Privatizaion problem in Bangladesh

Is Privatization good for Bangladesh?

Privatization has been advocated in the development literatures as the gateway of the growth and development of the countries all around the globe. Some could achieve the desired goals and some failed enormously. The reasons of their failure include structural constraints, inappropriate policy guidelines, imposed instruction and ineffective implementation strategies. However, the World Bank and the IMF have been gearing up the campaign of privatization for less developed countries (LDCs) to stimulate their growth and development.

 

After liberation in 1971, Bangladesh inherited an economy dominated by private sectors. The new government, led by Sheikh Mujibur Rahman was committed to socialism and nationalized the heavy industries that were previously run privately. It also faced an industrial ownership vacuum as fleeing West Pakistanis abandoned their industrial and commercial companies.

 

Unpredictable and poorly administered government policies also create problems. High taxes, frequently changing tax rates, arbitrary interpretations of tax rules and other harassment by tax authorities usually raise the cost of doing business and discourage restructuring. The lack of legal and economic information, including market studies and company diagnostics could also be a problem. It has been found that in spite of making promises, no regime in Bangladesh has come out with a clearly stated privatization policy which would both spell out its underlying logic and provide a coherent set of guidelines to define its direction.

There are a number of potential sectors for privatization in Bangladesh some of which are mentioned below:

Power Sector

Natural Gas and Oil Exploration

Tele Communication

Transport Sector

Port and Container Handing

Aviation and Tourism

Banking and Insurance and so on.

Ready-Made Garments Industry in Bangladesh

Garments Sectors are boosting in Bangladesh

The garment industry of Bangladesh has been the key export division and a main source of foreign exchange for the last 25 years. At present, the country generates about $5 billion worth of products each year by exporting garment. The industry provides employment to about 3 million workers of whom 90% are women. The ready-made garments industry in Bangladesh consists of many small to medium garment factories. In 2004, there were 3480 factories that employed 1.8 million workers of which 1.5 million were women.

Women are working in a ready-made garment industry

image source : internet

The rapid growth of the ready-made garments industry in Bangladesh has been facilitated by the following factors: cheap labor; lack of employment options for women; simple technology; small amount of capital required; and economic changes and policies that encouraged the growth of this particular industry. These factors are inter-related.

Women are the main part for ready-made garments

image source : internet

The literature on the ready-made garments industry has described the problems faced by women workers the impact of employment in this industry on adolescence, health, fertility and marriage of garment workers sexual exploitation of workers and the impact of the industry on women’s position in society and in their families. The ready-made garments industry can be an agent of change by helping to reduce the social, political and economic exclusion faced by women in Bangladesh. 

Top Remmitance

Remittance Earning by Bangladeshis

Bangladesh, being one of the top remittance-recipient countries in the world, has drawn attention to the remittance-output relationship in recent years.Bangladesh is a small country having large population. It is a place for wage earners. Many of citizens of Bangladesh work in different countries of the world. Presently 70 lac of its citizen are working in different countries like USA, UK, Saudi Arabia, UAE, Libya, Malaysia, Singapore, Qatar and most of the other Middle East countries.

Bangladesh fetched its highest remittance of US$ 1371.34 million from Saudi Arabia during July-November period of the current fiscal (2011-12), reports UNB.

Bangladesh Bank showed that remittance from Bangladeshi wage earners abroad totaled around $4927.74 million during the July-November period. The good news is that this statistics is the growth of 7.56 percent over the $4581.43 million of the corresponding period in the last fiscal (2010-2011).

The Bangladesh bank data showed the second highest remittance for the July-November period as $ 897.01 million from the United Arab Emirates (UAE), followed by $ 604.51 million from USA, $ 497.62 million from Kuwait and $391.23 million from the UK.

Bangladesh received $ 11650.32 million from the wage earners’ remittance in the last fiscal, registering a growth of 6.3 per cent. It received $ 10987.4 million in remittance in the previous fiscal (2009-10).

Libaration War of Bangladesh

A little description of our Liberation War

 The Bangladesh Liberation War started in 26^th March, 1971 which is called "Muktijuddho" by Bangladeshis. The war was a duration of 9 months long which has been ended on 16^th December, 1971. The war started between the state of Pakistan (previously West Pakistan) and East Pakistan in which India intervened on 3 December of 1971. In between this time 30 million citizen of East Pakistan was killed. 

They demolished most of the main part of the country. The West Pakistan started this genocide which called by them Operation Searchlight. They started killing civilians, students, intelligentsia everyone those who are in front of them. The war started because the people of Bangladesh were demanding for the military regime to honor the results of the first ever 1970 democratic elections in Pakistan won by an East Pakistan party. On Dec. 16 1971, the army was defeated and East Pakistan declared independence from the totalitarian regime of West Pakistan. The new nation was baptized as Bangladesh, meaning the “Country of Bengal.”

Jagjit Singh Aurora & A.A.K Niazi - Signing the Instrument of Surrender

Father of The Nation Bonghobondhu Sheikh Mujibur Rahman

Muktibahini at war against West Pakistan at 1971

Image source : Internet

The party leader was Sheikh Mujibur rahman. He was the leading person who protests the genocide of West Pakistan and makes our civilians how to protest them. Later He was declared as "Bonghobondhu" and lastly "Father of the Nation".

Bangladesh India Border

The Killing at Border of India-Bangladesh

India and Bangladesh share their border around 2500 miles. Basically Bangladesh border is surrounded by India except a little bit is through Myanmar. Whereas India helped Bangladesh during its Liberation War at 1971. So the Bangladeshis have faith on India from the beginning. Bangladesh is small country comparing to India. So when a country like India is involved in killing Bangladeshi unarmed citizen near border can be said as genocide. We never expect such kind of attitude especially from India.

Killing at the border of India-Bangladesh by BSF

image source : internet

Before the British divided the border of Indian subcontinent at 1947 Bangladesh, Pakistan and India was together. So the culture of these countries is much more similar. In that case if we think about the killing then it can be said that they are killing their brother, sister or close relatives. This genocide must be stopped and must show friendly relationship with the near country.

If European Union can be together so why this kind of mentality in our subcontinent. We love our world so we should love the people also.