Bangladesh is undou btedly buffeted by many icrloui political prob Ie ma. Lack of understanding between the government party and the main opposition party on the baste political orientation of the state is generating tension In the country The rehabilitation of the anti-liberation forces under the protective umbrella of the government has aroused the Ire of all those who stand for a secular, modern and pro Sresslve state. This conflict la ndlng an echo in different fields of our national life These political differences are certainly most serious and substantive and the nation will have to find answers to these fundamental political questions in order to ensure its cohesion and unity. But must it also divide us on economic issues?

Despite differences In the political field, Bangladesh is at the threshold of a historic opportunity for forging a consensus on the key economic issues facing the nation. In my view, there never was a more opportune moment to build up national consensus on economic policies. I realise that skeptics will raise their eyebrows at this statement. Perhaps even optimists will pause and ponder. Given the current political mood tn the country one is apt to take a dim view of the prospects for building up consensus. Yet the fact remains that the two main political parties today have no substantive difference in their views and outlook on economic issues. In fact, in terms of economic policies both of these parties can be characterized as 'centrist' parties. The fundamental change in the party platform of Bangladesh Awami League is the reason for the convergence of their views on the management of the country ’ s economy.

Notwithstanding its emphasis on social and economic Justice and traditional concern for people's welfare, the party has changed its orientation. It has embraced the market economic system. It has been a bold and realistic adjustment of its basic policy orientation. The party has once again demonstrated Its ability to evolve and grow with the march of time. This dynamic

Why Can’t We Have Consensus on Economic Issues?

change has removed any pc lentlal sources of conflict on the question of management of the economy between the BNP and the Awami League The ruling party, as far a* I am aware, has always supported the free market economy though It did not articulate its ideas on the subject in great detail However, despite some of Its archaic populist slogans its basic orientation was never

in question. Thus we have a situation in which the two parties have no real reason not to work together In guiding and managing the economy

The retreat of Marxism on the world scene has had Its impact on Bangladesh politics as well. The leftist parties who used to compete with one another In revolutionary zeal have lost their moorings Some of them are redefining their philosophy and others arc busy forging new partnerships In fact most of the leftists Includ ing the Communist party members will perhaps either Join the Awami League or the BNP though a few may retain their independent identity and the name. However the de mand for nationalization, which used to be heard in the past, is not likely to be a factor any more in our politics There may be differences of opinion on details but there can be no two opinion that the free enterprise and private sector will be the driving force 1n the growth strategy. The Innova five and creative power of the individual will be harnessed for accelerating the development process. Under these circumstances, is It not reasonable to expect that consensus can be developed on key economic questions?

What are the key economic questions? Economist can surely define these issues better than laymen but on the basis of my experience in different countries 1 can Identify the following as some and I stress, only some of the vital issues on which there ought to be an attempt to forge national con-

First and foremost is the development of human resources. Nothing will’ work well as long as the vast majority of our people arc Illiterate. In fact economic growth and Improvement in literacy rate seem to go hand In hand. Industrial development, modernization of agriculture, expansion and improvement of the infra-structure — all these goals will remain unattainable If we fall in the fight against ignorance and illiteracy. Labour productivity will remain low unless education and skill development begin to enjoy the highest priority.

Second, there must be consensus on the investment

policy. Investors, both local and foreign, must be assured of the security of their Investment. Of course, this is more easily said than done. For example, the law and order situation is a part of the overall sense of security for the tn vestors. Investors cannot feel secure if they arc subject to quiet extortion by hoodlums — often masquerading as followers of political parties. These thugs usually invoke the name of the ruling party though they have no true party affiliation. A liberal policy on foreign investment including Joint ventures has to be an Integral part of the investment policy. From my experience in East and South East Asia I can say that this 1s the most effective method for transfer of tech-nology

Third, there has to be a well thought out Import policy which will take Into account the legitimate interests of the local industries. Free trade should certainly be our goal but there are circumstances which call for policy modifications.

Agriculture, for example, is given some protection everywhere. I do not see arhy Bangladesh should not look after the Interests of the poor farmers while others are protecting theirs. Similarly, existing industrial units should be given a fair chance to stand up to foreign competition A level playing fieM is essential to ensure that these Industries will have a fighting chance to survive against foreign competition. In granting a degree of protection a balance has to be maintained tn order to stimulate them to Increase their efficiency and productivity

Fourth, there must be industrial peace. This is possible only if all the Important politi-

cal forces tn the country are fully committed to this goal. We must learn from the experience of others. Of course, labour has a right to fair treatment. The right to collective bargaining must be upheld. However, each Industry must And Its own solutions. A nation wide wage rate on the basis of a nation wide confrontation between the labour unions and the employers can cause distortions in the wage structure. Besides, such a procedure disrupts the economy and gives the impression of labour unrest and confrontation. This is an issue on which a consensus will go a long way tn reassuring the Investors that the nation Is ready to go into a growth mode. The policy of sterile confrontation must yield place to constructive dialogue between employers and employees. The government s proper role 1n this should be that of an objective umpire which will lay down the rules of the game and ensure all the parties observe the rules honestly and faithfully

Fifth, there must be financial discipline in the country. Those defaulters who obtained loans on political connections -- whatever be the party — must be dealt with firmness and consistency. Deviation from a policy on political grounds will surely defeat the policy itself. Same considerations will apply to the so called sick industries The government can deal with this complex question with a strong hand if there is broad based political support for Its policies.

Sixth, the question of corruption is a matter of national concern. The whole society has been infected by this virus There must be a national compact to begin counter-action at some point. The government must lead the way In another article I have said that as a starter, ministers should declare their assets that they had at the time of assuming office. This will ensure that no one will be able to accuse them when they leave office. Once this Is done the process can be enlarged and extended to all the political forces so that the cleaning up can begin at the top. Fighting corruption. In my view. deserves high priority because if people can make money easily by corrupt means it demoralizes and discourages all those who seek their fortune by honest hard work.

Finally, the stability of the economic policy framework must be assured. Rules of the game cannot change in the middle of the game. Unfortunately our experience in this regard is not very happy. How do we, for exam pie, deal with the industries In the public sector which are losing money? I am not advocating any particular course of action but whatever policy is adopted ft should enjoy a broad-based political support. Only then the government can implement the policy even if it is a tough one. The consensus

on these issues. formulated after a dialogue with the opposi tion and ethers concerned, must remain above and beyond the scope of the political prob ferns facing the country.

We have been so used to a politics of conflict and confrontation tn Bangladesh that M may seem somewhat naive to expect a bipartisan policy in dealing with economic Issues while they confront each other on political questions Given the tradition of our politics tt is certainly not going to be easy Bitterness generated tn one field spreads Hke a virus to others. But are we really incapable of rising above petty party interests? Let us all look at ourselves honestly We are one of the poorest nations on earth. The indignity and humiliation of our status as a LDC country should arouse our sense of self respect and patriotism to do something about it. The government has so far made no attempt to open a dialogue with the opposition In order to build up a consensus They have been too short sighted to grasp the opportu nlty created by the change of Awami League s economic policies. Instead, people have noted with regret that the government has been either making open attacks or Insinuations against the opposition questioning their patriotism and honesty. In fact the government is often hinting at "conspiracies" that certain political quarters are hatching against national Interests. The opposition Is blamed for thwarting the development work tn the country. The opposition in turn is constantly criticising the government for It* alleged failures. This is the language of hostility and confrontation. People do not believe these vague And unsub stantlated accusation but these statements do foul up the environment and create discord and unrest within the society. Is tt too late now for the government to turn back from the sterile and negative path that they have followed so far? Will the opposition respond positively to the opportunity? One cannot be certain but can we not, for the sake of the millions of our fellow citizens living tn abject poverty, take up the challenge?