Policy for proper use of HR Dev Fund approved
Published : Tuesday, 5 November, 2019 at 12:00 AM Count : 1226
The Cabinet on Monday approved the draft of the National Human Resource Development Fund Usage Policy 2019 to ensure proper use of the fund for creating skilled manpower.
The approval was given at the cabinet meeting held at the Prime Minister's Office (PMO) with Prime Minister Sheikh Hasina in the chair.
On May 15, 2016, the government created the fund and formed a new company under the Finance Ministry to operate it smoothly. Later on December 19 of the same year, the Cabinet approved a proposal to form a National Skill Development Authority to regulate the fund.
Briefing the reporters at the Secretariat after the meeting, new Cabinet Secretary Khandker Anwarul Islam said the policy has been approved for developing skilled manpower to accelerate the growing economy and meet the growing demands of local and oversees labour markets.
"If the fund is properly used a huge number of people will be turned into skilled manpower which will increase manpower export and thus help us achieve the sustainable development goals (SDGs)," he said.
The Finance Division has already established a bank named "National Human Resource Development Fund Bank" to oversee the allocation of fund among the public and private organizations, the Cabinet Secretary said.
The meeting also endorsed a proposal of ratification to waiver duel taxes between Bangladesh and Nepal under a treaty signed in March 5 this year. It will help the two countries to prevent taxes evasion.
The meeting reviewed the progress of implementation of the Cabinet's decisions of first quarters of this fiscal year (July 1 to September 30).
During the period, as many as 53 decisions were taken in only four cabinet meetings. Of them, around 31 have been implemented while the rest 22 are being implemented.
The Cabinet thanked Bangladesh National Cricket Team for its maiden T20 victory over India.