Bangladesh Economic & Infrastructure Development - Updates & Discussions

[bluesky]

In other news, the minimum wage for garments has been raised from 5,300 Taka to 8,000 Taka after 5 years.
The minimum wage for a garment worker is now nearly 100 US dollars per month.

How about raising it to Taka15,000 next year. Why do you guys want some people to become super-rich at the expense of poor guys like me? Your govt has raised the wages to Tk.80,000 for all those lazy and non-performing govt employees. Why not others who work more than ten hours a day?

 

[UKBengali]

How about raising it to Taka15,000 next year. Why do you guys want some people to become super-rich at the expense of poor guys like me? Your govt has raised the wages to Tk.80,000 for all those lazy and non-performing govt employees. Why not others who work more than ten hours a day?

Need to strike a balance between the welfare of workers and the health of the industry.

btw - average wage in BD is now 13,500 Taka - more than 150 dollars a month.

 

[Mage]

Need to strike a balance between the welfare of workers and the health of the industry.

btw - average wage in BD is now 13,500 Taka - more than 150 dollars a month.

13500 should be minimum wage not average wage.

 

[UKBengali]

13500 should be minimum wage not average wage.

Better 8000 Taka minimum than no wage at all.

Nearly all these garment workers have spouses that earn 10000 Taka a month or more and so total family income is around 20000 Taka.

 

[Mage]

Better 8000 Taka minimum than no wage at all.

Nearly all these garment workers have spouses that earn 10000 Taka a month or more and so total family income is around 20000 Taka.

And how much is the rent for a room in a slum?

 

[UKBengali]

And how much is the rent for a room in a slum?

No idea but much less than total family income of 20,000 Taka a month.

Government has announced a programme where slums will be demolished and replaced by apartment blocks where apartments will be rented out at same rents.

This takes time and AL are on right track.

 

[Homo Sapiens]

this is a game bd will lose in the long run... there are many other countries where labour is cheaoer than bangladesh... if bangladesh keeps selling their tshirts for 1 $ as manufacturers (same marked up or 3-5 when in reaches west/ europe) and keeps giving workers basic rights like good wages... it wouldn't be profitable... if bangladesh decides to increase the prices (which is not in bangladesh's hands to begin with) the market will go to the poorer countries with cheaper labour.
we have to quickly transition from garments to other industrie

This with the premise that Bangladesh will always remain at the lowest ladder in productivity in garments industry. With rising productivity in this sector which is happening rapidly now, we can safely increases the wage of garments workers without the fear of loosing the market share. Garments export still a significant part of export for countries like China, Turkey despite high living standard and high minimum wages. They are maintaining this with moving up into the value chain in garments products. Same thing is happening with Bangladesh now. If Bangladesh can enhance the capacity of ports and roads along with rising productivity and efficiency, then garments export will continue to occupy a significant portion in our export basket for decades to come.

 

[bluesky]

Better 8000 Taka minimum than no wage at all.

By reading your post I can think you have become a modern-day Feraun who denied wages for the desert labors who built Sphinx and Pyramids in old-time Egypt. BCL guys usually ride Rickshaw without paying the fare.

 

[Michael Corleone]

socialism/communism is still better then capitalism........however there is a third way too, which is Islami economic system, which was build by Prophet Muhammad PBUh and was carried on and matured by Khulfa e Rashideen which state of Madina was established after treaty b/w Ansar e Madina and Mahajireen e Makkah.

Until about a certain age I too would have backed Islamic economic system/ Islamic banking but now that I know that this is just a sham (in the present world), I can’t back them.

Socialism is a good idea but it’s not full proof... to maintain control over masses it becomes authoritarian. China avoided the mistakes the soviets did early on and survived. Tbh it’s not for everyone.

With rising productivity in this sector which is happening rapidly now, we can safely increases the wage of garments workers without the fear of loosing the market share

Lately I’ve been seeing major garments in Bangladesh being automated... for higher efficient productivity, this is beginning to look bad specially if we have more low skilled workers in the future as jobs are being automated... assuming we would still have a substantial part of the population working in low level industries like garments into the 2040... we should look into developing other industries that might still need manual interaction and use our population effectively for maximum output. Also in turn work to reduce the number of manual workers/ labors and develop an effective highly educated workforce in other technological fields.

 

[mb444]

Not with our pathetic system. Easily seen from our lack of FDI. Most of the pledges of investment don't get fulfilled either.

BD growth is not and have never been FDI driven..... we just have to hope for more of the same.... steady sustained embedded growth fueled by internal demand and coupled with raising social indicators.

 

[Mage]

BD growth is not and have never been FDI driven..... we just have to hope for more of the same.... steady sustained embedded growth fueled by internal demand and coupled with raising social indicators.

The article says that it's not necessary to worry about trade deficit as it will encourage FDI....which is unlikely in BD's case.

We can't hope for more of the same for long either. RMG is not gonna make BD developed country. And other industries are not appearing. And we will need FDI at least initially for other industries to flourish. Economic reforms are necessary that will encourage investments here. But what is being dine here? Ease of doing business rating worse than Afghanistan. Inept bureaucracy is harming BD more than anything. But Biman guys will say otherwise.

 

[Mage]

No idea but much less than total family income of 20,000 Taka a month.

Government has announced a programme where slums will be demolished and replaced by apartment blocks where apartments will be rented out at same rents.

This takes time and AL are on right track.

How easy do you think it is to raise a family(of 4 let's say) in Dhaka with 20,000 income?

 

[UKBengali]

How easy do you think it is to raise a family(of 4 let's say) in Dhaka with 20,000 income?

It is not easy dude but BD is still a poor country. You cannot give people an overnight 50% pay rise with no increase in productivity.

Only solution is to keep on the current course with high economic growth, wages rising higher than inflation and higher government spending on education, health and social safety net.

 

[Nilgiri]

Well, govt should focus on collecting the revenue and taxes.

Yes a govt should always try to best implement what it already has in its policy, standards and rule of law (and spend that rationally by improving on its corruption and efficiency level)...rather than deflect and try to grab even more bigger piece of the pie while it keeps that corruption and efficiency level atrocious. In fact doing this (always over-expanding its footprint and role instead of being concise on common minimum stuff that it has ignored this long) is sign of its failure and corruption.

In other news, the minimum wage for garments has been raised from 5,300 Taka to 8,000 Taka after 5 years.
The minimum wage for a garment worker is now nearly 100 US dollars per month.

Minimum wage means squat. Just another way for the govt to intervene and distort things....because of earlier interventions and distortions it did.

How easy do you think it is to raise a family(of 4 let's say) in Dhaka with 20,000 income?

It's pretty pathetic that some people here think the BD govt will spend money it takes (through essentially gunpoint) from poor families (or low middle class etc) better, more efficiently and more rationally than these people themselves (to improve their lot).......instead of you know, first improving their own corruption and efficiency instead of expand tax footprint = miracle solution (and keeping the internal atrocious crap the same).

 

[UKBengali]

Minimum wage means squat. Just another way for the govt to intervene and distort things....because of earlier interventions and distortions it did.

That is why nearly all the rich countries have it.

Shut your butt-hurt crap as BD living standards are proven to be on the rise.


In other, other news:

https://www.willistowerswatson.com/...ific-rebound-for-the-first-time-in-four-years

BD inflation is now down to 5% and so in real terms salaries are rising 4-5% a year.

Now go and cry some more.