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Creating employment key to dev

Says renowned economist Dr Rizwanul Islam

Staff Correspondent
GDP growth alone cannot be the indicator of development, and improvement of living standards is imperative along with GDP growth, said renowned economist Dr Rizwanul Islam yesterday.
"Bangladesh is achieving GDP growth but it couldn't create employment specially in manufacturing sector," said Rizwanul, also former adviser to International Labour Organisation, in a lecture at Dhaka University.
Banglar Pathshala organised the programme at RC Majumdar auditorium on "Economic growth, structural transformation and employment".
Dr Rizwanul said quality employment is necessary for good income, and it is vital for eradication of poverty and improvement of living standard.
To achieve this, the renowned
economist advocated for structural transformation in economy.
"Structural transformation in economy is significant because with this what will happen is that low-income people will be able to develop their living standards through increasing production and income,"
he added.
Asserting that the share of the industry sector in creating employment is only 14 percent, Dr Rizwanul said industries like RMG, leather, non-leather and electronics need to grow.
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Prime Minister Sheikh Hasina's economic adviser Dr Mashiur Rahman said creating employment has become a problem despite the country's progress.
About the GDP growth in measuring a country's development, he said it is true that GDP cannot measure all parameters of economic growth. But according to noted economists, he said, GDP growth is much more dependable as an individual unit
than other parameter of measurement of a country's economic progress.
Nazrul Islam, a senior economist working for the United Nations, said environmental and social impact will have to be included while measuring the economic development.
Dr Sayema Haque Bidisha, a professor of Economics at DU, also spoke at the programme, presided over by Prof Siddiqur Rahman Osmani.