Thursday 28th of March 2024
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Headlines : * Rain with temporary gusty wind likely over Country   * 3 die as bus hits auto-rickshaw in M`sing   * 15 ferries, 20 launches to ply on Daulatdia-Paturia route during Eid   * Six houses gutted in Rangamati fire   * Baltimore divers recover 2 bodies from harbor after bridge collapse   * Bangladeshi youth shot dead by police in US   * Govt to import 50,000 metric tons of onion from India   * Bangabandhu`s independence proclamation history was distorted after 1975: PM   * Dhaka Metro Rail operations to continue past 9 pm from Wednesday   * Jatri Kalyan Samity demands to extend Eid vacation by 2 days  

   Editorial
Rich Get Richer – Even In COVID-19
  Date : 28-03-2024

Bangladesh at the moment represents a classic study on how the elite can bring a country to its knees, more so in a crisis. The latest manifestation of this is the COVID-19-induced economic adversity. Once again the elites stepped up their demands for incentives and concessions in a country where three-fourth of the labor force is contractual employees and daily wagers. The majority of the population lives on daily, weekly, or monthly payments. The past few weeks have seen nearly all large and medium-sized businesses clamoring for tax waivers, low policy rates, release of tax refunds (rebates, subsidies), and elimination of import restrictions. They have been doing this throughout the country’s history, and displayed few qualms in peddling it even during this unprecedented global crisis.

Out of the nearly 75 million labor force, 32 million (56%) are vulnerable; roughly 43 million (76%) are working without any formal contract, says a daily Business Recorder editorial.

The Ehsas relief package for about 12 million therefore pales in the face of the enormity of the problem. But “if the government is to cover all those with minimum wage (Rs17k/month), the requirement is Rs1.3 trillion per month,” says the editorial.

A major chunk of the Rs1.2 trillion stimulus package is for business support, with only Rs144 billion earmarked for the aforementioned 12 million households for four months.

Ironically, and sadly, empathy for the poor gets lost in the maze of relentless demands by exporters, retailers, and industrialists, with little word on how and for how all businesses intend to retain and pay their workers. Official data suggests that in case of continued restrictions at least 15 percent, i.e., 11 million of the labor force face the specter of joblessness.  The so-called “smart lockdown” therefore appears to be driven more by these stark economic considerations for the 75 million low-income, daily-wage workers and shopkeepers, than by a situation that as of mid-April looked relatively in control. Compliance and enforcement will remain an acute  challenge and thus require continued advocacy on how to keep the deadly virus from rampaging through Bangladeshi society.



  
  সর্বশেষ
Several dead in coach crash on eastern German motorway
Twisted magnetic field observed around Milky Way`s central black hole
Rain with temporary gusty wind likely over Country
3 die as bus hits auto-rickshaw in M`sing

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