Unpacking the Economic Manifesto of the Awami League: Trends and Challenges for Tomorrow's Bangladesh
BIDS hosted a seminar titled "Unpacking the Economic Manifesto of the Awami League: Trends and Challenges for Tomorrow’s Bangladesh" on 24 March 2024 at the BIDS conference room. The seminar commenced at 10.30 am (BST) and concluded at 5.00 pm (BST).
Throughout the discussion,
distinguished scholars from BIDS delved into pivotal subjects including
Macroeconomic Stability, Fiscal Efforts, Agriculture, Industry, Education, and
Health. These topics were addressed across two distinct sessions: during the
first session, scholars addressed Macroeconomic Stability, Fiscal Efforts, and
Agriculture, while in the second session, they focused on Industry, Education,
and Health matters.
During session one, we had the privilege of welcoming Major General Abdus Salam, rcds, psc, (retd), MP, the Honorable Minister of the Ministry of Planning, Government of the People’s Republic of Bangladesh, as the chief guest. Additionally, Dr Mashiur Rahman, the Economic Affairs Adviser to the Honorable Prime Minister, Government of the People’s Republic of Bangladesh, graced the event as a special guest.
During session two, we were
honored to have Mr Abul Hassan Mahmood Ali, MP, the Honorable Minister of the
Ministry of Finance, Government of the People’s Republic of Bangladesh, as the
chief guest. Additionally, Dr Tawfiq-e-Elahi Chowdhury, BB, the Power, Energy
& MR Affairs Adviser to the Honorable Prime Minister, Government of the
People’s Republic of Bangladesh, and Dr Kamal Abdul Naser Chowdhury, the
Education and Cultural Affairs Adviser to the Honorable Prime Minister,
Government of the People’s Republic of Bangladesh, graced the event as special
guests.
The seminar started with an
introductory presentation on “Economic and Social Trends: Challenges for Smart
Bangladesh” by Dr. Binayak Sen, the Director-General of BIDS, who emphasized
the necessity of achieving a tax-GDP ratio of 15-17% to align with
middle-income status. He underscored the importance of addressing the internal
revenue collection challenge, suggesting that Bangladesh should focus on
attracting increased foreign direct investment (FDI) and adopt innovative
approaches to understanding the geo-economics of FDI flows.
Following the overview, in the
first session, Dr Monzur Hossain, Research Director at BIDS, addressed topics
including Macroeconomic Stability, Inflation, and the Exchange Rate. Dr Syed
Mainul Ahsan, Professor Emeritus at Concordia University, Montreal, and
Visiting Professorial Fellow at BIDS, examined the Middle-income Tax Structure
for Bangladesh, focusing on pertinent issues and challenges. Additionally, Dr
M. A. Sattar Mandal, Professorial Fellow at BIDS, delved into Agrarian Change
in Bangladesh, while Dr Mohammad Yunus, Research Director at BIDS, discussed
Agricultural Growth and Rural Development.
As a discussant, Mr. Shekhar
Dutta, a Member of the Drafting Committee of the Bangladesh Awami League
Manifesto, Writer, and Researcher, offered his insights. He emphasized the need
for alignment between politics and economics, stating that they should complement
each other. Mr. Dutta further highlighted that economic crises can lead to
political crises, posing significant long-term risks for the country.
At the
end of session one, our Chief Guest,
Major General Abdus Salam, rcds, PSC,
(retd), MP, the Honorable Minister of the Ministry of Planning, Government of
the People’s Republic of Bangladesh, shared his valuable thoughts on the
country's progress. Our Special Guest, Dr Mashiur Rahman, the Prime Minister's
Economic Affairs Adviser, underscored the importance of ensuring that election
manifestos accurately reflect the needs of the masses. Additionally, former
State Minister for Planning, Dr Shamsul Alam, advocated for retaining corporate
tax rates within the range of 20-30% during the event.
During the second session, Dr.
Kazi Iqbal, Research Director, BIDS, explored the theme of "Aspiration and
Reality: Election Manifesto 2024 and the Industrial Sector." Dr. S.M.
Zulfiqar Ali, Research Director, BIDS, focused on the "Quality of
Education". Dr. Badrun Nessa Ahmed, a Research Fellow at BIDS, delved into
the topic of "Educated Unemployment." Lastly, Dr. Md. Abdur Razzaque
Sarker, Research Fellow at BIDS, examined the "Prospects and Challenges of
Universal Health Coverage".
At the culmination of the speeches in the second session,
Mr. Sabbir Ahmed FCA, a distinguished discussant and Member of the Drafting
Committee of the Bangladesh Awami League Manifesto, delivered his remarks.
At the end of session two, our
Chief Guest, Mr Abul Hassan Mahmood Ali, MP, the Honorable Minister of Finance,
Government of the People's Republic of Bangladesh, said that Bangladesh would
not experience economic turmoil like Sri Lanka. He highlighted the influx of
new investments into the country and assured attendees that Bangladesh would
overcome its current obstacles. Following Mr Ali's remarks, our Special Guests,
Dr Tawfiq-e-Elahi Chowdhury, Energy and MR Affairs Adviser to the Honorable
Prime Minister of Bangladesh, and Dr Kamal Abdul Naser Chowdhury, Education and
Cultural Affairs Adviser to the Prime Minister, shared their perspectives. Dr
Tawfiq-e-Elahi highlighted that Bangladesh had incurred losses of $14 billion
over the past three years due to global oil price spikes, attributing these
losses to various oil companies and exporters. He questioned the stability of
an economy when a country's wealth is depleted in such a manner, emphasizing
that the soaring fuel prices had significantly depleted foreign currency
reserves.
During the event, Dr. Manzoor
Ahmed, an emeritus professor at BRAC University, and Dr. MM Akash, a former
professor at the University of Dhaka, shared their insights. Additionally,
international scholars participated in the event via the Zoom online platform.
Finally, Binayak Sen, Director
General of the BIDS, concluded the event.