In an official statement released on Sunday (August 20), Barrister Md. Sameer Sattar, the President of the Dhaka Chamber of Commerce & Industry (DCCI), lauded the introduction of the Universal Pension Scheme (UPS) as a timely and pivotal move aimed at establishing a comprehensive and sustainable social safety net to foster greater socio-economic advancement.
Sattar emphasized that this strategic initiative holds the potential to usher in a new era in Bangladesh’s economic landscape. The UPS, encompassing four distinct people-centric packages—namely ‘Pragati,’ ‘Surokkha,’ ‘Samata,’ and ‘Prabashi’—has been meticulously tailored to cater to diverse segments of society. These packages target a wide range of individuals, including private sector employees, non-resident Bangladeshis (NRBs), informal sector workers, and those belonging to low-income groups.
The DCCI President highlighted that the UPS has the capacity to encompass a substantial portion of society within its ambit, signifying a significant step towards inclusive development. One of the standout features of the scheme is the provision for the government to contribute 50 percent of the deposit for insolvent beneficiaries under the ‘Samata’ package—an aspect that Barrister Md. Sameer Sattar deemed remarkable and far-reaching.
Drawing inspiration from the successful implementation of similar schemes in various developed and developing economies, such as the Netherlands, Denmark, Germany, Australia, India, Canada, Iceland, and Switzerland, Sattar expressed optimism that imbibing operational and safety lessons from these nations could position the new scheme as a transformative force in driving the much-needed economic evolution in Bangladesh.
