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For a healthy remittance flow

  • Published at 12:03 am March 6th, 2019
Money
Photo: BIGSTOCK

Developing the skills of our migrant workers should also be one of our topmost goals

As the biggest source of foreign currency in Bangladesh in terms of net earnings, there is no way to overstate the importance of a healthy remittance flow.

The silver lining to a stronger dollar has been an uptick in remittance inflow by 10% from July to February in the current fiscal compared to the same period last year, but the truth is, the actual number may be even higher because not all remittance gets reflected in the official figure due to some channels being illegal. 

Sending money home through legal channels, sadly, is still not as easy as it should be, and it is up to the government to do everything possible to make the sending of remittances as smooth, simple, and hassle-free as possible. 

One good way is to help migrant workers and prospective migrant workers access information that will demystify the process, and make it safe and free of harassment from unscrupulous middlemen -- to that end, the migrant portal is a worthy initiative. 

There are costs, both monetary and non-monetary, to sending remittance, and it is important that such costs are reduced.

Furthermore, developing the skills of our migrant workers should also be one of our topmost goals, because at present, most workers being sent abroad are largely unskilled and untrained, and it is a possibility that Bangladesh will be left behind unless we catch up in terms of the right skills.

Remittance earnings will play a major part in helping us reach our development goals at this point in our country’s journey; the government should do everything possible to boost these numbers.