The Role of Banking Sector in the Industrialization of Bangladesh
Bangladesh will have within a decade a sizable industrial sector where manufacturing will account for at least 25% of the GDP & at least 20% of the employed workforce. This will mean a considerable rise from the figure of 10% around which the sectors share in GDP & employed population have hovered for most of the past two decades. A vibrant & dynamic private sector especially banking sector will be the principal actor in Bangladesh’s industrial arena. The industrial sector of Bangladesh will be competitive in the liberalized internal market as well as in the external market. The industrial sector of Bangladesh shall have a dominant export orientation. The goal of external competitiveness implies the pursuit of industrialization in accordance with the dynamic comparative advantage of the economy. Given Bangladesh’s resource endowment, the principle of dynamic comparative advantage means production of labor intensive manufactures with skill up-gradation & productivity growth as its cutting edge. This however, does not preclude the possibility of Bangladesh having a niche high tech industrial sub sector that may be externally competitive. In order to further strengthen the country’s industrial process, the govt. has identified SME’s as a priority sector & as the driving force for industrialization. With a view to providing entrepreneurs with assistance and finance in the establishment of SME’s, bank play an active role. Global Warming & Its Mitigation Measures
→ Global warming refers to the increased temperatures of earth’s surface, including land, water & near surface of air. → It is the rise of the average temperature of earth’s atmosphere & oceans since the late 19th century 7 its projected continuation. → Since the early 20th century the Earth’s mean surface temperature has increased by 0.8®C, with two thirds of the increase occurring since 1980. → It is primarily caused by increasing concentrations of greenhouse gases produced by human activities such as the burning of fossil fuels & deforestation. Mitigation measures of Global Warming
→ Reducing greenhouse gas emissions is perhaps the most fundamental way to address global warming & decreasing the rate at which fossil fuels are burned is critical to that effort. → Development of clean energy, including wind, solar & geothermal energy, has immense potential to reduce the amount of coal & oil burned to power electrical generating plants. → More sustainable transportation options, such as much transit & alt-fuel vehicles, will also reduce the amount of greenhouse gases in the atmosphere. → Even individual efforts, such as lowering thermostats in winter & using energy efficient light bulbs, will help to address global warming. → Most climate researchers also stress the immediate need for large scale, international policies to address the complex causes & effects of global warming.
Population Growth & Food Security
→ The main challenge for achieving & sustaining food security comes from continuing growth of population. → The progress in reducing population growth, from 3% per year at independence to about 1.3% now, is laudable. But the population is still increasing by 1.8 million every year. → Rice production has to increase by 4 lack tones every year to meet the need for staple food for the growing population. The increase in domestic production at that rate would be difficult due to several supply side factors. Further Increase in Production is Getting Limited for the Following Potential Factors: → The arable land has been shrinking by 0.6% every year due to demand from housing & industries, & infrastructure, as well as loss of land from river erosion. → With global warming & climate change, another 1/6th of the land may be submerged with brackish water due to rising sea labels. The on-going climate has made the monsoon more erratic, raising risks in food production. → The soil...
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