The Role of Private Sector in Pursuance of National Economic Growth

There is no denying the fact that, though the PrivateOwners of Private Sector Development intervention
Sector Development as envisaged in modern conceptin achieving food security particularly in a crisis
with regard to the concept of private sectorsituation, has been addressed by later works. In
development covers a wide range of guiding principle,particular Dorosh has demonstrated that private
instruction, models and ethical importance forsector participation through a liberalized trade regime
existence; privatisation constitutes the fundamentallyhas, in fact, helped Bangladesh to avert a food crisis
imperative factors in the midst of all the factorsin 1998. Osmani goes even further to demonstrate
including the creation of markets. Predominantly, fromthat the private trade with India may further the
a third world perspective, most of which contributeprospect of food security of Bangladesh as against
to a colonial legacy and an euphoric experiment withother traditional methods. Ministry of Food also
all-encompassing private sector during the postconcedes that large scale private sector import of
colonial period, this policy prescription holds thefood has actually helped it to enhance food security.
theoretical magic stick. Nevertheless, the track recordThe research observes that Bangladesh traversed a
is somewhat glowing and its proclaimed universallong way in search of food security. Starting in the
applicability has even been raison d'être by its ownearly forties during the Great Bengal Famine it
underlying principle.traveled through the agonies of another famine in
But specified all importance of food safety measures1974, in the heydays of Owners of Private Sector
in an overpopulated third world country, particularly ifDevelopment’s preoccupation with all pervasive
with bitter and heartbreaking experience of pastprivate food distribution system. In the eighties it
rationale, the very significant query is whether intook a turnaround to conform to market forces in
accordance with contemporary concept, the idea ofline with the ongoing structural readjustment reform
private sector development as a whole andprocess carried out basically to meet the donor
privatisation in particular does offer the remedy?conditionality. It is also observed that by doing this
Conversely speaking, can the food security be betterOwners of Private Sector Development not only
achieved through privatisation in the broader canvasachieve efficiency in food management, but also pull
of in accordance with modern concept, the conceptthe country ‘out of the shadow of famine’.
of private sector development? The answer is quiteTrade liberalization and other favourable financial and
intricate and can be found within a particular systemlegal-administrative regime induced the private sector
of administration – depending on its propensityto participate in private imports of food grain,
and/or capability to adopt or adapt in accordancehitherto a monopoly of Owners of Private Sector
with modern concept, the concept of private sectorDevelopment, to complement the Owners of Private
development. While the ‘Malthusian spectre ofSector Development import and helped the it to
famine’ looms large and the whole integrity ofavert a potential food crisis. This somewhat testifies
the political Owners of Private Sector Developmentthe advent of in Accordance with modern concept,
precariously hinges on the balance, the justificationthe concept of private sector development, at least
are to be sought in a dispassionate and objectivesome tenets of it in the food policy of Bangladesh.
analysis. Though in the analysis of policy options, theThough not directly subscribing to it, the food policy
access and availability issues have been established ashas adopted the in accordance with modern concept,
the primary pre-condition for food security, it hasthe concept of private sector development, if not
been further argued that price stabilization andwittingly but inexorably. Moreover, in an attempt to
market performance play a dominant role inmitigate the prospect of famine during the post-flood
determining the availability via entitlements. Thesituation in 1998, the Owners of Private Sector
works of Sen and Ravallion are too persuasive onDevelopment rightly harnessed the private sector in
these issues. But to the question of efficacy ofimporting the food grain.