Staff Reporter :
Sanem said that the youth may permanently be unemployed or underemployed due to factory closures and reduced production
About 53% of total employed youth will go under the poverty line due to the pandemic coronavirus, as well as experiencing a 25% income shock, said a research paper presented on Friday by South Asian Network on Economic Modelling (Sanem).
The research paper was unveiled in a virtual dialogue on “Developing of young people: Implement the proposed budget FY21,” organized by Sanem and ActionAid Bangladesh on the day.
Shariatpur-3 parliamentarian Nahim Razzaq was the chief guest in the dialogue.
Sanem said in the paper that the youth may permanently be unemployed or underemployed due to factory closures and reduced production. At the same time, 89% of the total employed youths engaged in the informal sector are also at the highest risk of job loss.
“The 20 million youth labour force is at risk of permanent wage moderations or no income,” said the research paper presented by Sanem Research Associate Eshrat Sharmin.
The paper also said, about 37 million students are affected due to national wide closure of educational institutes since March 17. Very few institutions and students have access to distance learning tools, disrupting education for the students.
As a result, the lower literacy rates and higher dropout rates will increase, it also said.
Nahim Razzaq said that the government allocated Tk64,000 crore for youths in the proposed budget for FY21.
“Now we should emphasize on its implementation and also capacity building. In the budget, the government also raised the allocation in healthcare and education,” he added.
ActionAid Bangladesh Program Manager (Action for impact program) Nazmul Ahsan said that the proposed budget should be implemented in a planned manner, while the method of investment should be changed from previous years.
Ride sharing platform Pathao CEO Hussain M Elius said that around 300,000 drivers have now lost their income due to barriers on ride sharing platforms.
“Our ride sharing platform is now blocked, but the economy and other activities are now open. The government should help local startups so that we can survive,” he added.
Former Bangladesh Bank governor Dr Atiur Rahman said that there should be infrastructure reforms in the health sector.
“If we cannot reform the health sector, we cannot address Covid-19,” he added.
Sanem Executive Director Dr Selim Raihan, ActionAid Bangladesh Country Director Farah Kabir and others were also present in the dialogue.
