Bangladesh in Freefall: A nation starves, jobless and in darkness as leader fumble

Bangladesh is spiraling into an economic abyss, with soaring unemployment, crippling food shortages, and an energy crisis that’s plunging the nation into darkness.

This report lays bare the harsh realities facing millions of desperate Bangladeshis, abandoned by a system that seems incapable of providing even the most basic necessities.

Unemployment Crisis: A Nation’s Workforce in Freefall

The unemployment nightmare in Bangladesh has reached catastrophic levels, crushing the hopes and dreams of millions. The latest Quarterly Labour Force Survey paints a grim picture of a nation in crisis, with unemployment skyrocketing by 5.6% year-on-year, condemning 2.64 million souls to joblessness in the second quarter of 2024. This staggering increase has pushed the unemployment rate to a devastating 3.65%, up from 3.41% in the same period last year. While more men find themselves without work, the marginal improvement in women’s employment is a hollow victory in a sea of despair.

In the July-September fiscal year, an alarming 83 companies completely shuttered their doors, a trend that threatens to dwarf the previous year’s closures. If this trend continues, countless more Bangladeshis will be cast adrift in an unforgiving economic storm.

The labor market’s contraction is nothing short of a tragedy. The overall labor force has shrunk by 1.3% year-on-year, now a mere shadow of its former self at 72.8 million. Even more heartbreaking is the 1.55% plummet in the employed population, leaving only 69.6 million with the dignity of work, down from 70.7 million a year ago. Behind these cold statistics are real people – fathers, mothers, and young adults – struggling to put food on the table and keep a roof over their heads.

As if to twist the knife, the number of people forced out of the labor force has swollen by 4.6% year-on-year, reaching a staggering 49.5 million. The dream of a better life through honest work slips further away as the labor force participation rate plummeted from 60.7% to 59.3%.

Once the lifeblood of Bangladesh’s economy, the garment industry now stands as a symbol of its decay. At least 79 factories have been shuttered amidst worker protests, each closure another nail in the coffin of Bangladesh’s economic hopes. The heart-wrenching sight of 10,000 desperate workers in Mirpur, Dhaka, blocking roads to demand three months of unpaid wages, is a damning indictment of a system that has failed its people. These are not just statistics; they are human beings, fighting for survival in a country that seems to have forgotten them.

Food Crisis: A Nation Starving While Leaders Feast

Bangladesh’s descent into hunger is nothing short of a national tragedy, with the 2024 Global Hunger Index exposing the government’s abject failure to feed its people. Plummeting to 84th among 127 countries, down from 81st just a year ago, Bangladesh’s so-called “moderate” hunger score of 19.4 is a slap in the face to millions of empty stomachs nationwide.

The grim reality is that a staggering 11.9% of Bangladeshis are slowly wasting away from malnutrition. But it’s the children, the most vulnerable and innocent, who bear the brunt of this catastrophe. A horrifying 23.6% of children under five are stunted, their bodies and minds permanently scarred by hunger. Another 11% are wasting away before our very eyes. Most heartbreaking of all, 2.9% of these precious lives are snuffed out before they even reach their fifth birthday – a damning indictment of a nation that can’t even protect its future.

Food inflation has spiraled out of control, turning even the most basic meals into luxuries. Once the staples of every Bangladeshi table, potatoes and vegetables now mock the poor with their exorbitant prices. The beloved Hilsa fish, a cultural icon, has become a cruel joke at over 2,200 Taka – a price that might as well be a million to the average citizen struggling to survive. In rural areas, the situation is apocalyptic, with food and medicine shortages leaving entire communities to fend for themselves in a Darwinian nightmare.

The egg crisis is the rotten cherry on top of this inedible cake. Bangladesh, once proud of its agricultural heritage, is now reduced to begging eggs from India. The pathetic sight of 231,000 eggs rolling across the Benapole border is a testament to the government’s incompetence in declaring eggs as an essential food item!. Their grand plan to import 40.5 million eggs is nothing but a band-aid on a gaping wound. Even with this intervention, each imported egg costs 7 Taka after customs duties – a price that turns a simple omelet into an unattainable dream for many.

As children go to bed hungry and parents skip meals to feed their families, one can’t help but wonder: how many more must suffer before Bangladesh’s leaders wake up to the starving masses at their doorstep?

Energy Crisis and Other Challenges

Compounding the economic and food crises, Bangladesh is grappling with severe energy shortages. Widespread load shedding has become adaily reality, with over 2,000 megawatts being cut due to insufficient fuel supplies. The situation worsened with the Barapukuria Thermal Power Plant shutdown in Dinajpur, leading to power outages lasting 8 to 10 hours daily in rural areas. Urban centers are not spared, experiencing frequent blackouts that disrupt daily life and economic activities.

The government’s incompetence reaches new lows as it fails to pay its bills, forcing Adani Power to cut electricity supply from 1,500 MW to a pitiful 1,000 MW. The $800 million owed by Bangladesh Power Development Board to Adani is a glaring testament to the administration’s financial mismanagement, leaving millions to suffer in the dark while bureaucrats fumble for excuses.

As if this weren’t enough, the specter of industrial disasters looms large. The explosion at the SN Corporation shipbreaking yard in Sitakunda, Chittagong, is a bloody reminder of the price workers pay for lax safety standards. Two lives snuffed out, countless others maimed – yet another tragedy in a country becoming numb to suffering.

Political violence continues to tear at the fabric of society. The senseless shooting of a day laborer in Dinajpur and the politically motivated murder in Bogra paint a picture of a nation teetering on the brink of chaos. 

Bangladesh stands at the precipice, facing a perfect storm of crises threatening to sweep away decades of progress. The government’s feeble attempts to address these issues—importing eggs and mulling over policies—are like trying to plug a dam with Band-Aids. As millions of Bangladeshis struggle to survive, one can’t help but wonder: How much more can a people endure before the breaking point is reached? The clock is ticking, and the world watches as Bangladesh teeters on the edge of an abyss of its own making.

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