Remittance declines by 4.8pc until April `14

Finance Minister AMA Muhith in his budget speech said Thursday remittance has declined by 4.8 per cent until April, 2014, of the outgoing fiscal year 2013-14 against the previous fiscal year's growth of 12.6 per cent.

In this context he said: "I should add that it has declined not only in our country; rather there is a global downward trend in remittance flows".

He said according to World Bank, remittance growth in the South Asian countries was only 2.3 per cent in 2013, while it was only 1.7 per cent in India. Lately, a significant volume of spending by expatriate workers for legalisation of their employment in Saudi Arabia has led to this decline in remittance in Bangladesh.

He said the government was taking different measures to increase manpower export taking into cognizance the current trend in this sector. To create employment opportunities in potential markets and to expand employment opportunities in the traditional ones, "we are opening new labour wings while taking diplomatic initiatives," he added.

The minister said: "We are also providing financial assistance for manpower export and encouraging manpower export on G-to-G basis".

The minister added the government was keeping watch on manpower export through private channels, so that it was not discouraged.

"Moreover, we have already taken a number of initiatives to develop skilled human resources consistent with the demands of overseas labour market. As a result, I hope, remittance will be back to its normal growth trend in the next fiscal year," Mr Muhith informed.

"I fervently call upon our expatriate workers not to engage in any unlawful activities in foreign lands. This not only lands you in trouble, but also tarnishes the image of the country and impedes manpower export," he added.