Three of the country’s leading economists urged to put emphasis on agro-based industrialization in the wake of the global economic downturn and coronavirus epidemic.
They made the call while participating in a web seminar titled ‘Industrialization: In Search of a Decent Bangladesh’ organized by the Bangladesh Economic Association on Saturday afternoon.
The economists participating in the seminar were: Dr Kazi Khaliquzzaman, Chairman of PKSF Palli Karma Sahayak Foundation and Dhaka School of Economics, Dr. Shafique uz Zaman, former chairman of the Department of Economics at Dhaka University and Prof M Moazzem Hossain Khan, former chairman of economics department of Rajshahi University.
The sixth part of the 13-part discussion session was held on the theme of Professor Abul Barakat’s recently published research book ‘Socio-Economy-State on the big screen: In search of a better Bangladesh from the catastrophe of the virus’.
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Dr Kazi Khaliquzzaman said that, “I agree with what Abul Barakat has said in his book that everyone will have equal ownership of natural resources. We need to go back to agro-based industrialization to maintain the balance of nature to avoid the adverse effects of climate change. ”
Referring to the benefits of agro-based industrialization, Professor Shafiq-uz Zaman said, “It will increase the prices of agricultural products. Farmers will get more money. Farmers’ purchasing power will increase. We have to remember that farmers are both producers and buyers of industrial products. ”
He also added, “High growth and employment do not go together. We have to think about how to increase production without cutting workers. We need to expand the internal market, create diversified agricultural products and increase investment in agricultural research.”
Referring to Professor Abul Barakat as an ‘unconventional economist’, Moazzem Hossain Khan said, “He termed the current industrialisation in the country as catastrophic and recommended 15 solutions to get out of it.”