Covid-19 crisis warrants a comprehensive, strategic rescue plan
While the PM's Tk 5,000 crore stimulus package for export-oriented industries and government efforts to address the wage and food insecurity of people have been reassuring, especially with the entire country under partial lockdown, we are realising all too well that the present crisis and the measures taken to combat it will have far-reaching effects on practically every sector of the country. In fact, given our economic reality, there will not be a single sector that will not require government assistance. It is, therefore, crucial for the government to devise a well-thought-out, comprehensive and strategic rescue plan that must be multi-sectoral in approach. This means the emergency plan must prioritise certain sectors such as health, business, employment (formal and informal), SMEs (small and medium enterprises) and all marginalised groups.
As resources are limited, it is imperative that this bailout plan is implemented in the most effective and efficient way so that there is no waste of resources or irregularities in distribution or allocation. No doubt this is a mammoth task and a huge challenge for a government in such an overwhelming crisis. This is why the government must mobilise all the resources at hand and all the players who can contribute to implementing this rescue plan. Already we are seeing how businesses, NGOs, individuals and volunteer groups are trying to contribute in their own way. But in order for all these efforts and programmes to reach every sector and be sustainable, these must be done in a coordinated manner. The government must join hands with all these groups; in some cases, the government will lead and in others it will be the private sector or the NGOs depending on the sector being "rescued".
The need of the hour is thus to formulate this all-encompassing, strategic plan and implement it with efficiency and determination. In this regard, we urge the PM to take a lead on this.
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