Many sectors yet to heal pandemic bite: Experts

Readymade garment and remittance are two leading engines of economic growth while agriculture is also playing a pivotal role but many sectors are still under the pandemic shock, according to experts and economists.

However, the stimulus packages announced by the government has helped many sectors revive from their downturn, they observed.

The observation came at a seminar titled “Innovation in monetary policy, economic development and five-year plan on the celebration of birth centenary of the Father of Nation Bangabandhu Sheikh Mujibur Rahman”.

Bangladesh Institute of Bank Management (BIBM) hosted the seminar on Monday.

Former adviser to the caretaker government Hossain Zillur Rahman was the chief guest at the event while Bangladesh Bank former governor Atiur Rahman, Institute for Inclusive Finance and Development Executive Director Mustafa K Mujeri were, among others, present at the seminar.

BIBM Director General Md Akhtaruzzaman chaired the programme while its Professor Prashanta Kumar Banerjee made the welcome address.

Speaking on the occasion, Hossain Zillur Rahman said readymade garment sector and remittance are leading the growth of economy while agriculture is also playing a key role. However, many sectors have lagged behind due to the Covid-19.

“There have been drastic changes in the rural areas but we have not sufficient information about them,” argued Zillur.

In his address, Atiur Rahman said it is encouraging to note that the government has introduced a number of stimulus packages focusing on agriculture, SMEs and informal unorganised sectors to keep these small and medium entrepreneurs functioning.

“If well implemented, these packages can certainly help the economy not only afloat but also keep it vibrant at the end of the day,” he observed.

Professor Barkat-e-Khuda said the high growth is being achieved due to inclusive activities of the banking sector.

The academician held that Bangladesh has shown special success in alleviating poverty, which is now the role model in the world.