Govt allocation for agri sector must be increased to sustain economic growth, save rural economy, speakers say

Speakers at a seminar today (31 May) called for more investments in the agriculture sector, highlighting it as a priority sector. 

At a pre-budget seminar titled "Increasing Government and Private Allocations for Investment in Agriculture" held at the Economic Reporters Forum Auditorium by the Bangladesh Krishak Majur Samhati, its president Dewan Abdur Rashid Nilu said, "To sustain economic growth in Bangladesh and save the rural economy, government and private allocations for investment in the agricultural sector must be increased."

He, along with others, also urged the government to establish an Agricultural Commodity Price Commission to ensure profitable prices for crops.

He said although the contribution of farmers to the economy of Bangladesh was still very important, no major coordinated initiative had been taken to protect the interests of farmers and labourers in the last 53 years. 

"The opportunity to reform the agricultural sector with the aim of establishing a society without discrimination again through the July mass uprising must be utilised."

Speaking at the event, prominent agricultural economist Dr Jahangir Alam Khan said, "The agricultural sector has made the biggest contribution to the economic development of Bangladesh. If we review the development of the last 54 years, it can be seen that there has been a growth rate of 3% every year, which is much higher than the global average."

Former agriculture secretary Anwar Farooq said, "Investment in agriculture must be increased, but only through the private sector because 90% of the agricultural sector is now in the hands of the private sector."