The Role of Private Sector in Respect Of National Economic Growth



  • Headed to the Private Sector by The VIKINGS are Coming!
Though the growth of the private organization covers a wide range of guiding principles, instruction, models and ethical importance for existence; privatization constitutes the fundamentally imperative factors in the midst of all the factors including the creation of markets. Predominantly, from a third world perspective, most of which contribute to a colonial legacy and an euphoric experiment with all-encompassing during the post colonial period, this policy prescription holds the theoretical magic stick. Nevertheless, the track record is somewhat glowing and it's proclaimed universal applicability has even been updated by its own underlying principle.

Despite the fact that in the analysis of policy options, the access and availability issues have been established as the primary precondition for food security, it has been further argued that price stabilization and market performance play a dominant role in determining the availability via entitlements. The works of Sen and Rapscallion are too persuasive on these issues. In particular it has been demonstrated that private sector participation through a liberalized trade regime has, in fact, helped Bangladesh to avert a food crisis in 1998. The veteran Management thinkers move forward even further to indicate that the private trade with India may develop the prospect of food security of Bangladesh as against other traditional methods. Ministry of Food also concedes that large scale private sector import of food has actually helped it to enhance food security.
The research observes that Bangladesh traversed a long way in search of food security. Starting in the early forties during the Great Bengal Famine it traveled through the agonies of another famine in 1974, in the heydays of Owners of the firms with all pervasive private food distribution system. In the eighties it took a turnaround to conform to market forces in line with the ongoing structural readjustment reform process carried out basically to meet the donor conditionality. It is also observed that by doing this Owners of Private Sector Development not only achieve efficiency in food management, but also pull the country 'out of the shadow of famine'. Trade liberalization and other favorable financial and legal-administrative regime induced in private imports of food grain, hitherto a monopoly of Owners of Private Sector Development, to complement the Owners of Private Sector Development import and helped the it to avert a potential food crisis.
The above conception somewhat testifies the advent of in Accordance with modern concept, the concept of private sector development, at least some tenets of it in the food policy of Bangladesh. Though not directly subscribing to it, the food policy has adopted the in accordance with modern concept, the concept of private sector development, if not wittingly but inexorably. Moreover, in an attempt to mitigate the prospect of famine during the post-flood situation in 1998, the Owners rightly harnessed the private sector in importing the food grain.

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