(CAW)

Short Term Solution:

•A More Practical and Skill-Based Education:

The first step towards eliminating educated unemployment would be to remodel the education
received by University Students. The primary incentive for students to pursue tertiary education
is to be better suited for a higher standard of employment. Currently, the education offered in our
universities is highly academic. Between 46 public Universities in Bangladesh[1],we are currently
producing thousands of graduates every year, yet so many of them remain unemployed due to a
lack of soft and hard skills relevant to their fields[2].
A policy will be made through UGC, so that all universities introduce basic skill course for all
graduates, and specialized practical skill courses relevant for a particular field.
Countries that have focused towards skill based education have seen a rapid decline in
unemployment. The US, the leading country in the world in providing skill based education, had
an unemployment rate of 8.3% in January,2012;as of January 2020 it is 3.6%[3].
We would also include beginner level technical skill learning opportunities at the secondary
education level, so that students of colleges and schools can also have a basic understanding of
technical skills necessary for jobs, as currently under 10% secondary students currently have
such opportunities[4].
Bridging the Quality Gap between Universities:
According to the UGC, Bangladesh currently has 46 Public Universities[1] whose goal is to
provide quality tertiary education to students. Yet, there are massive quality differences between
these universities. Among the root causes is the prioritization of universities when it comes to
budget allocation. According to the fiscal year reports of the UGC, the budget inequality between
universities is not only being maintained, but also increasing.

Figure 1 :Allocation of budget funds circa 2018-2019[5]

The Government will take steps to increase the quality of all aspects in Public universities. From
the quality of the teaching staff, the supply and maintenance of equipment; to the improvement
of infrastructure in and around these universities. As for Private Universities, the Government
and the UGC will set a quality standard with which all Private Universities will have to comply.
By taking these steps, the government will ensure that students of all universities have the same
skills and qualifications as well as opportunities when they graduate.
Long Term Solution:

•Lowering the cost of Enterprise and ensuring safety:

Due to a number of reasons such as: political instability, lack of access to finance, corruption,
inefficient bureaucracy; maintaining a firm in Bangladesh is not easy. According to Simon
Djankov’s “Ease of Doing Business Index”, Bangladesh ranks 168th as of 2018,with a grading of
“Below Average”[6].

Figure 2:Top obstacles towards enterprise in Bangladesh [7]

As the government, the first steps would be to create more jobs by making life easier for aspiring
businessmen. The government would allow easy and online registration of trade license and
would reduce unnecessary paperwork to smoothen the process of starting a business. The
government will also make credit available at low interest to small businesses, lower the
minimum amount of capital needed to start a business, strive to reduce the inefficiency of
administration, prioritize commodities like electricity and water so that the businesses can keep
functioning.

Tax reduction:
High taxation in an already economically vulnerable country is the bane of business. Bangladesh
currently has one of the highest corporate tax rates in Asia:25%[8]. This high tax rate discourages
people from business companies from trading in Bangladesh. The government would lower this
rate to a more acceptable amount. It would also help in creating more quality jobs; as more
international companies would be interested to do business in Bangladesh. A good example of
low tax rate and low unemployment would be Switzerland. With a moderate tax rate of
17.92%[9],Switzerland has an unemployment rate of 2.4%[10].
Encouraging Entrepreneurship:
In order to eliminate educated unemployment, the government will encourage entrepreneurship
by creating an entrepreneur-friendly economy. This will not only include government policy, but
also training programs for aspiring entrepreneurs, a regulatory framework, ease of funding and
capital for these entrepreneurs etc. By taking these steps, the government will create a
“Entrepreneurship Ecosystem”[11],a system which eases the process of entrepreneurship.

Figure 3:Chracteristics of Entrepreneurship Economy [11]

The Government will encourage entrepreneurship among university students and graduates at the
grassroots level, providing them with the necessary skills and know-hows of entrepreneurship
and ensuring the availability of monetary and technological support.
Sources:
1.http://www.ugc-universities.gov.bd/public-universities

2.Paul,B.P.(July 15,2018),Crisis of Skill And Soaring Unemployment,The Daily Star.

3.United States Bureau of Labour Statistics,www.bls.gov

4.Dewan,S.& Sarker,U(2017),From Education to Employability:

A Case Study of Bangladesh,(pp.15).

5.45th Annual Report(2018),Bangladesh University Grants Commission.

6. https://en.wikipedia.org/wiki/Ease_of_doing_business_index

7. https://www.enterprisesurveys.org/en/data/exploreeconomies/2013/bangladesh#finance
FITA. Retrieved 2013-02-04

8. https://tradingeconomics.com/bangladesh/corporate-tax-rate

9. FITA. Retrieved 2013-02-04.

10. Die Lage auf dem Arbeitsmarkt im Juni 2018 [The situation on the labour market in June
2018], State Secretariat for Economic Affairs SECO, Switzerland, 9 July 2018, retrieved 24
August 2018

11. Mason,C.and Brown,R(7th November,2013),ENTREPRENEURIAL ECOSYSTEMS AND

GROWTH ORIENTED ENTREPRENEURSHIP