Economic & Financial Policies
Current Situation: Currently, while minimum wage laws for workers are included in labor laws in Bangladesh, they are rarely implemented. Workers are working 12 hours daily instead of 8 hours. Employers often take harsh measures against workers, which are inhumane. Additionally, some workers resort to dishonest means for survival. Problem: It has not been possible to establish proper minimum wage regulations for workers. As a result, if proper evaluation of the issues faced by both workers and employers is not conducted, it will lead to rebellion and eventually result in labor movements. Employers always fear that workers might stop working at any time. Consequently, societal problems persist in the country. A segment of businessmen and workers exploit dishonest methods to earn significant profits. In simple terms, if workers’ minimum wages are not sufficient to sustain their families, they will not perform their duties efficiently. This will lead to significant developmental challenges for the country. A hungry worker cannot perform at their full potential, and their focus and motivation diminish. Similarly, employers will not get optimal productivity from such workers. Eventually, production will decline, and overall development will be hindered. Proposal: A typical family generally consists of at least four members, with one earning member. If an individual works 8 hours daily and 6 days a week, the income should be sufficient to run their household. Thus, a minimum wage for workers must be set. The minimum monthly expenditure of a household is estimated to be 5,000/- BDT. A worker can work 48-50 hours per week. Therefore, a worker must be paid a minimum wage of 25/- BDT per hour. Benefits: When a worker receives fair wages, they will work with focus and dedication. Moreover, the employer whose business relies on the worker will also see improvements in their business. In this way, every business establishment will progress. As a result, Bangladesh will become financially self-reliant, and the relationship between employers and workers will remain positive.
Current Situation: Various banks and NGOs in Bangladesh provide loans in different sectors at interest rates. Many banks and NGOs set their interest rates arbitrarily. These interest rates range from 5% to over 30%. Problem: Due to interest rates exceeding 10%, loan recipients often fail to use the funds for their intended purposes. In many cases, they are forced to sell their assets to repay the interest. This leads many business owners to bankruptcy. Some become homeless and take up daily wage labor to survive. High interest rates prevent economic development among ordinary citizens, farmers, and business owners. As a result, the nation's progress stagnates. Proposal: Considering the geographical conditions, population, and economic factors of our country, all banks and NGOs must limit loan interest rates to a maximum of 10%. Lenders must reduce their business expenses and actively monitor and provide advisory support to ensure borrowers are using loans for legitimate and productive purposes. This proposal should be formalized through legislation, and effective measures must be taken to implement it. Benefits: All loan recipients will be able to conduct profitable business and avoid becoming defaulters. People from all social classes will experience growth. This will help the country achieve financial advancement.
1. Allocating time and roads for small vehicles in busy cities. In our country, busy cities generally refer to divisional cities. Among them, Dhaka city is considered the busiest. Below is a detailed discussion about this busy city. Current Situation: Currently, Dhaka city faces traffic congestion and frequent accidents. The traffic congestion in Dhaka is so severe that a person takes a lot of time to reach their destination from their home. Problem: Traffic congestion in Dhaka is a significant problem. This congestion has greatly slowed down people’s productivity and created obstacles to domestic and international development. The quality of life in Dhaka has worsened. People cannot complete their tasks on time. Fuel consumption for vehicles is increasing, causing economic losses, and the country's resources are being wasted. Proposal: To reduce traffic congestion in Dhaka, time and road allocations for small vehicles must be implemented. The focus should be on the timing and road usage of small vehicles in Dhaka city. Educational institutions will open between 9:00–9:30 AM and close between 2:00–3:00 PM. Similarly, offices will open between 10:00–11:00 AM and close between 5:00–6:00 PM. Small vehicles will operate on designated roads, maintaining proper schedules. Traffic police activities must be strengthened. Fines should be imposed in areas with traffic jams, and comprehensive legislation must be enacted and implemented in various parts of the city. Benefits: If the above measures are implemented, traffic congestion in Dhaka city will reduce significantly, and all classes of people will be able to reach their destinations on time. Students will attend classes punctually, and the country’s economic progress will accelerate. This will enable every citizen to succeed in their work, save time, and reduce fuel costs.