Forma # 1.ai - ICAB

• Malaysia has recently
expressed its intention to
import manpower from
Bangladesh only through the
government channels. The
objectives of such a proposal
are to reduce migration cost
and to ensure some discipline
to the process. According to
available information, the
Government of Bangladesh will
need to ensure that migration
cost to Malaysia is kept
between Tk. 25,000 to Tk.
35,000 and these workers will
get work permit for five years.
In view of this changing
situation, government should
play a proactive role to
increase the capacity of BMET
to send a larger number of
migrant workers through legal
channel. If required, the BMET
should be suitably strengthened
towards this. Aspirant workers
should be given appropriate
information with regard to
emigration procedure, laws,
language and culture of the
destination countries.
• Regrettably, in recent times
Bangladesh is losing some of its
manpower market to Nepal and a
number of other countries.
GoB should look into the
matter, identify reasons and
take measures to address the
situation. The allegations of
recruitments of Bangladeshi
workers by recruiting agencies
of other countries should also
be properly investigated.
4. SHORT‐TERM
OUTLOOK AND
CONCLUDING
OBSERVATIONS
The crucial importance of how the
Bangladesh economy performs in
FY2010‐11 ought to be judged
inter alia, from the following two
perspectives. First, globalising
economies such as Bangladesh
will have to be able to capitalise
on the ongoing turnaround in
global economy. Second,
FY2010‐11 being the first year of
the Sixth Five‐Year Plan
(2011‐2015), a good kick‐off in
the first year will help to
materialise the medium term
objectives of the Plan.
Growth for Structural
Change
For sustainable inclusive
development, Bangladesh
economy needs to experience a
structural change based on
promotion of productive sectors.
Given the resource endowment of
the country, it is maintained that
an employment‐ intensive, but
highly productive manufacturing
sector has to spearhead such a
structural change. In view of the
above, growth experience of
Bangladesh in past three decades
reveals two broad phases.
(i) GDP growth during 1980s and
1990s had originated mainly in
rapid growth of the manufacturing
industries (Figure 21).
(ii) In 2000s, service sector
provided a substantial base to
augment additional national
income, while manufacturing and
crop sector held their positions.
Figure 21: Incremental Share of GDP by Broad Sectors (%)
Source: Esmated from MoF (2010).
36
January - March 2011
The Bangladesh Accountant