crore.
The pre-pandemic economic growth rate was 8 per cent, higher than many peer countries, he said. Per capita income rose to $2,227, which was $85 in 1972.
More than six crore people were living below the poverty line in 1972. It halved to 3.1 crore in the last fiscal year despite the population growth and crises like the coronavirus pandemic, according to Farashuddin, who was also the personal secretary to Bangabandhu.
Foodgrain production also witnessed significant growth during this time. In 1972, 1.1 crore tonnes of foodgrain were produced. The quantity went past 4.5 crore tonnes in the last fiscal year.
"In framing the country's industrial base, Bangabandhu also left a space for the growth of the private sector although industries were nationalised," Farashuddin said.
Nihad Kabir, president of the Metropolitan Chamber of Commerce and Industry, said the country's tea industry was developed thanks to the vision of Bangabandhu.
"Many say that the current Awami League government is not business-friendly. But it is not true."
Shafiul Islam Mohiuddin, a former president of the FBCCI, said the formulation of the first five-year plan between 1973 and 1978 by Bangabandhu helped establish the industrial base.
The total exports were $377 million in 1972. The receipts surged to more than $40 billion in the pre-pandemic period, he said.
AK Azad, another former president of the apex trade body, called for the supply of quality power and human resources to further develop the industrial sector and businesses.
Salman F Rahman, adviser to the prime minister for private industries and investment, described how Bangabandhu helped his family-run business.
The company shipped some goods directly to European markets with the help of a Swiss firm, although there was a barter system in the international trading at that time, he recalled.
Bangabandhu suggested exporting 40 per cent non-traditional items to enjoy the non-barter export facility, he said.
Planning Minister MA Mannan said Bangladesh might not get rid of
bureaucratic tangles entirely, although the government relentlessly works on it.
"However, the introduction of digital system in every sphere of the government activities might bring a relief from red-tapism," he said.
Kazi Akram Uddin Ahmed, another former president of the FBCCI, and Md Jashim Uddin, the current president, also spoke.
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