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Unemployment reaches epidemic levels: Dr Zillur
Former caretaker government adviser and prominent economist, Dr. Hossain Zillur Rahman, said that unemployment has reached an "epidemic level."
He added that the frustration among the youth reflects the grim reality of this crisis.
Dr. Zillur made these comments at a seminar organised by the Bangladesh Business Forum on ‘Global perspective of trade era and way forward’ held in a city hotel on Monday.
According to him, Bangladesh's economy is moving in the wrong direction concerning poverty.
He noted that inequality has continuously increased during the previous government's tenure, and the country has lost its focus on statistics.
"A recently published government survey shows an increase in the dropout rate at the primary level. This indicates that we are not making real progress," he said.
Hossain said that the nation has seen terrible factionalism in authoritarian rule in the last 15 years. However, the current government is putting private businessmen on the dock to suppress this factionalism, which is not right.
“We need a new growth driver which will take Bangladesh forward in the future, strengthening the wheels of the economy. It has to be discovered from agriculture, medicine, IT, leather or any other sector outside of clothing,” he pointed out.
"The pace of the economy has slowed down significantly compared to before. It is now time to create a new narrative for development," he urged.
During the seminar, questions were also raised about the effectiveness of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI).
Speakers alleged that for the past 15 years, the organization has been run by "pocket committees" instead of capable leadership.
They claimed that political appeasement has been prioritized over the welfare of businesses.
They called for quick elections to turn the FBCCI into an effective business association.
Former Chairman of the National Board of Revenue Abdul Majid, Chairman of Policy Exchange Bangladesh M Mashrur Riaz, president of Bangladesh Reconditioned Vehicles Importers and Dealers Association (BARVIDA) Abdul Haque, former Vice President of FBCCI Abul Kashem Haider, among others, were also present at the event, reports UNB.