CPD
Under Muhith's leadership economy achieved a number of milestones: CPD
The Centre for Policy Dialogue (CPD) has deeply mourned the death of former Finance Minister Abul Maal Abdul Muhith.
"May his departed soul rest in peace. Our deepest condolences to the bereaved family," CPD said in a message.
Under his leadership as the Finance Minister, CPD said, the economy achieved a number of milestones.
"The size of the economy and national budget has also increased during his tenure as the Finance Minister."
Read: Architect of AL’s development era Muhith to be laid to rest in Sylhet Sunday
A diplomat, freedom fighter, language movement veteran, writer, and a historian, Muhith began his career in 1956 as a civil servant.
Muhith authored around 30 books on different subjects, including liberation war, economic development, history, and public administration.
For his contribution to the liberation war, Muhith was conferred with Swadhinata Puroskar in 2016.
He also actively involved himself in the environment movement and was the founder president of Bangladesh Poribesh Andolon (BAPA) established in 2000.
Muhith served as the Finance Minister three times since Bangladesh’s independence and placed the national budget for the highest number of times in the history of the country.
Food prices much higher in Bangladesh than global markets: CPD study
Centre for Policy Dialogue (CPD), a private research organization, in a study revealed that prices of different types of rice are much higher in Bangladesh than in Vietnam, Thailand and other countries.
Similarly, prices of flour, sugar, edible oil, onion, powdered milk, eggs and meat are much higher than the international market, the study said.
“Prices of essential commodities have skyrocketed in Bangladesh. But inflation in the international market is not the only reason for price hikes,” said Dr Fahmida Khatun, Executive Director of CPD.
Also read: Dishonest traders raising prices of essentials: Food Minister
She came up with the remarks while addressing CPD’s media briefing titled 'Bangladesh Economy in the changed global context', held at its office in Dhanmondi, Dhaka on Sunday.
Dr Fahmida presented two research papers on 'Skyrocketing prices amid stable inflation?’ and 'Changing global scenario and Bangladesh Economy: what should be the policy stance?’ on the occasion.
Professor Mustafizur Rahman, distinguish fellow CPD, Dr Zahid Hossain, former lead economist, World Bank, Dr Shah Mohammad Ahsan Habib, BIBM, Professor M. Tamim, Dr Tawfiqul Islam Khan, CPD’s senior fellow, among others, spoke in the program.
The speakers focused on the essential commodity prices' situation, external sector, energy and power, banking sector and budget management.
Presenting a research paper, Fahmida Khatun said that the prices of essential commodities are skyrocketing. But food inflation is controlled in government accounts, which is not matching with economic theory.
From October 2021 to January 2022, the government entity calculates inflation constant at 5.3 percent.
At this time inflation of some particular products was between 6 percent to 30 percent during that time while the inflation of food remained constant at 5.3 percent. Dr Fahmida questioned how that is possible.
Professor Mustafizur Rahman said the export volume has not grown compared with the huge import; resulting in a trade deficit of $ 10 billion.
Dr Zahid Hossain said the government budget expenditure is not growing despite surplus money.
He urged a policy to fix up energy prices in the country for sustainable investment.
For curbing inflation CPD suggested policy attentions at the government policy makers considering its more adverse impact on the vulnerable and marginalized groups.
“All available policy tools should be utilized to control food inflation, including exempting duties and taxes on essential commodities both at domestic and import levels, extending social safety net programmes and raising income tax exemption level,” the CPD said.
Stability of exchange rate must be ensured as the value of taka against major currencies should be stabilised in view of its inflationary implications.
An independent banking commission should be formed on an immediate basis to mitigate the disarrays within the sector and loan recovery should receive the highest attention.
Despite huge imports, the export did not grow. But this is not an accurate picture compared to reality. The pressure on low-income people is mounting. Non-food inflation has also risen sharply, the CPD suggestion urged to change the situation.
The need for strong market intelligence is critical as unscrupulous market players have always been active to take advantage of difficult periods, by stockpiling and creating artificial crises in the market, CPD study said.
Efficient market management through close monitoring and supervision will be critical to keep the commodity prices under control during Ramadan and beyond.
Also read: LGRD minister blames soaring prices of essentials on pandemic & war
The volume of sale of essential commodities through the open market system (OMS) should be increased. Distribution of these commodities must be managed effectively and without any corruption, so that the eligible people have access to these items at low prices.
The government should provide direct cash support to the poor, enhance social protection for low-income families, and extend stimulus to the small businesses for their survival during difficult times, said CPD.
CPD's Fahmida made member of UNCTAD’s advisory board
Dr. Fahmida Khatun, Executive Director of the Centre for Policy Dialogue (CPD), has been made a member of the United Nations Conference on Trade and Development (UNCTAD).
The Secretary-General of the United Nations has invited Dr Fahmida to join as a Member of the High-level Advisory Board on Productive Capacities Index (PCI) of UNCTAD.
UNCTAD launched PCI as a practical tool which will help member states to monitor and benchmark their progress and achievements in building new and enhancing existing productive capacities over time, and their potential to achieve the Sustainable Development Goals (SDGs).
READ: Budget implementation failure lack of available data: CPD
The PCI Advisory Board will advise UNCTAD on its research and policy-oriented agenda related to productive capacities.
UNCTAD would include, among others, the expansion of policy and institutional frameworks, further development and refinement of the methods and international standards for the measurement of productive capacities.
READ: Businesses in Bangladesh face challenges of inefficient administration, funding shortage and corruption: CPD study
The Advisory Board on PCI will work in broad collaboration with the academia, policy makers, statisticians and experts working on related programs and endeavors.
Form expert committee to review govt data: Debapriya
Dr. Debapriya Bhattacharya, distinguished fellow of CPD, on Thursday urged the government to form an expert committee to review existing data to make it correct and justify fact and figure with actual situation.
This is needed to exit from “data blindness and non-credibility of data”, he said “otherwise the policy will be prepared depend on immature data, and its effect would dangerous.”
His remarks came in a review session on “What Impact Will Pandemic Have on SDGs Delivery in Bangladesh?”, organized by the Citizen’s Platform for SDGs, Bangladesh on Thursday, in the capital.
He said without credible and updated data, policy focused on which level, for whose and where cannot be determined. As a result Bangladesh's sustainable development goals (SDGs) achieved will be given in the right point and right places.
Read: TCB to procure huge sugar, chickpea, lentil and edible oil for Ramadan supply
The program discussed the aforesaid issues and proposed tangible policy measures, particularly in view of the upcoming national budget of fiscal year (FY)2022-23.
Debapriya said SDGs achieving progress slips the target due to the effect of Covid-19 pandemic and data dearth as well as non-credible information.
The data of government entities even faces credibility problems as those consequences are not being matched with different economic and social context which needs reform first to implication of policy, he said.
Dr Debapriya, also the convener of Citizen’s Platform for SDGs, Bangladesh , in his keynote presentation, shared the findings of a study conducted by the Citizen’s Platform, which assessed the impact of COVID-19 on the delivery of SDGs in Bangladesh from the perspectives of the disadvantaged population groups.
The immediate focus must be on protecting the purchasing power of the disadvantaged people by controlling the cost of basic living and enhancing income opportunities.
The government should immediately reduce duties, tariffs and taxes to make prices of essentials more affordable and provide access to basic commodities at “fair prices” by expanding open market sales (OMS) operations of TCB.
The government should expand public works, social protection programe and food assistance and increase the tax rebates for job creation. Public resources will need to be redirected for subsidy to protect prices of electricity, fuel, food and fertilizer, stated in the paper.
Debopriya said given the resource constraint, the government will need to use public money under ADP more efficiently and accelerate investment in the rural public health system and address education loss, he said.
Read: Come and make Bangladesh your home, Hasina tells UAE investors
“The upcoming national budget of FY22-23 should be designed in the context of following recent developments which threaten to raise vulnerabilities of the disadvantaged. Overall policy approach should be towards using SDG as a framework for post-pandemic recovery by prioritizing public expenditure on education and health in view of COVID losses. Additionally, the SDG tracker should be updated urgently,” Debapriya stated.
Professor Mustafizur Rahman, Core Group Member, Citizen’s Platform for SDGs, Bangladesh and Distinguished Fellow, Centre for Policy Dialogue (CPD) discussed social protection and has demanded to expand the social safety net adequately in urban and peri-urban areas. To this end, lack of data and information is obstructing the government to reach the people in need.
Dr Ahmed Mushtaque Raza Chowdhury, Core Group Member, Citizen’s Platform for SDGs, Bangladesh and Convener, Bangladesh Health Watch (BHW), Zakir Hossain, Chief Executive, Nagorik Uddyog, Reefat Bin Sattar, Director – Programme Development and Quality, Save the Children in Bangladesh, Syeda Rizwana Hasan, Chief Executive, Bangladesh Environmental Lawyers Association (BELA), Dr Mostafizur Rahaman, Program Manager, Campaign for Popular Education (CAMPE) on Education, Khandekar Jahurul Alam, Executive Director, Centre for Services and Information on Disability (CSID) on Rights of Persons with Disabilities, Raju Bashfor, General Secretary, Horijon Eikko Parishad, Thakurgaon District on Dalit, Anisatul Fatema Yousuf, Coordinator, Citizen’s Platform for SDGs, among others, spoke at the function.
Budget implementation failure lack of available data: CPD
Speakers at a dialogue on Thursday said that the timely disclosure of accurate fiscal data is essential for improving the implementation of the national budget and attainment of the national development objectives.
They said lack of timely disclosure of fiscal data is constraining delivery of the national budget allocation and depriving the marginalised people of receiving the required government support.
The observations emerged at the dialogue titled ‘Challenges of Improving Fiscal Data for Policymaking in Bangladesh’, held in city hotel on Thursday. The Centre for Policy Dialogue (CPD) organised the programme in partnership with The Asia Foundation.
Professor Rehman Sobhan, Chairman, CPD shared his special remarks at the dialogue.
Vice Principal Dr Md. Abdus Shahid, MP, Member, Parliamentary Standing Committee on Public Accounts; Saber Hossain Chowdhury, MP, Chairman, Parliamentary Standing Committee on Ministry of Environment, Forest and Climate Change and Member, Parliamentary Standing Committee on Ministry of Planning; Kazi Nabil Ahmed, MP, Member, Parliamentary Standing Committee on Ministry of Foreign Affairs; Shameem Haider Patwary, MP, Member, Parliamentary Standing Committee on Ministry of Law, Justice and Parliamentary Affairs present as the Eminent Reflection Panelist at the dialogue.
Ranjit Kumar Chakraborty, Former Additional Secretary, Ministry of Finance; Director, Sonali Bank; and Dr Zahid Hussain, Eminent Economist and Former Lead Economist, The World Bank participated in the program as distinguished discussants.
Read: Govt to procure 6.50 lakh mts Boro paddy at Tk 27 per kg
Kazi Faisal Bin Seraj, Country Representative, The Asia Foundation delivered the introductory remarks.
Dr Debapriya Bhattacharya, Study Team Leader and Distinguished Fellow, CPD chaired the session.
Towfiqul Islam Khan, Senior Research Fellow, CPD made a keynote presentation at the dialogue on ‘fiscal data in Bangladesh issues and challenges.
Prof. Sobhan hypothesised that the quality of data would be maintained if the generated data is derived from the needs of the primary data users and policymakers.
However, the majority of demand for change in data quality comes from outside the government, which is a critical weakness as the driver of change should be from within the government.
Dr Debapriya said that fiscal data has a critical role not only from the perspectives of accountability and transparency for the development process of the country but also for policy making.
The prevailing dearth of timely delivery of quality fiscal data as per the demand may have emerged from several sources, including lack of awareness, capacity, urgency for sustainability, and absence of procedure and application.
He opined that a political stimulus would be required to bring positive changes to this end.
Dr Zahid said data regarding state-owned enterprise is crucial and reformation is needed in this regard.
“Moving forward will include providing a calendar for data release as well as for data revision, especially given that data discrepancy is unavoidable. Moreover, providing reports in a PDF format is akin to still maintaining a paper-based system. Therefore, we need to utilize an excel based platform to make data not just available but user friendly,” headed.
Read: Businesses in Bangladesh face challenges of inefficient administration, funding shortage and corruption: CPD study
Dr Shahid underscores the fact that only data driven decisions can make policymaking more transparent.
The government is carrying out many activities, but often they are not reflected in data, he said.
Saber said that data revolution is a key prerequisite for achieving sustainable development goals.
Data accessibility and transparency have always been lacking from the government end. The data producers either do not want to share or don’t have a systematic way of data collection, he said.
As elected representatives of the citizens, the MPs need to have access and take cognisance of data so that they can provide more useful and precise opinions and solutions, he added.
The Ministry of Finance must take the lead to ensure better delivery of fiscal data to aid budgetary decisions. The producers of fiscal data, particularly the Ministry of Finance, appear to be quite content with the present status quo of fiscal data.
To bring forth the much-required improvement, there is a need for a big push from the demand side, particularly on the part of policymakers, including the elected public representatives.
At present, this charge is being led by the data analysts. It was further stated that the improvement in the area of fiscal data would require considerable political will and a change in the mind-sets of core actors. Political incentives shall need to be created to bring such changes.
Cleaner, greener production cannot come at free of cost: BGMEA chief
Cleaner and greener production cannot come at free of cost, Faruque Hassan, president of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), said Sunday.
"There is a sharp disconnect between sustainability and pricing mechanisms. Supplying countries like Bangladesh have their challenges and constraints. So we need more strategic collaboration in this regard," he added.
Faruque was addressing the programme "Securing Green Transition of the Textile and Readymade Garments Sector in Bangladesh" organised by the Centre for Policy Dialogue (CPD) in the city.
Also read: BGMEA urges LGRD Ministry to repair roads in industrial areas
"Environment sits at the top of our agenda at the BGMEA and the sector at large. Bangladesh has the highest number of LEED Green factories in the world, with 157 certified by the USGBC – 47 platinum rated, 96 gold rated," the BGMEA president said.
"These green factories are equipped with all the eco-friendly features and emit around 40 percent less carbon than a conventional factory. However, we need technical assistance with regard to access to technologies, and building capacity of our human resources to embrace the green technologies and processes."
Saber Hossain Chowdhury, member of parliament and chairman of the Standing Committee on Ministry of Environment, Forest and Climate Change, attended the programme as chief guest.
Christine Johansson, deputy head of mission and head of development co-operation at the Embassy of Sweden, also spoke while the programme was moderated by CPD Executive Director Dr Fahmida Khatun.
Also read: BGMEA seeks govt support in addressing RMG sector’s challenges
Mohammad Hatem, executive president of the Bangladesh Knitwear Manufacturers and Exporters Association, Shams Mahmud, former president of the Dhaka Chamber of Commerce and Industry and managing director of Shasha Denims, Md Fazlul Hoque, managing director of Plummy Fashions and former president of the Bangladesh Employers' Federation, also spoke.
Businesses in Bangladesh face challenges of inefficient administration, funding shortage and corruption: CPD study
The Centre for Policy Dialogue (CPD) revealed in a study that the country's businesses are facing three major challenges that include corruption, inefficient administration and funding limitations.
The CPD, a think tank, unveiled the research outcome in a press conference on Wednesday at its office in the capital.
Khandaker Golam Moazzem, Research Director of CP, presenting the research paper said that 68 per cent businesses think inefficiency, corruption and funding shortage are the main obstacles for business.
Up to 52 per cent of businesses seem to think that corruption is a big challenge while 100 per cent of small entrepreneurs have to face these challenges together.
READ: CPD starts 4-day international conference on 50 years of Bangladesh Monday
The study has been tilted “Bangladesh Business Environment 2021: Findings from Entrepreneurs’ Perception Survey.”
According to the study, the three challenges have become major headaches in expanding the country's business. Apart from this, tax rate problems, inability to build skilled human resources, healthy working environment and inability to build skilled workers have also emerged as business problems.
The cost of doing business is not the same for everyone. Sixty three per cent of businesses feel that the distribution of incentive packages was weak during the pandemic period, while 42 per cent think that the country's economy is under pressure.
The Executive Opinion Survey (EOS) covered 10 issues- infrastructure, institutions, safety and security, financial system, trade and investment, competition, business operations, governance and innovation, building human capital, working and employment, and managing the economic recovery and risks.
EOS survey was conducted with lots of difficulty as the second wave of Covid-19 spread out and announced a shutdown in most of the factories.
READ: CPD for reinstating previous fuel prices
In the survey number of respondents was 73 high officials from the private companies located in Dhaka, Chattogram, Narayanganj, Gazipur and Faridpur during the period of April to July 2021. The reference period for the survey was January to December 2020.
The survey responses have relevance and are impacted through the Covid-19 pandemic.
CPD starts 4-day international conference on 50 years of Bangladesh Monday
The Centre for Policy Dialogue (CPD), a think tank, begins a four-day international virtual conference on Monday to mark the 50 years of Bangladesh's independence and 100 birth anniversary of Bangabandhu’s Sheikh Mujibur Rahman.
The conference will illustrate the socio-economic changes along with the challenges of Bangladesh through 20 papers in 8 sessions. Scholars, researchers, university teachers, development workers from the UK, Norway and other European countries will join the Bangladeshi scholar conference and present papers.
Also read: CPD for reinstating previous fuel prices
CPD’s executive director Dr. Fahmida Khatun in press briefing disclosed the program schedule. CPD’s distinguished fellow Professor Dr. Rounaq Jahan also spoke in the virtual briefing.
The South Asia Programme of Cornell University will co-sponsor the virtual conference titled "Fifty Years of Bangladesh: Retrospect and Prospect."
Also read: Demographic data very important in vaccination efforts: CPD
SMEs, women-led enterprises need access to stimulus loans
Speakers in a workshop on Sunday emphasized the need for extending the stimulus loan repayment schedule and relaxing the existing conditions to accelerate the disbursement of loans in the SME sector.
They also laid emphasis on a transparent policy ensuring inclusiveness and transparent policy response so that SMEs and women-led enterprises can tackle the Covid-induced challenges.
Read: Stimulus loan for CMSMEs: Disbursement may miss Dec deadline
They said the pandemic shock is still there in the business, and the price hike of raw materials has created a problem for the small enterprises to grow as the product price at the consumer level is not increasing.
The workshop, held at a city hotel, focused on 'Covid-induced stimulus packages for SME's and women-led enterprises exploring research policy interlaces.
Local Government, Rural Development and Cooperatives Minister Tazul Islam said the government always appreciates research work and innovations for financial inclusion.
The government is implementing various stimulus packages with a special focus on the CMSME sector so that it can rebound soon, he said.
Read: 50 years of Bangladesh: FICCI to unveil 3 growth drivers on FDI
CPD research director Dr Khondaker Golam Moazzem presented the keynote paper on the topic.
Swedish Ambassador to Bangladesh Alexandra Berg Von Linde said Bangladesh women entrepreneurs are doing well and their country will continue to support them.
Kazi Nabil Ahmed, member of the parliamentary standing committee on Finance Ministry, was present at the programme moderated by CPD Executive Director Dr Fahmida Khatun.
'COP26 outcomes crucial for climate-vulnerable countries like Bangladesh'
The outcome of the 26th United Nations Climate Change Conference (COP26) is crucial for climate-vulnerable countries like Bangladesh, said Centre for Policy Dialogue (CPD).
In less than two weeks, world leaders, government officials, negotiators, and representatives of the private sector and civil society organisations are going to attend the COP26 of the United Nations Framework Convention on Climate Change (UNFCCC).
CPD and the International Centre for Climate Change and Development (ICCCAD) jointly organised the virtual dialogue "Bangladesh's Expectations from COP26" Sunday to shed light on the expectations from the Conference.
Dr Fahmida Khatun, executive director of CPD, and Professor Mizanur Rahman Khan, deputy director of ICCCAD, made presentations at the dialogue.
The study pointed out that the least developed countries (LDCs) are the worst victims of climate change vulnerability. Moreover, the ongoing pandemic has put enormous pressure on climate-vulnerable countries.
In Bangladesh, annual average temperatures increased by 0.64 per cent in 2018, which was 10.20 times faster than the annual average temperature increase of 0.06 per cent in 1961.
Due to floods, Bangladesh is expected to incur losses equivalent to 1.5 per cent of gross domestic product (GDP).
Given these critical consequences, Bangladesh has an active interest in the outcome of COP26.
Five specific agendas are critically important for Bangladesh.
First, ensuring the commitments of major carbon-emitting countries to limit carbon emission; second, scaling up climate funds urgently to support climate-vulnerable countries; third, ensuring the bigger share of climate fund towards adaptation; fourth, finalising the Paris Rulebook to ensure accountability; and fifth, establishing the mechanism for loss and damage.
Read: Hasina’s climate leadership lauded at CVF-COP26 dialogue