Fair distribution of TCB cards can soothe people’s woes yet a bit
The recent remarks by Commerce Adviser Sheikh Bashiruddin at the “ERF-Pran Media Award 2024” ceremony have brought to light critical issues that continue to plague Bangladesh’s economic landscape.
His assertion that corruption over the past 15 years under the Awami League government has led to staggering losses of Tk 28 lakh crore — equivalent to 1.5 years of the nation’s total earnings — highlights the urgent need for accountability and reform in public institutions, which he described as largely dysfunctional.
This newspaper on Wednesday reported that while Bashiruddin commended the government’s initiative to distribute subsidised food to 10 million families through TCB cards, he did not shy away from addressing the irregularities in card distribution and dealer selection that marred the previous administration. Such transparency is essential for restoring public trust, especially in a country where the spectre of corruption looms large.
The recent hike in soybean oil prices, which has seen an increase of Tk 8 per litre, has understandably raised concerns among consumers. Bashiruddin defended this move as a necessary step to avert a potential market crisis, acknowledging the hardships faced by the public.
However, the government must ensure that such price adjustments are accompanied by measures to alleviate the financial burden on consumers. The promise to explore price reductions on other essential goods is a welcome sign, but concrete actions are needed to translate this into reality.
Moreover, the adviser’s announcement of plans to reform the Trading Corporation of Bangladesh (TCB) within six weeks is a step in the right direction. Operating with a budget of Tk 11,500 crore and only 142 staff members is indeed an “absurd” situation that demands immediate attention.
Streamlining operations and enhancing efficiency within TCB is crucial for the effective distribution of subsidies and essential goods, particularly as we approach Ramadan, a time when demand for key items like dates, chickpeas, and lentils surges.
As the government navigates these challenges, it must prioritise transparency and accountability. The public deserves to know how funds are being managed and how decisions are made, especially in light of the staggering losses attributed to corruption.
While the government’s initiatives to support families and stabilise markets are commendable, they must be underpinned by a commitment to reform and integrity.
Only through concerted efforts to combat corruption and enhance public trust, can the country hope to achieve sustainable economic growth and stability.