by In the midst of the ongoing Kavid-19 epidemic, almost all types of industries have been set up in compliance with the hygiene rules. Shopping malls and shops have been opened. But the economy is not freezing due to declining demand. Meanwhile, Eid, the biggest religious festival, has come to the door.
As a result, after the opening of offices, courts and industries after the Eid holiday, a new dimension will be added to the country's economy, experts said. Because the supply of money will increase at a significant rate in the whole country centering on Eid-ul-Azha. Again, new money will reach the hands of some people. In the meantime, new export orders have started coming. The production and shipment process of some of these orders will start after Eid.
As a result, the process of revolving the stagnant economy will be further strengthened. In order to maintain the high growth rate of the country's GDP, the activities of both the public and private sectors need to be further enhanced. In particular, there is no alternative to increasing private investment. In this case, all development activities of the government should be kept active. Experts believe that government policies and other assistance should be increased to increase industrial production and create employment. Meanwhile, the pace of Kavid-19 infection has not slowed down yet. Infections and deaths are increasing every day. However, in the meantime, economic activities have started in the country in compliance with the health rules. Of course, such economic activities have started all over the world. In this situation, the concerned people think that the country's economy is trying to turn around. There is no alternative to keeping the wheels of the industrial sector moving to revive the economy and increase employment. At the same time, it is very important to continue to help the farmers to keep the domestic production (agriculture) of the country normal and to activate the transportation system and reduce the cost of transportation. Due to Kavid-19, online system for transportation or delivery of goods for health protection is becoming popular. Therefore, experts believe that more policy support and tax exemptions are needed to expand online business.
Several incentive packages worth lakhs of crores of rupees have been announced to deal with the disaster of Kavid-19. The implementation of those packages has already started. Entrepreneurs are thinking of starting a business with new loans. On the other hand, in the name of cost-cutting, many well-known companies are implementing decisions like cutting the salaries of their employees as well as retrenching them. However, experts have criticized the retrenchment or reduction of salaries. They say that in order to revive the economy, it is necessary to increase production on the one hand and demand on the other.
And in order to increase production, the motivation of the workers has to be increased. As a result, decisions such as layoffs will reduce industry output. If we want to increase the demand again, we have to increase the supply of money in the hands of the people. We have to create a mindset of enjoyment. But creating mass unemployment will reduce people's consumption mentality, which will reduce basic needs. It will take a long time for the economy to turn around. All types of educational institutions have been shut down to prevent coronavirus infection. Although almost all types of offices-courts, shops are open. The wheel of the industrial sector has started turning. The wheel of interest on bank loans is also turning automatically. As a result, the challenge of the industrial sector is coming in the coming days. For this, the industrial sector has to provide policy support. Former caretaker government adviser economist said. In this context, AB Mirza Azizul Islam told Bangladesh Pratidin that it will take time for the country's economy to turn around. Because the whole world is still in a state of panic. Attempts are being made to normalize everything though following hygiene rules. In addition, it was initially thought that the effect would be prolonged. But it's not just protracted, its impact may not be known right now.
As a result, the impact on the economy is much greater. He said there is still uncertainty about the global Corona situation. In many countries, the infection is on the rise for the second time. As a result, the future of the economy seems to be very difficult. Although our internal production is quite good. Especially bumper agricultural production has put us ahead a lot. Abul Qasim Khan, former president of the Dhaka Chamber of Commerce and Industry (DCCI), told Bangladesh Pratidin that the Cavid-19 situation has further complicated the already existing crisis in Bangladesh's economy.
Among these, employment, infrastructure, energy, tax structure are very old problems. Now the tax structure needs to change to revive the post-Cavid-19 economy. Policy needs to be simplified. Taxpayers need to be comfortable. In order to boost trade, some things have to be made free. Then the economy will expand. Employment will increase. Production will increase. New new demands will be created.
For this, it is necessary to increase the tax net and reduce the tax rate. Traders need to be given freedom in some matters. Investment capacity needs to be increased. The banking sector has always been our source of income. The government takes money from this single sector and the private sector also depends on this sector. For this, alternative sources of finance have to be created. The stock market is a good source for raising capital. From there it is possible to increase investment by raising capital. As a result, confidence in the stock market must be restored. "We need to do more to attract foreign investment," he said.
For example, one stop service has been introduced in many concerned offices. It needs to be made more effective. We can use the investment policies of Vietnam, China, Korea and some other countries as a model. Then he thinks that foreign investment will increase. Bangladesh Institute of Development Studies (BIDS) said. Nazneen Ahmed told Bangladesh Pratidin that the wheel of industry has started turning in compliance with the hygiene rules. Our agricultural production
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