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Nationalization of industry on the first anniversary of independence, successful or failed initiative

by endroar
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But Rehman Sobhan commented that the bureaucrats did not see the issue of appointing professionals as the chairman of the corporation. Bureaucrats were the chairmen of nine out of 10 institutions under East Pakistan's EPIDC. As a result, they wanted to maintain the dominance of government officials in the state sector as before. Bureaucrats are frustrated by hiring professionals. Rehman Sobhan said, the initial victory that the Planning Commission got, had to pay a heavy price. After that gradually the dominance of bureaucrats was established over everything. The Planning Commission began to be ineffective; At one stage the members including the chairman of the commission started leaving one by one.

However, Rehman Sobhan said, the reality was not as negative as the nationalized sector craft. These corporations did better in 1973-74 than in 1972-73; Even in 1975-76 it surpassed the pre-independence period. The perception that the sector has failed has subsequently spread to smear nationalisation. Rehman Sobhan regretted that he could have been more successful if he had executive power, because he understood the problems of the sector and gained the trust of the executives.

The point is, not only Bangladesh, but many developing countries have an abundance of national initiatives at the beginning. Be it South Korea, Vietnam, Taiwan or China, the nationalization of industries has not stood in the way of their development. Gradually the private sector has developed there. The state sector is still large in China. However, the Communist Party is in power there. The point is to ensure good governance. Needless to say, nepotism, corruption, inefficiency, lack of foresight will never lead to success.

Bangabandhu always talked about ending exploitation and injustice while fighting against the Pakistani regime. During that 1954 United Front election, there was a 21-point demand for nationalization. This was also mentioned in the 11-point demand of the students later. Bangabandhu accepted 11 points. This was also mentioned in the 1970 election manifesto. As a result, he took this decision under the pressure of the socialists or on the words of the four economists of the Planning Commission, not the issue at all.

After independence, Bangabandhu formed the Planning Commission and gave responsibility to the most talented people of the nation. But we know how that commission collapsed under the pressure of bureaucracy. Some people have to play a leading role. Establishing good governance should be strict. Bangabandhu chose those people rightly. But in the end, it did not become due to various pressures including party, administrative.

Source: 7 Characteristics of Bangabandhu's Democratic Socialism, Vinayak Sen; Our Date to the Four Professors, S. Nazrul Islam, Prothma Prakashani

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