Dr. Mashiur Rahman: An accomplished intellectual

 
Nobel laureate economist Amartya Sen said, "The success of a society is to be evaluated primarily by the freedoms that members of the society enjoy." When we think about building up a successful and illuminated society we cannot but refer to persons with lofty intellect and versatile attributes like Dr. Mashiur Rahman.

Dr. Mashiur Rahman is currently serving the Bangladesh government as the Economic Adviser to the Prime Minister of Bangladesh. Dr. Mashiur Rahman worked as the private secretary to Father of the Nation Bangabandhu Sheikh Mujibur Rahman. Being a close ally to Bangabandhu Sheikh Mujibur Rahman, Dr. Mashiur Rahman upholds Bangabandhu's ideology and adheres to the spirit of the Liberation War of 1971.
Dr. Mashiur Rahman also was the helmsman of Economic Relations Division (ERD). He has the outstanding and rare qualities of dealing with any situation and recovering the country's economy from woes. Dr. Mashiur Rahman deserves to be placed at the forefront of the government and should be empowered more to utilize his merit and talent for further economic growth of Bangladesh.

A shock in Dr. Mashiur Rahman's life came when his wife died of Covid 19 in December 2020. Dr. Mashiur Rahman himself was also affected with Covid 19 but he overcame the malady. Dr. Mashiur Rahman's private secretary Tapan Chakraborty, who was very close to him, died of Covid 19 too. We cannot think about Bangladesh's economy without Dr. Mashiur Raman because he is the troubleshooter of all economic puzzles. An honest and trustworthy figure like Dr. Mashiur Rahman is highly required for Bangladesh to reach sustainable development goals. Dr. Mashiur Rahman acquired higher studies in the United States and he is the founding president of American Alumni Association. I had an opportunity to meet Dr. Mashiur Rahman intimately during a business conference in Assam in October 2022. Dr. Mashiur Rahman's discourses at the program gave a clear and distinctive outline of the prospects and challenges of business ties between Bangladesh and India. I joined the conference as a special guest in the capacity of Vice President, India-Bangladesh Chamber of Commerce and Industry (IBCCI). Dr. Shah Mohammad Tanvir Monsur, Assistant High Commissioner of Bangladesh in Assam was present there too. We discovered a hidden treasure of knowledge speaking to Dr. Mashiur Rahman. I came to realize that he is an accomplished intellectual. I requested Dr. Mashiur Rahman to write a memoir on his decorated life to enrich people and the new generation.

The International Monetary Fund (IMF) is going to pay 4.5 billion dollars to Bangladesh as loans on certain terms and conditions. It is not yet clear whether Bangladesh will be able to meet the terms of reference of the IMF loans. I don't know whether Dr. Mashiur Rahman was consulted about taking loans from IMF but ideas from an enlightened financial expert like him should be always taken while making vital decisions.

Economic analysts have said that the investment climate in Bangladesh cannot be improved without thoroughly mitigating the financial perils and banking anomalies. Reportedly many prospective entrepreneurs, who seek monetary support from banks, are being deprived whereas powerful and unscrupulous clients are being allowed to get hold of big amounts of money as bank loans. Allegedly Bangladesh Competition Commission is not being able to function in the right way due to influence from the monopolists who have been dominating the financial pasture. In this way the benefits of resourceful entrepreneurship are getting spoiled, commercial sources have stated.

Bangladesh's banking sector is inflicted with defaulted loans of around 2 trillion taka including written off debts and mysterious loans. Corruption and irregularities in banking and financial sectors pose grim threats to the country's economy. The government should execute uncompromising measures to streamline banks and financial institutions and to strengthen the country's banking system. Experts like Dr. Mashiur Rahman should be put on the frontline to tackle such detrimental phenomenon.

We are at present working on the instigation of 4th Industrial Revolution while 5th Industrial Revolution has come off in some parts of the world. The 4th Industrial Revolution stands for introduction of connected devices, data analytics and artificial intelligence technologies. Young generation will have to make themselves familiar with the core features of metaverse. Iconic economists like Dr. Mashiur Rahman can lead us through these transformations.
Remittance and readymade garments (RMG) are two pillars on which the economy of Bangladesh stands. Foreign exchange reserves and remittances have drastically dropped. UN Secretary General Antonio Guterres and Prime Minister Sheikh Hasina both have predicted that there might be famine in the world in 2023. Prominent citizens have commented that economic diplomacy should be spearheaded to enhance remittance inflow and to expand export earnings. We need living legends like Dr. Mashiur Rahman to guide us through these inclement times.

While concluding, a few words of another Nobel prize winning economist Abhijit Banerjee can be quoted who said, "Corruption is a huge problem and the poor and the powerless are often its most egregious victims. But it is not an accident that the most effective bureaucracies in the world rely much more on internal controls rather than on independent ombudsmen."

Shoeb Chowdhury is a diplomat, entrepreneur, author, poet, sports organizer and Chairman, Editorial Board of The Asian Age.