The Bangladesh Economic Association (BEA) has welcomed the government move to introduce a universal pension scheme for people above the age of 60.
The body of economists thanked Prime Minister Sheikh Hasina to finally kick start the implementation of the much-anticipated initiative, reads a BEA press release issued on Tuesday.
Earlier in FY2020-21, during a pre-budget discussion with the finance ministry, BEA President Dr Abul Barkat had submitted a written proposal for a universal pension scheme.
The BEA, in its national budget proposal for the fiscal year, recommended an allocation of Tk5,000 to bring the country's senior citizens involved in the private sector under government welfare, added the release.
The platform comprising of some 5,000 Bangladeshi economists hoped that once officially started, the universal pension facility for the elderly will help improve the living standards of the general people.