The New Nation - Internet Edition

BSS, Dhaka

Discussants at a roundtable on the 'state of the economy' yesterday said the bird flu may be a new problem.

They praised the government efforts for setting up the better business forum and the regulatory reform commission, and expressed concern over the slow business and investment. The efforts are good, but not enough, they said.

The discussants said, although the government has an election roadmap, but going beyond it the announcement of an election date at this stage will work as a big boast to public confidence in bringing pace to domestic and foreign investment.

The discussants at the roundtable organised by Bangladesh Enterprise Institute (BEI) at its office at Gulshan in the city included CPD executive director Prof Dr Mustafizur Rahman, banker Manun Rashid, former president of FBCCI Yusuf Abdullah Harun and President of Bangladesh-Malaysia Chamber of Commerce and Industry Salahuddin Qasem Khan.

BEI president Faruq Sobhan was in the chair while Prof Dr Atiur Rahman presented the keynote.

Dr Atiur Rahman said 'food inflation' which is around 22 percent for some low income groups.

But he anticipated that this year the country may witness a 'super-bumper' boro harvest if agricultural inputs such as fertiliser, fuel and pesticides can be supplied timely to farmers. He said a successful boro harvest will only be able to stabilise the market and reduce prices.

Dr Atiur Rahman said since the country is importing a huge amount of rice and other foodgrains from India, the depreciation of taka against rupee is becoming a problem.

He said the GDP growth this year may vary from 6.2 percent on the top to 5.7 percent downside while the discussants were critical on the slow pace of the implementation of the annual development programmes. The performance should be improved, they observed.

Referring to high cost of food items and the inflation, the discussants opined that the real value of wages of the garment workers has rather depreciated over the recent time and suggested the garment factories and other establishment may open shops of their own to provide low cost food for workers.

They emphasised the need for a new breakthrough in agricultural productivity saying the food import is going to be most costly item in near future and only a boast to domestic productivity may help reduce the supply crisis and bring its prices at the affordable level.