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Coronavirus outbreaks have caused blockages in many countries. Meanwhile, Bangladeshis living abroad continue to send income (remittances). Last April, expatriates sent remittances of 106 crore 10 lakh dollars, the amount of which is 9,117 crore Bangladeshi rupees.
It is reaching beneficiaries through bank branches, agent banking, mobile financial services (MFS) and NGOs across the country. Throughout the past month of March, 127 crore 8 lakh dollars arrived and in April of last year, 143 crore 40 lakh dollars arrived. As income declined, expatriates, especially workers, continued to send dollars. As a result, the central bank’s foreign exchange reserves have increased to ৩ 3,311 crore.
Concerned people say that many countries where there are Bangladeshi workers have not yet been locked up. Again, even if there is a lockout, many people send money even if they take out loans to manage the family. However, it is not clear how long it will last. Now the government must take the initiative to help expats. Again, it is necessary to form a fund to help those who return.
The best indicator of Bangladesh’s economy is known to be expatriate income. Expats’ income has decreased due to the crown. The countries inhabited by expats are riddled with viruses and long-term blockages.
According to data from Bangladesh Bank, last March the income was 126 million rupees and 8 lakh dollars. In March of last year, 145 crore 8 lakh dollars arrived. As a result, last March, revenue decreased by approximately 12 percent. Last February, revenue reached 45 1.45 billion. In December, the country’s expatriate income reached ৬ 179 million, which in January fell by কোটি 50 million to ৬ 164 million.
Remittance houses and banks are known to have been closed to prevent coronavirus infection in the countries from which the highest remittances or remittances originate. Bangladesh workers are also in danger. The top 15 sources of expatriate income are Saudi Arabia, the United Arab Emirates (UAE), the United States, Kuwait, the United Kingdom, Malaysia, Oman, Qatar, Italy, Bahrain, Singapore, South Africa, France, South Korea, and Jordan.
The government has announced a 2 percent incentive rate in the current 2019-20 budget to increase expatriate income legally. Consequently, from July 1, expatriates will receive an incentive of Tk 2 for every 100 rupees. The budget has allocated Tk 3,060 crore for this. As a result, expats’ incomes increased. Now the coronavirus has hit him hard.
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