This clearly manifests that the response to this crisis will have to be a shift away from self-interested and restrictive approach. Ensuring everyone’s welfare will require further strengthening international unity and cooperation. We must uphold the spirit of collective well-being more than ever before. This must be reflected in our economic measures and policies.

The pandemic has put forward a host of questions like –

1. whether integrated global economy has failed to deliver;
2. whether depending more on robust local supply chains within nation states units are better.

We will have to weigh these propositions. We will need to examine if globalisation or protectionism in trade fare better. We will have to work out what helps put in place stable international financial system.

Role of Parliamentarians

We parliamentarians must bring about new thinking to deal with post-corona crisis devastation. We have to forge effective legislations and policies to combat the emerging, complex challenges. Now is the time to prepare.

What kind of economic models would work better. For example in many countries the most immediate challenge along with saving lives has been to protect the poor, vulnerable segment of the population, those who became unemployed because of lock-downs. Lock-downs effect a large segment of population who work and earn livelihood on a daily basis. Ensuring their livelihoods and food security was critical.

In Bangladesh, Hon’ble Prime Minister Sheikh Hasina declared Stimulus Packages catering to the needs of different segment of population suffering both in the formal and informal sectors.

1. Separate allocations have been made for farmers and that includes those in agriculture, livestock, fisheries and dairies.
2. Separate allocation for payment of wages of garment labourers; wages for other labourers in construction and elsewhere.
3. Insurance coverage for doctors, nurses and health sector workers.
4. Allocation has been made to support small and medium entrepreneurs (SME).

The special trait of this Stimulus Package is that it is not a blanket coverage, based on universal income concept, as it would not get to the heart of the problem. Instead it is categorised to cater to different needs of various groups. This clearly signifies the necessity to bear in mind that in developing any economic model to respond to such crisis, measures must be different from those that serve during usual economic recessions. Giving everyone same amount of cheque as part of stimulus package will not serve the purpose. The situation of a labourer who has lost his job because of living indoors because of lack-down is the victim of this crisis and the deserving one, as he has been hard hit, in comparison to others who have been unemployed before the pandemic.

We, members of parliaments, across the board have to address the numerous challenges in the health sector that transpired during this pandemic. We have to identify those gaps and work to equip our health systems to deliver, serve and handle such situations in future. We need to train set of health service providers especially to be able to deal with pandemic situations. Health policies have to be revised to ensure better utilisation and prioritisation of budget allocation. There appears to be a need to work out the ratio of number of Intensive Care Units (ICU) in each hospital and many more.

We must pay special attention to situation of women in such difficult times and also take measures to prevent gender-based violence.

Let us all parliamentarians, elected representatives of the people, come together to address these critical challenges and find solutions to the problem. Parliaments have a major role to play. It will require united efforts to formulate what will be the political economy of post-corona crisis. Global response must be combined with the local experiences. We must learn from the best practices of each other.

Let me end with a quote from Former President of the United States of America, Bill Clinton –

“We all do better when we work together; our differences do matter; but our common humanity matters more.”