• Monday, Sep 21, 2020
  • Last Update : 09:28 pm

Reforms are not the enemy

  • Published at 12:04 am November 12th, 2019

All of these fronts are in desperate need of policy reform, unless we want our economic progress to come to a sudden halt

One of the key reasons behind Bangladesh’s rapid economic progress over the last decade or so is the careful formulation and implementation of certain economic policies.

It is because of these policy changes that our country now stands as one of the most promising economies in the world -- with the potential to become the 28th largest economy in the world by the coming decade, at least according to PWC.

Given our standout economic progress, and our target of becoming a middle income nation within the near future, it is imperative that we make changes to our economic policies to keep up with shifting landscapes.

To that end, it is unfortunate that there are those within the government ranks who believe that reforms to economic policies stand to derail our current economic trajectory.

This is an entirely tone deaf attitude. It is because of careful changes and reforms to existing policies, in addition to the formulation of new ones, that Bangladesh has achieved its remarkable economic progress over the last few years.

With institutions such as our state-owned banks practically bleeding us dry due to the government’s incessant practice of propping up these loss-making entities, it behooves the administration to take a more careful look at the existing policies which lead to this.

Noted economists all over the nation have pointed out the numerous flaws and policy loopholes that exist within our export sector, import substitute local industries, tax policy, balance of payments, financial sector management, investment, education, migration, and skills development.

All of these fronts are in desperate need of policy reform, unless we want our economic progress to come to a sudden halt.

It is because of policy reforms, not due to their exclusion, that our economy has grown. The sooner the government realizes that, the better.

blogger sharing button blogger
buffer sharing button buffer
diaspora sharing button diaspora
digg sharing button digg
douban sharing button douban
email sharing button email
evernote sharing button evernote
flipboard sharing button flipboard
pocket sharing button getpocket
github sharing button github
gmail sharing button gmail
googlebookmarks sharing button googlebookmarks
hackernews sharing button hackernews
instapaper sharing button instapaper
line sharing button line
linkedin sharing button linkedin
livejournal sharing button livejournal
mailru sharing button mailru
medium sharing button medium
meneame sharing button meneame
messenger sharing button messenger
odnoklassniki sharing button odnoklassniki
pinterest sharing button pinterest
print sharing button print
qzone sharing button qzone
reddit sharing button reddit
refind sharing button refind
renren sharing button renren
skype sharing button skype
snapchat sharing button snapchat
surfingbird sharing button surfingbird
telegram sharing button telegram
tumblr sharing button tumblr
twitter sharing button twitter
vk sharing button vk
wechat sharing button wechat
weibo sharing button weibo
whatsapp sharing button whatsapp
wordpress sharing button wordpress
xing sharing button xing
yahoomail sharing button yahoomail