Have to look at the mineral and natural resources

Publish: 10:40 PM, September 20, 2021 | Update: 10:40:PM, September 20, 2021

Nayeem Islam Nibir
The developing countries of the world are working towards reaching the peak of rapid development. They are taking all the necessary development programs to survive in the competition of free economy. In different decades, each country has been emerging as an economic power in the world. Even a decade ago, China was hardly heard of. At present, China is considered as one of the most economically powerful countries in the world. A recent survey shows that China is far ahead of the United States in terms of economic power. In just a decade, China’s changing economic position has become an unimaginable and surprising thing for world economists. Economists predict that China will be the world’s largest and most powerful economy. China is now being called an ‘economic superpower’. China is the world’s second-largest economy after the United States, according to an IMF survey. Even then, the United States is seeking a loan from them. Chinese leaders, however, have been modest in saying that they have not really improved the way China is positioned in the world economy. The reason for their humility, they think, is that the pressure of the ongoing global recession may fall on them. Different countries of the world can reach out to them for economic cooperation.

Among the Third World countries, civil war-torn Somalia is also making steady progress. According to the CIA report, Somalia is moving forward quite well economically. The main strengths of their economy are livestock, remittances and telecommunications. Ethiopia, on the other hand, is said to be the fastest growing country in the world. Amid political instability, they are improving so much that, according to the IMF, from 2004 to 2009, the country achieved a stagnant state with economic growth above 10 percent. Now it has increased a lot. Similarly, other poor countries in Africa are now moving towards economic development. In other words, in the changing world economic competition, the poorest countries are moving towards rapid development through maximum utilization of their resources. Bangladesh is being called the ‘Emerging Tiger’ in terms of economic progress among the South Asian countries. The powerful countries of the world are often expressing their interest and positive comments on the development of Bangladesh. We can guess from the frequent visits of foreigners, reports in the international media on economic and political issues in Bangladesh and concerns about the problem. If it is not important, there is no reason to waste their time worrying so much about Bangladesh. Ordinary people can also feel that Bangladesh is moving towards continuous improvement. Especially in a country with a huge population of 16 crore compared to its size, there are almost no deaths due to starvation. Which is a wonderful event for Bangladesh. However, the fact that people do not die of starvation is an early indicator of development but not an indicator of progress.

Political stability, economic development, improvement of law and order, above all, progress in improving the quality of life of the people are considered as key indicators. There is no doubt that Bangladesh is moving forward as an economic power. The economy has been moving forward, albeit at a slower pace, amid decades of volatile political conditions. Had there been consistent political stability, Bangladesh might have become a middle-income country by now. Even then, Bangladesh’s economy has remained stable for the past decade. GDP averages 7. The GDP target for the next financial year has been set above 8 percent. The calculation of GDP is trapped in the circle of relativity. The World Bank, the IMF and other agencies and economists disagreed. Their accounts do not match those of the government.

The country’s economy is moving forward in this average. It can be said that it is moving at a lower speed than the medium speed. If it had run at a moderate pace, Bangladesh would have quickly become the number one richest country in South Asia. Presumably, we are now ahead of India and Pakistan in terms of economic progress. But our goal should not be India or Pakistan. Our goal should be Singapore, which has prospered from scratch. Even four and a half decades ago, Singapore, known as the fourth tiger in Asia in terms of economic power, had nothing to speak about. A small country of 728 sq km, the country gained independence from Britain in 1963 and joined Malaysia. In 1965, a Malaysian riot with the Chinese living in Singapore led to a 126-0 vote in Parliament separating Singapore from Malaysia. Then the Prime Minister Lee Kuan Yew lamented, “What will happen to us now! How can we live! ‘Singapore has no land, no way to cultivate. In this situation, they insist on import and export of goods to become self-sufficient. Utilizing the geographically important location, it uses the port as an important center for import and export. Grabs a market-based economy. This economy is now its foundation. Purification and export of core energy imported goods. Singapore ranks 14th in the world in terms of exports and 15th in terms of imports.

Corruption-free environment, skilled manpower, strong infrastructure and low tax rates have made it the world’s most foreign direct investment country. That is to say, a picture can be obtained from the economic activities and steps of the developing countries about how fast different countries of the world are moving forward and rising from almost zero and poorest conditions. As a developing country, we have time to think about our position and potential in a fast-moving economy. We are not zero, we have natural abundance. There is a huge population. The only requirement is to properly utilize and utilize one’s own resources. One of the foundations of Bangladesh’s economy can be the huge amount of discovered and undiscovered natural resources. Experts think that Bangladesh can be one of the economic powers in Asia by grabbing these resources. All that is needed is the perception of the government and the political parties and the proper use of resources.

The Geological Survey of Bangladesh (GSB) is already conducting various surveys. However, it is not yet possible to determine exactly how many different types of valuable mineral resources are underground. Often the news of the discovery of valuable mineral resources surprises us. For example, the discovery of valuable iron ore mines in the Mashidpur area of Hakimpur Upazila (Hili) in Dinajpur has surprised. According to GSB estimates, magnetic minerals, hematite, magnetite and limonite have been found at a depth of one and a half to two thousand feet and a thickness of one to three feet. At the same time the mine is 1,200 feet deep with limestone. The discovery of iron ore mines is very important for the country. Experts believe that this discovery will increase the prestige of Bangladesh in the outside world and will also improve the situation. Needless to say, various very valuable mineral resources have already been discovered in Bangladesh. In addition to gas, oil and coal, uranium has been found to be more expensive than gold. Other valuable minerals include limestone, hard rock, gravel, glass sand, white clay, brick clay, peat, mineral rich beech sand. Geologically, Bangladesh covers a large part of the ‘Bengal Basin’. The northern part is covered by 12 per cent sedimentary rock, the north and northeast by 8 per cent Pleistocene and the north-western, central northeast and east by 80 per cent sand, silt and mud. This means that this part of the country is known as the belt of different types of mineral resources. GSB has already conducted a survey in 42 per cent of the country’s territory, which has a bright prospect of finding different types of minerals. Experts believe that if these resources can be properly utilized and used, the face of Bangladesh’s economy will change. One of the main reasons why Bangladesh is being considered as an emerging tiger is its rich reserves of discovered and undiscovered valuable mineral resources. Bangladesh has an ample supply of uranium that the world’s superpowers have used to acquire nuclear energy. The first uranium was discovered in Moulvibazar in 1975. Then in 1985 uranium was found in Jaintapur in Sylhet and in 1989 in the Someshwari river which surrounded the Garo hills of Mymensingh. A recent GSB survey found heavy mineral and extractable uranium in the riverine sands of the Padma, Brahmaputra, Jamuna and Sylhet and Mymensingh. The GSB has collected sand from 20 meters depth at about 10 places in Padma-Jamuna and tested it. The amount of heavy minerals and chemicals to be extracted is about 9 percent. 7 percent is sufficient for commercial production. Once 1 gram of uranium is found in 1 ton of sand, it is considered commercially obtainable. Bangladesh could benefit greatly from the use of this extractable uranium. With the approval of Bangladesh to set up a nuclear power plant, there is a bright prospect of using uranium. If uranium is used in it, it will be possible to generate electricity economically and also reduce the energy crisis.

Extremely valuable heavy minerals were found in the sand of the coast several years ago. This mineral is called ‘black gold’. Experts tested the beach sand and found that it contained zircon (1 lakh 58 thousand 117 tons), rutile (70 thousand 274 tons), ilmenite (10 lakh 25 thousand 558 tons), leucoxane (96 thousand 709 tons), kyanite (90 thousand 745 tons). ), Garnet (2 lakh 22 thousand 761 tons), magnetite (80 thousand 599 tons) and monazite (17 thousand 352 tons). If we can extract and use this huge amount of valuable minerals, the position of Bangladesh will be much better economically. An Australian company has already applied to the government for permission to conduct a survey to extract these resources. In addition to uranium and black gold, more valuable mineral resources have been found, ranging from white clay for ceramics, glass sand for glass, brick clay for bricks, and peat coal for fuel. How much more valuable mineral resources are underground is still unknown. Besides, it is already known that there is endless oil and gas in the vast sea border of Bangladesh. This is proved by the abundance of natural precious minerals and the latest iron ore mines, Bangladesh is no less than any other country in the world in terms of natural resources. There is no doubt that Bangladesh can surpass Singapore if these resources can be extracted and made usable. This requires a master plan and initiative.

There is no doubt that if the valuable mineral resources that have been discovered so far can be properly extracted and made usable, a revolutionary change will take place in the economic field of Bangladesh. With one uranium, Bangladesh can go a long way. Although there is no direct use of uranium in Bangladesh, it is possible to earn a lot of foreign exchange by exporting it. If other mineral resources are added to this, it is easy to guess where the economic indicators of Bangladesh will stand. It is undeniable that we have technical limitations in extracting these resources. The planned initiatives that we have to overcome this incapacity are not being observed. We are limited to the joy of receiving news of wealth. We cannot afford to enjoy wealth. If this is the case, what if you do not discover the resources! So there is no point in dumping natural resources after discovering them. To prosper in the economy, there is no alternative but to focus on the extraction and use of these huge natural resources. If left unused, this resource will only be destroyed, to no avail. Political parties need to pay attention to this sector. Their focus should be on the economy and not on the masnad of power. In a changing world, not only the developed countries but also the developing countries are now adopting the policy of moving the economy to power with the main agenda. If the political parties of Bangladesh do not adopt this policy, no matter how much it is called Emerging Tiger, it will be just a matter of words. Will lag behind in the global economic competition. If Singapore can quickly become the fourth tiger in Asia from scratch, then we too can become the fifth tiger in Asia after Hong Kong, South Korea, Taiwan and Singapore by exploiting the vast natural resources. This requires adopting the right plan and implementing effective measures accordingly. It is hoped that this goal will be achieved soon if economic progress is given the highest priority.

Nayeem Islam Nibir is a young generation political leader and columnist in Bangladesh.
He can be reached : nayemulislamnayem148@gmail.com