Govt looks to raise productivity to 5.6pc by 2031
FE REPORT | Monday, 19 October 2020
The government decided on Sunday to prepare an action plan aiming to increase the country's productivity to 5.6 per cent from existing 3.8 per cent by 2031.
It also decided to boost agricultural production and create more skilled manpower for achieving higher growth in the industrial sector.
The decisions were taken at the 15th meeting of the National Productivity Council (NPC) held at the industries ministry on the day.
Industries Minister Nurul Majid Mahmud Humayun presided over the virtual meeting.
He said his ministry has adopted a strategy including eighth five-year plan for increasing the country's productivity.
"Increasing productivity is inevitable, considering the demand of the present globalized world," he said while mentioning the government's efforts to raise the country's productivity to 5.6 per cent by 2031.
State Minister for Industries Kamal Ahmed Majumder at the meeting stressed the need for boosting exports of local products.
He also suggested installing modern machinery in all industrial sectors (public and private) for increasing productivity.
The meeting decided to air a programme titled "Productivity-Strategy for Development" on Bangladesh Television.
A high official who was present in the meeting told the FE that the meeting also decided to implement short, mid and long-term strategies for attaining the target of productivity by 2031.
He said the government will consider expert suggestions while preparing the action plan for increasing the country's productivity.
Industries secretary KM Ali Azam, power secretary Dr Sultan Ahmed, labour and employment secretary KM Abdus Salam, vice-chancellor of Bangladesh Agricultural University Dr Lutful Hassan, managing director of SME Foundation Md Shafiqul Islam and president of the Federation of Bangladesh Chambers of Commerce and Industry Sheikh Fazle Fahim also spoke at the webinar.