If there is no political turmoil, if corruption is not suppressed but at least if it is under control, then the light in front of the country is clear with white eyes. In the midst of this global epidemic called Corona, levels are being added to various indices. This plague has also accelerated the pace of development expenditure over the last financial year. Assistance from donor countries and organizations has come in more than desired. Noise elsewhere. Political misconduct and administrative-social-environmental evils are dragging on.
The International Monetary Fund (IMF) has hinted that national growth in Bangladesh could reach 7.8 percent in the current fiscal year, despite the Corona crisis. The Asian Development Bank (ADB), a Manila-based development agency, has given the good news that it will be more than 6.8 percent. Their analysis is: the country’s economy has recovered from the impact of the epidemic. That is why both the imports and exports of Bangladesh have increased more than before. It also has the opposite effect. The trade deficit is widening due to the surge in imports.
Bangladesh has not only increased foreign employment, but also set a new record by dispelling the notion or fear. The Bureau of Manpower, Employment and Training (BMET) has given clearance to one lakh 2 thousand 83 expatriate workers in the recently concluded November. According to BMET, more than one lakh workers went abroad in March 2016. A total of 10 lakh 8 thousand 525 people went that year, which was a record for the country. The following year, in 2017, seven lakh 34 thousand and in 2019, seven lakh workers went abroad. But due to the epidemic, foreign employment stopped in 2020. That year only 2 lakh 17 thousand workers went abroad. Meanwhile, the Malaysian labor market has reopened. Attempts are also being made to send workers to several countries, including Libya. If it sees success, it will create a stir in foreign employment in the coming days.
Hundreds of products are produced in the country but imports are more than that. Good news for the economy if import costs increase due to investment. Increasing imports means increasing investment. And increasing investment means creating employment opportunities. On the contrary, the concern is whether the expenditure shown in the name of import is going abroad for smuggling. In addition, demand for the dollar is rising due to rising import costs. This has already strained the foreign exchange reserves. In this parallel journey of darkness with light, fear also peeks into the possibilities. The ready-made garment sector is turning around by pulling Shina after corona’s push. Purchase orders have increased more than before. Exports have increased by কোটি 1 billion this year, especially compared to the same period last year. As a percentage which is 41.6.
Bangladesh has been able to maintain a national growth rate of more than 6 percent on average during the global economic downturn due to the recession. Contrary to the slowdown in the world economy, the growth in the import-export sector has increased and the amount of remittances has increased. Positive trends in the garment industry as well as in the housing, shipping, pharmaceutical and processed food industries in Bangladesh, yet the IT industry has gained an unprecedented reputation abroad. However, these reputation is being ruined by various symptoms. The light is rushing towards the darkness. Where the work of mega projects does not stop even in the midst of an epidemic; Corruption-looting sensational news serials are being discussed in each project there.
The government is in a dilemma to deal with these incidents like one thunderbolt after another. Which, of course, made the video an overnight sensation. The news of killing and extortion of Rohingyas is coming to the fore as bigger news than the humanity of giving shelter to Rohingyas. The government is responsible for dealing with various groups and sub-groups including Arsa. There is no sharing of success except failure. On the way forward, in the midst of light, it is another sudden danger of darkness.
Author: journalist-columnist; News Editor Banglavision