Decentralise governance
It is easier to solve Dhaka's multifarious problems by switching the current political philosophy or approach to the mode of governance of overcrowded Bangladesh (density of population is one of the highest in the world: nearing 1,000 persons per sq km).
Why not decentralize political power -- go for provincial governance. At least the issue should be examined at length in public forums, to formulate a clear enough public policy on the issue.
Keep minimum subjects at Dhaka (take the good points of federal governance), and let the provincial capitals (the present divisional HQs) handle the rest of the traffic. At present it has become sort of obligatory for all levels of society to come to Dhaka, or settle in Dhaka.
The prices would tumble down, traffic jams would be solved automatically, and the population of the city go down. Why cling to too much concentration of power? Many countries in the region have provincial governance. Why the good points cannot be applied in Bangladesh? Our politics is still passing through the preliminary stages of maturity -- we started without the experience of central governance experience, the alternate assembly sessions in Dhaka was a diversion movement from the rulers in the West (Pakistan).
There are very few incentives for investment outside greater Dhaka [outside the natural raw materials sites], so let the provincial capitals grow and compete with Dhaka's monopoly. With low density of population (say, a desert area) one central government is enough.
The question is: why come to Dhaka to get some work done? First, go to the district HQ, then go to the provincial capital, leaving visit to Dhaka as a last option.
It is the political approach to the national problems which needs attention at the first step, before going into the technical details. The politicians never broach this subject of diversification and decentralisation, because the top is indifferent to the issue. One reason of the apathy is the entrenched dynasty rules, dominated by two political parties, who are hostile to each other in and out of season.
Look at the pathetic state of the JS (parliament) -- the opposition never worked under any regime. Politics attracts attention for the wrong reasons (making a quick buck, misuse of power and position, lack of discipline at the bottom tiers; and lack of positive and visible leadership at the top tiers).
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