Remittance to rise as 5 lakh going abroad this year: Muhith
Reported by: UNBconnect
Reported on: Oct 26, 2011 08:06 pm
Reported in: Business
Dhaka, Oct 26 (UNB) - Finance Minister AMA Muhith on Wednesday hoped that some five lakh workers would go abroad this year, giving a boost to remittance.
“Remittance now accounts for 10 percent of the gross national income of Bangladesh. So, we’re giving utmost importance to it,” he said.
He was addressing the prize distribution ceremony of ‘Sonar Manush Award and Remittance Festival 2011’ at the Bangabandhu International Conference Center (BICC).
Muhith hoped that the government would soon be able to enhance its capacity of imparting training to 1,00,000 workers from the present capacity of 50,000 workers.
“If the workers are trained well, they we’ll be able to work well, their income will increase and thus remittance inflow will get a boost.”
The Finance Minister hoped that the government would be able to remove the difficulties like delay in visa processing and the bribe taking that the workers face while going abroad.
In near future, he said, such a system would be introduced which enable interested workers to know where he or she would work in what position with what remuneration. It is now possible in the case of Dubai and will be made possible in the case of other countries, he said.
He also said the government is also planning to amend the migration related law to make it stronger.
Muhith said remittance not only help the family of the recipient, but also help the country. “It helps the country minimise the widening gap between export and import.”
The Finance Minister said, “The country annually receives around $ 2.5 billion in foreign aid, whereas the share of remittance is around $ 11 billion.”
In the last few years, he said, the wage earners remittance inflow has marked a rise as it has now become easier to send money due to development in the banking system.
The Finance Minister said it is true that many workers abroad fall victim to harassment like denial by their employers to provide their salaries as per the deed. “But, the situation is now changing.”
He also observed that the tradition of resorting to hundi has reduced a lot in the last four years due to the easier system in sending remittance. The timeline for bank clearance has now reduced and ICT also facilitates channeling remittance.
In the function, the Finance Minister handed ‘Sonar Manush Awrad’ to three successful people in two categories.
M Ismail Hossain of Tangail received the Sonar Manush Award while M Abdul Mannan and M Belal Uddin received the award in the best remittance user family category.
Refugee and Migratory Movements Research Unit (RMMRU) oragnised the award-giving ceremony. Islami Bank Bangladesh Limited was the title sponsor while Dutch Bangla Bank Limited and Western Union Money Transfer was the joint platinum sponsor of the event.
Barrister Anisul Islam Mahmud, MP, Manusher Jonno Foundation executive director Shahin Anam and Bangladesh Bank executive director Ahsanullah and Islami Bank MD Abdul Mannan were present at the function presided over by RMMRU chairperson Dr Tasneem Siddiqui. RMMRU executive director Dr. CR Abrar gave the welcome address.