Inequality between the rich and poor broadened due to pandemic

Inequality between the rich and the poor has widened during the coronavirus pandemic, speakers said at a webinar yesterday.

The view came at a discussion on "Inequality, Poverty, Class, and Changes Attributable to Covid-19: Towards a Decent Society" organized by Bangladesh Economic Association (BEA).

At the event, Rashed Khan Menon, president of the Workers' Party of Bangladesh, a left-leaning party, said 40 percent of the population fell into the poverty trap.

The government's stimulus packages did not reach many people who are really poor, said Menon, also a lawmaker.

He said inequality has been increasing in the last four decades and most of the property of the country went to the control of a handful of families.

He also said the Gini coefficient, a measure of economic inequality, has reached a dangerous level in Bangladesh.

At the event, Pankaj Bhattacharya, president of Oikya NAP, said the rich and poor gap is a major barrier.

Mujahidul Islam Selim, president of the Communist Party of Bangladesh, stressed the need for the redistribution of wealth.

Wealthy people have become wealthier amid the humanitarian crisis, he said, adding that elimination of poverty is not possible without addressing the causes of poverty.

BEA President Abul Barkat presented a paper at the virtual event moderated by BEA Vice President Md Abdul Hannan.