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VOL 21 NO 130 REGD NO DA 1589 | Dhaka, Sunday, March 23 2014
Posted : 23 Mar, 2014 00:00:00 AA-A+
1.0pc of people engaged in rent-seeking, control politics, BEA's public lecture told
FE Report

President of Bangladesh Economic Association (BEA) Abul Barkat said Saturday that Bangladesh is caught in the middle of poverty, inequality and disparity due to an unholy alliance of one per cent people who are engaged in rent-seeking.

"This one per cent people controls politics, power and all state machineries and gather wealth by not creating assets but taking away from the existing amount of wealth through embezzlement, misappropriation, lobbying  and many other improper means," he said while presenting a  public lecture on "Poverty-Disparity-Inequality in Bangladesh: In Search of a Unified Political Economic Theory" .

Organised by the BEA, the lecture was held at Nabab Nawab Ali Chowdhury Senate Bhaban of Dhaka University with Dr Qazi Kholiquzzaman Ahmad in the chair.

Vice-Chancellor of Dhaka University Prof Dr Arefin Siddique spoke as the chief guest. Khondakar Ibrahim Khaled and Dr M Moazzem Hossain Khan attended the lecture as discussants.

Dr Barkat said whether legal or illegal, as rent-seeking does not create any value, such type of activities can impose large costs on an economy.

Abul Barkat said only home grown development policy can extricate Bangladesh from this vicious circle.

"Home grown development policy would ensure that people of the republic of Bangladesh are the owners of the country and they should be empowered to make laws which would oust this one per cent from the politics and policies," he added.

Stressing the need for taking coordinated initiatives in ensuring equality in the society, Vice-Chancellor of Dhaka University Prof Dr Arefin Siddique said equal partnership of male and female can help a lot to remove disparities from the society.

"Equal partnership of male and female is needed to remove existing economic, social and other inequalities from the society," he said

Dr Siddique underscored the need to remove poverty by taking coordinated and comprehensive initiatives for ensuring equality in the society.

"In order to establish a corruption-free society, we need to remove corruption from our thoughts and we should build a positive mindset," he added.

Khandaker Ibrahim Khaled stressed the need for eradicating existing economic, social and other inequalities as well as disparities of the society through equal partnership of all people.

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