2 years ago

Cash incentive on remittance to remain unchanged at 2.5pc

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Keeping the rate of incentive on sending remittance unchanged at 2.5 per cent in the fiscal year 2022-23, Finance Minister AHM Mustafa Kamal has hoped that a satisfactory growth of remittance will be back on track soon.

In his budget speech on Thursday, he mentioned that in FY2020-2021 the growth of remittance stood at 36.10 per cent.

However, since the very beginning of FY2021-2022, the income from remittances slightly decreased, reports UNB. 

With a view to encouraging remittance through legal channels, he said the government has raised the rate of incentives by 0.5 per cent to 2.5 per cent from January, 2022.

The government has withdrawn the mandatory provisions for submission of earning documents of the remitters in the case of availing cash incentives against remittances exceeding the amount of US$ 5,000. As a result, in recent months the flow of remittance has begun to increase again, he mentioned.

Overseas Employment Generation

About the overseas job, Mustafa Kamal said that in order to ensure dignified jobs for Bangladeshi workers abroad, it is necessary to ensure the quality of their training and skill.

With this end in view, all the training programmes of technical training institutes and institutes of marine technology are conducted under the National, Technical and Vocational Qualification Framework (NTVQF) from the current fiscal year.

Mustafa Kamal mentioned that the government has taken up a range of initiatives for the welfare of both expatriate workers and workers returning from abroad.

A plan of action for establishing technical training institutes at every Upazila by phase has been taken up for inspiring the marginalised communities across the country.

He said the implementation of the project for establishing 100 technical institutes at Upazila level will start soon.

Apart from this, there is a plan to ensure overseas employment of 8.10 lakh Bangladeshi workers and provide skill development training to 5.20 lakh workers in different trades, he said.

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