Expats should be given 10% incentive for remittance: Planning minister
The planning minister also suggested that the government should offer enhanced facilities to individuals who contribute higher inward remittances to the country.
Planning Minister MA Mannan has said the government should provide a 10% incentive on remittances sent by expatriates who are relatively in the low-income group.
"The country, as well as the respective families of expatriate Bangladeshis, are benefiting from the hard-earned remittances sent by these expatriates. So, we must be more attentive in solving their problems," he said while addressing a programme at InterContinental Dhaka hotel on Friday.
Currently, expatriates enjoy up to 5% additional incentive when sending remittances through legal channels. This incentive breaks down as 2.5% directly from the government, with banks themselves offering up to an additional 2.5%.
Keep updated, follow The Business Standard's Google news channel
The planning minister also suggested that the government should offer enhanced facilities to individuals who contribute higher inward remittances to the country, such as prioritising their children's enrolment in schools and colleges.
Foreign Secretary Masud Bin Momen attended the event jointly organised by the Scholars Bangladesh Society and Centre for NRB Foundation.
He said Bangladesh currently holds the sixth position globally in sending workers abroad, with Bangladeshi workers residing in 147 countries worldwide.
"We have introduced several facilities for expatriates, and we are in the process of updating relevant laws. Insurance for expatriates will be introduced soon, and our consular offices are always prepared to offer services to them," he added.
Emeritus Prof Dr Atiur Rahman of Dhaka University said despite sending fewer workers abroad, the Philippines receives more remittances as their workers are skilled. "We should also send workers after providing them with proper training."
The government has declared 30 December as Non-resident Bangladeshi Day or NRB Day to resolve issues affecting non-resident Bangladeshis and encourage their contributions to the country.
Since 2017, Scholars Bangladesh Society and Centre for NRB Foundation have been celebrating NRB Day at home and abroad.
Other speakers at the event included North South University Vice Chancellor Prof Atiqul Islam, Scholars Bangladesh Society, and Centre for NRB Foundation Founder and President ME Chowdhury Shamim.
The event offered financial assistance to the families of six expatriates who lost their lives while working on foreign soil.
