Economy offsets virus impact

The country’s overall economic, business and other activities are gradually improving amid the Covid-19 crisis for the time-befitting decision by the government, according to people concerned.

As the country’s government and non-government offices and establishments have started reopening for business, maintaining strict social distancing, people are returning to their respective workplaces, and crowding shopping malls and other places every day.

On being inspired by Prime Minister Sheikh Hasina, the government and non-government institutions are determined to keep the wheels of the economy turning while keeping people away from getting infected with coronavirus.

The government has already announced an incentive package of Taka 1 lakh 117 crore to revive economic activities and production system, which is 3.6 percent of GDP. A total of 18 economic sectors including export-oriented industries, small, medium and cottage industries, agriculture, fisheries, poultry and animal husbandry have been brought under these incentive packages. However, analysts say that this facility should be ensured to the real beneficiaries.

The Prime Minister is continuously saying that an approach of collective responsibility and partnership from every society to fight COVID-19 and its impacts on economies across the world, is urgently needed.

Planning Minister M A Mannan told Bangladesh Post “The economic situation is more improved than before. People are returning to work gradually. There is activity everywhere in cities and villages. A few days ago, I went to Sunamganj district and stayed for 2-3 days. There too I have seen that the vitality of the people has increased more than before. Not like the normal time, but it increased during the corona pandemic. Businesses are opening, vehicles are running. All activities are increasing day by day. As a result, a kind of self-confidence has been created in the people, if we are careful, the risk of coronavirus infection will be less. 

Corona will be in Corona's place, through which we have to work carefully following the hygiene rules. We have to work, there is no other alternative.”

A young entrepreneur, Engineer Abdullah Al Masum, Managing Director of Nucleus Technology, told Bangladesh Post “We have taken steps so that economic activities can continue. It is unknown how long the pandemic will persist, but it has already affected the economies.

“Business has grown more than ever, worries have decreased. Personally, I think we will deal with this pandemic with a little patience and collectively overcome this disaster and business loss. We hope the government providing various types of facilities in this regard will be more expeditious, timely and small business-friendly in the future,” he added.

Razib Ahamed, a career consultant widely known as ‘Bikroybondhu’ and corporate trainer, told Bangladesh Post that in fact, the lockdown or the general holiday for which the announcement was made, did not take effect even for a day. Most people did not maintain it. Coronavirus can't be stopped by shutting down everything. At the end of the day, people will be affected. Because it is not possible for anyone to maintain 100 percent hygiene and care. We have to go out for various reasons like food collection and other necessary needs on a daily basis. Even with caution, people can be infected with corona due to slight mistakes.”

“So we need to increase the body's immunity. No medicine or doctor is needed for this. Fresh food should be taken from nature in accordance with the natural rules. We have to work hard. As a result, our body's immunity will increase, as well as the development of the individual and the country's economy. But if we sit at home without working, there will be no benefit,” he added.

Golam Mostofa, CEO of Efficient Power told Bangladesh Post, “Due to the general holiday, trade and commerce came to a complete standstill. I was extremely worried about the monthly office rent, staff salaries and other expenses. But now the income is increasing more than before. I feel at least a little bit of peace of mind. Hopefully gradually everything will be normal. That is what we want.”

CNG auto rickshaw driver Aslam Mia said, there was no work for about two months. I got out in the morning and returned home empty handed in the evening most of the days. But now the situation is better than before. I don't have to return home empty handed.”