Barrister Kamruzzaman Shadhin :
In a developing nation like Bangladesh, democracy is a vital criterion and should be considered a fundamental prerequisite for long-term growth. Bangladesh has experienced democratic and authoritarian militaristic leadership since its independence in 1971.
Inflation, exchange rate, population growth, savings to investment ratio, corruption, political unrest, labour force, unemployment, productivity growth and utilization are identified as the key dominant variables of GDP in a country.
Political instability is the critical limiting issue in Bangladesh that is preventing overall progress among the causes mentioned above. Bangladesh was founded in 1971, making political instability a significant characteristic of the country. In recent years, there have been numerous ups and downs, and the transfer of power is not smooth.
Generally speaking, political stability is essential to any nation’s economic prosperity. According to the World Bank Index, Bangladesh is ranked 172nd in terms of political stability, and this suggests that Bangladesh is a severely affected country by political instability.
Bangladesh has hardly ever witnessed or enjoyed political stability during its entire history. Numerous economists and experts have pushed political parties to maintain stability over the years but in vain.
As a result of Bangladesh’s unstable political system, we have seen many violent, destructive tactics utilized by political parties. Political instability negatively impacts total factor productivity growth because it discourages the accumulation of physical and human capital.
The most significant impact of political unrest is the loss of human lives, injuries and long-term sufferings incurred by the families; however, estimating such impact in monetary terms is nearly impossible. Apart from these irreplaceable losses, political instabilities have significant negative aftermaths on the economy by increasing the price of necessary consumer goods.
Moreover, some sectors are more prone to political fluctuations than others, namely the transportation and retail sector, as these get directly interrupted. Political instabilities also affect the manufacturing industry, though indirectly, by increasing the cost of production or by decreasing the total output, which eventually has a long-term adverse consequence on the overall business situation of the sector.
Depending on the firm’s size, nature, and organizational structures, political instability has varying effects on the business. During these political strikes, the transportation industry and small retail stores are particularly heavily hit.
The political unrest also impacts small and medium-sized businesses (SMEs). Civil turmoil, hartals, related violence, road barricades, etc., have put the entire industry in danger. Corruption, poverty and serious issues have been partly brought on by political conflict in Bangladesh.
At a political event on August 21, 2004, in Dhaka, there appeared to be a threat to the life of opposition leader Sheikh Hasina. The most significant events in recent years, among numerous others, include this attack and massive explosions in mid-2005 that left 26 people dead and dozens more injured.
However, following August 21, 2004, the constitutional requirement that elections be held under a neutral government was dropped, and politics grew more antagonistic, violent and unstable.
Bangladesh faces five interconnected barriers to effective governance: (1) the limited capacity and political impediments to the development of nascent democratic institutions (2) corruption and ineffective mechanisms to ensure transparency and accountability in all branches of government; (3) barriers to citizens accessing justice and the justice system; (4) the concentration of authority and resources at the national level and (5) the growing authoritarian nature of the government.
For most Bangladeshis, the Government of Bangladesh’s accountability and responsiveness are measured in terms of the delivery of essential services, the level of corruption, the application of the rule of law and the administration of justice.
Support for increased citizen engagement and effective governance will generate increased demand for better public services, which, in turn, will culminate in improved accountability and responsiveness to citizen needs, thereby increasing citizen confidence in governance institutions.
Failure to achieve this objective would result in economic and political instability due to the further decrease in citizen confidence in government institutions and diminished respect for the rule of law stemming from adverse public reactions to government corruption.
The lack of well-coordinated party support for successful mobilization hinders Bangladesh’s political development. Its numerous political parties distinguish Bangladesh. However, no political party is strong enough to unite the populace under a single national philosophy. Because there isn’t a well-organized party, there is uncertainty among the people, which endangers stability and orderly change.
The proper balance of the bureaucracy is one of Bangladesh’s most pressing political development challenges. Bangladesh is in a difficult situation concerning the correct balance of the bureaucracy. On the one hand, giving the bureaucracy too much power hinders the growth of political institutions. On the other side, if the bureaucracy is not given significant power, its lack of cooperation hampers management and the effective running of politics.
So, Bangladesh has to work hand in hand for its development, making trust among political bodies and understanding to implement its political stability, initiatives have to take with sheer professionalism, congeniality, sympathy and responsibility.
(The writer is Advocate, Supreme Court of Bangladesh).
