Developing nations including Bangladesh are significantly lagging behind the millennium development target due to the lack of science, technology and engineering education. Bangladesh as a least developing country has only 44 engineers per million people. Its technological education and gross domestic product growth are not collinear. Although limited progress was made in humanities, basic sciences, agriculture and medical sciences, a vast gap is left in technical and engineering education. This paper describes the present condition of engineering education in the country and explores ways to improve engineering education in order to meet the national as well as global skills demand. (Contains 3 tables and 7 figures.)