If per-capita loan is BDT 28000 what is debit?


It is quite clear that Bangladesh’s Gross Domestic Product is over Tk 800000 crore and total foreign debt stands at Tk 400000 crore. But it is quite unclear how many corrupt people possess how much undisclosed money. It is as vague as the ever-rising number of alcohol takers in Bangladesh. In one estimation the undisclosed money amounts to Tk 400000 crore or in another estimation by Prof Anu Muhammad the black money is as much as the total GDP itself. Then our question don’t our ten crore workforce or voters work all these years to earn anything? The total GDP is estimated thus: total consumption plus investment plus government expenditure plus (total export minus total import).
There is an untiring media campaign in Bangladesh to let its citizens know what the per-capita loan is. That sounds very disheartening for the citizens, heartening for politicians-turned-businesses or businessmen-turned-politicians, and consoling for the contractors. The breaking news on the total amount of foreign loan — four lakh crore taka in 2012 —defuses tension and possibility of mass upsurge against corruption for ministers, covers up the ‘necessary’ misappropriation of govt officials mainly up from the joint secretaries to the prime minister. The news channels help hush up the young generations from attending Tahrir in Egypt or Pearl Square in Bahrain or Occupy Wall Street in Jukuti Park in the US or Shapla Chattar on 05/05/13 in Bangladesh. The media outlet financed by prime beneficiaries of Bangladesh’s GDP growth and stricken by the fear of just transparent and welfare Bangladesh failed or deliberately didn’t cover the 20-thousand strong joint forces of police, BGB, RAB operation in the wee hours of Monday to quell the blockade/sit-in of Hefajat-e-Islam of Sunday. Often airing of such news by radio or television channels that per capita loan

Bashundhara Shopping Mall: How posh can be a shopping mall in a poor country. Internet Photo

Bashundhara Shopping Mall: How posh can be a shopping mall in a poor country. Internet Photo

now stands at Tk 28000 gives people the impression that Bangladesh has developed all these years mainly by dint of the loans. So there are many things to loathe against the capitalist republic since 1971 and their pet pundits who constantly guard the pillars of present-day economic system.
Now our question to the aforesaid persons if we have debit where is our credit. How much per capita land we are entitled to? How much arsenic-free ground and surface water of rivers flowing from the Himalayan Range and others we are supposed to drink and use? How much quality air we are entitled to breath? Who pocket the real share of Gross Domestic Product or Gross National Product? Where does the dividend of Bangladesh’s development go?
What about the Foreign Direct Investment (FDI). How much FDI has made inroads into Bangladesh national debt since 1971? If you look at the FDI you will find it has got negative contribution to our economy. There is a widespread perception that none of the FDI receiving countries in the world has ever benefited from such investment.
Suppose there are 50 thousand crorepatis in Bangladesh now as the number of billionaires had been rising at a rate of four to five thousand a year since 2001 when BNP took over power, thanks to Bangladeshi democracy and capitalism of its own version. How can the loan and number of billionaires rise simultaneously?

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Border killing toll reaches 1048


A Pointer to Disparity in Development between India and Bangladesh.  Photo: Internet

A Pointer to Disparity in Development between India and Bangladesh. Photo: Internet

Thakurgaon: Indian Border Security Force (BSF) shot a Bangladeshi youth dead on Thakurgaon border on July 15. The deceased was identified as Ebarot Hossain raising the BSF killing toll to 1048 since 2001. Before this killing the force killed one on Chuadanga Jibananagara border. Human rights organization Odhikar regularly keeps border killing count. The deceased, was a teenager (15) son of Mojammel Hossain of Muradhar village in Haripur upazila, who along with seven friends went to India to enjoy vacation, according to UNB reports.
Chuadanga: Indian Border Security Force (BSF) shot a Bangladeshi youth dead on Chuadanga Jibananagara border on Saturday. According to human rights organization Odhikar border killing count is raised to 1047 since 2001. The deceased was identified as Imran Hossain (19) who was the cattle trader from Hariharanagara village.
Border Guard Bangladesh (BGB) of Chuadanga 6 and the local sources said, the four cattle traders along with Imran went to Medenipur midnight on Saturday by the border pillar 63. When they entered 100 yards inside the Indian border, the Putkhali BSF members opened fire on cow traders. During the fire Imran was riddled with bullet in the face and chest and died on the spot. The three others could come back his dead body.
BGB Vice – Captain Major Mehdi Hassan confirmed the authenticity of the incident and they have lodged protest with BSF.
Before the killing two other Bangladeshis were shot dead on Putkhali border at Benapole in Jessore on June 12. (Post on why Bangladeshis go to India or why Indians are working in Bangladesh soon…)

Alternative to Charity is Charity Only


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Developed needs no Donation but the Underdeveloped need it

Developed needs no Donation but the Underdeveloped needs it

Hedonism juxtaposed with humanism shows the striking contrast in the modern human character. The belief that pleasure is the most important thing in life (hedonism) and a system of thought that considers that solving human problems is the most important thing (humanism) is quite contradictory. Though capitalism tirelessly tries to teach tiny tots to be hedonist, a large section of common people shies away from the theory to accept humanism. They grieve at the sorrow and plight of the poor and the destitute and approach to help them with their savings coupled with good intention which is a must for charity works. But the term ‘charity’ is missing from the Oxford Dictionary of Economics.
Poverty is sure to rise if savings by billionaires of any society swells substantially. The higher the savings or concentration of wealth the higher the poverty. But the higher the charity the lower the savings because the more the charity the more the parity in a society. When the poor people save they die, the mid-income group save they develop capital for investment but when the rich people save they destroy the society by being mercenery and selfish.
According to Oxford Dictionary of Economics ‘The excess of income over consumption. This is a way of acquiring asset; for the economy as a whole it is the only way, since while individuals may gain or lose assets through inheritance or gambling, these cancel out on aggregation.’ So it is obvious that poor people who have not ‘the excess of income over consumption’ can’t save anything. A poor man can’t survive let alone save for investment.
Savings spells death for the destitute because they are poor and fail to earn their daily bread. If they, in spite of their poverty and pecuniary crisis, resort to savings they will be malnourished. Naturally an under-fed or half-fed man or woman can’t save anything for future investment. If they try to do so it will be self-denying and tentamount to suicide. Malnutrition will certainly end up in different health condition and the situation persisting for years will complicate the condition, leaving them to suffer from debilitating diseases and morbidity, even risking death.
Savings by the rich people turns equally dangerous for the society or country they live in. Aparently the act of savings is a good habit but if rich section of the society stops charity works and giving away alms, food, shelter to people in need it will spell destruction for the fabric of the society. Who doesn’t know that capitalism sows the seeds of its own destruction. Small capital is eaten up by the bigger capital while the biggest corporate will put an end to big capital. So in this system today’s comparatively richer people will be rich one soon, rich people will be higher middle class, and someday lower middle class only to end up being poor. It will be tentamount to denying of the society which comprises its poor section and the disabled.
Though savings are dangerous for the poor themselves and for the society if it is practised by the rich people but it is always good for the both high and low middle-class people. They can save if they try heart and soul like Della of the Gift of the Magi. O’Henry depicted Della’s — a representative of lower middle class —savings delineately. She saved penny by penny by bargaining with butcher, grocer and others vendors. Though the short story writer didn’t explore why the salaries of the professionals like Della’s husband Jim had been diminishing day by day like those of crores of underpaid job holders, we can assure you of mindset of the present day corporates.
Charity plus good intention is in proportion to savings. A household usually puts into saving what remains in excess and give away a portion of the savings when it feels to feed or help a poor neighbour in crisis. So concentration of wealth by the rich is in proportion to poverty in a society. In absence of parity in wealth distribution begging goes up in a society and impoverished people particularly the disabled are prone to beg. A 2012-report on begging shows about 26 per cent of the handicapped people have been forced into begging by their own family members, says a study on street beggars. It also says there is a correlation between poverty and begging among physically disabled beggars. The study titled “Poverty, Disability and Street Beggars: Reflections from Dhaka City” also shows that beggars spend about 53 per cent of their income to arrange food for their physically able family members. If the policy makers want to heal this wound of the society they must harness the profiteering mentality of the industrialists who thrive on the bank loans in our country.
Since the inception of Bangladesh in 1971 there was a few research on the contribution of khairat, dan, sadakah, sadakatul fitra, jakat, donation and charity to the society at large. The corporate social responsibility (CSR) activities also need to be put under scrutiny in comparison with the wealth amassed by the local or multinational corporates. Though till 1996 as many as 77 articles and 27 books were written on these topics there is space and scope for more research. The place of charity or donation was deleted when the present-day economic system of the world in 1956. Till 2003 every household in the US on an average spent 1.7 in charity but the data on the contribution of charity in Bangladesh is missing from the data generator BBS.
But roughly there are four lakh mosques, 27000 educational institutes, thousands of orphanages, waqf states and temples and churches — most of them are established by people’s charity. Though there is no wage board or service rule or day off or other benefits for the domestic helps in our country. Same is the case with the several lakh mosques — their Imams and Muezzins and Khadims. Over ten lakh people are provided all through the year by the mosques and several lakh more during the Ramadan for khatam tarabih in a country infested by high unemployment. Both the contribution of quomi and mosques are never reckoned in raising the literacy rate of Bangladesh.
Usually a practicing Muslim gives away at the rate of Tk 2.5 per cent of their yearly savings ( over 7.5 tolas of gold or 52 tolas of silver) at the end of a fiscal year. The direction of jakat is enshrined in the holy Quran repeatedly often juxtaposed with the direction of salat. Apart from giving away mandatory charity (jakat) a good Muslim is not supposed to refuse a help seeker. And a good Christian is supposed to spend one tenth (tithe) of his income for religious causes. So charity is humanity and there is only alternative to charity is charity. For parity in wealth distribution it is a must. Without charity the humanity will fall and fail.