Poverty Up, jobs down: Economists warn of alarming

Business Report :

Poverty is rising, employment opportunities are shrinking, and key social indicators are worsening in Bangladesh, according to a keynote presentation at an international economic conference in Dhaka on Friday.

Dr Hossain Zillur Rahman, Executive Chairman of the Power and Participation Research Centre (PPRC), said the country is facing a clear economic setback, although he noted that the people’s enduring hope remains Bangladesh’s strongest asset. He observed that many initiatives are underway, yet the overall momentum of progress is not increasing.

Dr Rahman made his remarks at the second session of the International Conference on Economics, Business and Technology Management (ICEBTM 2025), organised by the School of Business and Entrepreneurship of Independent University, Bangladesh (IUB). He pointed out that nearly one-fourth of the national budget now goes to interest payments, reflecting inefficiencies in public spending and deeper structural weaknesses.

He emphasised the need for improvements in education and skills, development of new economic growth drivers, better governance, and greater political engagement. He said sectors like agriculture, IT, and pharmaceuticals hold significant potential beyond the traditional reliance on garments and remittances.

Dr Rahman also criticised bureaucratic delays and the political alignment of business associations, arguing that professionals and entrepreneurs should unite as a reform-focused pressure group. Earlier, IUB Vice-Chancellor Prof Dr M Tamim said inflation remains high due to factors beyond monetary policy.

At the inaugural session, Apex Footwear Managing Director Syed Nasim Manzur warned that unemployment is becoming a major concern, with the rate rising to 5.08 per cent in 2025 and youth unemployment at 11.46 per cent. He stressed the need for large-scale manufacturing growth to absorb the country’s young workforce.

Another keynote speaker was Dr Derek Westfall of Oregon State University, and the session was chaired by Prof Dr Jonathan Liu of Manchester Business School along with IUB Pro-Vice-Chancellor Prof Dr Daniel W Lund. Dr Rahman attended the opening session as chief guest, joined by senior IUB officials.