Inequality dampens investors' interest:  Dr Mustafizur Rahman

Investors lose interest when there is significant inequality in a country as it hinders the formation of buyer groups. Therefore, if Bangladesh can reduce inequality, its growth will be more sustainable, said Dr Mustafizur Rahman, honorary fellow of the Centre for Policy Dialogue (CPD), today (29 April).

At an event organised by the Dushtha Shasthya Kendra (DSK) in the capital, he further said Bangladesh's Tax-GDP rate is the lowest among developing countries in South Asia. "Tax evaders, loan defaulters, and money launderers are the root causes of our inequality. We must reduce this inequality."

CPD Distinguished Fellow Dr Debapriya Bhattacharya also spoke at the event, addressing the persisting inequality in the country.

In his speech, Mustafizur Rahman said, "The Vision 2041 envisions a discrimination-free society. There is a theory in economics that when a country progresses, inequality increases somewhat and then decreases. However, researchers claim that countries progressing with less inequality experience faster growth."

"We have to create quality skilled manpower to increase our productivity to survive the competition. The solution to this problem is that we need to reduce inequality. That is why the place where discrimination is born should be dealt with. It is a matter of political decision," he said.

Dr Debapriya Bhattacharya said, "If we want to change the fate of the working people of Bangladesh, we need to ensure their education, health, and social security. If we want to build a new Bangladesh, then we have to give priority to their social and humanistic strength. There will be no inequality."

He continued, "If Bangladesh has to transition to a market-based economy for its development, then it should be known that the market does not treat everyone equally. Even the state does not treat everyone equally. To reduce this disparity, it is necessary to take specific initiatives for the neglected and underprivileged people, rather than taking broad initiatives for all."

Speaking as the chief guest at the event, organised to celebrate the 35th anniversary of the Dushtha Shasthya Kendra, Home Minister Asaduzzaman Khan Kamal said, "The activities of DSK are very extensive. They are providing healthcare and employment for poor people. Here, working women are given special priority."

Chairman of PKSF M Khairul Hossain, Director of NGO Affairs Bureau (Registration and Audit) Md Anwar Hossain, Water Aid Bangladesh Director Hasin Jahan, and BRAC Executive Director Asif Saleh were also present at the discussion session among others.

On the same day, from 2pm to 5:30pm, the second session of the programme was held at the Shishu Academy Auditorium, presided over by the former president of the organisation and jute scientist Professor ABM Abdullah.