The New Nation - Internet Edition

Staff Reporter

The country's 15 sugar mills under Bangladesh Sugar and Food Industries Corporation (BSFIC) incurred a provisional loss of taka 157 crore during the fiscal 07 but a year ago earned a profit of taka 63.21 crore, according to Bangladesh Economic Review 2007. Another source says that over one lakh metric tonne of sugar has been lying unsold in different mills in consequence whereof the sugarcane producers could not get their dues from the authorities. If the non-payment of dues of the producers continues for few more years, they may lose interest in sugarcane production.

Certain quarters blame the government's apathy to protect the interests of the producers as well as of the mills. The production cost of one-kilo sugar being taka 36 only, the sale price is supposed to be around taka 40 only. As the annual production capacity of the 15 mills is around 2.10 lakh metric tonnes, the country has to import the remainder of the annual demand of 12 to 14 lakh metric tonnes. And the importers find it easy to import from India paying taka 5000 per tonne as duty. In this backdrop, a proposal was submitted to the government to enhance the import duty to taka 10,000 but the government has not yet taken the matter seriously.

And to boost the sugar export to Bangladesh and Nepal, the Indian government pays a subsidy of $ 65 per tonne to keep the price low in these two countries (subsidy to agricultural output is universal in the world. Unfortunately the WB and the ADB advise the Bangladesh government to cut the size of subsidy if not at all slashed). This is this reason that the price of the Indian sugar in Bangladesh is taka 28 to 30 per kilo, which has compelled the mill authorities to sell sugar below their production cost by taka five. Consequently, the corporation has incurred losses during the last fiscal.

For non-payment of their dues for months together, the sugarcane producers may lose interest in production, which might make the country totally dependable on import. In that situation, the cost of the imported sugar will surely be much higher than the present level to be borne by the sugar consumers meaning further rise of costs of living.

It, thus, implies upon the government to increase the import duty by taka 5000 and to give loan to the mills authorities to clear the dues of the sugar cane farmers at the earliest. Meanwhile, the government has set the production target at 1.74 lakh metric tonne for the season November-March 08.

Jet Airways, India's premier airline announced the launch of its daily direct flight from Dhaka to Kolkata and four flights a week from Dhaka to Delhi, effective from December 16, 2007. With the induction of these new flights, Jet Airways' Dhaka passengers will get a convenient connection when flying to and from London via Delhi.

On Wednesdays, Thursdays, Saturdays and Sundays, Jet Airways' flight 9W 274 (Kolkata-Dhaka) will depart from Kolkata's Netaji Subhash Chandra Bose International Airport at 0700 hrs and arrive at Dhaka's Zia International Airport at 0815 hrs and will depart DAC for DEL as 9W271 at 0915 hrs and arrive DEL Indira Gandhi International Airport at 1125 hrs on return flight 9W272 will depart DEL at 1225 hrs and arrive at Dhaka's Zia International Airport at 1515 hrs and depart DAC for Kolkata as 9W273(Dhaka Kolkata) at 1615 hrs and arrive at Kolkata Netaji Subash Chandra Airport at 1620hrs.On the return leg, flight 9W 273 (Dhaka-Kolkata) will depart Dhaka's Zia International Airport at 1615 hrs and arrive at Kolkata's Netaji Subhash Chandra Bose International Airport at 1620 hrs.

The Above flights will provide immediate suitable connections for passengers traveling to and from LONDON at Delhi on Jet Airways flights 9W 121 and 9W 122

During the rest of the week (Mondays, Tuesdays and Fridays), Jet Airways' flight 9W 274 (Kolkata-Dhaka) will depart Kolkata's Netaji Subhash Chandra Bose International Airport at 1400 hrs and arrive at Dhaka's Zia International Airport at 1515 hrs. These flights will operate with a Boeing 737-800 aircraft with 24 seats in Premiere Class and 120 seats in Economy Class.

Grameenphone Ltd. recently signed an agreement with the Ventura Properties Limited to provide complete communication facilities under its Business Solutions package.

GP Business Solutions is an integrated telecommunications service specially designed for the business entities of Bangladesh, providing customized telecommunications solutions through a consultative approach, tailored to the needs of individual businesses.

Ventura Properties is renowned real estate company. It is a member of REHAB (Real Estate & Housing Association of Bangladesh).

Grameenphone Business Solutions, comprising of modern mobile telecommunications services for any business needs, provides voice, text messaging and mobile data and internet services. Also on offer is a complete Mobile-Office solution, including mobile email, mobile highspeed data access, internet access, mobile fax and more, providing the freedom to work from anywhere within Grameenphone's wide network coverage.

According to the agreement, Ventura Properties Limited is being provided complete communications solutions tailored to its needs, including voice, data and other services. Ventura Properties Limited will use the services to further improve communication amongst its different businesses, at an affordable cost.

The agreement was signed by Shakibul Karim Romel, Chairman, Ventura Properties Limited and Khandaker Omar Farhan, Deputy General Manager, Business Sales, Grameenphone Ltd., on behalf of their respective organizations

Architect Rashed Iqbal, Managing Director; Atiq-uz-Zaman, Asst. Manager; Ashique Mahmud, Executive, from Ventura Properties Limited, and Md. Touhidul Islam, Group Manager; Moin Hossain, Account Manager; Fakrul Abedin, Relationship Manager, of Grameenphone, was also present at the signing ceremony.

The Air Asia X, one of the designated airlines from Malaysia, to operate air services to Bangladesh started operation recently on charter basis to carry workers going for employment in Malaysia.

The airline already operated two flights from Dhaka to Kuala Lumpur with full capacity and arranged more flights for quick transportation of the workers who have been waiting for long due to lack of flight schedule.

The charter flights have been arranged by Celebrity Tours and Travel the local agent of the company. According to the local agent, weekly five chartered flights would be operated on the route on Saturday, Monday, Tuesday, Wednesday and Thursday.

The Air Asia X is a sister concern of Malaysia's prominent airline Air Asia. The new airlines started operating flights first between Malaysia and Australia. Bangladesh is the second destination of the company. It started operation under the Bangladesh government's limited open sky policy. In future, the company wants to operate scheduled flights between Dhaka and Kuala Lumpur. "We are looking for operating scheduled flights between Dhaka and Kuala Lumpur as Bangladesh is a potential market for airline business," said Sarjit Singh, Ground Operation Service Manager of the airline who also looks after the Bangladesh charter flights.

With the population of over 140 millions and having over 5 millions expatriate workers, the country has many advantages to draw the attentions of airline operators, he pointed out.

bdnews24.com, Dhaka

Dhaka stocks opened upbeat Tuesday before falling in the midday session after the shares ended lower in the previous day.

It rose significantly in the second hour of trading and remained stable.

At 12:50pm, the DGEN or general index edged up 3.78 points or 0.13 percent to 2910.03. The DSI or all-share price index was at 2457.10, up 1.63 points or 0.06 percent.

Turnover was at Tk 606.886 million with 77 issues advancing, 96 declining and 21 holding steady.

Exim Bank was at the peak of the top share board by value at 12:52pm. It was selling at Tk 390 from Monday's close of Tk 388.25.

UCBL closely followed Exim, selling at Tk 4650 from previous day's Tk 4818.25.

NBL was selling up from Monday's Tk 1252 to Tk 1284.25.

Dutch Bangla Bank also rose after the bank said it had decided to increase the authorised capital from Tk 400 million to Tk 4000 million subject to the approval of Bangladesh Bank.

It was selling at Tk 6675 from the previous day's close of Tk 6259.75

BRAC Bank, one of the most active shares, declined to Tk 1525 from Monday's Tk 1525.50.

Among the other scrips on the board, BOC Bangladesh, Islami Bank Perpetual Bond, Summit Power and ACI declined.

Dutch-Bangla Limited (DBBL) Bank relocated its Mohakhali Branch to an expanded and refurbished new premises at Hotel Zakaria International (1st Floor), 35 Gulshan Road, Dhaka from December 09, 2007 with truly on-line banking facilities.

Md. Yeasin Ali, Managing Director of DBBL , inaugurated the relocated branch in a simple ceremony. In this connection, a doa-mahfil was arranged attended by a large number of valued customers, businessmen, industrialists and local elite.

Among others, Chairman of Dhaka Telephone Company Limited ATM Hayatuzzaman Khan, Chairman of Nitol Motors Limited Abul Matlub Ahmed, bank’s Additional Managing Director AHM Nazmul Quadir and senior executives were present on the occasion.

BSS, Dhaka

The prices of some major essentials are at least 16 percent less in the BDR run marketscompared with other markets in the capital.

According to BDR sources, the price of one kg of full cream powder milk which have been imported from China is taka 85 lesser than that of the powdered milk sold at other markets of Dhaka.

The BDR is selling the milk at taka 38 per kg which is being sold at Taka 45 in other markets.

The price of coarse rice is taka 20 per kg at BDR markets which is taka 23 to 26 in other markets while the price of lentils (imported) at BDR markets is taka 58 per kg while it is taka 65 to 66 in other markets.

The locally produced lentil is being sold at taka 60 at BDR markets while price of this essential is taka 75 to 76 in other markets.

A Bi-Monthly Review Meeting of the Heads of Zones and Corporate Branches of Islami Bank Bangladesh Limited was held on 6 December 2007, Thursday in the evening in the Boad Room of Islami Bank Tower. Prof. Abu Nasser Muhammad Abduz Zaher, Chairman, Board of Directors was present in the meeting as the chief guest and Mominul Islam Patwary, Cahirman Exective Committee of the bank was present as the special guest. Presided over by M. Fariduddin Ahmad, Executive President of the bank, the meeting was attended by Mohammad Abdul Mannan and Md. Habibur Rahman Deputy Executive Presidents and heads of zone and corporate branches of the bank.