Financial Express print this

Govt criminalising country's economy, speakers tell AL seminar


Criminalisation of economy as well as politics and emergence of militancy during the BNP-Jamaat alliance government have pushed the country's trade and industry sectors on the verge of ruin.
Speakers at an Awami League (AL) organised seminar made the allegation in the city Sunday, reports UNB.
They said prospect of country's development that means industrialisation is in bad condition as the country's economy has also been trapped in criminalisation.
The seminar titled "crisis in country's trade and industry sectors and way to overcome it" was organised as a part of opposition AL's series of anti-government programmes.
Presided over by former industries minister and AL presidium member Tofail Ahmed, the seminar was addressed, among others, by AL General Secretary Abdul Jalil, presidium members Mohiuddin Khan Alamgir and Motia Chowdhury and former education minister AHK Sadek.
General Secretary of the Bangladesh Economic Association Abul Barakat presented the keynote paper at the seminar.
"Trap of economic criminalisation has increased effective demand of political criminalisation and the second has made the first unfettered. Such criminalisation is barrier to development," Barakat told the seminar.
Barakat mentioned that politics and state policy was being controlled by criminalised rulers, hand in consequences, owners of polluted capital even grabbed the national parliament.
"Profession of 83 per cent Members of Parliament (MPs) is business, but nobody knows what their business is. Bribe, pressure, threat, repression, allurement… these things have become influential criteria of country's power politics," he added.
Barakat said people's confidence in those in politics and running state policy was decreasing day by day, as the politicians are no more the "role model" for the public.
Barakat alleged that criminal groups in country's economy and politics had plundered 75 per cent of foreign aid worth Tk 2,000 billion (2,00,000 crore) in the last 24 years, causing widening the gap between rich and poor.
The criminals have created a vicious circle in the economy predicting Tk 700 to 750 billion of black money per year or one-third of national income, Barakat said adding that criminals smuggle out Tk 350 to 400 billion per year.
Abdul Jalil said Awami League in its tenure had been successful to create an environment of investment in the country, but during the present government the country has been branded for the fourth consecutive year as the most corrupt country in the world.