The entire nation is passing through a critical period due to the coronavirus pandemic. To overcome the crisis, rapid expansion of business, investment and industrialisation is a must. This requires creation of skilled manpower, increased use of technology and strengthening of economy. But, inefficient administration and bureaucracy have been identified by the business community as major hurdles towards flourishment of business in the country. Next, they have detected corruption and lack of adequate economic cooperation that also impede expansion of business. Proper working atmosphere is absent due to prevailing inefficient administrative structure and corruption.
A study of the Centre for Policy Dialogue (CPD) has revealed the information at a virtual media briefing in the capital on Thursday. The local think tank was disclosing the Global Compositeness Report 2020 of the World Economic Forum (WEF) along with the Bangladesh Business Environment Study.Entrepreneurs think that inefficiency of bureaucracy and extra time and cost for public services increase the overall cost of doing business. It is an open secret that bureaucrats usually refrain from working for doing something good and fulfilling the needs, demands and aspirations of the common people as well as the taxpayers by whom the civil servants are being paid. The latest assertion of the business community has confirmed the unwelcoming role of the bureaucrats.
Because of sluggish administration and bureaucracy, the country’s investment and development are being hampered to a great extent. Project implementation also slowed down due to this phenomenon. There has also been instance of returning money of foreign funds due to its non-utilisation. It is indeed a matter of shame for the nation! As a result, the speed of development got retarded. Now, the country is undergoing a massive development following various ambitious projects taken by the government. The country’s development could have been much greater if it had been done in a proper manner through creation of a healthy business climate.
So, more attention should be concentrated on making administration and bureaucracy more efficient. We should never forget that their efficiency is a prerequisite for the growth of business and national prosperity.