Bangladesh’s railway transport sector to lose billions of dollars

Bangladesh’s rail transport sector is set to lose more than $2 billion as part of a sweeping restructuring that has seen the country’s main railway operator cut nearly 2,500 jobs.

Bangladesh Railways (BTR) said in a statement on Monday that it would lay off 2,100 workers, most of whom are in the railway administration, at the end of the year.

It also plans to reduce staff by 300 employees and close about 1,800 stations, and it plans to lay off 3,000 workers, mostly in the railways administration.

The government said in January that it had cut 1,700 jobs in the transport sector by laying off 1,000 railway staff.

The government said the job cuts were to support the countrys railway sector.

A separate announcement from the government said it had also laid off 785 workers, or around half the workforce in the rail administration, and closed 810 stations.

Bangladeshi Prime Minister Sheikh Hasina has vowed to improve the quality of the country s railway and said in February that it will become a world-class train operator.

In January, the government announced a $1.5 billion fund for improving the quality and efficiency of Bangladesh s railway system, and has also announced an investment of up to $200 million to support its transport system.

Last week, BTR said that its revenue had declined by 2.9 percent in the year ended December 31, a decline that it blamed on the ongoing political crisis in neighboring Myanmar and the global financial crisis.

The government announced last month that it was cutting its capital expenditure and reducing its workforce by 1,500, and that it planned to layoff about 1.7 million workers in the coming year.