Experts yesterday emphasised equitable distribution of resources to improve the lives of poor people in Bangladesh as it would help the country achieve its social goals.

Following 50 years of independence, Bangladesh has achieved the expected results in agriculture, industry, education, technology and population control but the country is lagging behind in the equitable distribution of resources, they said.

The event, styled "50 Years of Bangladesh: Achievements, Challenges and Lessons", was organised by the South Asian Network on Economic Modeling (Sanem).

"Only a few people have benefitted from the country's development works as the initiatives are not sustainable and are taken without prioritising the common people," said Qazi Kholiquzzaman Ahmad, chairman of the Palli Karma-Sahayak Foundation.

For this reason, the poverty rate is increasing every year while most of the country's wealth stays in the hands of certain people.

As such, 5 per cent of the richest people in Bangladesh currently own about 28 per cent of the country's total wealth even though they collectively held around 10 per cent just 10 years ago.

"This is not in line with the main goals of independence," Ahmad added.

Speakers were questioned by a group of students at the event, which was moderated by Selim Raihan and Sayema Haque Bidisha, the executive director and research director of Sanem respectively.

Professor MM Akash, chairman of the department of economics at the University of Dhaka, said even after 50 years of independence, the government has not been able to collect fair taxes from rich people, which is a major obstacle for the equitable distribution of wealth.

"Dishonest businessmen, bureaucrats and politicians are the main barrier to implement good governance as 99 per cent of the people are being held hostage by the top 1 per cent," he added.

Professor Mustafizur Rahman, a distinguished fellow of the Centre for Policy Dialogue, said the government is creating new poor by emphasising on indirect taxes instead of direct taxes.

"Instead, the National Board of Revenue should focus on increasing income tax collection at the individual level through proper monitoring," Rahman added.

Sohela Nazneen, research fellow of the Institute of Development Studies in the UK, was among the panelists.