Around 19 lakh people are likely to get new jobs in the next fiscal year, as the government has set a target of employment generation based on GDP growth and manpower export, according to a planning ministry estimate.
“Higher GDP growth generates higher employment for the people,” Planning Minister AHM Mustafa Kamal said yesterday at a press briefing, organised for the first time to highlight his ministry's activities before the media.
Explaining the employment generation calculation method based on GDP (gross domestic product), Shamsul Alam, a member of the General Economics Division of the planning ministry, said one percentage point of GDP growth represents employment generation for around 2.5 lakh people.
“If we take the 7 percent GDP growth for the next fiscal year, employment generation will be for 17.5 lakh people, while another 2-2.5 lakh people will go abroad for jobs,” he said, adding that 95-96 lakh people were employed in the last five years.
The planning minister cited the ICT sector as a major area for employment generation, especially for the educated young generation. “We have taken many projects for the unemployed but educated youth. “'Learning and earning' is one of them, and through this 50-55 thousand young people can be self-employed,” he added.
Higher employment generation is possible in the ICT sector with comparatively less investment, he said, adding: “A Tk 200 crore spinning mill can generate direct employment to only 650 people, but if the same amount is invested in the ICT sector, at least 5,000 people will get new jobs.”
Replying to queries, the minister said there were some parameters to achieve before Bangladesh could turn into a mid-income country.
The parameters are maintaining certain per capita income for three years, developing a human index, a usual economic advancement and economic resilience during economic pressure or downturn.
“We are on the right track considering all the parameters to be a mid-income country,” he observed.