10 months ago

Kamal seeks expert opinions on why remittances fall despite rising manpower export

Reuters file photo used for representational purpose only
Reuters file photo used for representational purpose only

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The Finance Minister AHM Mustafa Kamal on Monday sought innovative suggestions from economists and sector experts to identify the reasons why inward remittance flow is not growing to the expected level, despite huge manpower export and students who stay back and work abroad.

He said that the government will accept suggestions and advice to reform policy and increase desired remittance into the country.

Kamal said this while speaking as the chief guest in the inaugural session of ‘Bangladesh’s Public Financial Reforms Initiatives’ in collaboration with the World Bank held in a hotel in Dhaka on Monday.

Abdoulaye Seck, country director for Bangladesh and Bhutan of World Bank, Hisham Waly, Practice Manager, governance global practice-South Asia Reason, World Ban, Dr Md Khairuzzaman Mozumder, Secretary of Finance, among others, spoke at the function. The finance minister said the government is thinking of making structural changes to enhance inward remittance flow in the country.

He also mentioned that the expatriates were sending USD $2.0 billion and above remittances in the country in a month, if the flow continues, there would not be a foreign exchange crisis now.

“But why it is falling despite manpower export and students going abroad increasing a significant number, we would like to know,” he said.

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