Remittance has long been an integral part of our economy. It plays an important role in the country’s economic development and thus helps reduce poverty and improve the standard of living. As a consequence of the government’s various initiatives coupled with oil price hike in middle-east countries and the rise of Taka against dollar, the tempo of the country’s remittance inflow has remarkably speeded up.
Remittance inflow reportedly stood at USD 14.34 billion during the January-November period this year and World Bank (WB) envisages that the country’s remittance inflow will hit a record high of about USD 16 billion by the end of this year. It needs no emphasizing that such a rise in remittance inflow would be more of blessing for the country but at the same time we must keep in mind that there is room for further progress which certainly requires thought-full intervention from all the departments concerned.
Remittance is perceived to be a driving force for fostering a country’s economic growth. Apart from reducing poverty remittance helps us to start new jobs and organizations by providing capital. But it is dissatisfying to note that larger portion of the remittance comes only from ten countries and that often puts Bangladesh in dire straits. Hence, more stress on finding new work destinations should be given in no time.
In this regard, we need to encourage more European countries to take our workers. And in order to do that, we must ensure that they are skilled and have basic knowledge about foreign languages as well as adaptation abilities. We must ensure proper training for foreign jobseekers before sending them abroad. Hence, emphasis should be given on the need for grooming and employing skilled hands and diligent personnel in abroad. Authorities concerned should therefore open more vocational training centres and invest more in the education sector. Also there is a need to facilitate the bank system for migrant workers so that they can easily send home their hard-earned money.