Dhaka: Finance Adviser Dr Salehuddin Ahmed today proposed an allocation of TK 438 crore for the Ministry of Labour and Employment for fiscal year (FY) 2025-2026, which is TK 92 crore higher than the allocation in the revised budget in FY 2024-2025.
According to Bangladesh Sangbad Sangstha, the finance adviser in his budget speech emphasized the government’s commitment to developing a skilled youth workforce and creating self-employment opportunities. Dr Ahmed highlighted the celebrations of the ‘Tarunyer Utshob (Youth Festival) 2025’ under the theme ‘Let’s change the country, change the world’. To promote self-employment, the ceiling for youth loans has been increased, with a new fund of TK 100 crore for young entrepreneurs being introduced for the first time.
Dr Ahmed also announced a project aimed at creating employment by providing training and credit facilities to nine lakh youths by December 2028. Additionally, freelancing training for 28,800 educated and job-seeking youths in 48 districts commenced in January 2025. He noted that the young workforce is prepared to meet both domestic and global market demands, with initiatives underway to offer world-class technical training.
Efforts are being made to connect industries, training institutes, and academia to ensure job placement through demand-based curriculum development and training. A special program aims to integrate export-oriented and small and medium industries with global high value chains, targeting to train about 2,20,000 individuals in various professions.
Dr Ahmed further stated that the government remains committed to the welfare of existing workers and creating new employment opportunities. To address labour unrest and maintain productivity, approximately TK 651.37 crore has been disbursed to various industries since August 2024. In response to high inflation, the annual wage increment rate for the industrial sector has been increased from five to nine percent from December 2024. The minimum wage has been set for industries such as tanneries, soaps and cosmetics, cold storage, and tailoring, with plans to revise minimum wages for 15 additional sectors over the next three fiscal years.