Federation of Bangladesh Human Resource Organization (FBHRO) has arranged a Strategic Dialogue (Webinar) with Business Leaders on ‘Proposed Pension Provisions for Private Sector Employees of Bangladesh’ on 26 July 2021. The Chief Guest of the webinar was Faruque Hassan, President of BGMEA, Managing Director of Giant Group, and Farooq Ahmed, Secretary General & CEO of Bangladesh Employers’ Federation (BEF), was the Guest of Honor. Besides, N K A Mobin, Managing Director & CEO of Emerging Credit Rating Limited (ECRL), Senior Vice-President of Dhaka Chambers of Commerce & Industry (DCCI), Dr. Md. Sabur Khan Chairman of Daffodil Group & Former President of Dhaka Chambers of Commerce & Industry (DCCI) and Mostafa Qamrus Sobhan, Managing Director of Dragon Group & Treasurer of Canada Bangladesh Chambers of Commerce & Industry (CBCCI) were special guests of the webinar.
In the welcome speech, Md. Musharrof Hossain, Founder & President of Federation of Bangladesh Human Resource Organization (FBHRO) mentioned, “After a long research on the pension provision for Private Sector Employees of Bangladesh FBHRO has formed a National Council for Proposed Pension Provisions for Private Sector Employees on the 1st week on May 2021 intending to work together on this matter, electing Professor Moinuddin Choudhury as the Cabinet Member. Federation of Bangladesh Human Resource Organization (FBHRO) is willingly promise-bound to assist the government in this context.” After that, guests of the webinar shared their thoughts, suggestions about Pension Provisions for Private Sector Employees and the webinar aimed to come out with effective initiatives on the pension scheme for private-sector employees.
Mostafa Qamrus Sobhan, Managing Director of Dragon Group said, “According to the statistics of the World Bank, around 70 million people of Bangladesh are working in various government & non-government job sectors, among them only 3% are government employees who are getting pension schemes. On the other hand, the rest 97% are non-government employees who are not getting any pension scheme. As the citizen of Bangladesh, both the government & the private sector employees have equal right for pension schemes. We all are aware that, Bangladesh is going to be included in the developing countries in 2024. Till if we cannot ensure any pension provision for our non-government employees that would be so disappointing, especially for the export-oriented sectors who are working day & night for the social-economic development of the country,” He also added “As there is no national pension scheme for the non-government employees in Bangladesh, few life insurance companies have brought some incredible schemes, such as – Sonali Life Insurance Provident Fund Pension Scheme (which is quite similar to Bangladesh Government’s pension scheme) and Gratuity Fund Scheme. If the private companies invest in this type of life insurances for their employees, then the employees can get a handsome amount at their retirement, which will make their retirement life less stressful.”
He added, “Due to pandemic covid-19, we have seen that a lot of industries have been shut down. Also, a huge number of people have lost their job and leading difficult life. In the future, we may face this type of crisis moments again. So, we should take a lesson from this situation. The industry owners need to take the responsibility of ensuring a secured present & future of their employees. Finally, I would like to say that pension provisions for private-sector employees are a demand of time. So, I believe that with the leadership of Prime Minister Sheikh Hasina, Bangladesh Government will start a mandatory pension scheme for the private sector employees through which the ample workforce will be benefitted.”