Bangladesh turns 50 today. Over the last 50 years the country has gone through many ups and downs. Socioeconomic condition of the country improved a lot before the assassination of the Father of the Nation Bangabandhu Sheikh Mujibur Rahman in 1975 and then after 1996 under the able leadership of the then Prime Minister Sheikh Hasina. She served as the Prime Minister of the country from 1996 to 2001. During her tenure the economic condition of the country improved remarkably. Prime Minister Sheikh Hasina tried to remove inequality, reduce corruption and create new employment opportunities during that time. She tried to develop welfare-based economy which lead to rise in growth of GDP. Whereas GDP growth rate was 4.5 per cent in 1996 it raised to 5.07 per cent in 2001. The World Bank has forecasted Bangladesh's economic growth at 6.4 pc for the fiscal year 2021-22, which is 1.3 percentage points higher than the earlier projection.
During her first term, Prime Minister Sheikh Hasina diversified the country's export basket and reduced poverty rate. In the education sector, the then govt. tried to rise the number of students. Prime Minister Sheikh Hasina is against communalism and terrorism like her father. On December 5, 2021 in the World Peace Conference 2021, she said that the Father of the Nation enacted the territorial waters and Maritime zones act in 1974 to ensure Bangladesh’s maritime boundaries and the peaceful uses of its resources. Bangabandhu dreamt of a repression free society. He gave the birth of Bangladesh and also worked hard to develop the country. But imperialist power assassinated the Father of the Nation along with his family members on August 15,1975.
Sheikh Hasina has been working relentlessly to materialise the dream of the Father of the Nation Bangabandhu Sheikh Mujibur Rahman. When Sheikh Hasina came into the power, the country rapidly started progressing with attaining equal distribution of wealth. Her welfare attitude leads to economic progress with social justice. She has been trying to achieve Sustainable Development Goals. Bangladesh has stepped into a new journey as it qualified to graduate into a developing nation from a Least Developed Country (LDC) after 45 years. However, Bangladesh needs to take appropriate measures to accept the challenges of the LDC graduation.
The present government has taken many initiatives to ensure rural development. However, civil bureaucratic mannerism in the country is hampering the economic growth as entrepreneurs may not be able to take right direction in time. NBR must work properly with adequate strategies. Bottom up and Top down approach need to be addressed for redesigning NBR’s activities and customs activities. Light engineering and Pharmaceuticals may be major source of earnings in the country.
Generation gap is rising which must be resolved. Nowadays in the era of globalization from the childhood maximum new generation do not like to hear older person which is very important as they are the future of the nation. Normally youth follows models, actors and actresses as well as social media. As such models, actors and actresses should behave responsibly so that youth generation should not be misguided.
The government tried to help the poor during lockdown. Cottage, Micro, small and medium enterprises suffered a lot during lockdown. More benefits need to be given in Cottage, Micro, small and medium enterprises which were accounted for 80% of the manufacturing services. 25% of the GDP contribution came from this sector. Banking sectors must work for poor people. Unfortunately they sometimes lack their vision and mission to help community development. But if tried to bank followed our Prime minister’s directives than they must act to help Cottage, Micro, small and medium enterprises. It is worth mentioning that Prime Minister Sheikh Hasina from her own fund donated money to the Cottage, Micro, small and medium enterprises.
Govt. of Bangladesh tried to improve education with employability skill. As such Bangladesh Accreditation Board was established with the special directives from the prime minister of Bangladesh. The Bangladesh National Qualifications Framework (BNQF) was recently prepared. Still in case of appointment of faculties result in SSC,HSC is considered in Bangladesh but all over the countries result counted Honors and masters level. Quality education for better values, additional responsibility, close relative participation, independent arrangement, become familiar to innovative skill, set of courses amendments,
To improve research quality, university grants commission of Bangladesh needs to rank journals at the tertiary level like UGC, India. Bangladesh is developing as per the advice of the great statesman of Prime minister Sheikh Hasina. Spending on education is thinking as an effective employment creation. Dhaka School of Economics as per the advice of the honorable prime Minister has started programmes on Entrepreneurship development under 4 years Bachelor of Economics(Entrepreneurial Economics), 9 months Post graduate diploma in enterprise development and 18 months Masters of Economics (Entrepreneurship Economics). Govt. can help Dhaka School of Economics to establish economic entrepreneurship lab which is essential for developing techno-entrepreneurs. Govt. is trying to develop connectivity among the entire nation and mega projects are going on. An airport need to be built in Cumilla which was closed down during the regime of Zia. Chittagong-Dhaka direct train programmes need to be started via Cumilla so that less people will come into Dhaka city.
Govt. is trying to maintain friendship with all countries without any pre notion.
Prime Minister Sheikh Hasina received “WITSA Eminent Persons Award 2021” for her exceptional assistance to humanizing the livelihood regular of populace by use of information and communication technology. She also received "SDG Progress Award" to decline poverty, protect the planet and ensure peace and prosperity for all in Bangladesh. If Bangladesh was not benefited then the economic progress would have remained obscure.
Victory of Bangladesh is a big issue as Pakistani forces and civil and military forces repressed Bangladesh from 1947 to 1971. As such we want to hats off to our Honorable prime minister for her visionary and missionary role to develop human dignity. Her father created Bangladesh and she is developing the country.
The author is macro and financial economist and IT and Enterprise expert