‘No visible step against Covid-induced class changes’

The Bangladesh government has not taken any visible step to address the drastic changes that are taking place in the country’s class structure due to the Covid-19 crisis, President of the Bangladesh Economic Association Prof Abul Barkat said on Wednesday.

More than one crore people have migrated from urban to rural areas in the country due to loss of work and income during the pandemic’s peak, he pointed out.

Prof Barkat made the remarks while addressing a press conference held to convey details about the two-day 21st biennial conference of Bangladesh Economic Association – set to begin on Friday. Economists from all over the country will join the programme.

The theme of this year’s conference is “Impact of Covid-19 Pandemic and Human Development.”

Addressing the press brief, Prof Barkat further said, “The inequality is dangerously increasing, and multidimensional poverty is rising too. On one hand, a handful of people are building mountains of immense wealth. On the other hand, poor people are getting poorer and poorer.

“There has been no visible progress in changing the fortune of the poor. Due to the Covid-19, the class structure of Bangladesh has changed drastically. Inequality in all spheres of society has reached its peak.”

Barkat also said, “The poorest people in the informal sector, which are the most affected amid the Covid-19 crisis, did not get any incentive and assistance. Pressure is being exerted to extend the short-term interest rate on incentives given by the rich.

“Ordinary people are in dire straits due to the rising commodity prices, there is no accountability in the banking sector, democracy is

crumbling, and freedom of speech is declining. Such a situation could lead to a major crisis in the country in the future.”