ZCZC
BSS-41
BUDGET-OVERSEAS-EMPLOYMENT
Govt allocates Tk642 crore for expatriates’ welfare
DHAKA, June 11, 2020 (BSS) – With a view to facilitating the welfare of expatriates, the government has allocated Taka 642 crore for the Ministry of Expatriates’ Welfare and Overseas Employment in the proposed budget for the fiscal (FY) 2020-21.
“The government is making sincere efforts to ensure the overall welfare and equality in opportunities for expatriates, create new overseas labour markets through diplomatic efforts,’ Finance Minister AHM Mustofa Kamal said, while placing the national budget of 2020-21 (FY21) in the JatiyaSangsad.
He said the government is also engaged to make overseas job seekers skilled through various training programmes, reduce unemployment by creating overseas employment and increase remittance inflows.
Currently, over 1.02 crore migrant workers are working in 174 countries across the world and over 66.73 lakh jobs were created abroad in professional, skilled, semi-skilled and low-skilled categories in the last 10 years, the minister said.
In the budget speech he said over seven lakh people got employment in 2019 alone due to successful diplomatic efforts led by Prime Minister Sheikh Hasina.
The government also gave priority to women empowerment and took initiatives, which helps over 7.78 lakh female workers went abroad taking employment in different professions in the last ten years.
In the budget of the last fiscal year, Prime Minister Sheikh Hasina announced an incentive at the rate of 2 percent on money remitted by expatriate Bangladeshis.
The objectives were-to mitigate the burden of increased expenses in sending foreign remittances, and to encourage bringing in foreign remittance through legal channels. As a result, inward remittances grew significantly during July-May of the FY 2019-20 as US$ 16.56 billion has been earned during the period, which is making a special contribution to the country’s economy, the minister said.
However, due to the outbreak of coronavirus in major destinations for Bangladeshi migrant workers and the drastic fall in global crude oil prices affecting the Middle East countries, growth in inward remittances will slow down at the end of this fiscal year.
“I therefore propose to continue this incentive in the next fiscal year too,” Kamal added.
BSS/SAS/RY/1950hrs