Number of foreign jobseekers down by 60 percent, remittance inflow likely to decrease

Mukanda Gaire / Kathmandu, June 28: Number of people taking approval for foreign employment has decreased by 60.3 per cent in the last 10 months in this fiscal year compared to the same period in the last fiscal year, according to the Current Macroeconomic and Financial Situation of Nepal released by Nepal Rastra Bank (NRB).

The number had decreased by only 2.7 per cent in the same review period in the last fiscal year.

Similarly, the number to renew the entry for the foreign employment also decreased by 49 percent in the review period. It had decreased by 24.6 percent in the previous year review period.

Economist Dr. Chandra Mani Adhikari, viewed that drastic fall in the number for foreign employment may affect the remittance inflow in future. He said that it may reduce foreign currency reserves and impact the balance of payment and the current account.

There may be a dearth of foreign exchange to import raw material and essential items for various projects.

He said that those seeking the foreign employment should be skilled and create employment opportunities for the returnees. He said that collecting the data who have returned and identifying their skills and utilizing them accordingly will help the economy.

There is a lack of people with skills and who are skilled don’t get work, and this situation has been persisting since long.

He said that the governments of the three levels should collect the data of skills and age of those who have returned. He said that employment can be created if the government has information on the number of people required in the agriculture sector, IT, industry, and cottage industry.

If the government facilitates the investment of skill and capability, it will help to solve the unemployment problem. Foreign employment agencies said that the foreign employment has been affected as the countries which are providing the employment have also been affected by the COVID-19 Pandemic.

The Nepali youths are being deprived as the Gulf counties are prioritizing the employees from those countries which have vaccinated their citizens, economist Adhikari said, adding, the government should manage vaccines especially for those who are leaving for foreign employment.

Foreign employment expert Dr. Ganesh Gurung said that 1500 to 2000 used to leave the country a day for foreign employment. However it has been affected. He said that the middle income group and labor group that were dependent on foreign employment have now been affected.

Gurung said that people dependent on India and the gulf have been largely affected.

He said that the government should provide vaccines for those who are seeking for foreign employment. He emphasized that the government should facilitate the development of skills to enable them to earn high income in the country.