The New Nation - Internet Edition

Mandatory registration with central bank: Garment buying houses allege harassment by BB

BUSINESS REPORT

Country's garment buying houses yesterday alleged that they were facing serious harassment by the Bangladesh Bank.

"Buying houses have become the victims of serious harassment and lengthy process as the Bangladesh Bank is compelling them to get registered through wrong application of the law," said Qayuum Reza Chowdhury, president of Bangladesh Garment Buying House Association (BGBHA), while addressing a press conference at Dhaka Reporters Unity auditorium yesterday morning.

"Normal activities of the garment buying houses are being hampered due to this lengthy registration process and undesirable harassment by the Bangladesh Bank," he said.

Qayuum Reza Chowdhury said even the registered buying houses need to take fresh permission from the Bangladesh Bank if they intend to work with new buyers. Many orders are being cancelled due to this lengthy process. "Bangladesh Bank has been taking minimum 15 days to maximum three months to give permission regarding the L/C transfer. What is the motive behind it," he asked.

BGBHA secretary general S.A. Nasir replied to the queries of journalists, while the organization's vice-president K.I. Hossain, Tariqul Islam, Saiful Islam and Shah Jamal, among others, were present.

Qayuum Reza Chowdhury said the samples, which are sent by their buyers as orders need to get released paying high duty, which is contrary to the country's export trade.

"We demand of the authorities concerned to release the samples without taking any duty," he said. "The garment factories have been enjoying the same facility. So, why we should be deprived of it."

The BGBHA president said the garment buying houses have been paying taxes at a rate of 4 per cent at the source. "We demand of the government to consider this tax as final tax on us," he said. "The tax paid by the garment factories at source is also considered as final tax," he added.

He also called for inclusion of the BGBHA representatives in all policy-making committees of the ready-made garment sector. "It will bring significant benefit to the country's export-oriented garment sector," he observed.

Qayuum Reza Chowdhury further said the European Union has withdrawn restrictions on Bangladesh's major competitor China from this year. The United States is also going to withdraw this restriction from 2009. Bangladesh's ready-made garment sector has been facing stiff competition from many countries like Vietnam and Cambodia.

"The ready-made garment sector are now facing many challenges like labour unrest, compliance issues, and propaganda at both home and abroad," he said.

The BGBHA president said the buying houses have been playing the role of marketing in the country's garment sector. Lion's share of the orders in the country's ready-made garment sector comes through the buying houses. "Unfortunately, it is true that the role of the buying houses is not properly recognized. Rather, they are the victims of negligence and discrimination. Moreover, the buying houses have been facing various types of harassment in carrying out their normal activities lawfully," he said.

HSBC sends customer to Singapore

ECONOMIC REPORT

The Hongkong and Shanghai Banking Corporation (HSBC) Ltd recently provided Mrs Hosne Ara Begum, a selected customer, with an exclusive package to enjoy HSBC's hospitality at the HSBC Women's golf championship in Singapore.

Md Shafquat Hossain, Head of Personal Financial Services of HSBC Bangladesh said "HSBC is committed to offering SELECT customers with access to an exclusive range of privileges, including an International Credit Card, Global Access ATM Card and unrivalled personal service.

“We will continue to provide SELECT customers from Bangladesh with opportunities to attend exciting international events, like the HSBC Women's Golf championship."

He went on to explain that, following the recent launch of the SELECT Family Package, SELECT customers can now arrange for their family members to enjoy the same exclusive privileges.

DCCI training course on: Quality Management and ISO 9000 concludes

ECONOMIC REPORT

DCCI Ex Director Mamun Ur Rahman emphasised on ensuring quality of the products for drawing the attention of Buyer from overseas countries. He said ISO Certification is an indispensable part in international business. He told this at the closing ceremony of the training course on 'Quality Management & ISO 9000' organised by the DCCI Business Institute on 26th February, 2008 at the Institutes premises. He informed that the adoption of a quality management system should be strategic decision of an organisation. The design and implementation of an organisation's quality management system is influenced by varying needs, particularly objectives, the products provided, the processes employed and the size and structure of the organisation, he pointed out.

He stressed that this international standard can be used by internal and external parties, including certification bodies, to' assess the organisation's ability to meet customers', regulatory and the organisation's own requirements. He urged the participants to disseminate ideas and knowledge they gained through training course among their colleagues, managements with a view to enhancing skills in the competitive world.

Mamun Ur Rahman explained the role of DBI with respect to disseminating knowledge and human resource development. He emphasised on the role and use of ISO in exporting. In some cases ISO certification can be compared to passport for getting our products abroad, particularly Europe & the USA. He added that there are different types of accredition eg, human life, safety or voluntary types for medical, vehicular and computers products respectively.

Participants opined about the course positively and urged more courses to be organised. The Course was moderated by Md. Jawadur Rahman Choudhury, Joint Secretary (Project & Training) and Course Coordinator. ISO Consultant & Course Resource Person Mahboob Abedur Rahman was present on the occasion.

A good number of participants participated in the programme.

The course aimed at familiarising the topics: Introduction to ISO 9001:2000; The Documentation Process of the 9001:2000; Comprehensive review of the requirements of the ISO : 2000 Standard; How best to approach the documentation and writing task; The four process levels and how they are used in the documentation and writing process; QMS forms and records examples; Exercises on how to right your QMS documentation; How to develop charts and how they are best used through the QMS process approach; Suggested schedule for completing an ISO 900 I :2000 project.

Pak-Bangla jt venture to invest more $2.5m in DEPZ

BUSINESS REPORT

A Pakistan-Bangladeshi joint venture company M/s. Velox Fashions Limited is going for expansion of their garments industry in the Dhaka Export Processing Zone.

This jointly owned company will enhance their production capacity with additional investment of US$ 2.5 million, including this, the total investment will stand at US$ 4.5 million. At present 365 Bangladeshi engaged in this factory.

This company will also create new job opportunity for additional 500 Bangladeshi with implementation of their expansion programme.

An agreement to this regard was signed between the Bangladesh Export Processing Zones Authority and, the M/s. Velox Fashion Ltd. in BEPZA Complex, Dhaka today (27-02-2008).

A.Z.M Azizur Rahman, General Manager (Investment Promotion) of BEPZA and Mr. Iqbal Ahmed, Managing Director of M/s. Velox Fashions Ltd. have signed the lease agreement on behalf of their respective organisations.

The Executive Chairman of BEPZA and other officials were present on this occasion.

SIMARCH FMO holds Asset, Liability Management workshop

The Asset and Liability Management (ALM) workshop, organised by SIMARCH Asia, commenced on February 23, 2008.

The ALM workshop was co-sponsored by FMO, a Dutch Development Bank from the Netherlands. The participating banks were AB Bank Limited, Bank Asia Limited, Dhaka Bank Limited, Dutch-Bangia Bank Limited, Mercantile Bank Limited and Southeast Bank Limited. The workshop was conducted by Ziegfried Vermaak, CEO of SIMARCH NV, based in Belgium and co-facilitated by Md. Akhtaruzzaman, Managing Director, SIMARCH ASIA.

Since 2003 SIMARCH has been conducting training programmes and workshops for banking personnel in Bangladesh. SIMARCH is currently working in more than 40 countries in Europe, Africa, Latin America and Asia.

Berger Paints Club Dealers’ get-together held

BUSINESS REPORT

Berger Paints Bangladesh Ltd. recently held its Club Dealers' get-together at Hotel Sheraton in the city on Sunday. A total of 190 club members including platinum, gold and silver club dealers of Berger, from all over the nation attended the programme. The program was inaugurated with a speech by the Managing Director, Rupali Chowdhury. The Managing Director in her speech thanked the dealers for their participation in the programme and for their continuous cooperation and contribution in the success of the company. She also promised that the company would grow together with the dealers in the years to come.

A presentation was then made by GM-Sales & Marketing-Mohsin Habib Chowdhury regarding the industry progress, prospects and future plans of the company.

At the second half of the programme, popular singer Sabina Yasmin and Shahnaz Bely enchanted the audience with their ever popular music. The musical programme was followed by raffle draw and finally dinner. Among others the programme was attended by Marketing Manager-A.K.M Sadeque Nawaj and other sales and marketing officials of Berger Paints (BD) Ltd.

Denmark-Bangladesh jt venture to invest $3m in CEPZ

BUSINESS REPORT

Denmark-Bangladesh joint venture to invest US$ 3 million in CEPZ

M/s Cold Play School Products Limited, a Denmark-Bangladesh joint venture company, will set up a sporting and traveling items manufacturing industry in Chittagong Export Processing Zone.

The company will invest US$ 3 million and produce 4 million pieces of sporting and traveling items. It will also create employment opportunity for 499 Bangladeshi nationals.

An agreement, to this effect, was signed between the Bangladesh Export Processing Zone Authority and Cold Play School Products in BEPZA complex here Thursday.

AZM Azizur Rahman, General Manager (Investment Promotion) of BEPZA, and Helal Uddin Ahmed, Managing Director of Gold Play School, have signed the lease agreement on behalf of respective organizations.

Etihad wins 4 new Indian routes

BUSINESS REPORT

Eithad Airways is to boost its flying programme to India with the addition of four new major cities, Chennai (Madras), Jaipur, Kolkata (Calcutta) and Kozhikode (Calicut) to its expanding global network. The decision follows successful bi-lateral talks earlier this week between the governments of the UAE and India, aimed at further liberalising flying links between the two countries.

James Hogan, Etihad Airways' chief executive, said: "Etihad is always keen to build up its Indian services and we are thrilled to have been given the rights to serve four new cities in this exciting market. "I would like to pay tribute to both the UAE and Indian governments, particularly the Department of Transport of Abu Dhabi, for their enlightened vision in further opening up air links between these two great nations and allowing Etihad to expand its services to these developing cities in India."

As the capital of the Indian state of Tamil Nadu, Chennai is located on the Coromandel Coast of the Bay of Bengal and has an estimated population of 7.5 million people.

Kolkata is the state capital of West Bengal and the fourth largest city in India, with a metropolitan population of 15 million. The city is also a major commercial centre and home to India's second largest bourse, the Calcutta Stock Exchange.

The coastal city of Kozhikode will be Etihad's third destination in Kerala to add to its highly successful flights to Kochi (Cochin) and state capital, Thiruvananthapuram (Thrivandrum).

Known as the Pink City, Jaipur is the capital of the state of Rajasthan in Northern India. It has a growing population of more than 3.3 million people and is one of the most popular tourist destinations in the country.

James Hogan spent two days in September last year in New Delhi meeting the Indian Minister for Civil Aviation Praful Patel, and senior government officials to press the carrier's case for additional flights between India's emerging cities and the capital of the United Arab Emirates.

At present, Etihad operates daily flights from Abu Dhabi to the commercial capital Mumbai and the national capital New Delhi as well as Kochi and Thiruvananthapuram, both in the southern India state of Kerala.

Etihad had set its sights on eight cities in India for new air services from its base in Abu Dhabi with traffic rights to Ahmedabad, Amritsar, Bangalore and Hyderabad still to be gained. Etihad will continue to press for more access to the Indian market at the next round of inter-governmental bi-lateral talks between the UAE and India.

Bangladesh gets $62.6m to revitalise agri technology

UNB, Dhaka

Bangladesh yesterday signed a loan agreement with International Development Association (IDA) under which it will receive US$ 62.6 million to improve agricultural productivity and farm income by revitalizing the national agricultural technology system. Additional ERD secretary Mohammad Mesbahuddin and World Bank acting country director Mohamed Alhousseyni Toure signed the agreement for their respective sides at the NEC auditorium.

The National Agricultural Technology Project (NATP) is designed to promote generation, dissemination, adoption and use of appropriate agricultural technologies through a number of policy reforms, institutional development and investment to support agricultural research, extension and supply chain development. The development of supply chains will focus on strengthening farmer-market linkages, knowledge management and human resources development. The credit from the IDA, the World Bank's concessionary arm, has 40 years to maturity with a 10-year grace period and carries a service charge of 0.75 percent.

Citibank condoles death of Brac Bank MD Imran Rahman

Citibank, N.A., Bangladesh expresses sincere condolence on the death of promising banker and Managing Director of Brac Bank Ltd., Imran Rahman.

In a condolence message, Mamun Rashid, Managing Director and Citi Country Officer, Bangladesh, said the nation has lost a sincere banker whose contribution to the banking industry should always be remembered. He also conveyed sympathy to the bereaved family and prayed for the salvation of the departed soul.

Benchmark wins ABC Radio communications

Benchmark Limited, an affiliate of TBWA worldwide, a leading advertising, marketing communication and event management company, has won the communications of ABC Radio, an upcoming FM station from Transcom Group, in a competitive pitch participated by other agencies. The key responsibilities of Benchmark will be to develop strategic positioning and communication ideas for ABC Radio.

An agreement was signed between ABC Radio and Benchmark at Benchmark office recently. The agreement was signed by Jalal Uddin Akanda, executive director, ABC Radio, and Ashraf Kaiser, managing director & CEO, Benchmark Ltd. Mahammed Jasimuddin, finance manager, ABC Radio, Sanaullah Lavlu, senior journalist, ABC Radio, Ershadul Hamid, senior accounts manager, Benchmark, and Ashok Kumar Das, finance & administration manager, Benchmark, were present in the signing ceremony.