The Bangladesh Nationalist Party (BNP) had pledged to create 10 million jobs within its first 18 months in power. However, the current situation in the country’s industrial sector is raising serious questions about the feasibility of achieving that target.
According to the Bangladesh Textile Mills Association (BTMA), production has completely stopped at more than 900 of its over 1,800 member textile mills. Meanwhile, data from the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) shows that 19,188 workers were laid off or lost their jobs at 80 member garment factories during the first six months of the year. Of those, 27 factories were permanently closed.
The 18-month deadline has not yet passed, and there may still be opportunities to create new jobs in other sectors. However, the contrast is becoming increasingly difficult to ignore: while the government aims to create 10 million new jobs, some of Bangladesh’s largest employment-generating industries are experiencing factory closures, production shutdowns and significant worker layoffs.
This leaves the government facing a major challenge: how can it protect existing jobs while simultaneously creating 10 million new employment opportunities?
According to the Bangladesh Textile Mills Association (BTMA), production has completely stopped at more than 900 of its over 1,800 member textile mills. Meanwhile, data from the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) shows that 19,188 workers were laid off or lost their jobs at 80 member garment factories during the first six months of the year. Of those, 27 factories were permanently closed.
The 18-month deadline has not yet passed, and there may still be opportunities to create new jobs in other sectors. However, the contrast is becoming increasingly difficult to ignore: while the government aims to create 10 million new jobs, some of Bangladesh’s largest employment-generating industries are experiencing factory closures, production shutdowns and significant worker layoffs.
This leaves the government facing a major challenge: how can it protect existing jobs while simultaneously creating 10 million new employment opportunities?