Sunday, 22 July 2007

Bangladesh: Remittance flow to go up if NRBs offered more benefits

FHM Humayan Kabir
The country can attract more remittances from the expatriate Bangladeshis if their hard-earned money is utilised for their benefit as well as that of the national economy, experts say.
Although the earnings from the Bangladesh immigrants account for nearly 7.0 per cent of the country's gross domestic product (GDP), the economic return they get is minimal, they said.
Research Director of the Centre for Policy Dialogue (CPD), Mustafizur Rahman, told the FE that the government should offer more economic benefits to the country's one of major foreign exchange suppliers - the non-resident Bangladeshis (NRBs).
"The annual remittance flow can be more than $6.0 billion, if the government offers some more facilities like those offered to the local exporters," he opined.

According to sources, about 4.0 million Bangladeshi expatriates working in different countries remitted about $6.0 billion in last fiscal 2006-07 while total export earnings from different sectors was $10.9 billion during June-May period of the last fiscal.
The major portion of the export earnings came from the ready-made garment (RMG) sector. In the first 11 months of the last fiscal FY2007, the RMG exporters earned $8.249 billion.[Read more]

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