Smile of marry with industry
by Swadesh Roy
( July 4, 2015, Dhaka, Sri Lanka Guardian) 30th June evening! It is a different evening in Bangladesh for the political and social elite; it is the day of the end and beginning for the Finance Minister. Usually the Finance Minister of Bangladesh produces the country’s’ financial years’ budget from 3 June to 7 June this year in the Parliament. Members of the Parliament discussed the budget until 28 June. On 29 June, Finance Minister did some revision in his budget and the Prime Minister of Bangladesh and the leader of the Parliament delivered their closing speech of the budget session in the Parliament. On 30 June, before afternoon, Parliament passed the budget for the next financial year. In the evening of 30th June Finance Minister gave a dinner party to the political and social elites of the country; Prime Minister also joined there as the chief guest.
30th June of 2015! It was more different evening than that of another year. Harvard educated Octogenarian Economist, the Finance Minister, who is known to the country and aboard, a man of high energy, Abul Mal Abdul Muhith, was entering the biggest convention hall of Bangladesh with a very smiling face. Enormous number of cell phone set camera and the camera of media were busy to frame in his face. His stepping, body language was expressing; he was then the happiest man in the country. There was another difference on that 30th June, for the first time Finance Minister of Bangladesh did not give dinner; he gave Ifter( to take food after whole day fasting) because it was the month of Ramadan, majority people were fasting. Prime Minister came with fasting, but her face was not showing she was tired rather her face was bright.
Why this 30th June was different, media and others were busy to frame in the Finance Minister and the face of Prime Minister which was bright. It was the day, the economy of Bangladesh entered a new epoch. In 1972, the economy year was started in Bangladesh by her first budget; it was only 20 million Bangladeshi Taka (BDT). On that 30th June 2015, the National Parliament of Bangladesh passed the budget which was three trillion BDT. The running GDP of Bangladesh is 6.2 percent, but next year Bangladesh expecting 7 percent GDP. Moreover, Bangladesh has changed her economic pattern through this budget. From this budget, Bangladesh is going to initiate an industrial base economy to give up its agro-based economy.
Starting to make an industrial base economy in Bangladesh, Sheikh Hasina, the leader of this tiny country has to cross a very rough windy sea. She has to face many obstacles, in the country and abroad. In last six years, at least one and half years time she has to face one kind of urban guerilla war fare which was run not only by the Islamic fundamentalist but also sponsored by one of the major political party of Bangladesh. She is the leader and Bangladesh is the only country where legal political party is sponsoring the Islamic fundamentalist and they are getting support from a group of intellectuals of Bangladesh even sometimes the west diplomats to Bangladesh. That is why some time propaganda against Bangladesh takes upper hand than reality. This type of propaganda by the intellectuals made World Bank confused too. World Bank canceled one of its loans for an infrastructure development, the Padma Bridge of Bangladesh. The leader and government chief of Bangladesh did not bend over her head to the fundamentalist even the World Bank.
30 June 2015, when the Prime Minister of Bangladesh entered the post budget Ifter of Finance Minister, then her head was very straight; she has already caught the neck tightly of the Islamic fundamentalists and their leader Khaleda. Padma Bridge was running fast by countries with own fund. The cost of Padma Bridge is $3 billion. Besides, to enter the industrial base economy, in last six years, Bangladesh government invested $7 billion in the electricity sector. Government target is that, they will invest $60 billion within 2030, in the electricity sector. Bangladesh government has already started making an electricity hub in one of the Island in the country name Matar Bari. Japan, China, Korea and India all are going to invest there. Simultaneously, Bangladesh is going to invest in the hydro electricity in North East part of India and Bhutan. It was 30 June of 2015; Bangladesh entered the industrial base economy with 12000 MW capacity of producing electricity. The way Bangladesh is advancing, in 2030, at least forty thousand-mega watt electricity will be flown all over the country.
Electricity is not the only weapon of the industrial based economy but also other infrastructures are also needed; Bangladesh is going to set up other two international airports and three domestic airports. Second Seaport Mongla is under up gradation; two new seaports will be established. Besides maritime and river line communications is upgrading; it will not only connect Bangladesh to India, Myanmar and China but also the whole Far East Asia; that is an essential hand for entering Bangladesh to her new industrial economy era.
Many pessimist economists can search a lot of holes in this future, but in reality, Bangladesh is running to its new destination. Therefore, not only the finance minister and the Prime Minister had smiling face on this post budget Ifter, the all social and political elites were in very shine face. All the faces are obviously more shining now since two days after 30 June World Bank declared, Bangladesh is now lower middle-income country.
Swadesh Roy, Executive Editor, The Daily Janakantha, Dhaka, Bangladesh he can be reached swadeshroy@gmail.com
