As Millennium Development Goals (MDGs) are expiring by the end of this year, taking place are Sustainable Development Goals (SDGs). This declaration from the United Nations, aims at ensuring better collaboration for international development. Among the seventeen proposed goals of the declaration, ending poverty everywhere in all its forms tops the chart. Our achievements in alleviating poverty worldwide are praiseworthy, though so much remains to be done. With MDGs, our target was to cut the 1990 poverty rate in half by 2015. As the most recent estimate suggests, in 2011, 17% of people in the developing world live at or below $1.25 a day, which was 52% and 43% in 1981 and 1990 respectively. If we consider it from the perspective of world population, we can say just over one billion people lived on less than $1.25 a day, compared with 1.91 billion in 1990, and 1.93 billion in 1981. This spells some serious progress.
Nevertheless, the same was not experienced when it comes to higher poverty lines. Besides, poverty has decreased all over the world, though the success rate is uneven; East Asia saw a dramatic 70% reduction in extreme poverty, while South Asia’s decline in extreme poverty was 25%, which was 61% only three decades ago. As the economic center of gravity shifts from the west to the east, countries like China outpaced the USA. Our neighbor India is also considered an emerging super power these days. Over the period, what happened in Bangladesh was also encouraging.
As World Bank reviews suggest, more than 15 million Bangladeshis have moved out of poverty since 1992. Still we have a long way to go to punch out poverty. How can we do it? Time has come to ponder over some extraordinary strategies to fight back the menace. Social business holds a key to success in doing so. It comes in where traditional business models, philanthropy or issues like Corporate Social Responsibility (CSR) fail. The strategy is to reinvest the earned profit: the investors get back their invested amount only, no dividend is given beyond investment money. This issue of ICE Business Times sheds light on the prospects of social business. We have interviewed two companies, success of which is highly encouraging for new entrepreneurs. As you read on, you will find out how these companies, breaking the stereotypes, writing new mantras of success by developing businesses, have social innovation and responsibility imprinted in their DNAs from the beginning.
The issue also deals with the 44th National Budget that was presented on 4th June, 2015 in the National Parliament by Abul Mal Abdul Muhith, the Finance Minister of Government of Bangladesh. As soon as the budget was placed, many ambivalent remarks were made on the crucial aspects of the budget. When some market experts opine that the budget contains big talks but less to show or devoid of directions, almost everyone applauds it as pro-business. Regardless of the usual criticism and appreciation, what stands out to be extraordinary in this budget is the proposal of child-budget for the first time in the history of Bangladesh. The continuation of gender budget also earned a token of appreciation.
Amidst the constructive criticisms and approbation, let’s hope that the government will make headway towards a new fiscal year with refined strategies and successful implementation towards the ultimate goal of achieving middle income country status by 2021.
