Bangladesh: Economy of 'Shirt Selling'

Can BDT 8000 taka (£62) per month be a Humanitarian salary to live in Dhaka, Bangladesh? In the name of development what is going on is completely false, an illusion. The policies of development in Bangladesh are wrong from the root.  It is said that the population of Bangladesh is 164.7 million (2020). People work so that wealth grows but the question is what people produce? Do they produce food or exportable goods? In the past people grew Rice, jutes etc. But we have to look into the changes in the economy at present. Now GDP is growing, the number of people is also growing. However, Bangladesh is successful at controlling the population. But if we observe the development in terms of 'Quantity', we will see the production has increased so that income has also increased. But What is the root of this increasing? If we observe the Bangladesh economy from an international economic perspective, we will see Bangladesh's economy is still dark as in the past. Bangladesh used to export Jutes, but nowadays the exporting rate is totally zero. Instead of jutes, Bangladesh is now exporting ready made garments. Exporting ready made garments is a primary industry (processing industry). Because Bangladesh imports clothes, yarn etc. So if the importing value increases, normally prices will be up. But how Bangladesh is defeating other competitors in this industry? Because, Bangladesh has a very cheap labour market as it has a big population. 

However, for the population control, in future labours will be decreased & the value of them will be increased following the rules of economy. Still Bangladeshi garments owners are paying less than the minimum salary according to international Standard. So that Bangladesh can benefit a lot by giving less wages to the labours. But its not a base of stable economy as well as the industry of garments. If any country could provide more cheap labour than Bangladesh wouldn’t have anything. It's a matter of sadness.

Secondly, another source of income is 'Remitance'. Bangladesh exports inefficient, uneducated people to the middle east, Malaysia, Singapore etc. Bangladeshi labours send money to home from those countrys. If we observe Sri lanka or Cuba, they have tourism industry. During the covid, those contry's foreign reserve had gone down because they were not getting foreign money. Even Bangladesh's neighbouring country Nepal has a big tourism industry. But unfortunately despite of natural resources, Bangladesh couldn’t ensure the security, entertainment, amenities overall the tourist friendly environment for the foreigners. 

The economic policies of Bangladesh has not been changed since 1980's. Day by Day dependency on international market is growing. Because it's basic weakness is export-dependented economy & BD has literally no control on international market. 

Bangladeshi people's average buying capacity or income has not been increased. But government & economists of BD are showing totally false measurements. No one is telling in favour of poor people, their income. As a result poor are becoming poorer, reach are becoming reacher. The root of this problem is inequality in distribution. Alas! The economists are only telling the colorful stories of development but they are not showing, how people will be benefitted from it. So no one is watching the true picture!