A better way to spend public funds
Tribune Editorial

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    Photo- BIGSTOCK

Loss-making state-owned banks and industries have long been propped up by the government.

The fiscal burden placed on the government has become untenable, with SOEs accumulating large amounts of debt, and many debtors skipping repayment.

There are so many better ways that public funds could be used, like education, health care, and other development projects

A number of state-owned banks, for example, have been allowed to increase expenditure, and even open up new branches while sustaining losses.

Latest numbers show that outstanding debts in the future could come to a staggering Tk2.12 trillion.

No country can afford to waste resources in this way -- certainly not Bangladesh.

Allowing SOEs and SOBs to drain the public coffers in this way is one of the reasons why Bangladesh continues to lag so far behind its economic potential.

In spite of showing tremendous dynamism in places such as our exporting sector, Bangladesh remains a low-income country, with a long way to go to reach its middle-income aspirations.

There are so many better ways that public funds could be used, like education, health care, and other development projects.

Re-directing these resources into more efficient sectors would be good for the people, good for the country, and good for the government.

There are so many ways to spend tax-payer money while lessening the burden on the government. There is also the obvious option of privatisating some of these SOEs, so that can start making profits.

The continual drain on public resources is not sustainable. 

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