The New Nation - Internet Edition

A.T.M.Nurun Nabi

Import leters of credit (L/Cs) for US $ 368.67 million were opened during September 1-6 period while L/Cs for US $ 277.86 million were setled according to a report of Bangladesh Bank released on September 12. The amount of outstanding L/Cs as on June 30 was 6365.87 million dollars. The report says that leters of credit for US $ 3860.98 million were opened for the period from July 1 to September 6 while L/Cs for US $ 3152.13 million dollars were setled.

It is observed that L/Cs for import of wheat amounted to US $ 18.02 million whereas for import of rice it is 6.06 million dollars, indicating a change of the importers' behaviour. L/Cs for import of sugar and milk powder amounted to 1.20 m 4 and 3.88 m $ respectively. Amount of L/Cs for some other items was as under in m dollar

Edible oil (refined) 0.02, edible oil (crude) 13.37, palm oil 8.83, dates 0.02, lentil 4.50, gram 3.67, onion 2.50, drugs and medicine 1.53, coal 0.20, cement 0.46, scrap vessels 6.14, news print 0.68, raw coton 13.57, fabrics (back to back) 32.36, accessories 10.27, yarn 10.93, pharmaceuticals raw materials 3.89, fertilisers 9.71 and capital machinery 13.30 and motor vehicles 7.62 only. In the year 2006-07, L/Cs were opened for US $ 17,451 m $ and setled for US $ 15,971.75 m $.

It appears from the figure of the setled L/Cs that the importers have been showing interest in retaining the past tradition. Surely it is a good sign. To build a sound economy demands an understanding between the government and the importers, on the one hand, and building up of a counter force, on the other hand. Bangladesh has potentialities to become a prosperous country and that could be done through joint forces only.

The Executive Director of ORBIS International Geoffrey Holland called on President Professor Dr. Iajuddin Ahmed at Bangabhaban. Country Director of ORBIS in Bangladesh Dr. Abu Raihan was with him.

Welcoming Geoffrey Holland, the President thanked him for visiting Bangladesh. He praised the role of ORBIS International, a flying eye hospital, for contributing significantly to the treatment of blind people, especially the poor, all over the world. President mentioned that the people of Bangladesh enthusiastically welcome the ORBIS activities here for providing ophthalmic treatment to blind people.

The Executive Director and the Country Director of ORBIS apprised the President of the activities of ORBIS in Bangladesh. They informed the President that ORBIS International is working here for the treatment of he blind people including prevention of child blindness, operating Eye Banking (cornea collection, preservation, distribution and plantation) and providing training to the eye physicians and nurses, It provides eye treatment through the National Institute of Ophthalmology (NIO), Dhaka Medical College Hospital (DMCH), Islamia Eye Hospital and 'Sandhani' in Bangladesh.

They informed the President that ORBIS Interantional is working Bangladesh since 1985 and till 2005 it visited Bangladesh for times. The country Director apprised that ORBIS has a plan to provide eye care to the slums people in urban areas through Government run Urban Primary Health Care Project He also informed the President about their plan to make collaboration with BIRDEM Hospital for providing Ophthalmologic treatment to the diabetic patients separately. They sought cooperation from the President in running their activities. The Executive Director of ORBIS International Geoffrey Holland thanked the President for giving time and hearing.

Press Secretary Abdul Awal Howlader and Asst Military Secretary to the President Lt Colonel Mamun or Rashid were present on the occasion.

The signing ceremony of the facility agreement for a syndicated term loan of Tk 273.32 million favouring R.A.K. Pharmaceuticals Pvt Ltd., under lead arrangement of Dutch-Bangla Bank Ltd., was held on Deptember 11, 2007 at its Head Office. Dutch-Bangla Bank Ltd., Pubali Bank Limited and Standard Bank Limited particpated in the Syndicated Financing.The project will be set up at an estimated cost of Tk. 546.64 million with Debt-Equity ratio of 50:50.

Managing Director of Dutch-Bangla Bank Limited, Managing Director of R. A. K. Pharmaceuticals Pvt Ltd., Managing Director of Standard Bank Ltd., and General Manager of Pubali Bank Ltd. signed the document on behalf of the respective institution. Additional Managing Director of Dutch Bangla Bank Limited, Sponsor Shareholders and CEO of R. A K. Pharmaceuticals Pvt Ltd. were present in the signing ceremony.

Senior executives of arranger bank, participating bank and R. A K. Pharmaceuticals Pvt Ltd. were also present in the signing ceremony.

With the syndicated facility, the project, in its first phase, will produce tablet, capsule, liquids, dry syrup, topical, sachet and injectable products, phases of various therapeutic groups including cardiac, psychotropic, neurological, ophthalmic and gastrointestinal categories and some GTC products. The project will bring in state-of-the-art technology. Production process would be housed in a custom-built factory building strictly in compliance with WHO delineated guideline of current Good Manufacturing Practices (cGMP). The Managing Director of Dutch-Bangla Bank Ltd., thanked the participating banks as well as R.

A. K. Pharmaceuticals Pvt Ltd. for their support in syndicating the loan for Tk.273.32 million.Mr. S.AK. Ekramuzzaman, Managing Director, R. A. K. Pharmaceuticals Pvt Ltd., thanked syndicate lenders and expressed his deepest gratitude for their support

Mosharraf Hossain, Managing Director, Standard Bank Ltd., M. Mustafizur Rahman, General Manager, Pubali Bank Ltd., A. H. M Zaker, Chief Executive Officer, R. A. K. Pharmaceuticals Pvt Ltd. also spoke on the occasion. The speakers highlighted various aspects of the project and wished its success.

Islami Bank Bangladesh Limited landed its Baralekha Branch as its's 182nd branch at Haji Abdul Ali Trade Center, South Hajiganj Bazar, Moulvibazar. On this occasion, a function was held at Haji Abdul Ali Trade Center on Sunday,

September 10, 2007. Abdul Jalil, Additional Deputy Commissioner (Revenue) was present as the chief guest and Bijoy Krisna Devenath, Barelekha Upazila Nirbahi Officer and Alhaj Abdul Malek, Chairman, Baralekha Municipality were present as special guests in the function.

Presided over by Dr. Shafiqur Rahman, Director of the bank the function was adressed, among others by Md. Azizur Executive Vice President and Zonal Head of Sylhet and Md. Shahid Ahmad, Assistant Vice President and Manager of Bianibazar Branch of the Bank and Md. Sirajul Islam, former Pariament Member, Guljar Ahmad Faku, Sectretary of Baralekha Businessmen

Association, Md. Azir Uddin, Senior Teacher of Mohammadia Ali Madrasah, Riajul Islam, Senior Teacher of PC High School also addressed the function on behalf of the clients.

Islami Bank organised a seminar on this occasion on Islamic Economics and Banking' on September 09, 2007 at Haji Abdul Ali Trade Center, South Hajiganj, Moulavibazar. Principal Mohammad Serajul Islam, Member Additional Secretary of Sahari'ah Council of the bank was present in the seminar as the chief disscussant Presided over by Md. Azizur Rahman, Excutive Vice President and Zonal Head, Sylhet of the bank the seminar was also discussed, among others by Faizur Rahman, Principal of Sujaul Alia Madrasah, Baralekha and Md. Hafizui Rahman, Principal (Acting) of Gangkul Fazil Madrasah, Baralekha, Moulvibazar.

On Thursday, the orientation program of the fresh students of the DIIT Dhanmondi & Kalabagan Campus was held on DIIT Dhanmondi Campus auditorium. In a pleasurable environment and in the presence of guests and the guardians, the students were given the reception.

The chief guest of the program was Mohammad Nuruzzaman, the Executive Director of DIIT. Among others, Dr. Md. Fokhray Hossain, the Academic Director and Md. Khaled Sohel, Deputy Director of DIIT & Rathindra Nath Das, Assistant Director of DIIT Kalabagan Campus were also present at the program.

The chief guest of the program in his speech, advised the students to concentrate on their study and also to become careful in career related facts. He suggested everyone to give importance to moral education. Dr. Md. Fokhray Hossain, the Academic Director of DIIT described the

importance of International Standard Education and highlighted on DIIT students and staff achievement, locally and globally. The program ended with the grand cultural program by the DIIT student's cultural association Spondon with the performance of the Rock Star Shuvo and Close up-1 artist Mehrab.

On Tuesday PRAN signed an export agreement of $ 2.04 million with it importer called Poultrade,Dakar, Sengegal. Hasan Mahbub, Chief of Pran Export & Wassim Hoballah of Poultrade signed the agreement on behalf of their respective companies.

During the signing agreement, Deputy Managing Director Ahsan Khan Chowdhury, Manager (Export) MizanurRahman and Product Development Manager Monirul Islam of PRAN-RFL Group" were present in the agreement signing ceremony.

Ahsan Khan Chowdhury said, PRAN as the largest food processor and exporter is doing very well in its export markets. Presently PRAN is operating its export business in Asia, Europe, Africa and Australia covering more than 66 countries.

Wassim Hoballah said that, PRAN product is geting more & more popular day by day in Senegal. And today we are signing an agreement to import PRAN Juices and drinks in tetrapak, can, plastic botles & confectionary items, but I hope we can make this kind of agreement for spice, pickle, jam, jelly and other products also.

Hasan Mahbub said. already we have got 170 products in our product lines which are being sold in local & export markets for the last 15 years. And in recognition of our export performance we achieved the best Exporter's Trophy for the last three consecutive years.

He also said, we are facing few problems in testing of our products before sending our products to EU countries as there are no such testing laboratory facilities in Bangladesh. On the other hand there is no designated authority to issue Health Certificate which is needed in different European countries for export Moreover high sea freight, high surcharge and port management also hamper the export business.

The Board of Directors of Grameenphone appointed Anders Jensen as the company's new Chief Executive Office (CEO). He will succeed Erik Aas, who is leaving the company, from October 1st, 2007.

Anders Jensen has since 2005 served as Chief Marketing Officer and Head of Consumer Market in Telenor Sweden.

He has eight years of experience from the Internet and telecommunications industry with Europolitan, Vodafone and Telenor, in addition to several years of experience working with fast moving consumer goods.

A Swedish national, Anders Jensen is 38 years old, married and has four children.

Grameenphone Ltd. is the largest telecommunications service provider in Bangladesh with more than 14 million mobile phone subscribers as of August 2007. A joint venture between Telenor (62%) of Norway and Grameen Telecom (38%) of Bangladesh, Grameenphone's nationwide network covers 98 percent of the country's population.