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Friday, March 30, 2018 11:24:01 PM
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Real economic progress can't be judged by UN indexes

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31st-Mar-2018       
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Bangladesh has recently celebrated a state-sponsored daylong event as it crossed the first step towards development by changing its nomenclature to a developing country from the position of a least developed country.  In the previous decades several countries have crossed the steps -from LDC to developing and medium income to developed nations. This year the UNDP in its latest report named four South Asian countries, including Bangladesh, Myanmar, Nepal and Bhutan, which got the status of a medium income country. Of the four, Nepal and Bhutan have already crossed the second step to get the status but Bangladesh and Myanmar are set to cross the step in 2021. And if everything is alright, Bangladesh would enjoy the status of a developing country in 2024 but it will also continue to enjoy the facilities it has been getting as a LDC until 2027.
Interestingly except Bangladesh none of the four countries did celebrate the event in such an exuberant manner. They probably think that it is not a big achievement. Whereas the Bangladesh government had mobilised all educational institutions and government offices marking the event and the ruling party set up huge programmes to portray it as a big achievement.
After 47 years of independence we have rearranged the stage where internationally we can be called a Least Developed Country. But to attain the stage of a developing country mismanagement and absence of accountability will not do any better. We have to show our competence and ability in curbing corruption. We shall be under proper scrutiny of world organisations including the World Bank. The internal loans will be easier but internal rules have to be complied with. The government's incompetence cannot be kept hidden.
To give a fake image, the government has increased the salaries of police and civil servants in several phases. Side by sides, several lawmakers and ruling party stalwarts have become moneyed men just within a span of a few years. Several thousand crores of taka have been looted from share market and different private and public banks.  A section of privileged citizens are involved with these activities.
 Big projects for big corruption will not be easy if there is more international accountability for investors to make investments. The ruined banking system has to show efficiency.
We do not say we should not be happy but the huge celebration of success was not called for. We should take things seriously to prove ours a developing country.
The international development indexes do no say much about internal economic wrongs and injustices. That will be judged by the people when the government will have the courage to face free election.

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