Inequality in income, consumption and wealth distribution on rise

As the Covid-19 pandemic has pushed millions of people below the poverty line, inequality in the distribution of income, consumption and assets is rising, said Professor Mustafizur Rahman, a distinguished fellow at the Centre for Policy Dialogue (CPD).

If the problems are not properly addressed, this will leave a detrimental impact in future, he added.

Professor Rahman made the remarks while speaking as the chief guest at a virtual conference on Impact of Covid-19 on Business — The Bangladesh Perspective, organised by the Institute of Chartered Accountants of Bangladesh (ICAB) on Saturday.

ICAB President Muhammad Farooq delivered the welcome speech at the members’ conference, while ICAB ex-president Dewan Nurul Islam presided over the session.

The fight against Covid-19 cannot be carried out by the government alone, said Muhammad Farooq, adding that coordination between the public and private sectors both at the local and international levels is a must to tackle the pandemic.

In his keynote speech, Professor Dr Md Salim Uddin of the accounting department at the University of Chittagong said Covid-19 has left a profound mark on every sector.

To revive the economy hit hard by the pandemic, he said, there is no alternative to moving ahead together.