The New Nation - Internet Edition

IT is reported in the press that a sum of 2.8 billion dollars has been remitted by five million migrant Bangladeshis working abroad during the last five months from July to November 2007. The remittance has increased around twenty-two per cent over that of the same period of last fiscal year. The uptrend may continue if the environment of employment in host countries in Europe, America and Asia remains favourable to Bangladeshi workers.

Over the years, youngsters who faced the problem of unemployment at home opted for migrating to different countries. Majority of the migrant workers obtained offers of employment in host countries and that through the recruitment agencies working under the Ministry of Labour and Manpower. They contribute to production in factories and establishments or work in hotels, hospitals and other service organisations, in host countries. The earnings from such workplaces have enabled the migrant workers to make savings that are being been remitted to Bangladesh.

Remittances from Bangladeshis working abroad have increased over the years. The inflow of the money is the second largest amount after the export earnings from the garment sector. If all the inflow of remittances from migrant workers is made through banks and financial institutions, then the figure of remittances may increase, because migrants in some countries, failing to obtain necessary support from banks, use unofficial channels like personal "hoondies" for transfer of their money to family members at home. Those using the unofficial channels sometimes lose their money.

That being so, interventions in the process of remittance by the Bangladesh Bank is imperative. Increase in remittances and the use thereof for productive and development sectors of the economy should be ensured. Workers abroad have to be provided with reliable channels for remittance and that for ultimate investment in productive sectors. Some workers have literally been defrauded by recruiting agencies. The sooner the migrant workers are protected from such exploitation the better may be the prospect of augmenting earnings and remittances from abroad. The projection of the Bangladesh Bank on inflow of remittances, touching an annual range of ten billion dollars in next two years, should be noted by all concerned for planning and implementing development activities that would reward the wage earners in particular and the nation as a whole.