POVERTY REDUCTION Experts differ with govt

Experts at a discussion on Wednesday said the country’s success story of reducing poverty did not match with many other indicators like growing inequality, employment, lack of good governance, low tax base and abysmal state of the banking sector.

Besides, they said the assessment of poverty with the World Bank yardstick of $1.9 and traditional method of calorie intake should be changed in the light of sustainable development goals to address the vicious cycle of poverty meaningfully.

The speakers gave the views as they were reviewing the book titled ‘Daridrer Arthaniti: Atit, Bartaman O Bhabishyat’ by former caretaker government adviser Akbar Ali Khan.

Local think-tank Policy Research Institute organised the event at its office in the capital.

Former Bangladesh Bank governor Mohammad Farashuddin, Akbar Ali Khan, PRI chairman Zaidi Sattar, Prothom Alo editor Matiur Rahman,  Bangladesh Institute of Development Studies research director Binayak Sen, former Bangladesh Bank chief economist MK Mujeri, Centre for Policy Dialogue executive director Fahmida Khatun and BRAC  University economics and social science department chairman ATM Nurul Amin took part in the discussion.

While narrating the main features of his book briefly, Akbar Ali Khan said the country improved its poverty situation from what it was like in 1971, but the poverty reduction was not comprehensive if Bangladesh’s case compared with other countries.

He said it would not be possible for the country to achieve the sustainable development goals by 2030.

He criticised prime minister Sheikh Hasina and Nobel laureate Muhammad Yusnus for making propaganda that the country’s poverty was eliminated.

Focusing on the country’s unemployment scenario, Akbar Ali said that it made him laugh when it was announced in parliament that the country’s employment rate was over 4 per cent.

Binayak Sen said one third of the children in the country was facing stunted growth due to the prevailing inequality which threated efforts in poverty reduction.

Fahmida Khatun said many governments did not want change in poverty assessment yardstick as it would risk an increase in the number of the poor.

She said growing inequality, low tax base and suppression of the poor and the middle class would not have been possible if there was rule of law and discipline in the financial sector.

While addressing the session as chief guest Farashuddin argued that a country with high growth and good governance became very rare today.

He said Vietnam is an exceptional case where the magic of manufacturing capacity under a strict regulation.

Farashuddin, however, supported the view held by others on the country’s tax-GDP ratio, which is below 9 per cent and one of the lowest in the world.     

He said a financial sector reform was an imperative to collect tax from the affluent.

Zaidi Sattar chaired the session while PRI executive director Ahsan H Mnasur gave the welcome speech.     

Zaidi Sattar said in his address that Akbar Ali in his book did not focus on inequality that grew initially alongside speedy economic growth.

He said the syndrome was acute in Bangladesh’s case although China and South Korea did not experience such outcome.

News Courtesy: www.newagebd.net