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The variety of folks with out meals safety in Bangladesh elevated 2.4 % to five.2 crore between 2018 and 2020, discovered a latest research by the UN’s Meals and Agriculture Group (FAO) — because the Covid 19 pandemic worsened entry to meals throughout final couple of years. Now the scenario has additional deteriorated as a result of Russia-Ukraine Battle.
Russia and Ukraine play a considerable function in world meals manufacturing and provide. Collectively, they supply 19 % of the world’s barley provide, 14 % of wheat, and 4 % of maize, making up greater than one-third of world cereal exports. The worldwide fertilizer provide can also be extremely concentrated, with Russia because the lead producer. Provide chain and logistical disruptions on Ukrainian and Russian grain and oilseed manufacturing and restrictions on Russia’s exports can have important meals safety repercussions all over the world. That is very true for some 50 international locations that rely upon Russia and Ukraine for 30 % or extra of their wheat provide. A lot of them are least developed international locations or low-income, food-deficit international locations in Northern Africa, Asia and the Close to East. Many European and Central Asian international locations depend on Russia for over 50 % of their fertilizer provide, and shortages there might prolong to subsequent yr. FAO has 5 coverage suggestions to deal with this case: hold world meals and fertilizer commerce open; discover new and extra various meals suppliers; assist susceptible teams, together with internally displaced folks; keep away from advert hoc coverage reactions; and strengthen market transparency and dialogue.
The Asia-Pacific Regional Overview of Meals Safety and Vitamin in 2020 confirmed that greater than 40 % of the inhabitants within the area can’t afford a nutritious diet. This, in flip, contributes to a number of burdens of malnutrition in a area which in any other case has proven good financial development even through the Covid-19 pandemic. International locations within the area together with Bangladesh have to do extra to make sure that all residents can entry wholesome diets by way of a considered mixture of nutritious crops and sources of protein equivalent to meat and fish. Bangladesh must be justifiably pleased with having achieved the Millennium Growth Objectives (MDGs) and guaranteeing availability of secure and nutritious diets shall be important to attain the Sustainable Growth Objectives (SDGs).
The overall dimension of the funds for 2021-2022 fiscal yr was 603,681 crore taka. 2 lakh 14 thousand 681 crore taka was funds deficit. 1 lakh 1 thousand 228 crore taka was borrowed from exterior sources to fulfill funds deficits. Then again, 1 lakh 13 thousand 452 crore taka was borrowed from banks and monetary establishments.
Bangladesh has not been but in a position to increase the variety of taxpayers over 10 million. The tax internet must be additional enhanced as a substitute of accelerating the quantity of taxes, in line with economists. On the identical time it must be famous that Bangladesh’s economic system has been shaken by a commerce deficit of 9.09 billion {dollars} which is highest within the nation’s historical past. We have to increase our exports and make one of the best of our efforts to curtail import payments to maintain our economic system. These factors have to be highlighted and emphasised within the upcoming funds for 2022-2023 fiscal yr. Bangladesh’s banking sector is inflicted with defaulted loans of round 2 trillion taka together with written off money owed and mysterious loans. Corruption and irregularities in banking and monetary sectors pose grim threats to the nation’s economic system.
The federal government ought to execute uncompromising measures to streamline banks and monetary establishments and to strengthen the nation’s banking system.
The story is kind of the alternative as we speak than it was in 2009. Again then, Bangladesh was grappling with persistent load shedding, nearly at each alternate hour even within the capital metropolis of the nation.
The overall put in capability of the ability sector was a meagre 4,942 MW, excluding captive technology techniques put in by the industries. All sectors of the economic system have been struggling as a consequence of the erratic energy provide.
Inadequate funding over a protracted interval and really excessive transmission and distribution losses have been on the coronary heart of the causes that plagued the ability sector.
Fortunately, because the incumbent authorities took workplace, the outlook of the sector began to expertise speedy modifications. As a direct resort, the federal government opted for fast rental energy vegetation, based mostly on liquid fuels, to ramp up the general energy technology capability of the nation.
Whereas the quick-fix technique of the federal government was costly and the economic system was uncovered to exterior worth shocks, imputed to rising imports of fuels, Bangladesh ultimately did nicely in financial efficiency.
The GDP development price of the nation over the past decade, excluding the Covid-19 interval, was hovering round 7% and even registered a formidable 8.15% in 2019. As totally different stories substantiate, amongst different components, the enhancement of electrical energy technology capability has been an influencing issue for financial development.
Bangladesh has lately declared 100% electrical energy entry within the nation. The feat is spectacular as we’re nicely forward of the worldwide goal of accomplishing 100% electrical energy entry by 2030, set out in Sustainable Growth Purpose Quantity 7.
The load shedding and energy outages have considerably decreased, due to the put in energy capability, which is now over 22,000 MW, excluding captive and off-grid renewable power techniques. Total transmission and distribution losses have declined as nicely. But, the sector just isn’t devoid of challenges, that are totally different from those we had a decade in the past.
Whereas the capability of the ability sector was enhanced to propel financial development, guaranteeing entry to electrical energy and assembly the rising electrical energy demand of various sectors, the demand aspect couldn’t hold tempo with rising put in capability.
As an example, industrial electrical energy demand has not risen in line with expectations. Current industries, reportedly, financial institution on their captive technology models as a result of lack of reliability of the grid electrical energy. Growth of the transmission and distribution sides has additionally not been fast sufficient.
Nicely, folks in rural areas have connections to the nationwide electrical energy distribution system, however they face frequent energy outages as usually reported in numerous media. Due to this fact, the nationwide electrical energy grid has a surplus capability past the reserve margin.
Notably, towards the put in capability of over 22,000 MW, the nationwide grid has up to now served the utmost demand of 13,792 MW, representing fairly a very good quantity of surplus along with the usual reserve margin.
As demand is low, some energy vegetation function at very low capacities, substantiated in varied stories. The capability cost, because of this, is affecting the efficiency of the ability sector and this has been a pattern for the final couple of years.
The relentless efforts to make sure energy provide have moreover affected the power safety of the nation. The nationwide grid is now extra depending on imported fossil fuels than ever earlier than. Coupled with this, demand for LNG imports is on an rising trajectory, which may also have an effect on power safety. And the reliance on imported fossil fuels has made the ability sector of the nation susceptible to exterior shocks in latest instances, attributable to the value volatility of fossil fuels within the worldwide markets.
Nonetheless, because the entry to electrical energy is now 100% within the nation, there’s a sure stage of surplus energy technology capability and total electrical energy demand won’t enhance in a single day, the time is now ripe to spearhead efforts on enhancing power safety fairly than solely energy safety.
One of many conduits to enhance on the power safety entrance may very well be using the photo voltaic potential of the nation. As industrial rooftops might accommodate photo voltaic techniques of a number of thousand MW, measures must be taken to encourage trade administration to make the most of their rooftops accordingly.
Though the land is scarce for implementing massive scale grid-tied photo voltaic initiatives within the nation, it will be logical to establish all out there lands that may very well be used for grid-tied photo voltaic initiatives and thus decide the utmost potential of solar energy within the nation with out affecting agricultural land.
These out there lands may very well be earmarked for potential photo voltaic initiatives within the foreseeable future. Alongside this, agro-photovoltaic techniques may very well be inspired. Likewise, exploration of our native gasoline ought to stay a key part within the power sector planning to offset our staggering stage of dependence on imports.
To bridge the hole between technology capability and demand, the reliability of grid-based electrical energy should be elevated to draw industrial enterprises. Extra work shall be completed on the distribution aspect to ship uninterrupted electrical energy to the folks of rural areas. Within the medium to long-term, electrical energy demand will clearly rise and as such, efforts for power effectivity on the demand aspect ought to proceed.
The current pattern of the ability sector should change in keeping with our imaginative and prescient to be a self-sufficient nation. All of the inefficiencies, be they on account of surplus capability, capability cost or rising imports of fossil fuels, should be minimized to make the nation enterprise aggressive.
Lastly, as acknowledged earlier, the sufficiency in energy technology now requires motion to give attention to power safety. As issues stand, we can’t be capable to totally depend on our native power sources, however the rising deployment of low-cost photo voltaic power, exploration of our native gasoline and enhancing power effectivity would certainly attenuate our reliance on imported fossil fuels within the years to return.
We’re at current engaged on the instigation of 4th Industrial Revolution whereas fifth Industrial Revolution has come off in some components of the world. The 4th Industrial Revolution stands for introduction of related units, knowledge analytics and synthetic intelligence applied sciences. Younger technology should make themselves conversant in the core options of metaverse.
Then again, the fifth Industrial Revolution shall be targeted on the cooperation between males and machines, as human intelligence works in concord with cognitive computing. By placing people again into industrial manufacturing with collaborative robots, staff shall be enabled to offer value-added duties in manufacturing, resulting in mass customization and personalization.
Remittance and readymade clothes (RMG) are two pillars on which the economic system of Bangladesh stands. Remittance from Saudi Arabia has dropped by 21% through the latest months. Remittance from UAE has declined by 41%. Remittance from United Kingdom has decreased by greater than 15%. Remittance from Qatar has gone down by round 10%. Remittance from Malaysia has nosedived by practically 55%. Bangladesh earns round 44 billion {dollars} yearly by way of remittance and exports.
The training system of Bangladesh must be additional modernized. Digital lessons must be made extra accessible and more practical. All instructional establishments of Bangladesh have been closed for round two years attributable to Covid 19 pandemic. Throughout that point an enormous variety of college students, significantly within the rural areas, have dropped from their lessons. Many feminine college students even fell victims to baby marriage throughout that point.
The Digital Bangladesh program has caused revolutionary modifications in Bangladesh. Digital applied sciences have simplified and expedited folks’s lives throughout Bangladesh. Nonetheless, the training sector must be additional uplifted with the inclusion of digital mechanism. The loopholes of forms must be urgently taken care of.
Whereas concluding, the English translation of some traces from Bengali poet Sukanta Bhattacharjee might be quoted who wrote in one in all his poems, “The world has turned prosaic within the realm of starvation, the complete moon appears like a scorched bread”.
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