Published:  03:19 AM, 26 February 2020

2nd Perspective Plan 2021-2041 nodded

Targets include per capita income $12,500, reducing poverty rate to 3pc, extreme poverty to 0.68pc

The Executive Committee of the National Economic Council (ECNEC) yesterday approved the country's second Perspective Plan for 2021-2041 with the targets of raising per capita income above $ 12,500, bringing down poverty rate to 3percent and the extreme poverty rate to 0.68percent in 2041.

The Gross Domestic Product (GDP) growth target was set at 9percent upto 2031 and 9.9percent in 2041. The country's target of export earnings is also expected to go up at $150 billion by 2031 and $300 billion by 2041.

In the second Perspective Plan, the government has set the vision to elevate Bangladesh to upper middle-income category by 2031 and a developed nation by 2041.

Prime Minister Sheikh Hasina, who is chairperson the ECNEC, presided over the historic meeting at the NEC Conference Hall at Sher-e-Bangla Nagar in the city.

The Premier and ECNEC members lauded the government's endeavors in achieving the first Perspective Plan (2010-2021), which will phase out next year.

While briefing the reporters after the meeting, Planning Minister MA Mannan said the meeting approved the historic document for the next 20 years based on four institutional pillars which are governance, democratization, decentralization and capacity building.

He said, if the current pace of development is continued, the poverty rate is projected to slash down to seven percent in 2031 and below three percent in 2041. The extreme poverty rate is expected to fall to 2.55 percent in 2031 from 9.38 percent at present and come down further to 0.68 percent in 2041.

He said the government's vision is to ensure industrialization and structural transformation as well as exemplary change in the agriculture sector and export-oriented manufacturing industries.

"This document has been framed and approved aiming to alleviate poverty, strengthening good governance and transforming Bangladesh into a modern and digital country. Led by Prime Minister Sheikh Hasina, we all are working on this," Mannan said.

He pointed out that the NEC meeting suggested the incorporation of some missing points in the document which includes strongly highlighting the message that Bangladesh is a welfare-oriented country and the role of the expatriate Bangladeshis.

Prospects of the fourth industrial revolution and ICT, putting in more focus on promoting agro-processing industries, skills development, agriculture, education and rural poverty eradication and more researches will also be included.

He said Prime Minister Sheikh Hasina lauded this document and highlighted a couple of issues, including giving due emphasis on creating necessary tourism infrastructures at the selected areas of the country.

Mannan said the government now intended to utilise own resources to implement development plans although earlier major dependency was on foreign financing.

Member of the Planning Commission (General Economics Division) Dr Shamsul Alam said this is a dream document for the country which gives a guideline where Bangladesh would stand socio-economically over the next 20-year period.

He said the yesterday's ECNEC meeting underscored the need for reducing the income inequality and rich-poor disparity among citizens in the country.

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