Ease of business can revive economy

12 August, 2020 12:00 AM printer

It is highly encouraging that the export oriented manufacturing businesses have started operation in full swing as orders from global buyers are reinstated. In fact, Bangladeshi exporters received orders worth $3.91 billion in July. This is the highest figure in a single-month in the last few years. Most manufacturing units, SMEs and business entities have resumed operations overcoming challenges of the last few months. The alternative to re-opening is unthinkable economic devastation for the country as well as for individual businesses and workers.

The people of Bangladesh are renowned for their resilience from time immemorial; the bravery and courage in the face of coronavirus is unprecedented. The business community suffered heavily during the slowdown of the economy due to the initial lockdown for Covid-19. But the most affected were the workers of manufacturing industries and the daily wage earners. As long as they have work, they can pay for the food and housing for their families. The long drawn lockdown almost cut off their earnings, forcing them to draw on their limited savings which could not sustain them for long.

The government is also easing rules and regulations to bring back trade and business to their earlier shape to save the economy. The cost of business has increased due to the corona crisis. With the government and the business community working hand in hand, the country’s economy is slowly but surely reviving. Hopefully, if things continue at this pace, the economy will not only reach but outshine the previous records of earnings.

But we should not forget the lessons that the coronavirus has taught us in the last few months. The setback of these few months should not go in vain. We must be better prepared for such a pandemic happening again in the future. The health sector must be equipped to serve the people in case of another pandemic occurring again. We should never be caught unawares and unprepared by anything like this again.

 The working class people should get the healthcare they deserve for turning the wheels of the economy. Welfare spending on health and education will ensure that we have a healthy and highly skilled population to build a developed economy and prosperous Bangladesh.