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Dhaka Tribune

Economic data called into question

Update : 15 Nov 2014, 06:12 PM

Noted economist Prof Nurul Islam yesterday said the reliability of different economic data has been called into question.

“The data of default loans, remittance, export, import and apparel sector workers are used in different research papers which have no reliability,” he said.

Former deputy chairman of the Planning Commission Prof Islam was delivering his speech as a keynote speaker at a seminar titled “Reflections on the first BEF conference: challenges facing economic research in Bangladesh”.

Bangladesh Bank and Bangladesh Economic Forum (BEF) jointly organised the seminar at Bangladesh Bank Training Academy in the capital.

The keynote speaker also criticised the country’s primary education system and the quality of teachers engaged in imparting teaching at primary level.

Bangladesh Bank Governor Dr Atiur Rahman said the rapid growth and advent of new technologies bring heightened risks of fraud and scams.

Atiur described the slippages, scams and fraudulent incidences as scare stories run by the news media.

The governor claimed that due corrective and preventive attention of BB and other relevant authorities have prevented these sporadic incidents from blowing up into systemic stress or crisis.

Planning Minister AHM Mustafa Kamal attended the programme at the chief guest.

He said the government is trying to strengthen and empower local institutions by improving education system which lacks standard and does not go in line with expectations.

The basics of education system need to be improved, he added.

Despite all potentials the country fails to advance due to lack of adequate logistical support, observed the minister.

“Our investment to GDP is very low because of lower foreign investment flow. Maximum investment comes from public and private sector of the country,” he said.

Mustafa said the government delays implementing big projects due to lack of skilled manpower.

“We have to hire foreign consultants to implement big projects as our local institutions do not have adequate capacity.” 

The government has planned to implement four projects under the Public Private Partnership initiative, he said.

Dhaka Elevated Expressway, Padma Bridge at Paturia point and a tunnel under the Karnaphuli River in Chittagong are also among the four. 

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