Decline in remittances likely: The govt. should take necessary steps
Tuesday, 10 June 2008

Remittance by non-resident Bangladeshis rose by 31 percent in the first nine months of the current fiscal year from that of the same period last fiscal year. According to the report, Bangladesh Bank as saying that remittances in the July-May period this FY totaled more than 7.16 billion US dollar equivalent to 49, 060 crore taka against 5.46 billion dollar in the corresponding period of last FY. But economists fear that the rise may face a downward trend as major labour markets in Bahrain and Malaysia have banned fresh manpower recruitment from Bangladesh.

The government should take all necessary steps to convince the two countries to change their decisions. Failing which would badly affect the remittance inflow. Another debacle in getting foreign jobs is the lack of command of the language of the country of destination. The director of the Institute of Modern Languages has said that learning foreign languages could help people, especially young people, get good jobs at home and abroad.  Procedural bungling also greatly hampers manpower export to foreign countries forcing thousands of job seekers to wait for indefinite periods.

Some 14,000 workers completed all formalities for flying to Malaysia but their departure was delayed for long just because the flights couldn’t carry more than 700 people daily. This was a great loss for the country.  The debacle happened amid government’s failure to find new destinations of employment abroad in the past years. Remittances from non-resident workers are very important for the country’s economy. The government must understand we need to export manpower for earning foreign exchange. Besides, manpower export is a big solace to our unemployment problem. Hence the government should try to address the problem at the earliest.

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