News Desk: When the country’s trade and commerce began to cope with the first shock, new ideas have emerged again. The government is imposing new restrictions as corona infections increase. As a result, the foreheads of businessmen, employees and working people have started to fold. Their condition is due to the experience of difficult times during April-May-June last year. Infections in the corona are increasing, the number of people in the group is increasing.

Agencies such as the World Bank have already hinted that the new push is creating uncertainty in Bangladesh’s economy. The turnaround of the economy since last June is unsustainable. This was stated in a report on South Asia last Wednesday.

Sumon Mahmud, a motorcyclist from Uber, spoke at the Kawla bus stand on Airport Road in the scorching sun on Thursday afternoon. Sumon Mahmud used to work as a salesman in Gulshan Agora. He left his job last August. He bought an old motorcycle with the money he had saved to run his family and went down for ride sharing. Excluding all expenses, the family is earning around 500-600 tk per day.

But the government has stopped ride-sharing like Uber-Pathao for two weeks due to increased corona infection. Sumon Mahmud is in trouble. He came out with a motorcycle due to stomach upset. “There is no way out,” he said. Excluding apps, I am going on contract rent. The law enforcers stopped such riders on the way and filed a case. Still, I’m taking risks. ”

Thus, with the risk of corona, many Uber-Pathao drivers have come down to the source of income. Not only Uber drivers like Sumon Mahmud, but also day laborers, saloon workers and restaurant workers have been scared again. Last time experience showed that this class of people suffer the most.

Overall, Corona’s new wave is sounding alarming in the economy. Let’s see what can happen. Stricter restrictions could affect almost every sector of the economy. In the second push of the corona, various countries of Europe went into lockdown again. As a result, the demand for readymade garments in Bangladesh has also decreased. Exports are not the same as before. Expatriate income may be hit hard. Because, due to Corona, the number of workers going abroad has decreased a lot in a year, but many are not able to go back to the country again. The country’s small traders may be in danger again.

Selim Raihan, executive director of the South Asian Network on Economic Modeling (SANEM), a private research institute, said, ‘The economy is in the process of recovering. This recovery process is at risk of a major setback due to the new wave of corona. The garment export sector could be the hardest hit, ”he said, adding that small and medium enterprises were trying to turn around despite not getting the desired government support. But this push can get in their way.

The second wave of corona has started to affect Bangladesh’s exports. It was not possible to achieve the export target for these three months from last December to February. Ordinary clothing purchases have declined mainly due to lockdowns in various European countries. As a result, the overall export of Bangladesh has also decreased. In those three months (December, January and February), as the export target was not achieved, the volume of exports also decreased compared to the same period of the previous year. But when the factory started opening in full swing last June, exports also started to increase. As the export target for the first five months of the financial year was achieved, more goods were exported than the previous year.

Officials in the garment sector say, “If everything is shut down again like before, exports could collapse.” Because, in the past, everything was closed in almost all countries of the world. But now our rival countries, including Vietnam, have opened factories. ‘

Expatriate income is one of the major strengths of Bangladesh’s economy. Although the first push of Corona did not reduce the expatriate income, the number of workers going to different countries including the Middle East has decreased. As a result, expatriate income has started declining on a monthly basis. In the second push, the situation may get worse. A report by the Refugee and Migratory Movements Research Unit (RAMRU), a private research institute, found that by November 2020, the number of migrant workers had dropped by 71 percent compared to the previous year. This has also affected the expatriate income. From last September to February, the expatriate income has continuously decreased as compared to the previous month. However, Corona’s income has increased compared to before. Remittances to legitimate channels have increased, mainly as a result of the 2% cash incentive.

According to the Ramru report, workers have been repatriated to the Middle East due to falling oil prices in the Middle East, collapse in tourism and services. About 1 lakh workers could not go back. From April to August, sending workers abroad was stopped.

In this situation, if another push comes from Corona, there is a great fear that the income of expatriates will decrease including sending workers abroad. Because, in the second push of Corona, the local and foreign entrepreneurs of those countries will not be interested in new investment in different countries including the Middle East. As a result, the demand for foreign workers may also decrease.

The country’s small, medium and medium enterprises are most at risk due to corona. According to the Bangladesh Bureau of Statistics (BBS), there are now about 42,000 such factories across the country. These sectors account for 35 percent of the country’s employment. The sector is most likely to suffer the second blow from the corona. Many have suffered losses in the first push. Now trying to turn around a bit.

Asked what the overall plan should be for dealing with Corona, Sanem’s executive director Selim Raihan said some incentives have been given to deal with Corona immediately. But there is no clear plan of action including poverty alleviation, employment, investment. Even in the Eighth Five-Year Plan, the policy makers did not have any special interim plan. There needs to be an overall action plan to deal with such economic risks.