For further increasing remittance flows
Enamul Haque | Sunday, 25 May 2008
THE remittance flows can be increased by an assortment of policies in different sectors, and not only by setting up remittance houses abroad. While it has been a useful step, other policies must be pursued for augmenting the remittance flows. For example, Bangladesh embassies will have to be proactive in finding out avenues for manpower export in the old and new destinations. Labour attaches need to be posted in the missions abroad, instead of keeping the positions vacant. Truly capable officers should be appointed to these posts. The missions should devote more time and importance to attend to cases of overseas Bangladeshi workers so that they get the remuneration and other monetary benefits from the foreign employers according to the contract. These steps can further increase the volume of remittance.
Instead of sending unskilled and semi-skilled workers, the priority should be sending more skilled workers and professionals. They would earn more and remit more. It would require training people for the purpose. For this the government should set up and run a sufficient number of skill training centres across the country. The training can be imparted free of costs. The trained ones would be able to repay gradually the required fees once they get jobs abroad. The state-owned commercial banks should be advised to provide loans so that they can pay the fees of manpower agents. The loans should carry nominal rates of interest and can be serviced by workers from their earnings as they get jobs abroad.
The operation of private manpower agencies must be monitored. For fraudulent practices agencies should be closed down and punished. There should be a law, with enforcement, to require all agencies to take only the due amounts of fees and other service charges from overseas job-seekers. The agencies must be penalised for taking or demanding more in underhand deals. These steps, efficiently taken, would significantly increase the flow of remittance.
In the short term, establishment of more remittance houses aboard, where Bangladeshis work, could produce results. But the proper functioning of these houses is needed for the purpose, first of all. Honest, efficient, committed personnel need to be appointed for obtaining the desired results.
Instead of sending unskilled and semi-skilled workers, the priority should be sending more skilled workers and professionals. They would earn more and remit more. It would require training people for the purpose. For this the government should set up and run a sufficient number of skill training centres across the country. The training can be imparted free of costs. The trained ones would be able to repay gradually the required fees once they get jobs abroad. The state-owned commercial banks should be advised to provide loans so that they can pay the fees of manpower agents. The loans should carry nominal rates of interest and can be serviced by workers from their earnings as they get jobs abroad.
The operation of private manpower agencies must be monitored. For fraudulent practices agencies should be closed down and punished. There should be a law, with enforcement, to require all agencies to take only the due amounts of fees and other service charges from overseas job-seekers. The agencies must be penalised for taking or demanding more in underhand deals. These steps, efficiently taken, would significantly increase the flow of remittance.
In the short term, establishment of more remittance houses aboard, where Bangladeshis work, could produce results. But the proper functioning of these houses is needed for the purpose, first of all. Honest, efficient, committed personnel need to be appointed for obtaining the desired results.