Inflation control and employment generation

The economy can be compared to a large tree. Its roots are employment, and its branches carry the hopes of the people. If the roots dry up, the tree cannot remain green. Today, Bangladesh stands in such a situation, where unchecked inflation and inadequate employment opportunities are sapping the vitality of the nation.

In recent years, the prices of essentials like rice, lentils, and oil have doubled within months, while job opportunities remain scarce. Thousands of young graduates wait endlessly for employment. Incomes are stagnant, expenses continue to rise and poverty deepens. The country has been grappling with high inflation for three years, while youth unemployment has also been high. Amid such a situation, a World Bank report warns that an additional 3 million people will fall below the poverty line, a magnitude that will only increase if inflation remains unchecked.

The crisis stems from several causes: rising global fuel and raw material prices, market syndicates and hoarding, slow industrialisation, a lack of technology-driven jobs and policy instability. Unless these issues are addressed, the economy will continue to falter.

Solutions, however, are within reach. The government must enforce strict market regulation and crack down on syndicates, while simultaneously prioritising industrialisation, agricultural modernisation, IT sector investment and support for small entrepreneurs. Expanding technical education and ensuring policy stability would help build a skilled workforce and attract foreign investment. Strengthening social safety nets is equally crucial.

Inflation control and employment generation are not mere economic goals. They are matters of human survival and social stability. If Bangladesh truly seeks sustainable development, urgent steps must be taken now. Otherwise, the blow of poverty will push millions into deeper uncertainty, burdening the entire society.

Nusrat Jahan (Shoronika)

Dhaka.

shoronikaislam1709@gmail.com