Home Today's Paper Most Popular Video Gallery Photo Gallery
Subscription Blog Signin Register
Logo
Tuesday, March 19, 2019 09:45:48 PM
Follow Us On: Facebook Twitter Twitter Twitter Twitter

Private sector needs domestic support

By
05th-Sep-2018       
Comments
Share your thought
Post a comment »
Read all () »

Mushfiqua Mosharref Shiloo :
Bangladesh has a significant sign of private sector's active presence, that made the country as highly developing and it is declared as a middle income country as well. Private sector (PS) is a sundry group of financial institutions, intermediaries, multinational companies, micro, macro, small and medium-sized enterprises and co-operatives which operate formal and informal sectors and obviously they do have profit-seeking activities. Private sectors are potential for resource and knowledge generation & innovation hub.
There is a catch phrase like "Private sector engagement in programme" in Government Organization (GO), NGO and International NGO sector. These sectors are knocking at private sector to engage in development initiative to make development a quality one and sustainable.
In Bangladesh, private sector is systematized over and done with various business associations, including at city and country levels such as the Dhaka Chamber of Commerce and Industry and the International Chamber of Commerce Bangladesh.
Sector specific associations also exists here, such as the Bangladesh Garment Manufacturers and Exporters Association, Bangladesh Banking sector, Leather industry, cement factory, stone, textile, tourism, plastic companies, food & beverage companies, still & furniture industry and so on are playing leading role as private sector in Bangladesh and contribute to Bangladesh economy and allocate their CSR fund for development initiative.   
BGMEA started its journey in the late 1970 with a small investment. Readymade Garment sector impact a lot in our economy as large portion of gross domestic product (GDP), and contributes to Gross National Product (GNP) and the sector empowered women financially and brought dignity for them because almost 80% workers are women in this sector.
The pharmaceutical industry in Bangladesh is one of the most developed hi-tech sectors within the country's economy. There are 240 registered companies in Bangladesh, whereas there were only 33 pharmaceutical companies in Bangladesh in 1971; now the sector is providing 97% of total medicine requirement of local market. This sector contributes 1% of GDP and it is playing second largest revenue of government royal treasury.
Some reputed private sector organizations-Unilever, national polimer, bengal plastic, Social marketing company, PRAN-RFL, bKash and many more had participated to a market based programme that was an emergency response project of a renowned INGO through their business competencies as; they ensures their product quality, maintained the supply chain smooth and ensured product to the affected community and local market without doing any harm to other.
In that emergency response, the local markets were keeping their selling high during flood with cooperation of Private sector actor, and affected community felt dignity for not standing in a que to collect their entitlements; they bought their necessary item as they choose from shops where that INGO injected e-cash (money) and engage private sector to the project.
They set idol to watch the relief distribution to the affected community because the relief items were centrally purchased before. A reputed private sector played very vital role for producing sanitary napkin for adolescent girls as they need; that is a quality product considering the materials, size and price.
Some like-minded social worker groups are contributing to School level Implementation Plan (SLIP) and Risk Reduction Action Plan (RRAP) of specific community. An Individual also is funding in SLIP and Community RRAP. But the fund is not enough as need!
Grants of private sector is being used for constructing school, college, madrasa, Hospitals, clinics, internal road and personal grants for education, treatment and livelihood restoration. Development initiatives from both foreign funding and the PS funding are going parallels and unfortunately there is no prominence of our own private sector's engagement! Private sector looks for opportunity to work with GO, INGO and NGO with less interest to direct funding for a specific programme.
There are challenges for Bangladesh to bring into line private sector priorities with national priorities. Hither to Bangladesh focused on some key themes in 7th five year plan as, GDP growth acceleration, employment cohort and rapid poverty reduction; with a view to empowering every citizen to participate in and benefit from the development process and Creation of a sustainable development conduit resilient to disaster and climate change, with justifiable use of natural resources and proper management of urbanization. There was huge scope to allocate PS's CSR fund; but it was not properly assessed.
The private sector can contribute in some ways; maintaining sustainable supply chains, consumer management and produce quality product; by setting up accountability frame works and through collaboration.
However there is political accord exists on role of private sector in supporting sustainable development outcomes transversely government, the business community, development partners, research institutions and civil society.
The private sector needs to improve the business enabling environment, improve access to finance, in particular in rural and remote locations, and address infrastructure constraints.
NGO and INGO have different language for funding; Donor have different types of direction to expend money for a specific project. There are some controlling apparatuses to protect misuse fund! Foreign donor wants to ensure quality service with their fund. Donor permits a specific percentage for overhead cost and other cost, they have guide lines to use exchange money, unspent money and so forth.
Whereas private sector do not care much for so called fund regulations but they have their own direction to use the money. If NGO/INGO designs project and programme market based that obviously ensure private sector's active engagement. Such as a market based emergency response programme does no harm to the local market and community.
A traditional emergency response usually purchase relief centrally and distribute to the affected community and the market seat idol but watching the distribution without no selling their variety product that may cover for the affected community maintaining the supply chain system! And private sector can play vital role and create win-win situation in the local community or in national context.
Foreign donors may back from Bangladesh gradually; though donors are donating a huge amount of money for rohingyas at present; but in regular development initiatives, foreign donation may decrease subsequently the country is declared as middle income country.
The Non Government Organizations (both national and local) are going back from regular development initiatives rather they started income generating activities as such training center for corporate sector and other, service with credit-water credit, credit for livelihoods, and credit for skill development and so on! Due to lack of foreign fund!
It is high time to allocate Corporate Social Response (CSR) fund directly to a specific development initiative for the private sector and it is important to be sensitize, understanding on partner's language, specific project and be a domestic donor to ignore for a bulk of foreign donation because Bangladesh is going ahead with its developing spirit!

(The author is working with an international NGO).

Tariff
Add Rate

News Archive

Inside The New Nation

Football »

Bangladesh Ambassador in Nepal meet women booters


Bangladesh's ambassador in Nepal Mashfee Binte Shams yesterday paid a surprise visit at Xenial Hotel to motivate the Bangladesh eve football team ahead of the Bangladesh's semifinal clash of the SAFF Women's Championship, according to message received here from Bangladesh Football Federation.Mohammed Al Alamul Emam (Councilors and Head of Chancery) ...

Football »

PSG shrug off fan protest to beat rivals Marseille


Angel Di Maria scored twice as Paris Saint-Germain eased to a 3-1 victory over Marseille on Sunday to extend their long unbeaten run against their arch rivals and move 20 points clear at the Ligue 1 summit.A group of PSG ultras were boycotting the opening stages of the game over ...

International »

US-backed force says it has taken positions in IS Syria camp


Reuters, Baghouz, Syria :U.S.-backed fighters said they had taken positions in Islamic State's last enclave in eastern Syria and air strikes pounded the tiny patch of land beside the Euphrates River early on Monday, a Reuters journalist said.Smoke rose over the tiny enclave as warplanes and artillery bombarded it. Another ...

International »

New gun laws to make New Zealand safer after mosque shootings, says PM Ardern


Reuters, Christchurch :New Zealand Prime Minister Jacinda Ardern said on Monday she would announce new gun laws within days, after a lone gunman killed 50 people in mass shootings at two mosques in the city of Christchurch.Australian Brenton Tarrant, 28, a suspected white supremacist, was charged with murder on Saturday. ...

City »

BNP Standing Committee Member Dr. Khondkar Mosharraf Hossain speaking at a memorial meeting on former Secretary General of BNP Khondkar Delwar Hossain at the Jatiya Press Club on Monday on the occasion of the latter's 8th death anniversary.


Editorial »

Rohingya criminals: A new challenge for Bangladesh


ROHINGYA refugee crisis is getting critical day by day. Now unlawful activities of some Rohingya criminal groups have become headache of law enforcement agencies. A Cox's Bazar court on Sunday sent 13 Rohingyas to jail as two groups of the refugees clashed in Ukhiya's Kutupalong camp on Saturday night. Police ...

Entertainment »

Tanuja and Kajol welcome Pranutan to Bollywood


Actress Pranutan who is marking her debut with Salman Khan’s Notebook receives the sweetest message from Kajol and Tanuja. The actress, who is living her dream as she embarks on her Bollywood journey with Notebook, has received an endearing message from Kajol and Tanuja, who are her family members. Hailing ...

Football »

Zidane enjoys winning start but Atletico beaten in Bilbao


Zinedine Zidane brought Real Madrid's outcasts in from the cold and they repaid him with a win over Celta Vigo on Saturday but La Liga's title race could well be over after Atletico Madrid were beaten by Athletic Bilbao. Isco and Gareth Bale each scored in Madrid's 2-0 victory over ...

Editorial »

Land officials` wealth reports should be made public


THE Land Minister after taking charge in January openly declared a crusade against the corruption, and directed the officials and employees to submit their wealth reports by February 28. As per his order, the wealth reports have been submitted but these were not made public.  Rather, Land Secretary says the ...

International »

New Zealand digs graves as mosque massacre toll rises to 50


AP, Christchurch, New Zealand :Anguished relatives were anxiously waiting Sunday for authorities to release the remains of those who were killed in massacres at two mosques in the New Zealand city of Christchurch, while police announced the death toll from the racist attacks had risen to 50.Islamic law calls for ...

International »

Joe Biden (almost) announces he is running for President


AP, Dover :For a brief moment, former Vice President Joe Biden placed himself in the crowded field of Democratic presidential candidates during a speech on Saturday night. Biden seemingly described himself as one of the people "running" while noting he gets criticized by some progressives."I have the most progressive record ...

Entertainment »

Mim in web series


Sheikh Arif Bulbon :Few days ago, National Film Award winner actress Bidya Sinha Saha Mim acted in a web series titled Beauty & Bullet under Animesh Aich’s direction. Tahsan Khan was her co-actor in that series which yet not aired till now. Meanwhile, Mim has started shooting of Golam Sohrab ...

International »

US-Afghan tensions erupt over Kabul's exclusion from peace talks


Reuters, Washington  :The United States and Afghanistan clashed publicly on Thursday over U.S. peace talks with the Taliban, with a visiting Afghan official accusing the chief U.S. negotiator of "delegitimizing" the Kabul government by excluding it from the deliberations.The remarks by Hamdullah Mohib, a former ambassador to Washington who serves ...

Football »

FIFA votes for new Club World Cup, Euro clubs confirm boycott


FIFA will go ahead with a new 24-team Club World Cup starting in 2021, its President Gianni Infantino said on Friday, setting the world soccer governing body in conflict with Europe's top clubs.Infantino, speaking at a news conference, said FIFA had made the decision at its council meeting on Friday.The ...

City »

Children are engrossed in painting at a drawing competition organised by the Jatiya Press Club on the occasion of birthday of Bangabandhu Sheikh Mujibur Rahman and National Children's Day at the club on Saturday.


 
Items that you save may be read at any time on your computer, iPad, iPhone or Android devices.
 
Are you new to our website? Do you have already an account at our website?
Create An Account Log in here
Email this news to a friend or like someone
Email:
Write a comment to this news