Where lapse is proving fatal
Thursday, 13 September 2007
NET is a pet word in business. They talk about and look for net gain or net loss while evaluating organizational or business performance. The search for the net of both descriptions becomes more thorough and painstaking while they run inter-dependent but separate businesses concurrently. If the loss in one is compensated or vastly dwarfed by the gain in another, they run both, like a single-footed man using his remaining leg and his walking stick simultaneously. But in many states, which are essentially poor, including this country, the inter-dependence of two or more businesses does not draw proper official attention. What then happens is sordidly manifested in this country by the present instance of several thousand expatriate workers having been stranded on home visit while the visas of many of them have either already expired or are expiring during the long wait for flights.
On the other side, the national flag carrier, Biman Bangladesh Airlines PLC, a grand recurrent loser of money, is now virtually grounded with most of its old aircraft out of order and parked suitably in the hanger. Its few airworthy aircraft, which are also almost equally old, cannot fly regularly due to frequent development of mechanical troubles. What then could happen with the country's markedly profitable inter-dependent business of manpower export, tagged significantly with aviation, has been glaringly indicated by the undesirable situation of thousands of expatriate workers having been stranded and remaining eagerly in wait for flights to their respective destinations. A roaring business is thus facing the grim prospect of becoming dull.
The government has reportedly asked last Monday several foreign airlines to operate additional flights from Dhaka to ease off the pressure and the pains of the overseas-bound workers, who are now stuck up due to shortage of flights. Excepting one, none of the airlines has reportedly agreed to comply with the request. Under the circumstances, the authorities may not be any more wondering why they say, "A bird in hand is worth two in the bush". Nay, in this instance, one bird in hand could be worth all in the bush. While Biman remains in limbo, almost all foreign airlines have escalated their fare rates from Dhaka. Should then the profitable business of manpower export, which earned about $ 6.0 billion in the last fiscal year, record steady regress while the promise, otherwise held by it, still remains enormous?
The authorities should now re-evaluate the intricate connections between inter-dependent businesses. Regrettably, the national airline, which recently underwent a conversion from a body corporate to a public limited company ostensibly for gaining a new lease of buoyant life, is still loathed with an acute fund scarcity to feel restrained from becoming active again through procurement of several new aircraft for maintaining its normal flight schedule. The Bangladesh Bank that has seen its reserve purse steadily swelling with increasingly higher inflow of remittances from expatriate workers over the years ought to assess in consultation with the Ministry of Finance the need to salvage Biman. It may extend a fair amount of loan in foreign currency to keep the promising manpower business afloat. A right action in this regard at this critical time will be essentially good management. Otherwise, foreign competitors in manpower business will progressively elbow out the expatriate workers of this country from their jobs abroad.
On the other side, the national flag carrier, Biman Bangladesh Airlines PLC, a grand recurrent loser of money, is now virtually grounded with most of its old aircraft out of order and parked suitably in the hanger. Its few airworthy aircraft, which are also almost equally old, cannot fly regularly due to frequent development of mechanical troubles. What then could happen with the country's markedly profitable inter-dependent business of manpower export, tagged significantly with aviation, has been glaringly indicated by the undesirable situation of thousands of expatriate workers having been stranded and remaining eagerly in wait for flights to their respective destinations. A roaring business is thus facing the grim prospect of becoming dull.
The government has reportedly asked last Monday several foreign airlines to operate additional flights from Dhaka to ease off the pressure and the pains of the overseas-bound workers, who are now stuck up due to shortage of flights. Excepting one, none of the airlines has reportedly agreed to comply with the request. Under the circumstances, the authorities may not be any more wondering why they say, "A bird in hand is worth two in the bush". Nay, in this instance, one bird in hand could be worth all in the bush. While Biman remains in limbo, almost all foreign airlines have escalated their fare rates from Dhaka. Should then the profitable business of manpower export, which earned about $ 6.0 billion in the last fiscal year, record steady regress while the promise, otherwise held by it, still remains enormous?
The authorities should now re-evaluate the intricate connections between inter-dependent businesses. Regrettably, the national airline, which recently underwent a conversion from a body corporate to a public limited company ostensibly for gaining a new lease of buoyant life, is still loathed with an acute fund scarcity to feel restrained from becoming active again through procurement of several new aircraft for maintaining its normal flight schedule. The Bangladesh Bank that has seen its reserve purse steadily swelling with increasingly higher inflow of remittances from expatriate workers over the years ought to assess in consultation with the Ministry of Finance the need to salvage Biman. It may extend a fair amount of loan in foreign currency to keep the promising manpower business afloat. A right action in this regard at this critical time will be essentially good management. Otherwise, foreign competitors in manpower business will progressively elbow out the expatriate workers of this country from their jobs abroad.