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Speakers for skilled manpower to ensure efficient budget execution


Published : 23 Jun 2020 11:33 PM | Updated : 07 Sep 2020 02:29 PM

Speakers at the Webinar underscored the need for enhancing budget amount for the sectors hit hard by Covid-19. 

They also said transparency and accountability for budget implementing is a must. With little allocation, the budget for FY21 might not cover coronavirus affected areas- they opined. 

The academicians, experts and think-tanks made this observation at the Webinar titled “Challenge to Implement National Budget for FY2020-21” organized by Economic Development Research Organization (EDRO). 

Professor of Health Economics of Dhaka University Dr. Syed Abdul Hamid, professor of Bangladesh Institute of Bank Management  (BIBM) Md Mohiuddin Siddique, faculty member of Deakhin university – Australia Dr A.K.M Mokhtarul Wadud, , Business and economic editor of the Daily Ittefaq Jamal Uddin , environment and climate finance analyst M Zakir Hossain Khan, banker and economic analyst Md Mazadul Hoque were present in the webinar seminar. 

Associate professor of economics of Jatiya Kabi Kazi Nazrul Islam  University and Executive Director of EDRO Md Tanjil Hossain presided over the session. Assistant researcher M. Helal Ahmed Jony presented a key note paper on proposed budget for FY 2020-21. 

Professor of Health Economics of Dhaka University Dr. Syed Abdul Hamid said the allocated budget for health ministry must be utilized properly. Utilization of budget needs efficiency. So, the ministry should be run with skilled manpower. Otherwise, the budget would not be effective. 

Faculty member of Deakhin university – Australia Dr A.K.M Mokhtarul Wadud opined that this budget for FY 21  may  not fulfill all demands  because traditional budget is not expected at all amid pandemic.  Employment generation in agriculture sector is a must for tackling unemployment problem- he also said. 

Private sector investment must face hurdle if the budget fully relies on banking sector to cover budget deficit and considering current situation , the investment in private sector is required- professor of Bangladesh Institute of Bank Management  (BIBM) Md Mohiuddin Siddique said in the seminar. 

Business and economic editor of the Daily Ittefaq Jamal Uddin emphasized on employment generation for the returnees who are currently coming back in the country after losing their livelihoods abroad. The state is not providing basic needs properly despite collecting tax from people- he also said. 

We are living in Bangladesh that faces a lot of natural calamities due to climate change but I find little allocation for climate issue-  environment and climate finance analyst M Zakir Hossain Khan said. 

Budget deficit gradually is widening and to cover the deficit, whitening the black money remains a dream in Bangladesh- banker and economic analyst Md Mazadul Hoque said. The government has so far given 16 times  opportunity to whiten black money but black money worth Tk 16,000 crore  realized only- Mr Hoque said.  

The World Bank fund worth $1.05 billion, that was given to Bangladesh for employment generation ,  along with budget allocation must be utilized transparent way- Mr Hoque also said. Mr Hoque also said the time comes to strengthen economic diplomacy to export skilled workers abroad to promote corona-ravaged economy.