Home Today's Paper Most Popular Video Gallery Photo Gallery
Subscription Blog Signin Register
Logo
Thursday, July 19, 2018 04:27:05 AM
Follow Us On: Facebook Twitter Twitter Twitter Twitter

Lack of skilled managerial hands costing the economy most

By
08th-Oct-2017       
Comments
Share your thought
Post a comment »
Read all () »

EVERY year 2 lakh foreigners, mostly Indians, employed in Bangladesh received Tk 40 billion as salary and perks as the country has lack of technical and managerial skilled labour force necessary for the manufacturing and industry sector. When the country has been blessed with demographic dividends and more than 70 lakh migrant workers remit some Tk 120 billion annually, the trade off is pathetic and speaks of our apathy.

The low skilled or unskilled working age population is an obstacle towards attaining the potential economic growth that entrapped the economy in agriculture and service sectors instead of the industrial sector. To atain the potential growth, the country has to walk along the industrialization path for which it needs a skilled workforce, mostly managerial skills. To get the nectar from the demographic dividend, the government, universities, NGOs and all other platforms should coordinate to formulate vigorous action plans for producing a higher skilled workforce.

Horribly, the graduate unemployment rate is tremendously high at 47 percent in the country meaning the higher education failed to produce the skilled manpower necessary for fulfilling market demand. The entrepreneurship skills among the labour force is much lower than the global level. Over the years, the number of higher educational institutions mushroomed without proper strategy, diversity and without maintaining standard or quality. Thus, for many studying at higher educational institutions have become worthless and just a wastage of time. New higher education and vocational education strategies aligning the national interest and market-based economy and economic potentiality must be devised.

Some of the East and South-East Asian countries have invested heavily in human resource development, in particular, education and health, to achieve a higher economic growth rate during their time of demographic dividends. China, Japan, and many other countries developed their economies using the demographic dividend but we are not on the right track. Experts said the size of the working-age population of Bangladesh would start to decline and the country may not get this dividend again in the future. Economists said when the domestic job market is declining to cope with the larger unemployed and underemployed youths, many midrange jobs are gradually being occupied by foreigners as local university graduates fail to achieve the required level of skills under the faulty education system. Unless the country capitalizes on the opportunity, the window would not remain open forever. Developing a brand of highly proficient workforce, particularly with quality managerial ability is now a crying need for the country. Failure to do so would only open doors to the foreigners to be hired at a high costs.

To capitalize on the dividend, the government should take multifarious steps - by paying special attention to education and health for human development and investment in human capital by promoting technology dominating industries. Time has elapsed, but it is not too late to devise plans for capitalizing on the juvenile people for economic development. To get maximum dividends, we endorse the experts' suggestions --- invest more on skill, education and health, expand the private sector, and create opportunities for the entrepreneurship.

Tariff
Add Rate

News Archive

Inside The New Nation

City »

Bangladesh Sammilita Peshajibi Parishad formed a human chain in front of the Jatiya Press Club on Wednesday demanding unconditional release and proper treatment of Begum Khaleda Zia.


Editorial »

Public money and gold are not safe, it is a national disgrace


Bangladesh Bank on Tuesday refuted the allegation that one of the gold bars kept in its highly secured vault by the customs department was adulterated. Following a report published by a vernacular daily that quoted Customs Intelligence Investigation Department report, the central bank comes up with the observation that "the ...

Football »

French World Cup victors show triumph of diversity: Obama


AFP, Johannesburg :Former US president Barack Obama on Tuesday singled out the African heritage of many players in France's World Cup-winning football team in a speech paying tribute to Nelson Mandela.Speaking in Johannesburg to mark 100 years since Mandela's birth, Obama said that embracing diversity "delivers practical benefits since it ...

Football »

Maurizio Sarri, the new Chelsea soccer team manager, holds up a jersey during a press conference for his official presentation at Stamford Bridge stadium in London on Wednesday.


Entertainment »

Former supermodel Tapur Chatterji turns entrepreneur


In the ever-changing landscape of contemporary times, there’s more career crossover now than ever before. Granddaughter of veteran film director Hrishikesh Mukherjee, Tapur Chatterji who made a mark as of India’s most formative supermodels in 90’s has recently forayed into design and interiors and launched her own entrepreneur outfit. With ...

International »

Thai cave boys leave hospital ahead of press conference


AFP :Twelve boys and their football coach who survived a highly dangerous and dramatic rescue from a flooded Thai cave were discharged from hospital Wednesday ahead of a press conference where they will tell their incredible story for the first time.An AFP correspondent on the scene saw the team, who ...

Entertainment »

Elnaaz surprised by Salman -Katrina controversy about Sacred Games


Actress Elnaaz Norouzi is surprised that there is a controversy about the characters of Karan Wahi and her in the Netflix series Sacred Games. The characters are alleged to have taken inspiration from real life incidents in Salman Khan and his ex-girlfriend Katrina Kaif's real lives.  "While shooting the episodes, ...

Entertainment »

Vidya Balan is all set to play her first Telugu film!


One can't refute the fact that Vidya Balan is one of the most versatile actresses in Indian Cinema today. The National Award Winning actress has never shied away from going off the beaten track and picking up complex and challenging roles. Needless to say, she has effortlessly nailed them all ...

Football »

Mbappe to donate US $500,000 World Cup winnings to charity


Sports Desk :French teenage sensation Kylian Mbappe will be donating his entire World Cup earnings to a charity that organises sporting events for children with disabilities.The 19-year-old reportedly earned about US$22,300 per game in the tournament and an additional US$350,000 for helping his country lift the World Cup trophy on ...

Editorial »

Trump‘s behaviour in meeting with Putin regarded as disgraceful


US President Donald Trump has defended Russia over claims of interference in the 2016 presidential election. After face-to-face talks with Russian President Vladimir Putin, Mr Trump contradicted US intelligence agencies and said there had been no reason for Russia to meddle in the vote, as per international media reports.Mr Putin ...

City »

BNP Standing Committee member Dr Khondkar Mosharraf Hossain speaking at an opinion sharing meeting on 'Role of Present Election Commission and Blue Print of the Government' organised by Bangladesh Youth Forum at the Jatiya Press Club on Tuesday.


International »

No reason to believe Russia behind election meddling


Reuters, Helsinki :U.S. President Donald Trump emerged from a meeting with Vladimir Putin on Monday saying he saw no reason to believe Russia had hacked the 2016 U.S. presidential election, and the Russian leader "was extremely strong and powerful" in denying it.Trump held his meeting just days after a special ...

International »

US, North Korea hold 'productive' talks on war remains: Pompeo


AP, Seoul :U.S. and North Korean officials held "productive" talks Sunday to discuss the return of U.S. service members' remains missing since the Korean War, U.S. Secretary of State Mike Pompeo said.Pompeo, who was not part of the talks, said in a statement that working level meetings between U.S. and ...

Business & Economy »

American Tony Roma now in Dhaka


Business Desk :America's most favorite ribs & steak chain "Tony Roma's" opened officially in Bangladesh on Monday.The first flagship outlet was launched at the most aristocratic zone in the city, NEB (3B), Road#74, Gulshan-2 in Dhaka. US Ambassador to Bangladesh Marcia Bernicat attended the function as the chief guest.Tony Roma's ...

Editorial »

Govt`s pragmatic step is needed to save Bangladesh from adverse impact of global warming


A RECENT study has shown that Bangladesh is among the countries 'most at risk' as over one billion people in the world are lack of air conditioning and refrigeration to keep them cool and to preserve food and medicines while global warming increasing temperatures. More electricity demand for fridges, fans ...

 
Items that you save may be read at any time on your computer, iPad, iPhone or Android devices.
 
Are you new to our website? Do you have already an account at our website?
Create An Account Log in here
Email this news to a friend or like someone
Email:
Write a comment to this news