The New Nation - Internet Edition

A.T.M.Nurun Nabi

The Para-military Bangladesh Rifles' Fair Price Shop provides a great relief to people in view of price hike at DCC markets. However, people's rush at one of such shops situated at Shaymoli, Dhaka has decreased noticeably from the days before the Eid ul Fitr.

Most of the consumers being tired of price ramble at Dhaka City Corporation markets have chosen the far price shop as they earlier chose BDR run open markets in different parts of the city. But their anticipation soon began to hover from the BDR fair price shop as did in case of open markets.

Hosneara, housewife from Sheorapara, said, "The objective of BDR shop should be people oriented, and not profit making. We must not say that BDR will sell things lower than the purchasing cost. What we believe that the percentage of profit must be minimum so that people think it as their own."

Some members of the consumers claimed that they had been able to save a part of their income because of that shop. "The price of the majority items is comparatively cheaper than what is in the DCC markets. We use to buy our things from this shop almost everyday coming from a distance of two miles," said Sohel Haroun, a student and resident of North Shaymoli.

According to his statement; lower rate, freshness of items and well decoration of the shop drew him there.

However, price of some of essentials is as under:

Milk vita taka 36 per liter, dano milk powder 400 gram taka 180, coarse rice 23, miniket rice 29.40, BR-29 27.50, Badshahahbhog five kilos 316, pilau five kilos 293, green gram 68, lentil 65, gram, mash 64, onion 55, potato 21, papaw 12, garlic 62, beef taka 175, fowl local taka 250, fowl farm taka 150, sugar taka 32, mustard oil 150, coarse flour 35 and soyabean 82.

A consumer on condition of anonymity said, the improved quality of food items, particularly rice, edible oil, fish, meat and vegetables need to be preserved. If the quality of an item is poor, the very objective may suffer.

Prime Bank Limited landed its 55th branch at Subidbazar, Sylhet on 25th October. Azam J Chowdhury, Chairman of Prime Bank Limited inaugurated the branch as the chief guest while M. Shahjahan Bhuiyan, Managing Director of Prime Bank presided over the function. Lo cal elites, businessmen and dignitaries attended the function. Subidbazar, a residential-cum-commercial area, is vibrant with business opportunities. Since mixed class of people President Prime Bank is offering its comprehensive retail Banking products to the vicinity.

Inaugurating the branch Chairman of Board of Directors of Prime Bank Limited Azam J Chowdhury invited the people to take the opportunity of best services of Prime Bank as the bank now gives more focus on SME and consumer loan. Prime Bank thinks that the growth of small and medium enterprises will accelerate the economic growth of the country.

He added, bank creates investment opportunities. That is why he requested the people of Subidbazar to come up with more investment programs availing loan and services from Prime Bank. He said people who maintain deposit with Prime Bank, it is being invested in other business ventures in this way they are also becoming a part of development endeavour of the country. He mentioned some Corporate Social Responsibility programmes of the bank namely- Education Support Program for poor but meritorious students, free eye operation of 1200 people, free open heart surgery of poor people etc. that has been done by the bank this year. Prime Bank is also taking long term programme for larger participation in the social sector, he added. M. Shahjahan Bhuiyan, Managing Director of the Bank said, Prime Bank is focused on economic emancipation of the country, that is why it has been opening one rural branch in every four commercial branches at different areas of the country.

The function was attended by clients of the bank and the local elites including Vice-Chancellor of Metropolitan University of Sylhet Prof. Dr. Kabir Chowdhury, Vice-Chancellor of Leading University Sylhet Prof. Dr. Shahidul Islam and former Chairman of Sylhet Municipality A.F .M. Kamal.

A Periodical Review Meeting of Managers of Social Investment Bank Limited (SIBL) was held on the 27th October, in the Board Room of the bank head Office. K. M. Ashaduzzaman, Managing Director of the bank presided over the conference while Abdul Awal Patwary Chairman, Board of Directors, SIBL was present as chief guest. In the conference, the overall performance of all the branches was discussed in length and the targets and strategies for the remaining months were adopted.

Abdul Awal Patwary Chairman advised the branch managers to work with total commitment to achieve the business targets also stressed the need for participation of all officers and employees of the bank in all activities so that targets fixed for the year is achieved.

Deputy Managing Director Abu Sadek Md Sahel, Senior Executives of Bank's Head Office and all branch Incumbents were present in the conference.

Business Desk

The World Bank is supporting a government initiative that will allow Dhaka urban rickshaw-pullers to access micro finance for improving their livelihood. Those rickshaw-pullers, displaced by a ban on non-motorized transports (rickshaws, pushcarts, and rickshaw vans) in certain Dhaka roads, will now get technical skills trainings and use micro credit to shift into other professions.

Palli Kanna Shahayak Foundation (PKSF) is implementing this US$15 million Additional Financing for Second Poverty Alleviation Microfinance project of the Government. Recently-selected 10 Partncr Organisations have started mobilizing the affected rickshaw-pullers and assessing their training needs. Any existing non-motorized transport pullers can also be brought under this program, if previously affected rickshaw-pullers were not identified. The plan to reach out around 40,000 non-motorized transport pullers and poor owners will end 30 June, 2009.

The emerging challenges of this initiative are expected to be addressed successfully by PKSF and partners to highlight the fact that microcredit can effectively provide a solution to various livelihood challenges of different category of poor people.

Business Desk

The 43rd Board Meeting of Metro Spinning Limited was held on the 28th October in Head Office of the company. Alhaj Abdul Ali, Chairman, presided over the meeting being attended by Managing Director Mohammad Ali Khokan and the members of the board of directors. The meeting approved of 12 percent dividend for the shareholders of the company and the audited accounts for the financial year 2006-07. It also decided to hold the 12th Annual General Meeting (AGM) today at Spectra Convention Center, Gulshan-1 of Dhaka. It was further disclosed that the annual turn over of the company as on as on 30 June stood at taka 72.56 crore and the company's net profit taka 69.59 lakh and the fixed assets of the company taka 46.64 crore.

The register of transfer of share of the company will remain closed to transaction from December 8 to 29.

With the bank's stepping in the 9th year of operation, the 81st Board Meeting of the Board of Directors of Mutual Trust Bank Ltd was held recently in a city hotel. The meeting was presided over by the bank’s Chairman Samson H Chowdhury. Some important decisions were taken in the meeting with a view to taking the bank closer to the valued customers and common people by imparting better service. Vice Chairman Dr. Arif Dowla, the Directors Syed Manzur Elahi, Saidur Rahman Ratan, Wakiluddin, Rashed Ahmed Chowdhury, Abdul Malek, Yasmeen Haque, Kh Rashiduzzaman, Abdul Mannan, the Bank's Executive Consultant Mosharraf Hossain, Managing Director Kazi Md Shafiqur Rahman and Deputy Managing Director and Company Secretary Quamrul Islam Chowdhury attended the meeting.

Business Desk

The 22nd Annual General Meeting of Peoples Insurance Company Limited was held on 25th October 2007 in LGED Bhaban Auditorium Lavel-2 at Agargaon, Dhaka. Md. Abul Bashar, Chairman of the company presided over the meeting attended, among others, by the Directors, namely, Nazmul Ahsan Khaled, Amir Humayun Mahmud Chowdhury, AI-Haj Md. Rahim Uddin Bharosha, Nurul Islam Patwari, Engr. M. Abu Taher, Md. Shamsul Alam, AK.M Aminul Mannan, Shahjada Mahmud Chowdhury, Golam Faruk Ahmed, Engr. M. A Rashid, Md. Farhad Ahmed Akanda, AN. Md. Nasim Uddin Mollah, Asif Rahman, Jafar Ahmed Patwari and the Managing Director M.H. Khaled.

A large number of shareholders attended the meeting and took keen interest in its proceedings. Many shareholders participated in the discussion. They expressed their appreciation for timely judicious steps taken by the Management in running the affairs of the Company in the last year, despite adverse situation prevailing. The shareholders also put forward a number of suggestions on the ways of making the Company more dynamic in its future activities which were very much appreciated by the management.

The Annual General Meeting transacted a number of important business of its Agenda with satisfaction.