Remittance growth slows
Inward remittance by wage earners for the current fiscal period is expected to touch the figure of US$ 10 billion. The figure is considered to be huge for an economy like Bangladesh. Despite its enormous impact on economy, there arises a question concerning its proper and productive utilization. Available records speak that this huge amount is only supporting the payment of import bills for the goods/commodities that can never be called essential or productive.
We have a new governor of Bangladesh Bank. He is known as an economist, educationist and above all a man with versatile qualities and experiences. To accord “congratulations” on his being appointed as governor is not enough but we seek Almighty Allah's blessing for his success to play a significant role in all fields of economic activities.
About 50-60 lakh Bangladeshis are presently working abroad and remitting about US$ 10.00 billion per year which represents lifeblood to the earning of foreign exchange. It is not palatable when we see that this hard earned foreign currency is being spent in unproductive ways.
Our expectation from the new governor is unlimited but it will be his great achievement if the causes of the poor wage earners are looked into prudently by initiating and adopting the following measures for proper utilization of their money, so that they can have a better life with return derived from their hard earned investment.
A) Certain portion of wage earner funds may be utilized for construction of Padma bridge with a package of incentives to be offered against the investment by the wage earners.
B) Wage earners' funds may be utilized for construction of flyovers, monorail, underground railway, especially in Dhaka and Chittagong with govt assurance that the wage earners will get dividend out of the investment and that dividend will be paid from the earning of tools.
C) Instead of depending on donor countries and agencies, the wage earners' funds can be injected into the construction of power projects/ water supply projects, international hotels etc.
D) Special zones for the tourism industry at Cox's Bazar, Rangamati, Kuakata may be developed with the funds with attractive incentives to the investors.
If such activities are started henceforth, the country will be benefited in many ways.
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