Wastage of foreign exchange

By A Mahseen Dhaka
10 August 2005, 18:00 PM
It appears that faulty import policies result in huge wastage of foreign exchange (the dollar now creeping up to Tk 67), through import of luxury and non-essential items, as also foreign RMG (readymade garments); as seen in the posh air-conditioned shops in the a/c shopping malls. These shoppers with excess money in pocket represent less than one per cent of the shoppers in the whole country. Does it represent the ADP policy?

How our garments (including famous name brands) are inferior to the RMG made in other developing countries, when we earn about five billion dollars a year feeding the EU and the US? The shop management pleads that shoppers prefer foreign goods, just for the glamour of it.

The government should start a campaign to buy swadeshi goods, as their quality has improved much during the last 10 years. The newly rich like to show their wealth.

[I noticed the same tendency in Japan in the late 1960s in Tokyo, when I was buying Japanese products, while the Japanese seen in the shops and footpaths carried foreign cameras, pens and other items, while the shops were full of imported products).

Even furniture and fruit juices are imported, when we can export the same without much effort, as the infrastructure now has depth and breadth. The cultural monitoring is poor at the official level. What steps are being taken to channelise social trends?

The young are going West (from 50 km to 10,000 km away).

It is a mystery that when even one per cent of our huge RMG production is not released formally in the market (not factory rejects which are sold cheaply in the footpaths and Bango Bazar), the shopping culture has no swadeshi touch, while the political leaders parade the public meetings with overflowing kurtas with extra-long sleeves which cover the palms also (no blue collar business).

Political hypocrisy is not good for the nation, in the long run!