Since parting their ways 45 years ago, how are Bangladesh and Pakistan faring on economic and other fronts? Most development indices put what was East Pakistan before its emergence as an independent country in 1971 ahead of today's Pakistan. Highly significantly, international recognitions to Bangladesh's better performances have followed one after another. In the latest ranking of nation brands by London-based Brand Finance, this country has been placed in the 47th position as against Pakistan's 54th out of a total of 100 countries under review. What is particularly significant is that Bangladesh's brand value was estimated at $ 144 billion whereas it was $ 93 billion for Pakistan. The fact that the deltaic basin that opted for its own identity has earned its place among the top 10 fastest growing nation brands, recording a 25 per cent increase in 2015 over the previous year.
Clearly, independence has proved crucial for the progress of Bangladesh. The pre-liberation Bangladesh part was poorer, less industrialised and lagging far behind the western wing of then Pakistan on almost all counts except in the size of population. But the demographic factor was considered a bane rather than a boon then. Today Pakistan's population has more than quadrupled whereas it has doubled here over the same period. What alchemy has worked behind the phenomenal progress of Bangladesh then? One of the noticeable facts is the military rule or its absence. During the military regime, Bangladesh recorded a low gross domestic product (GDP) growth but in case of Pakistan the reverse was the case for a certain period. But ever since Bangladesh has come out of military rule, the GDP growth started outpacing Pakistan.
The GDP growth rate on an average of more than 6.0 per cent over the past decade has its reflection on social indicators as well. In terms of female education, reduction of child mortality, health and sanitation as reflected in the life expectancy now estimated at more than 70 years, Bangladesh has not only overtaken Pakistan but also its bigger neighbour India. All these have been possible because of the political aspiration the Bangalees harboured in their bosoms for a sovereign nation. The rise in brand value of this nation could not come as a more propitious tiding. It is a sure indication of strong confidence in the country's economic and industrial capability to deliver.
That this nation has earned such accolades is really heart-warming. But still there is a feeling that it is yet to exploit its full potential. Had investment been compatible with the entrepreneurship of its people - many of whom are now in their third generation, the GDP growth would have been in the double digit. Also corruption and bureaucratic lethargy have proved to be a stumbling-block on the fast track of progress. Bangladesh has come a long way from where it began but its advancement could be even more spectacular if only the people at the helm of affairs took care of governance and encouraged people's creative energy through facilitating the process of productivity
