The New Nation - Internet Edition

UNB, Dhaka

A new list of 80 high-profile suspected corrupt persons including senior politicians, businessmen and bureaucrats was made available on Thursday from unofficial sources. Anti-Corruption Commission (ACC) Secretary Mokhles ur Rahman told UNB lastnight that they have not yet received any such list officially. But official sources told him that a new list will be handed over to the ACC by Sunday.

The list came four days before the end of September as the government decided not to publish any new list of suspected corrupts. With the new names of 80 suspected corrupt persons, the total number of alleged "corrupts" rose to 222. A few of them has already been tried and jailed by special anti-corruption courts.

The new list contains the names of Awami League leaders Syeda Sajeda Chowdhury, Tofail Ahmed and Kazi Zafrullah, BNP leaders Dhaka Mayor Sadek Hossain Khoka, Khulna Mayor Sheikh Tayebur Rahman, former state minister Maj (retd) Kamrul Islam, former Deputy Minister for Food Asadul Habib Dulu, former BNP MP Syed Mehedi Ahmed Rumy and former BNP MP and ex-Red Crescent Society chairman Shahidul Haque Jamal. prominent businessmen Latifur Rahman of Transcom, Abdur Rouf Chowdhury of RANGS Group, Abdul Matlub Ahmed of Nitol Group and Abul Khair Litu of Bengal Group.

Others who are reportedly on the list include former BNP ward commissioner Nobiullah Nobi, former BRTC chairman Taimur Alam Khandaker, BNP leader from Rajshahi Shis Mohammad, former BNP MP Shahidul Islam, former BNP MP Abul Khair Bhuiyan, former MP Dr Dewan Salauddin, former state minister for Energy AKM Mosharaf Hossain, Ward commissioner Saidur Rahman Shahid, former BNP MP Fazlul Haque Milon, former Finance Minister Saifur Rahman's son Shafiur Rahman Babu, DCC ward commissioner Salimullah Salu, former MP Abdul Gafur Miah, Srimongal pourasava chairman Mohsin Miah alias Modhu Miah, former BNP MP Ilyas Ali, former BNP MP Professor Zoynal Abedin alias VP Zoynal, former BNP MP Sarder Sakhawat Hossain Bakul, Awami League presidium members Syada Sajeda Chowdhury, Tofail Afmed and Kazi Zafarullah, AL leader AKM Jahangir Hossain, former MP Mirza Abdul Latif, AL leader Shawkat Hossain Hiron, former Chhatra League presidents Ishaq Ali Khan Panna and Enamul Huq Shamim, former chief whip Abul Hasnat Abdullah's son Sadek Abdullah, Dhaka City AL acting president Rahmat Ullah, former Jatiya Party MP Nasim Osman, former JP MP Moshiur Rahman Ranga, Liberal Democratic Party presidium member Professor Jahanara Bagum, former BNP MP Mohammad Ali Zinnah, Jamaat leader Maulana Samiul Huq Farooqi of Gazipur, former Islami Bank chairman Meer Kashem Ali, former Law secretary Alauddin Sarder, former Communication secretary Rezaul Hayat former Prime Minister Khaleda Zia's APS Abdul Matin, former Prime Minister Khaleda's APS Shamsul Alam, former Prime Minister Khaleda's protocol officer Faridul Islam, former Prime Minister Sheikh Hasina's APS Alauddin Nasim, former DC of Bogra and Director General of Disaster Management Rafiqul Mohammad, former additional chief engineer of Roads and Highway Khondoker Azadur Rahman, former additional chief engineer of Roads and Highway Giusuddin Tulu, former chief engineer of Roads and Highway Fazlul Haque, former Public Service Commission member Musleuddin, former chief Engineer of Department of Education Engineering Abdul Mannan, chairman of Bengal Group Abul Khair Litu, managing director of Eastern Group Manzurul Islam Babu, businessman Anis Ahmed Guki, businessman Shawkat Hossain of Chitagong, chairperson of Prashika Dr Kazi Faruque Ahmed, chairman of RANGS group Abdur Rouf Chowdhury, chairman of Nitol Group Abdul Matlub Ahmed, chairman of Jubok Abu Sayeed Chowdhury, chairman of Transcom Latifur Rahman, former Adviser of Caretaker Government Justice Fazlul Haque, Engineer Aftab of Reza Construction, Civil Aviation Authority chief engineer Harunur Rashid, former Director General of Agricultural Extension Department Ibrahim Khalil, former director general of Drug Administration Professor Habibur Rahman, former assistant general manager Bangladesh Bank Golam Mostafa, CBA leader of Rajuk and Amir Khasru, executive engineer of DCC Syed Mozaffar Hossain, former managing director of Essential Drugs Harunar Rashid, former managing director of Teletalk M Obaidullah, divisional Engineer of T and T Mohammad Towfiq, former deputy director of Agricultural Extension Department Javed Iqbal, officer of Water Development Board Zahirul Karim, additional Commissioner Golam Mostafa, National Board of Revenue member Ali Ahmed, Hazi Aminul Haque Shamim, owner of Momen Construction Abdul Monem, managing director of Bangladesh Gas Field Company Shahidul Abedin, Abdul Awal Talukder of Talukder Money Exchange, businessman of Narsingdi Abdul Quader Molla and former Bangabhaban official assistant secretary Nasir.

Staff Reporter

Chief of Army Staff General Moeen U Ahmed yesterday said the Armed Forces would return to barracks whenever the Government would ask them to do so.

He said the Army was helping the people as well as the Government to face all odds courageously.

Praising the sagacity of the people in all odds, Gen Moeen said, "The nation faced the recent devastating floods with courage and fortitude and the army would remain alongside the countrymen whenever it is necessary."

He said this while inaugurating Manikganj Tanti (weavers) Palli and Tant Bastra Mela (handloom fair) and distributing seeds and late-Aman paddy seedlings among flood-affected farmers at Savar Cantonment

When journalists, on sideline of the programmes, sought his reaction about the TI's Perception Index's new rating of the country, Gen Mooen said, "Its sounds good in the midst of all odds. Next year the rating may be beter."

Expressing the hope that Bangladesh would be a corruption free country in the near future if the ongoing anti-graft drive continues, he said Singapore, which was a seriously corruption-ridden country when it achieved independence, has now atained higher stage of development as it was able to successfully fight out corruption.

Urging all to join close ranks together against graft, the Army Chief said there is no reason as to why Bangladesh would lag behind in fighting corruption.

Referring to the on-going anti-corruption drive of the Government, he advised the people to wait for some time to derive its benefits.

While distributing seeds and paddy seedlings among farmers, he said "We need to be self-reliant by recovering the losses caused by floods through massive cultivation of crops even on the fallow lands."

The 9th Infantry Division of Savar Cantonment organised the function to distribute seeds and seedlings at manikganj Police line. Seeds of Mashkalai, maize and vegetables were also distributed on the occasion. Gen Moeen U Ahmed atended the programme as Chief Guest

The GOC of 9th Infantry Division Major General Ashab Uddin, Deputy Commissioner of Manikganj Mohammad Ataur Rahman, Police Super Imtiaz Ahmed as well as senior military and other officials were present on the occasion.

The late Aman seedlings grown on 10 acres in Savar garrison are being distributed among the farmers of Madaripur, Dhaka and Narayanganj that will benefit about 670 families.

Gen Moeen said the Army personnel for the first time produced seeds on their own initiative and distributed them free of cost among the flood-hit farmers of Madaripur, Narayanganj, Dhaka and Manikganj districts. "Our efforts will continue in future also," he said.

He thanked the people for keeping their morale high even during this year's second flood and stressed the need for maintaining strict surveillance to ensure easy availability of fertilizer and other inputs including diesels on time.

He said after this Government took the responsibility, the total electricity generation increased to 4200 MW from 2800 MW due to beter management He also talked to the farmers.

On this occasion, President of Bangladesh Knitwear Manufactures and Exporters Association (BKMEA) Mohammad Fazlul Haque donated Taka 300,000 to support the programme.

Later, General Moeen inaugurated Manikganj Tant Palli and Tant Bastra Mela' at Mota village under the pourashava as the Chief Guest The district administration in collaboration with the Joint Forces and the Manikganj Tanti Kalyan Samity is organising the fair.

In his inaugural address, General Moeen U Ahmed said the farmers as well as the weavers were oppressed by the middlemen and suggested them to work hard for achieving self-reliance.

He announced Taka 200,000 as grant for the Tanti Kalyan Samity, from where the weavers could take interest-free loan. He also urged the weavers to make the best use of their bank loan and repay it timely.

The Army Chief told the weavers of Manikganj that arrangements have been made to rehabilitate them in the government khas lands. Rehabilitation of more weavers is on the card. Arrangements are also underway so that the weavers can stand on their own feet by their own efforts.

Presided over by the Deputy Commissioner Mohammad Ataur Rahman, the function was also addressed by President of Tanti Kalyan Samity Abdul Karim.

UNB, Dhaka

British High Commissioner in Dhaka Anwar Choudhury Thursday said Bangladesh has got a chance of seting a new trend of enduring democracy through a free and credible election. "I see the country is at the transition, at a crossroad" that may take it to the road of fast growing Asian economies like Kuala Lumpur. The envoy made the remarks at an iftar party at Dhaka Club hosted by the Commonwealth Journalists Association (CJA) Bangladesh Chapter. Choudhury said Bangladesh has great potential and the country could be taken to a new height in next 10 years with vision and determination of the people.

He said Britain feels proud of Bangladesh being a democracy, but there are challenges that could be overcome through concerted efforts by all.

Referring to common values among the Commonwealth countries, the envoy said language, tolerance, democracy, human rights and the freedom of expression bind the members of the commonwealth together. He said the members of the CJA could project those values in correct perspectives to atain common goals and common benefits. The High Commissioner said Britain is going to launch a 100 million dollar English Learning Project for students from 2009 so they can have access to modern education and technology. Earlier, CJA Global President Hassan Shahriar gave a brief resume on activities of the CJA. Mizanur Rahman Shelly, chairman of Center for Development Research Bangladesh, and CJA Bangladesh president Farid Hossain also spoke on the occasion.

Editors and senior journalists atended the iftar and exchanged views on present political developments in Bangladesh.

Staff Reporter

Bangladesh Bank (BB) is preparing a short-list of the potential buyers to sell shares worth Tk 4.0 billion (US$ US$58.22 million) of Oriental Bank Limited.

Six parties from home and abroad earlier submited expression of interests (EoI) to purchase shares of the troubled bank but only short-listed bidders will be contacted for taking part in the bidding process, sources in the central bank said. The short-list will be prepared after scrutinising the EoIs on the basis of 'Fit and Proper Test' method of BB.

BRAC Bank, Summit Group, a local business group, Domestic Investor Consortium, a forum comprising local commercial banks and non-banking financial institutions, the United Kingdom-based East Invest Private Equity Limited, ICB Financial Group Holdings of Switzerland and Haton National Bank of Sri Lanka have submited EoI.

The Oriental Bank that faced a severe financial crisis was taken over by the central bank, which dissolved the bank's board of directors, removed its managing director, and appointed an administrator to run the bank temporarily.

The bank started its operation on May 20, 1987 under the name of Al Baraka Bank Bangladesh Limited. It is now running its business through 30 branches across the country where a total of 713 employees are engaged at different levels.

BSS, Dhaka

The work on preparing a fresh voter list with photographs and national identity cards will begin in Dhaka City Corporation (DCC) area on December 1.

Election Commissioner Brigadier General (retd) M Sakhawat Hossain said this while talking to journalists after atending an inter-ministerial coordination meeting on Thursday in the Election Commission office at Sher-e-Bangla Nagar here with Chief Election Commissioner (CEC) Dr ATM Shamsul Huda in the chair.

It would take two and a half months to complete the task, Sakhawat said, adding, the EC is expecting to complete the voter list as well as the national ID cards in the DCC area within February 7 next

As per the last voters list, the number of voters in the DCC area is 40 lakh, he informed the reporters.

He said necessary cooperation has been sought to the related ministries, divisions and department in this regard.

The EC requested the education ministry to take necessary steps for holing year-final examination of schools and colleges in the city before the date as voter registration centres will be set up at the schools and colleges.

Replying to a question, the commissioner said the preparation for holding the DCC election would begin just after completion of the work on the voter list EC would hold meeting with Dhaka City Mayor and ward commissioners in this regard, he said.

Election Commissioner Muhammad Suhul Hossain, Local Government Division Secretary Safarraj Hossain, Secretary of the EC Secretariat Muhammad Humayan Kabir, Secretary to the Army Headquarters Major General Shafiqul Islam, additional secretary of the Home Ministry Sheikh Abdur Rashid, joint secretary of the Education Ministry Mohammad Shafiullah, Dhaka Divisional Commissioner Ikram Ahmed, BDR Official Lt Colonel Mohammad Abu Tasnim, chief executive officer of DCC Saifuddin Ahmed and director of Photo Voter-list and National Identity Card Project Brigadier General (retd) Shahdat Hossain were present at the meeting, among others.

Reuters, Yangon

Troops cleared protesters from the streets of central Yangon on Thursday, giving them 10 minutes to leave or be shot as the Myanmar junta intensified a two-day crackdown on the largest uprising in 20 years.

At least nine people were killed, state television said, on a day when far fewer protesters took to the streets after soldiers raided monasteries in the middle of the night and rounded up hundreds of the monks who had been leading them.

One of dead was a Japanese photographer, shot when soldiers cleared the area near Sule Pagoda -- a city-centre focus of the protests -- as loudspeakers blared out warnings, ominous reminders of the ruthless crushing of a 1988 uprising.

About 200 soldiers marched towards the crowd and riot police clatered their ratan shields with wooden batons.

"It's a terrifying noise," one witness said.

The army, which killed an estimated 3,000 people in 1988, moved in after 1,000 chanting protesters hurled stones and water botles at troops, prompting a police charge in which shots were fired and the Japanese went down.

Soldiers shot dead three more people in a subsequent protest outside the city's heart as crowds regrouped and taunted troops. Their bodies were tossed in a ditch as troops chased fleeing people, beating anybody they could catch, witnesses said.

Another Buddhist monk -- adding to the five reported killed on Wednesday when security forces tried to disperse huge crowds protesting against 45 years of military rule -- was killed during the midnight raids on monasteries, witnesses said.

Monks were kicked and beaten as soldiers rounded them up and shoved them onto trucks. Some of the monasteries were emptied of all but the very old and sick, people living nearby said.

The raids were likely to anger Myanmar's 56 million people, whose steadily declining living conditions took a turn for the worse last month when the junta imposed swinging fuel price rises, the spark for the initial, small protests.

"Doors of the monasteries were broken, things were ransacked and taken away," a witness said. "It's like a living hell seeing the monasteries raided and the monks treated cruelly."

After darkness fell and curfew hour loomed, sporadic bursts of automatic rifle fire echoed over the city of five million people.

Elsewhere in the former Burma, the Hong Kong-based Asian Human Rights Commission said it had received reports of a big demonstration in the northwest coastal town of Sitwe, as well as incidents in Pakokku, Mandalay and Moulmein.

Details were sketchy.

It was unclear whether the protests in Yangon would regain momentum in the absence of the clergy, whose marches drew large numbers into what has become a head-on collision between the moral authority of the monks and the military machine.

The junta, the latest incarnation of a series of military regimes, sent in the troops despite desperate international calls for restraint

It told diplomats summoned to its new jungle capital, Naypyidaw, "the government was commited to showing restraint in its response to the provocations," one of those present said.

But international anger mounted sharply, despite the junta's long track record of ignoring the outside world. The generals have managed to live with tough sanctions from the United States and lesser ones from Europe for a decade.

Even China, the closest the isolated junta has to a friend, said it was "extremely concerned about the situation in Myanmar." The Foreign Ministry urged all parties to "maintain restraint and appropriately handle the problems that have arisen."

The White House demanded an end to the crackdown, and the European Union said it was looking urgently into reinforcing sanctions in response to the crackdown, which has already drawn more sanctions from the United States.

U.S. Secretary of State Condoleezza Rice called it a "tragedy" and urged the generals to allow a U.N. envoy to visit and meet detained pro-democracy leader Aung San Suu Kyi.

"The regime has reacted brutally to people who were simply protesting peacefully," Rice said during the U.N. General Assembly in New York.

U.N. Secretary-General Ban Ki-moon said he would dispatch special envoy Ibrahim Gambari to Southeast Asia in the hope the generals would let him in. U.N. sources said Gambari was heading to Singapore to try to get a visa.

However, in a sign of rifts within the international community at an emergency U.N. Security Council meeting, China ruled out sanctions or an official condemnation of the use of force.

Staff Reporter

The Anti-Corruption Commission (ACC) has given the approval to submit charge sheets in more nine corruption cases filed against alleged corrupt politicians, including former Prime Minister Begum Khaleda Zia's parliamentary affairs secretary Salahuddin Quader Chowdhury, Awami League leader Dr HBM Iqbal and BNP-backed trade union leader BM Bakir Hossain.

The other politicians, to be charge-sheeted, include former MPs Md Hafiz Ibrahim, M Rashiduzzaman Millat, Md Nasir Uddin Ahmed Pintu of BNP Shajahan Chowdhury of Jamaat-e-Islami, former conservator of forests M Anwarul Islam and DCC Ward Commissioner M Alam Chowdhury of BNP.

Along with them, charge sheets will also be given against the wives of HBM Iqbal, BM Bakir Hossain, Nasir Uddin Pintu and Rashiduzzaman Millat and his son.

ACC Secretary Mokhles-ur-Rahman disclosed this at the regular press briefing held at the Commission Bhaban yesterday. He said all the charge sheets would be submited to the court immediately.

The ACC Secretary said the commission issued notices to three more persons to submit their wealth statement to the commission within seven working days of the receipt of the notice.

Those who were issued notices include former Chhatra League president Liakat Ali Sikder, Zia Uddin Ahmed Majumder (Jewel), son of former MP Kamal Ahmed Majumder and M Nazim Uddin, Chairman of Subhadaya Union Parishad under Keraniganj upazila in Dhaka.

Of the listed 142 persons, 138 were issued notices to submit their wealth statement on Wednesday and issuance of notice to another person is under process, he said.

Mokhles-ur-Rahman said the ACC has so far submited 71 FIRs in different police stations. Of these, verdicts in 12 cases have already been given by the courts after hearings, 23 cases remained at the stage of taking deposition while 36 cases are under investigation.

He said the Commission has taken decision to file non-submission case against Dr Firoz Mahmud Iqbal, assignment officer of former Prime Minister Begum Khaleda Zia, for defiance of the ACC notice to submit his wealth statement

The ACC secretary said the commission also has taken step to vacate the High Court order on a writ petition of Kazi Mosharraf Hossain, a CBA leader, challenging the ACC notice served on him to submit wealth statement

Replying to a question, he said the appointment of investigation officer (IO) in the graft case against Tarique Rahman, his wife and mother-in-law is under process.

Staff Reporter

Speakers at a view exchange meeting yesterday said that efforts of puting the last nail in the coffin of jute industry is going on and this will be destructive for the national economy.

They said the so-called reform of the jute sector and leasing-out of the eight jute mills will be suicidal.

Peoples Commission on Jute and Jute Industry organised the view exchange meeting with Justice Mohammad Golam Rabbani in the chair.

Under the 1993 agreement with the World Bank the government has already earmarked eight jute mills to lease out The government also decided to shutdown four jute mills, which will render nearly 21 thousand workers jobless.

Engineer Sheikh Mohammad Shahidullah, Mamunur Rashid, Prof MM Akash, Prof Dr Shamsul Alam, Economist Dr Abul Barkat, Shah Alam, among others, spoke on the occasion.

Justice Mohammad Golam Rabbani said natural fibre jute can be 'diamond of future', if proper policy and effective techniques were followed.

He said state-owned jute mills would be abolished within the next 2 to 3 years if the ongoing reform of jute sector continues.

Terming the agreement with the World Bank in 1993 damaging for the jute sector Justice Rabbani said implementation of the accord leads the industry to destruction.

He put forward some proposals to save the jute industry from damaging that includes cancellation of jute sector reform programme, cancellation of leasing-out of eight jute mills, cancellation of the jute sector reforms agreement of 1993 and measures taken under the agreement

Engineer Sheikh Mohammad Shahidullah said the World Bank's collaborators in Bangladesh did not give scope to build up national capital in Bangladesh, which was built up in neighbouring India.

He said the collaborators are not helping industrialisation in Bangladesh.

"Capitalists in Bangladesh know how to plunder, they do not understand production, he said.

Shahidullah said it is a proved reality that Bangladesh's jute sector cannot run under private sector.

"We have to unite people to save the jute sector," he added.

Dr Abul Barkat said economic development and prosperities of Bangladesh could stand on jute economy if it can be established.

Denouncing the main component of 1993 agreement with the World Bank of appointing foreign consultants, he said Bangladesh is having many more experts of its own on jute sector.

"We have enough expertise on jute sector, we do not need to pay consultancy fee through taking loan," he said.

Prof MM Akash termed the Word Bank suggestion on privatisation as wrong for Bangladesh.

It was not proved here that privatisation can make the industry profitable, he said.

Staff Reporter

Imprisoned former Prime Minister Begum Khaleda Zia and her two sons-Tarique Rahman and Arafat Rahman yesterday moved the High Court challenging the legality of invoking Emergency Power Rules (EPR) in corruption cases against them.

Placing the cases under EPR has debarred them from seeking bail until disposal of the cases. The separate writ petitions are likely to come up for hearing on Sunday, said the counsel for Begum Zia, who is the Chairperson of the BNP.

Begum Zia and her younger son Arafat Rahman Koko were accused by the Anti-Corruption Commission of favouring GATCO with a contract to accrue financial benefits of Tk 2.20 crore by abusing the power and thus inflicting a loss of Tk 1,000 crore to the State.

The ACC in a separate case accused her eldest son Tarique Rahman, for amassing huge unearned wealth and concealing it in the wealth statement he had submited to the anti-graft body.

Tarique's wife and mother-in-law were also implicated in the case in conniving with him to protect the illegal wealth.

Begum Zia's chief counsel Barrister Rafiqul Huq filed the writ petitions arguing that the invoking of EPR in cases relating to incidents that took place before the promulgation of the state of emergency was not legal.

Besides, detained former BNP ministers Barrister Moudud Ahmed and Barrister Nazmul Huda also filed separate writ petitions challenging the ACC notices asking them to submit statement of wealth to ACC.

Staff Reporter

Bangladesh software development industry reached an important I milestone a few days ago. Application software, Groupcare. Net, developed by a Bangladeshi company, PyxisNet Ltd, passed the series of tests to qualify for the Microsoft "Platform Text for Hosted Solution" programme.

More than two years in making this software was designed, developed, and tested entirely by software engineers at PyxisNet This is the first time ever that any software developed in Bangladesh has been certified by Microsoft Groupcare.Net is a web-based collaborative software, developed on Microsoft's Net platform, that allows users to form a community of interest groups across the globe. These groups can then exchange mail, store files, share calendar, invite participants, conduct polls.

"It is a rare honour not only for our company, but for Bangladeshi IT industry," says Ali Ishtiaq, Managing Director of PyxisNet

"It is an acknowledgement by the world's largest software company that our software development industry is mature and capable of producing software that meets the standards and demands of the international IT community. This software is being deployed to replace a legacy system which currently has half a million users. We are justly proud of such an achievement"

Staff Reporter

Economists at a publication ceremony in the city yesterday laid emphasis on taking urgent steps to build confidence among the country's business community to reduce the present inflationary pressure.

They observed that inflationary pressure would somewhat go down if a business-friendly environment could be created keeping the businessmen and traders above all kinds of fear and intimidation.

At the same time, the government would have to think about the relief and rehabilitation of the flood-affected poor people who have become the main victims of growing inflation.

"It will be very difficult to prevent a social disaster if the social safety net cannot be strengthened," they said.

Terming the unusual price hike of essentials as a 'human disaster,' they observed that thousands of people in both rural and urban areas of the country would go down the poverty level by losing their purchasing power due to growing inflationary pressure.

Speaking on the occasion, former Finance and Planning Adviser of the caretaker government Dr Akbar Ali Khan yesterday said he was observing some ominous signs in the country's overall economy as the price of essentials goes beyond the purchasing power of common people that might result in a serious 'human disaster.'

"It's not only an economic problem, but also a humanitarian problem," he said while speaking as chief guest at the publication ceremony of 'Bangladesh Economic Outlook,' an analytical survey report prepared by Shamunnay, a center for research and development

Dr Khan said the ongoing inflation might take serious turn in the days ahead. "The low income group of people of the country may seriously be affected due to the rising trend of inflation," he said.

Executive Director of BRAC Dr Mahbub Hossain was present as special guest

Dr Khan criticised the caretaker government for the current measures to control the price hike of essentials in the market He said many governments in many countries, including the United States in 1970s, had tried to control the market in the same way Bangladesh is trying now, but they had all uterly failed.

"We're trying to implement a failed theory to control the market," Khan, an economist and a former finance secretary, said.

He also said the private sector was the main driving force of Bangladesh's economy, without involving which economy could not

run smoothly.

In the context of post-flood rehabilitation programmes, the former adviser suggested to ensure food security by building up food-grain stock through constant imports.

Besides, efforts should be made to remove fears from the mind of businessmen and extend all kinds of cooperation to them to import essentials from abroad.

Dr Khan also called upon people to give up the traditional thinking of price hike of essentials to check inflation.

The former adviser said the economic growth would decline fast due to inflationary pressure, which is a mater of serious concern.

Noted economist Dr Atiur Rahman, who is also the chairman of Shamunnay, presented the results of the survey report at the function.

Besides, Dr Selim Raihan, assistant professor of the Department of Economics presented the results of the analytical research.

Dr Atiur Rahman said poor people are facing great difficulties due to skyrocketing of prices of essentials. Despite the improvement of law and order, and governance situation because of the some significant steps by the present caretaker government, businessmen have still remained panic-stricken. Confidence is yet to come back among them. Its negative implications have fallen on overall investment and market Some Tk 14,280 crore remains idle with the banking sector, which is not being invested. In spite of the contractionary monetary policy adopted by the Bangladesh Bank, its impact is yet to fall on the market prices.

According to Dr Atiur Rahman, food price inflation on the basis of point-to-point was 21.3 per cent in August this year, which was much higher than 12.5 per cent as calculated by the Bangladesh Bureau of Statistics.

On the other hand, inflation has increased by 14.1 per cent against the BBS's claim of 8.5 per cent in the last one year.

Citing some challenges for the economy of Bangladesh, he said the country would have to tackle the challenge related to its readymade garment sector. "It seems that the readymade garment sector may face a serious setback in the context of declining export earnings in this sector. It can easily be assumed about the condition of Bangladesh's garment sector when the doors of international markets for Chinese readymade garments will be opened next year," he said.

Dr Atiur also observed that several hundred thousands of workers of garment industry might turn unemployed. Many families might become paupers. Labour unrest is gradually geting visible. So, the government would have to pay serious atention to this sector.