A government report on Tuesday said Bangladesh achieved 6.94 percent GDP growth in the 2020-21 fiscal year amid the Covid-19 pandemic. “The country’s GDP size stood at US$ 416 billion and the per capita income rose to US$ 2,591 in the last fiscal year,” Planning Minister said at weekly meeting of the Executive Committee of the National Economic Council (ECNEC). What’s clear is that government is trying to establish that people’s per capita income has increased. It doesn’t need to elaborate the statements as most of it is absurd, impractical and also not reflected in the people’s daily life.
We like to mention the latest survey report that carried out by South Asian Network for Economic Model (SANEM) which has found that overall business confidence for January-March 2022 dropped in comparison to the level of previous quarter. So it is imaginable what the situation may be in this ongoing financial quarter when the prices of almost all essential items are skyrocketing. There is no one to check the syndicates who control the market. The ongoing style of market economy has made a section of people ultra-rich.
Everybody knows that what’s the actual situation of businesses was, especially the small ones, during pandemic lockdown. We have doubt whether government has any data how many businesses were compelled to shut down their operation at that time. It will never be known exactly how many people had lost their jobs and how many families have forced to leave the cities for taking shelter in their village homes being unable to bear the expenses. Though several economists have said the number of new poor is around three crore, the government-paid economists did not mention it in any of their statements.
Following the impact of Omicron, 71 per cent of firms reported a decrease in export order and sales, followed by 79 per cent of firms complained about cost increase and 82 per firms reported a rise in input costs. What’s most significant finding of SANEM survey is that 74 per cent of the business firms did not receive any stimulus package. Finally, the fuel price hike in November was the major reason behind the drop in business confidence.
When corruption and irregularities have marked a sharp rise, a media report yesterday said only increasing in project costs in the last fiscal year amounting to around Tk 29, 500 crore could build another Padma Bridge. Costs of three projects were increased once more in Tuesday’s ECNEC meeting. This is the reality. This is the actual picture of development.
It is very upsetting that, SANEM had reportedly faced trouble after divulging its findings about the condition of business. The government wanted to know from where they have got the information and the name of businessmen who had provided them the picture. Sometimes it seems the ministers and government officials consider the general people as fool and empty headed.
