A Post Mortem of Bangladesh Economy and Finance,2012

2012 started with positive news in thus far because the trial of war criminals thinks about. Prof. Golam Azam, imagined to be the most creator of the killing of Bengalis' throughout the Liberation War, was taken in by the police. He was before long indicted and also the trial was current. As for the ICT it's finished the trial of Saidee, and is probably going to deliver its judgement before long. sadly, an argument was created regarding ICT Tribunal-1 once it had been unconcealed, by the social scientist, that the Chairman of the judicature had been concerned in discussing the trial with another person outside the court. 

 A discomfiting news for the state was that of a unsuccessful try of a coup within the army. However, it was, luckily, nipped within the bud whereas still within the conspiracy stage. 

The Supreme Court delivered a landmark judgement once it dominated in its full finding within the historic case on the Seventh modification to the Constitution that declaration of law was Associate in Nursing act of treason against the state. However, we have a tendency to may have evaded the judiciary -- general assembly row. It started with a comment of the Speaker within the House on that a supreme court decide passed a ruling terming it seditious. It crystal rectifier to statements and counter statements, and also the MPs eventually career for the legal instrument of the aforementioned decide. even handed handling of the problem by the Speaker prevented the matter from going out of hand.

In the diplomatic and bilateral front, the foremost crowning accomplishment for BanglaDesh was winning a landmark finding at the International judicature for the Law of the ocean, that sustained claim to 200- nautical-mile exclusive economic and territorial rights within the Bay of geographical area rejecting the claims of Burma.

We had quite few things to feel happy regarding within the economic front.

In spite of the worldwide downswing, that had caused strain on the country's economy and finance too, and through that several alternative countries had experienced  even down slop in their economy and finance, Bangladesh achieved a GDP growth of 6.4 %. actually BanglaDesh was among the highest 5 within the list of nations achieving the best GDP rate of growth last year. world rating agency Moody's found variety of positive aspects of Bangladesh's financial condition -- steady economic and finance movements, a positive industrial sector, steady exchange and bank interest rates, and also the momentum in reforms, to call a couple of.

Although there was a slump within the overseas employment sector within the early a part of the year it picked up later and remission reached a brand new high of 12.885 billion USD up to Nov that was foretold to succeed in 14 billion USD by the year finish. 

The RMG sector was within the news for over one reason. It witnessed a big growth in export and there's additional excellent news for it. And this happened in spite of the various limitations and hindrances, as well as hartal, shortage of power and electricity, and workers' unrest. It fetched within the region of 20 billion USD and is probably going to rise, in step with consultants, to around 45 billion within the next 7 years i.e; 2020. The Ready made Garments sector gained worldwide concentration in Nov once a devastating hearth during a garment manufacturing plant caused the death of 111 staff. A government inquiry unconcealed that the fireplace was Associate in Nursing act of sabotage, however didn't absolve the house owners of the responsibility for the deaths. it's feared that fitful disturbances and poor operating conditions in several factories might have an effect on the massive prospect within the RMG sector.

In the agriculture and food sector we have a tendency to had reached close to autonomy. However, at the first a part of the year 2012, a probably dangerous state of affairs of worth of rice/food grains going out of management was averted by the timely market intervention of the govt through OMS and import of rice. 

In the power sector, even so reservations regarding the rental power policy that had caused fuel worth to increase, power output enlarged significantly, however couldn't match the ever-increasing demand. The insufficiency was felt within the urban areas throughout the gathering season within the summer, a state of affairs that the individuals within the cities had borne fain. The fuel worth was jacked up thrice within the course of the year, and that we hear the govt was considering another hike early 2013. 

A troubling trend has been the problem of grant to numerous sectors. Reportedly, energy and power sectors has surpassed agriculture and social sectors in obtaining grant, which, economists aver, might hurt the marginalised individuals through the hikes in worth of essential product. And this was terribly evident within the market place. 

If the economic front, was one thing that one may take some comfort in, the political front saw a ratcheting of negative political impact. The opposite party of the country  continued  to boycott the parliament house, and also the political programmes that wasting because of military action within the finish of 2011 was revived with additional vigour from the beginning of 2012. 

The issue of however future parliamentary election was planning to be control had dominated political discourse and also the opposition activities the whole 2012. All the opposition activities had been predicated on this explicit issue, except towards the latter a part of the year once each the BNP and Jammat assumed a hostile angle, that wasn't to be seen til now, once the Jamat-e-Islami enclosed the discharge of the beneath trial wrongdoer jointly of the explanations for career hartal. 

At the start of the year one noticed  a degree of toning down of BNP position on the problem of caretaker government (CTG) once it declared its temperament to speak on the matter in any forum. And nice expectations were generated from the meeting of the BNP crystal rectifier by Islamist Zia with the Honourable President. However, unfortunately each the BNP, that stressed on CTG and not the European Union to run future election, and the AL, stuck to their rigid stands. 

The first of many BNP programmes, during this instance a 'grand rally', in mid-March just about saw a hartal obligatory by the govt, that in its effort to foil the rally had caused a virtual standstill of the country. Despite the employment of the whole state machinery and also the AL cadre to thwart the rally, and also the capital being place just about beneath besieging, the BNP union a well attended rally. 

The upsetting side was to visualize the ruling party cadres become appendages of the law imposing agencies, a trend that had continued  throughout the year. The recently appointed home minister's decision to the BCL and Jubo League to resist Jamat and Shibir cadres had further more incentive to the party appendages for humoring in unbridled violence, the last of that was the killing of Bishwajeet WHO was mistaken for Associate in Nursing opposition activist.

What stunned everyone was the fulminant amendment within the angle of the Jamat, WHO resorted to offensive the law imposing agencies. the actual fact that such incidents occurred in several places and at a similar time indicates that the actions were strategically and had explicit motive. shocking too was the apparent helplessness of the police against the Jamat and Shibir assaults. Apparently, the actual fact that a finding on Saidee case was probably before long had created them resort to violence so as to foil the trial. 

The month of Gregorian calendar month saw a ratcheting of violence by the Jamaat and also the 14-Party alliance in imposing hartal. The four programmes witnessed excess violence destruction of personal and material possession and deaths. 

It would not be wrong to partially attribute the opposition violence to the government's policy of to not permit political area to the opposition, as proven by the actual fact that any effort by the opposition to bring out an illustration or rally was shifting by the police. and through each hartal one saw the BNP leadership cloistered within the party workplace by the police the whole day. the problem was combined by the AL career its cadres to counter the opposition programmes.

The CTG issue can hog politics within the next year conjointly. The terribly sane pronouncements from AL and BNP from time to time, for the requirement to dialogue, were scuttled by the exchange of vitriol between them. With the BNP saying its intention to accentuate its movement against the govt and also the AL vowing to air the streets until future Independence Day, the prediction at the best is one in all terribly unsure dénouement. 

Although the country saw zero activity of extremists or covert teams, the final condition of law and order remained a lot of to be desired. Political or implemented disappearances and additional judicial killings by the law imposing agencies had drawn worldwide criticism. Happily, incidents of crossfire deaths reduced terribly considerably throughout the latter half the year. however status abduction like Ilyas Ali's and murder of Sagar and Runi stay to be resolved. Reports of varied rights teams of home and abroad have solely borne out our performance within the Human Rights front. 

Grameen Bank continued  to be within the government focus and within the news too, and also the Bangla Desh Nobelist continued  to be forgotten by the govt, evident from his absence in state functions. and also the PM's suggestion to nominate him because the Wb president should are seen as a misanthropical joke. In a noticeable arrange to clip the wings of the Bank the govt approved a proposal for amending the ordinance that provides additional power to the Chairman to decide on the MD of the Bank. However, Associate in Nursing MD is nevertheless to be chosen.

The year sadly clad to be year of scams. The Transparency International report solely bears out our poor performance against corruption and our effort to determine transparency, opacity and honesty within the activities of public and personal establishments. Even the minister had to acknowledge that there was corruption at the upper levels of the govt. 

The approach the Padma loan issue has clad thus far, the command having filed cases against seven persons, as well as 3 Canadians, provides the impression that the govt has caused a awfully vital national development programme to suffer simply to safeguard one person. and also the command has done all it will to alter the problem. One isn't sure at this stage whether or not the loan can undergo or not.

The share market scam had a severe impact on the monetary sector, with the exception of forcing a couple of tiny investors to require their livelihood. Despite the suggestions of the inquiry committee the govt has not taken any action against the allegedly reason. and also the finance minister's comment that they're too hot to the touch solely proves guilt of some politically connected within the scam. 

Banking scams had surpassed all previous records, each in terms of the degree of cash siphoned off and conjointly within the variety of banks concerned within the scams, the most important of that was the Sonali Bank-Halmark scam. To high it all, the govt doesn't have any plan of over Tk.2,000 large integer taken as loan by a awfully very little illustrious business house by a awfully tiny branch of the bank. 

The Destiny scandal has place an issue mark on the operate of multi-level firms. the administrators of the businesses having ultimately accepted that tree plantation theme was so a swindle, that ripped off an outsized variety of poor investors. it's appreciated that a lot of of the dirty cash of the corporate might are siphoned off outside the country.

On the diplomatic front we have a tendency to had 2 status visits, each within the month of might.

The North American country Secretary of State paid a visit to Bangla Desh once she signed the joint Statement on US-Bangladesh Partnership Dialogue. And with the exception of career on the PM she conjointly met the leader of the opposition, professor Yunus and Sir Abed. the primary ever US-Bangladesh dialogue was control in Washington stressing on cooperation on regional integration. In Gregorian calendar month Bangla Desh and North American country control their first-ever security cooperation talks in national capital. of these indicate that despite the Yunus issue and hour state of affairs in Bangla Desh North American country can move ahead. 

The then Indian minister, currently the Indian President, visited Bangla Desh, for essentially 2 functions. One was to awaken shut the joint celebrations of the a hundred and fiftieth birth day of Noble Laureate author Rabindranath Tagore, and also the second was to judge the standing of implementation of the agreements within the Manmohan-Hasina joint declarations of 2010 and 2011. However, little or no progress has been created by Bharat to follow through its a part of the agreements. The visit was conjointly to convey the message to the political parties that Bharat wasn't oriented  to any explicit party in Bangla Desh. Khaleda Zia's Bharat visit evinced keen interest within the public however solely misanthropical comments from the ruling party. That visit may need dispelled the perception in Bharat that BNP was Associate in Nursing 'anti-Indian' party. 

Bilateral relations between Bangla Desh and Burma witnessed a degree of tension caused by the Rohingya issue that increasing up because of anti-Rohingya activities within the Rakhine state of Burma. BanglaDesh came beneath international pressure to permit refuge. 

One hesitates to predict however things would evolve in 2013. As we have a tendency to bid farewell to 2012 we have a tendency to hope that 2013 will definitely North American countryher higher news for us. we have a tendency to actually hope that the potential impasse within the political front would be addressed  with disposition by the 2 major parties and also the country would be spared the repetition of October 2006 and every one that followed thenceforth.