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The private sector has nearly 81 percent contribution to the overall economy of the country, said participants in a discussion on Wednesday.
The government should provide all necessary facilities to the private sector to gain the target of 8th Five-Year Plan successfully, they said.
The Institute of Chartered Accountants of Bangladesh (ICAB) organized the discussion on the 8th Five-Year Plan at CA Bhaban in the capital.
The 8th Five-Year Plan covered all aspects of the economy successfully but there is a challenge for the country for their implementation of them due to ongoing worldwide economic crises.
Former Governor of Bangladesh Bank Atiur Rahman said Bangladesh faced a big challenge at the beginning of its journey. But the country overcame it with the visionary leadership of the father of the nation in his first five-year plan.
The current five-year plan set a big target for the welfare of the economy even during the worldwide economic crises. The plan set a target to generate employment for 1crore and 13 lakh people, he said.
The private sector will contribute 81 percent to the economy. So all necessary facilities must be ensured including proper environment.
“We have a big plan but the challenge is to implement it. We must overcome the challenges to move the country forward,” he added.
State Minister for Planning Shamsul Alam said Bangladesh gained a robust success in all indicators of economy including per capita income, literacy rate, average life expectancy and women empowerment.
“We have gained all the achievements as the country has been run in a planned way. The 6th, 7th and 8th five-year plans were both investor-friendly and dynamics ones. We made the plans that suited the changes and necessity.”
“We carried out nearly 26 researches to make 8th five-year plan in a participatory way with the opinion of 2500 people. I want to say that the 6th plan was good, 7th was better and 8th plan is the best ever made in Bangladesh.”
The government took different initiatives to tackle the inflation including increasing bank rate and reducing tax where it is necessary. For example, tax of rice and diesel has been reduced.
“We are doing what is needed to combat inflation. I think the situation will come to stability with the remittance coming significantly and export increasing. Right now our aim is not to gain growth but we want to fight the challenges and keep the inflation under control,” he added.
Former Chairman of the National Board of Revenue (NBR) Dr. Muhammad Abdul Mazid and ICAB President Md. Shahadat Hossain, Ferdaus Ara Begum, CEO of BUILD (Business Initiative Leading Development) spoke at the session, among others.
