The New Nation - Internet Edition

GCM Resources to invest further £2m in PeoplesTel Ups stake to 37 pct

ECONOMIC REPORTER

GCM Resources PLC said it has agreed to invest 2 million pound sterling in cash for an equity interest in Bangladesh's PSTN operator, Peoples Telecommunication & Information Services Ltd.

Following this investment, GCM stake in Peoples Telecommunication enlarged capital raises to 37 per cent from 26.5 per cent earlier, it added.

For the year ended September 30, 2007 Peoples Telecommunication reported a loss of about 1 million sterling and had net assets of about 7 mln stg.

Peoples Telecommunication & Information Services Ltd. (PeoplesTel) is the successor company of Bangladesh Rural Telecom Authority (BRTA) Pvt Ltd.

BRTA started its operation in 1989 with the responsibility to provide digital communication in 203 rural thanas throughout north, north-east and north-west regions of the country with the agreement with Bangladesh government, represented by Bangladesh Telegraph & Telephone Board (BTTB), the government owned telephone company. Later this agreement was revised in 1993 and BRTA was given the responsibility for 199 thanas. BRTA is the first private PSTN operator in Bangladesh. In fact it has paved the way for telecom privatisation in Bangladesh.

On 15th December 2003, BRTA was bifurcated into two new companies with a mutual agreement among the Directors.

That is how PeoplesTel came into being and incorporated in February 2004 with the responsibility for 99 Thanas. It has now over 30,000 customers and have a very strong infrastructure and more than 200 experienced manpower.

Back in 2003 Bangladesh Telecommunication regulatory Commission (BTRC), the newly formed telecom regulatory body, invited application for PSTN licenses for 4 zones. Bangladesh is divided into 5 zones (North-West, North-East, South-West, South-East and Central). Dhaka City, Tongi, Zingira, Savar, Gazipur & Narayanganj District Headquarters are within the Central zone. PeoplesTel is now operating in four Zones.

On 25th June 2007, BTRC decided to issue license to PeoplesTel to provide fixed and wireless phone services in Dhaka (Central Zone). PeoplesTel is one of the eligible companies to get this license and very soon will be operating in Dhaka after BTRC formalities are executed. With a mission aiming to provide reliable, widespread, convenient and cost-effective telephone services to the people in Bangladesh irrespective of where they live currently PeoplesTel is operational nationwide.

Govt hailed for not leasing out public jute mills

ECONOMIC REPORTER

National Coordination Committee for Development of Jute and Jute Economy congratulates the government for not moving ahead with the proposal of leasing out of the closed public sector jute mills to the private sector.

The Committee calls on the government to be cautious in considering any proposal of leasing out the closed down public sector mills to private sector.

The Committee notes that the proposal of leasing the closed public sector jute mills indicates that these mills are still having economic/commercial viabilities.

At the same time, the Committee observes that there is a need of disclosure of information regarding any attempt of framing of any proposition on any form of such leasing.

The Committee is concerned that Jute being a national interest and that a large number of workers have already lost their jobs in the process of closure of public sector jute mills - the government should act now with prudence to ensure both the commercial interests of the nation and to meet its constitutional the obligations towards the livelihood security of the workers. In this regard, the government should devise policies without any prejudice'.

The Committee reiterates. its position that the government should explore the option of running the jute sector viably and transparently under its own management and ownership before any option of lease is further explored.

From its concerns toward both livelihood security and sustainability of jute industry in Bangladesh, the National Coordination Committee for Development of Jute and Jute Economy also calls on the government to review and discontinue the practice and policy of golden handshake.

The Committee finds that the process of golden handshake is leading to an irreplaceable gap in terms of skills and knowledge in Bangladesh jute sector.

This does not only reduce present production capacities of Bangladesh jute sector but also restricts the potentiality of the future growth of the sector.

The Committee calls upon the government not to pursue further privatisation as well as any future initiative of golden handshake as these measures are self defeating for Bangladesh Jute.

It should be mentioned that the National Coordination Committee for Development of Jute and Jute Economy has been working since 25 June 2007 as the national forum to ensure coordination and synergy among all the committees, commissions and initiatives regarding jute sector. As per the decision of the national workshop on Jute and Jute Economy, Dr. Quazi Kholiquzzaman Ahmad, President of Bangladesh Unnayan Parishad is steering the committee as its Convener.

The committee includes the ex-Advisor Sultana Kamal, leading jute expert Khaled Rab, eminent human rights activist Hamida Hossain, labour and women rights activist Shirin Akhter, economist Professor M. M. Akash, labor and trade union activist Dr. Wajedul Islam Khan, Shahidullah Chowdhury, Shafiuddin Ahmed and Syed Sultan Uddin Ahamad, development activist Adv. Firoz Ahmed, Asgar Ali Sabri as its Members and AKM Masud Ali as its Member Secretary.

Arthokotha celebrates 17th anniversary

Arthokotha-country's oldest, largest circulated and most influential business magazine celebrates its 17th anniversary in a grand gala festival at Bangladesh-China friendship Conference Centre on 7th February. Being edited and published by Sayed Rana Moostofee, the pioneer of business

journalism in the country, Arthokotha is making a continuous contribution towards the business, industry, entrepreneurship and industrialisation-of-lhe country for last 18 ears.

The programme was presided by the chairman of Motherland Group and the editor-publisher of Anthokotha Sayed Rana Moostofee. Dr. Iftekhar Ahmed Chowdhury and Dr. C.S. Karim, Advisers, Caretaker Government, Dr. A.T.M. Shamsul Huda, Chief Election Commissioner, Lt. Gen. Masud Uddin Chowdhury, ndc, psc, Principal Staff Officer, Armed Forces Division, Dr. Saleh uddin Ahmed, Governor, Bangladesh Bank, Dr. Saadat Hussain, Chairman, PSC, Syed Manjur Elahi, Administrator, FBCCI, Professor Muzaffar Ahmad, Chairman, Transparency International Bangladesh, Prof. Dr. M. Shamsher Ali, Vice Chancellor, South East University, Latifur Rahman, President, Metropolitan Chamber of Commerce and Industry and Faridur Reza Sagar, Managing Director, Channel I were present as the guests of honor. The first part of the celebration was held in the Hall of Fame (Plenary Hall) and the concluding session took place at the Milk way (Public Plaza).

The eminent agricultural scholar and media personality Shykh Seraj was awarded the prestigious 'Arthokotha-Moneytalk-Powerman' award on this fabulous moment. Arthokotha also published a special issue on the day 'the HEROES in business and beyond' containing the nominated 100 top successful personalities from the different spheres of the society.

A multi starred cultural extra vaganza was staged after a grand dinner to mark the occasion a memorable one. The grand-gala celebration was hugely attended by a large number of secretaries of the government, former advisers and ministers, corporate CEOs, bank and insurance MDs, multinationals high-up, NGO personalities, social leaders and notable professionals.

UNICEF appeals for $856m to aid children, women in emergencies

ECONOMIC REPORTER

UNICEF launched its Humanitarian Action Report (HAR) 2008 on Friday, calling on donors to provide $856 million to assist children and women who are victims of emergencies in 39 different countries around the world.

The report includes information on countries currently affected by severe political crisis, such as Chad and Kenya, as well as on ongoing conflicts that no longer make headlines but where children continue to suffer. It also addresses countries struck by severe natural disasters, such as Mozambique, which has experienced devastating floods. UNICEF's relief activities are described in the report, alongside accounts of the financial requirements necessary to meet the needs of those children and women who are suffering.

"As a result of the crisis in Kenya, some 150,000 children are among the 300,000 people who were forced from their homes and into temporary camps. UNICEF estimates that some 80,000 of these children are under five years old. In Chad, the situation is a little less clear, but estimates suggest that 30,000 of the 52,000 who have been driven from the country are vulnerable and urgently need help. UNICEF is providing urgent assistance in health, education and nutrition," said Hilde Johnson, UNICEF Deputy Executive Director at a press conference in Geneva. "In both these conflicts, and in the 37 other crises described in this report, children and women continue to bear the brunt of conflict and displacement."

Funding is also being sought for humanitarian activities in Sudan. While recovery and development activities are underway across Sudan, large pockets of the population - most notably in Darfur - continue to suffer.

The number of internally displaced persons in Darfur has grown to 2.1 million, and the conflict has damaged the safety and the livelihoods of large portions of the civilian population.

The damage has spread across national borders, and thousands of children from Darfur are in dire need of assistance and protection in the Central African Republic (CAR) and Chad. UNICEF-supported programmes in Sudan, totaling over US$ 150 million, aim to boost health, nutrition and education, increase access to safe water and sanitation, and promote child protection and mine action. Although the situation in West Africa is not widely reported around the world, as the 2008 Humanitarian Action Report reports, nearly one million people are currently displaced by conflict in that region and the resulting under-nutrition is a major risk targeting young children. In the Democratic Republic of Congo, for which UNICEF is requesting US$ 106 million, more than half of the deaths of young children are attributed to malnutrition.

A worrying trend that the report highlights is the fact that women and children are increasingly falling victim to systematic rape, often used as a weapon of war by different groups.

"We must make sure that children and women are protected as much as possible from these atrocities, and that those responsible for these crimes are eventually brought to justice," Ms Johnson stressed.

Conflicts often go hand-in-hand with natural catastrophes, blurring the lines between different types of disasters and re-enforcing the damage wrought on the lives of children and women. When the political crisis broke out in Kenya following the election in late December 2007, people were already suffering the impact of drought and of the HIV and AIDS pandemic. According to the report, better natural disaster preparedness has improved the situation in countries prone to emergency hazards. Cyclones that struck Bangladesh in 1970 and 1991 killed 500,000 and 140,000 people respectively. As a result of better systems of preparedness, when a cyclone of similar intensity.

Cyclone Sidr, struck Bangladesh in November 2007, the death toll, although still unacceptable, was considerably lower (some 3,300 people lost their lives).

The report spells out the lessons learned from the tsunami catastrophe in 2004, including the importance of more efficient coordination between different stakeholders at all levels, improved funding mechanisms such as the Central Emergency Response Fund (CERF) which enable the UN to react faster, and better preparation, including assisting communities to identify warning signs.

"Experience has taught us that communities and families on the ground must be equipped with knowledge and skills to better prepare and respond to disasters when they happen," said Ms. Johnson. "Partnerships with communities, governments, UN agencies, NGOs and the private sector are crucial not only to delivering the aid that is needed, but also to pass on information that can save lives." These lessons have been put into place in Mozambique, where early warning mechanisms and pre-positioned emergency supplied enabled a quick first-line response that has helped the 95,000 people -mainly children and women- who have been displaced by the disastrous floods that are devastating segments of the country for the second year in a row.

Last year, thanks to an increase in the contributions received from new funding mechanisms such as the CERF, 52 per cent of UNICEF's requested emergency funds were received. UNICEF looks forward to continue working with all donors and partners to increase the efficiency of disaster preparedness and response.

Meghna Life holds closing session for Ekok Bima

The closing session-2007 of Ekok Bima of Meghna Life Insurance Col. Ltd. was held recently at the Head Office of the company. Ekramul Ameen FCA, the Managing Director of the Company presided over the meeting. Nizamuddin Ahmed, Chairman of the company was present as chief guest. The special guests who were present in the meeting are Col. (Retd.) Shamsuddin Ahmed, Director (Marketing & Dev.), M.A. Majid FCA Director (F & A), Mujib-ud-Daula, Adviser, Rezaul Hakim, Adviser (Marketing), Senior Executive Directors, Senior Executives and invited Field Officials.

Nizamuddin Ahmed said in his speech that the owners and the management only look into their own interests. They do not usually look into the interest of the policyholders. It is obvious that the main responsibility of the Life Insurance authority is to save the interest of the policyholders. The company Chairman made a clarion call to all concerned to keep an eye on this matter.

The meeting reviewed business of Ekok Bima for 2007 and expressed satisfaction for the earned business inspite of shattered economy of the country ravaged by natural calamities. The meeting expressed gratitude to the Senior Executive Directors of Ekok Bima and other related Senior Officials for their outstanding performance.

Nizamuddin Ahmed, Chairman of Meghna Life Insurance Co. Ltd. is seen delivering caption his speech in the closing session of Ekok Bima for the year 2007. Other dignitories who were present are Ekramul Ameen F.C.A. Managing Director Col. (Retd) Shamsuddin Ahmed, Director, M.A. Majid FCA, Director (Finance of Admin) Mujib-ud-Daula Adviser Rezaul Hakim, Adviser (Marketing), M. Khorshed Alam, SED (Dev. Admin), Mahidur Rahman SED and other Senior Officials of Ekok Bima present in the meeting.

Death claim cheque worth Tk. 1 (one) lakh was handed over to Ms. Sheauly Begum the nominee of late policy holder recently at Brahmanbaria. On the occasion Brahmanbaria Poura Chairman Hafizur Rahman Mollah, Director and Claim Committee Chairman of Padma Islami Life Insurance Ltd. A.R. Bhuiyan, High officials of the company and Brahmanbaria Press Club President were present.

BGCCI donation for Sidr victims

Recently, Bangladesh German Chamber of Commerce & Industry (BGCCI) collected donations from its Member Firms to help those who have suffered the devastation brought about by the cyclone SIDR. A total amount of approximately Taka 6 (six) lacs were donated by the following Members of this Chamber- Picard Bangladesh Ltd., Bayer Crop Science Ltd., Tootal Quality Resources Ltd., BASF Bangladesh Ltd., Kuehne + Nagel Ltd., RH Corporation Ltd., Pacific Associates Ltd., Multi Freight Ltd., Computer Source Ltd., Kryolan Bangladesh Ltd., SW Shipping Ltd., New Asia Ltd., Omnitrans International Ltd., Siemens Bangladesh Ltd., Pan Aviation Ltd., and ABX LOGISTICTS (Bangladesh) Ltd. BGCCI thanks all those Members who donated towards the relief fund in order to clearly demonstrate that the business community is aware of its responsibilities towards the suffering of the people of effected areas. On January 22nd and 23rd, Mr. Syed Sadaquat Hossain, Managing Director of Pan Aviation Ltd. was in Patuakhali District to distribute in cash the contributions of Taka 1000.00 each to 195 and 390 people in the remote areas of Naloabaghi and Koralia or Baher Char both under Golacheepa Upazila. Mr. Abdullah Al Hassan, the great grandson of Haji Shariatullah of Faridpur had helped to identify poor, elderly men and women as well as children who have been struggling hard to rebuild their lives in the aftermath of the SIDR cyclone hit region of Patuakhali. BGCCI hopes that this small token of relief will help boost the courage of the people in facing the hardship of day to day life.

Al-Arafah Islami Bank holds training course

A two-day long Training Course on "Investment Risk Management & Investment Risk Grading" for the officers of different level of Al-Arafah Islami Bank Ltd. was held at AIBL Training & Research Academy on February 6-7 last. Md. Anowar Hossain, Chairman, Board of Directors of Al-Arafah Islami Bank was present ass chief guest & inaugurated the training course on February 6.

M.A. Samad Sheikh, Managing Director of the Bank was present as special guest. Among others A.K.M. Fazlul Hoque, Senior Vice President & Principal of training academy was also present on that occasion.

Islami Bank plays vital role for economy

A training course on "Managerial Function and Leadership" was held recently at IBTRA auditorium organized by Islami Bank Training and Research Academy.

Prof. Abu Nasser Muhammad Abduz Zaher, Chairman, Board of Directors was present in the Closing Session as the Chief Guest. Presided over by Md. Zafar Ullah, Director General and Executive Vice President of the Bank the Session was attended among others by Md. Rafiqul Islam, Asheque Ahmed Jebal, Dr Mizanur Rahman, Senior Vice Presidents and Mohammad Saidur Rahman, Muhammad Kamaluddin Jasim Assistant Vice Presidents.

Prof. Abu Nasser Muhammad Abduz Zaher said in his speech as the chief guest that Islami Bank has performed significant role in improving the fortune of the people, achieving self reliance and strengthening the backbone of the economy. As a result it has become the Bank of all people. The vital force of the country is Shari'ah. To abide by the rules and regulation of the country is the promise of the Bank.

ADH opens management marketing office in City

Apartment Developments & Holdings (ADH) launched its Management & l Marketing Office though the grand opening party on February 14th at House No 33 (1st Floor), Road # 01, Block # A, Niketan, Gulshan-1 Dhaka-1212 (opposite of shooting club and beside Brac Bank).

Foyez Ahammed, Managing Director & CEO of ADH Group graced the occasion as the chief guest the Inaugural session. Govt. High Officials, retd. defence officers, others invited guests, Senior Vice President & Branch Manager, Prime Bank, Bashundhara Branch, the Trust Bank, Gulshan Branch others Media were also on the occasion.

Foyez Ahammed said the success of handover of ADH's latest seven (7) on going projects within maximum three (3) years. He also said, Gulshan-1, Malibagh, Bonoshree, Badda, Mirpur, Ibrahimpur, Nowabpur, all the projects have planned in compliance with the instructions of RAJUK new rules & Civil Aviation of Dhaka and priced considering the middle class people through five (5) years installment facilities.

All the projects open for govt. jobholders & others private job Holders. Beside the every project three are good arrangement for education, hospital, market with the world-class standard quality & in front of surrounding wide roads. He added the new branch of ADH will help the valued customers for there immediate services.

ADH Group, a Retd. Defence Officers & Housing Expert Joint Management Company is only one group of companies in the country.

ACI PURE Atta, Maida, Suji come to market

ACI Pure Flour Limited is introducing a new brand - PURE Atta-Maida-Suji to the market. This brand is 100% Pure as produced from selected high quality wheat grains by the most modem European technology. And as processed by a fully automated machine, its nutrition value remains the same.

PURE Atta-Maida-Suji will be produced in the largest mill of Bangladesh and its quality will be strictly controlled through an international standard lab. PURE Atta-Maida-Suji in food-grade HPDE pack is coming to the market soon.