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Legal sector insights: Key terms of the labor market

Best Bangladeshi lawyers

Labor disputes are common in Bangladesh. Best Bangladeshi lawyers and top Bangladeshi law firm for NRBs provide the required support in all cases to solve the disputes.

Labor disputes come hand in hand with economic growth and industrial development. The reasons behind the common disputes are termination, low wages, derisory working conditions, and low benefits. The challenges are many. Here in this article, the definition of key terms of the labor market and disputes are explained along with for whom is the Labour Act 2006 in Bangladesh is applicable.

Labor:
The term labor refers to the collective workforce who is active in various economic activities and is contributing to the production of goods and services. In Bangladesh, a significant portion of the labor force is employed in agriculture, manufacturing, and services.

Factory:
A factory is a facility where raw materials are transformed into finished goods through various manufacturing processes. Most of the factories in Bangladesh fall inside textiles, garments, pharmaceuticals industries.

Industry:
Industry is a term that portrays the sectors in the production of goods or the provision of services. Bangladesh’s economy is dominated by textiles, garments, pharmaceuticals industries.

Managerial Capacity:
Managerial capacity is a term that covers leadership and directorial skills implemented to administer and control an organization. Effective managerial capacity is central for success. It is also vital to solve labor disputes.

Commercial Disputes:
Commercial disputes refer to disagreements or conflicts between parties involved in production of goods or the provision of services. It arises in the course of business activities. Business activities include issues related to contracts, transactions and / or employment. In the context of labor law, commercial disputes may involve conflicts between employers and employees regarding terms of employment, working conditions and / or benefits.

The term workers in the Labor Act 2006:
The preface to the Labour Act 2006 evidently suggests that the act applies only to “worker”. The term worker however is a wide one. This term is defined as a person, can be skilled or unskilled, who is employed in an administrative, labor aspect or managerial capacity on manual, technical or clerical work. It can be a factory, a shop, a commercial establishment. A worker can also be employed in the transportation sector.

There would be need of continuous adaptation of labor laws since Bangladesh’s economy is growing. Best Bangladeshi lawyers and Bangladeshi law firm for NRBs (in case the victim is currently living abroad) are there to assist. However the country needs more efficient professionals to address the evolving dynamics of the labor market.