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Stop corruption to reduce inequality, economists urge

Stop corruption to reduce inequality, economists urge

Dhaka, Sept 7 (UNB) – Speakers at a seminar here on Saturday laid emphasis on stopping corruption and highhandedness of the middlemen for reducing inequality in the society.

Bangladesh Economic Association (BEA) arranged the seminar at the auditorium of Institution of Engineers, Bangladesh in the city.

“In South Asia, Bangladesh remains in the best position in human development indexes except the maternal mortality rate. But income inequality is rising gradually. It should not judge development by only the per capita income,” said former governor of Bangladesh Bank Dr Mohammed Farashuddin addressing the seminar as the chief guest.

It’ll have to ensure that the marginalised people of the society can get the benefits of the ongoing economic growth, he said, adding that it is not possible to gain true development leaving anyone behind.

Dr Farashuddin said the per capita income of some 1.15 crore people is more than US$ 4,000 in Bangladesh. But the number of taxpayers is only 20 lakh.

So, the state will have to take strong measures for an effective progressive taxation system for collecting taxes from the high-income people, he said.

BEA President Prof Dr Abul Barkat, chairing the function, put emphasised on the justified distribution of assets among the people. “The state should not only pay attention to the growth, but also to the actual development of the human.”

Director General of Bangladesh Institute of Development Studies (BIDS) Dr KAS Murshid said the national agencies will have to do work impartially on the basis of justice to reduce income and asset inequality in the society.

Chairman of Economics Department at Dhaka University Prof Dr Shafique uz Zaman and BEA General Secretary Dr Jamaluddin Ahmed also spoke on the occasion, while former BEA President Dr Mainul Islam presented the keynote paper, said a press release.