April 24, 2024, 8:57 am

Impact of COVID-19 on Environmental Economy of mortgage valuation in BD

  • Update Time : Wednesday, May 19, 2021
  • 316 Time View

Engr. Vr. Mohammad Anwar Hossain

Bangladesh economy has evolved with transition from controlled economy to nearly free market economy through policy changes. We have poverty and unemployment as the prime issues which need socialistic approach. Environmental economics is branch of economics studies whether economic development is actually desirable or not and which could be the more radical approach to attain economic development. For valuation of assets it is necessary to study and assess the utility of the asset, whether the utility is economically viable or not as well s whether it talks to social aspects.

The unilateral decision, hoarding and un- reasonable prices will change the desired goal of socio- economical impact COVID -19 equilibrium.  Whether we agree or not but the recent outbreak of Covid-19 has speared fear in the hearts of millions of people across the globe. It is already threatening to hurt the world financial system including ours. One might ask how exactly this virus is going to affect our economy? First of all many of our manufacturers or rather industries be it garments, steel, cement, plastic, electronics, food, medicine, etc import raw materials from different areas of China. In this critical situation, our manufactures are in deep fear as when China may reopen completely. Many Chinese companies might miss the lead time to ship goods on time and that will certainly harm our local industries. Probably the uncertainness on the Chinese supplier’s side will make the cost of goods to increase. The Chinese government itself has restricted travel ban on its citizens in certain provinces. We are coming across news and videos of emptily Chinese streets. We can’t say for sure how authentic these information are, but these are certainly fueling the fear factor among people even more.

The utility of asset is another aspect which is emphasized in theory of market valuation. This aspect may lead to disproportionate creation of wealth and monopoly. The restrictions on monopolies a cannot be controlled merely by enactment.  The march towards nearness to monopoly will have to be assessed independently.  A revelation at the end, that it is vital to discard total monopoly, at any stage between lending period, increase the non performing asset.

The mortgage Valuation helps the lender as well as borrower for their personal advantage aimed at growth and stability. Mortgage valuation will need an answer to the question whether the lending addresses this problem in positive manner or not. The solution less in assessing the impact of socio economic Covid -19  policy on the mortgage valuation . The assessment could be in the term of positive or negative weightage at three counts namely

(1)   Weightage for social advantage against individual advantage.

(2)   Weightage for utility for Society against individual and

(3)    Weightage for labor incentive  policy of an enterprise against more stress on mechanization

First of all many of our Valuers & Valuation Company from different areas of Bangladesh. In this critical situation, our valuers are in deep fear as when Bangladesh may reopen completely in Investment Area.

A good per cent of our Valuer comes from Different Location of Bangladesh and naturally if goods do not arrive on time &will be affected. Bangladeshi importers of motorcycle accessories who import from that particular province will have to find alternative suppliers or wait. Small courier companies, who actually operate under the pretense of import house, are not able to import goods from China as well. Basically such companies have warehouse and Bangladeshi people in China,

Can one imagine what devastation Covid-19 might cause if it enters Bangladesh?

Let us think for a moment what the Chinese people are going through. Even though China is one-party state whose main power is their economy, they are afraid and deserve world’s help. According to the report published in this newspaper, a good number of Chinese nationals are working on several mega projects including Padma Bridge and Payra Power Plant in Bangladesh.

Besides these mega projects a lot of Chinese money is invested in our country in various trade deals. We need to make sure those investments are protected for our own interests. Banking mortgage is slow that face the The impact of Covid-19 on Bangladesh’s environmental economy of mortgage Valuation

In running Bangladesh Valuation ground some work non professionals valuers and Also Some Bank Enlistment policy different Valuation company. Now the Proper time for the banks/ Financial company of Bangladesh due to enlistment policy enclosed the Member ship of Bangladesh by The Bangladesh Survey & Valuation Companies, Firms Individual Concerns Association (BSV-CFICA ).BSV-CFICA is the premier organization of professionals representing the dominant force in the property valuation ground. The continued support of our members is pivotal in our success.

Best Regards

Engr. Vr. Mohammad Anwar Hossain

President (In Charge)

Bangladesh Survey & Valuation Companies, Firms Individual Concerns Association (BSV-CFICA )

 

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