The New Nation - Internet Edition

Gap not to exceed 5 per cent: Bank loan interest rate cut

Bangladesh Bank Governor Dr Salehuddin Ahmed holding
a meeting with the members of the Association of Banks
yesterday. Focus Bangla

Staff Reporter

Commercial banks Monday pledged to gradually reduce their lending rates by an average of over 1 percentage point from this month while the gap between lending and deposit rates will not exceed 5 per cent.

The Bangladesh Association of Bank, an organisation of owners of commercial banks, yesterday submitted a roadmap in this regard to the Bangladesh Bank after having an intensive exchange of views among the members of the association and chief executive officers of the banks.

Of the bank charges and commissions, the banks have decided to fix the upper limit of commission on LC opening at 0.50 per cent compared to a current range of 0.30-0.70 per cent. The banks would charge the commission below the upper limit as per bank-client relationship.

"They (banks) submitted a comprehensive proposal as the Bangladesh Bank had asked for one that could be implemented," BB Governor Dr Salehuddin Ahmed told newsmen after a meeting with the bank owners and executives at the central bank.

Replying to a question, he said the Bangladesh Bank did not give any decision on the proposal. Instead, the banks themselves would implement the proposal on their part as soon as possible.

Chairman of Bangladesh Association of Banks (BAB) Nazrul Islam Mazumder said the lending rate would come down to an average range of

14.75-15.00 per cent from the present 16 per cent while individual banks would have discretion to set their respective rates within the range.

He added that it would help reduce the spread between deposit and lending rates within 5 per cent, close to the Bangladesh Bank's desire of 4-5 per cent.

"There'll be no change in the deposit rate," said the BAB chairman, adding that they have decided to cut the lending rate only from the sacrificing profit margin in the greater interest of the nation.

"It's unconditional," he replied to another questioner, adding that they have, however, requested the Governor to reduce corporate income tax on banks' earnings, now at 45 per cent.

He added that the Governor assured them of considering it sympathetically and would take up the issue with the National Board of Revenue (NBR).

"It's not possible to implement the proposal overnight. We'll start implementing the proposal by this month and it will be implemented gradually in all the banks," he said.

He estimated that it could take three months to completely implement the proposal.

Earlier, a committee comprising members from bank owners and chief executive officers, has been formed, headed by former BAB chairman

Syed Manzur Elahi, to prepare the proposal through discussions among the commercial banks, particularly considering the interest of the businesspeople, depositors and the shareholders of the banks.

The central bank had asked BAB and Association of Bankers Bangladesh (ABB) at two separate meetings earlier to prepare a guideline in this regard, as a follow-up of major policy decisions on reducing the interest rate spread and bank charges taken at a meeting on January 4.

The government on January 4 had decided to formulate a guideline for reducing the interest rate gap between the deposit and lending rates, and rationalize the charges on various bank services.

The central bank, business community and banking service recipients have long been pressing for the policy decisions to reduce the cost of doing business.

The decisions were apparently taken to promptly respond to the Chief Adviser's instruction to the Bangladesh Bank in this regard.

Former FBCCI president Mir Nasir Hossain told newsmen that the rate of reduction of interest is not enough to help boost industrialisation even than it is a welcome step.

He suggested for increasing the interest rate for deposit, which he felt would enhance national savings.

Jalil to be treated in Singapore hospital

Awami League leader Abdul Jalil being taken to his
residence at Gulshan from LabAid hospital last night prior
to his departure for Singapore. Banglar Chokh

Shahidul Islam

The ailing Awami League General Secretary Abdul Jalil was scheduled to be flown to Singapore 11-55 PM for medical treatment yesterday along with his wife Rehana Jalil as we went to the press last night.

He will get admitted at the Mount Elizabeth Hospital in Singapore this morning, his physician Dr Bareen Chakrabarty, who is the Chief Cardiologist of LabAid Hospital, told journalists last afternoon.

The Awami League (AL) General Secretary, who was released on a 30-day parole on Sunday on special consideration and humanitarian ground as per doctors' advice since he became critically ills.

He was suffering from kidney and heart problems along with diabetes. He was undergoing treatment at LabAid Hospital in the city under detention from July 15 last year. He was arrested on corruption charges on June 29, 2007 and spent 263 days in custody before being freed on conditional parole.

Jalil was yesterday taken to his Gulshan residence from the LabAid Hospital in the evening to meet his relatives before leaving for Singapore.

Rehana Jalil said her husband would undergo renal transplant as the Mount Elizabeth Hospital, where he had undergone treatment several times earlier.

Expressing her satisfaction over official action over Abdul Jalil, detained former Prime Minister and AL President Sheikh Hasina thanked the Government for its step.

"It would have been much better if he (Jalil) was totally freed instead of parole," Sheikh Hasina, who was brought to the Special Judge's Court in connection with Barge Mounted Scam case yesterday, she said, "A good sense has finally prevailed upon the Government, as it has taken the decision, though belated, on Abdul Jalil's treatment."

Expressing her willingness to go abroad for medical treatment immediately, she complained that she was not getting medicines according to the requirement inside prison. She said this while talking to lawyers and relatives inside the Court, the senior counsel Barrister Shafque Ahmed told journalists after the hearing.

"Her health condition is since her eye and kidney were affected due to her ear problems, which could not be cured anywhere other than the USA," he said, adding, "Sheikh Hasina has expressed the apprehension that her entire body would collapse if she is not allowed to go to the USA for medical treatment immediately."

It may be mentioned here that the Council of Advisers on Sunday decided take similar step like that of the ailing AL General Secretary in case of other detained political leaders (VIP prisoners), including two former Prime Ministers-Begum Khaleda Zia and Sheikh Hasina.

Meanwhile, BNP Secretary General Khandaker Delwar Hossain along with his ailing wife both were get admitted at Mount Elizabeth Hospital in Singapore for medical treatment yesterday in turn of event, kicking off dusts of controversy and speculations.

Khandaker Delwar and his wife flown to Singapore on Saturday night hours after the release of his AL counterpart, who will be admitted in the same hospital today.

Earlier, a number of leaders of different political parties, including the AL, met Abdul Jalil at LabAid Hospital.

The Army-led Joint Forces arrested Abdul Jalil and Anticorruption Commission (ACC) filed a corruption case against him last year.

His Personal Secretary Akram Hossain told journalists before his flight that Jalil was not on life support but needed oxygen.

The AL General Secretary, who was also an owner and Chairman of the Mercantile Bank, was accused of illegally acquiring property worth Tk 65.29 lakh and concealing information about assets valued at Tk 63.82 lakh in his wealth statement submitted to the ACC.

Fugitive Hasnat Abdullah jailed for 13 years: Confiscation of ill-gotten wealth ordered

Abul Hasnat Abdullah

UNB, Dhaka

A special court trying high-profile corruption suspects Monday sentenced fugitive former Awami League chief whip Abul Hasnat Abdullah to 13 years imprisonment for corruption.

The court also fined him to pay Tk 20 lakh or serve two more years in jail.

In a further order of punishment the court ordered confiscation of his wealth worth Tk 1.17 crore which he acquired "illegally".

"The sentences come into effect after his arrest or surrender to the court," says the court order.

The Awami League leader was charged with amassing wealth disproportionate to his known sources of income and concealing his assets while submitting statement to the Anti-Corruption Commission under the current drive against corruption.

Earlier, on December 12 last year, the special court set up on the parliament premises had sentenced Hasnat to nine years imprisonment in absentia for non-submission of his income-tax return, concealing real income and evading tax.

Hillary, Obama battle ahead of key races

Hillary Clinton and Barack Obama

AP, Washington

Hillary Rodham Clinton sharpened her attacks on front-runner Barack Obama ahead of two crucial nomination showdowns Tuesday that could determine the fate of her fatlering Democratic presidential campaign. Four states vote Tuesday, but the focus is on races in the big states of Texas and Ohio where the former first lady was campaigning Monday.

She desperately needs wins in both states to salvage her once-powerful bid to become the U.S.'s first female president and halt Obama's momentum following his streak of 11 consecutive wins since the Feb. 5 "Super Tuesday" races.

Recent polls show Clinton retains a lead - albeit a narrowing one - in Ohio, where residents have been hard hit by the U.S.'s economic troubles. In Texas, her once formidable lead has all but vanished and the race is now seen as a dead heat. A total of 370 delegates are at state in the four races, including Vermont and Rhode Island.

Obama's aides said privately that they felt they had a good shot at a win in Texas, but were less certain about Ohio, where they braced for a possible loss. Polls show Clinton leading in Rhode Island, but Obama ahead in Vermont.

Obama, who is seeking to become the U.S.'s first black president, has spent the past couple of days fending off attacks by Clinton - and Republicans - over his foreign policy and national security experience.

"What precise foreign-policy experience is she claiming that makes her qualified to answer that telephone call at 3 a.m. in the morning?" Obama asked of the former first lady at a town-hall meeting in Westerville, Ohio. It was a reference to dueling television ads over who would exercise superior judgment in responding to a national emergency in the middle of the night.

Obama highlighted his opposition to the Iraq war during his successful 2002 Senate campaign months before the U.S.-led invasion. He criticized Clinton for failing to read the classified National Intelligence Estimate on Iraq's weapons capabilities, a report available at the time of her October 2002 vote authorizing the Iraq war.

"She didn't give diplomacy a chance. And to this day, she won't even admit that her vote was a mistake - or even that it was a vote for war," Obama said. "When it came time to make the most important foreign policy decision of our generation - the decision to invade Iraq - Senator Clinton got it wrong."

Clinton also campaigned in Westerville, telling more than 2,000 cheering backers that she wants to solve the economic troubles facing Ohio and other industrial Midwestern states.

"For some people this election is about how you feel, it's about speeches," the New York senator said in a veiled reference to her earlier criticism that Obama can offer little more than eloquent talk. "Well, that's not what it's about for me. It's about solutions."

On the Republican side, the party's presumptive nominee, Arizona Senator John McCain, held sizable leads over former Arkansas Governor Mike Huckabee in the polls and was expected to sweep all four contests Tuesday - with more than 250 delegates at stake.

A strong showing could bring McCain on the verge of securing the 1,191 delegates needed to claim the party's nomination at its convention in early September in St. Paul, Minnesota. McCain already has a total of 1,014 delegates, while Huckabee trails with 257.

McCain's nominee-in-waiting status has put pressure on Democratic leaders to bring their party's historic but increasingly negative nominating contest to an end because they fear that a drawn out battle could hurt the party's chances in the November election.

In recent days, Clinton campaign officials have suggested that if Obama does not win all four Tuesday contests, it would signal "buyers remorse" and be reason to continue the campaign to the next major primary, Pennsylvania on April 22.

But New Mexico Governor Bill Richardson, a former Democratic presidential candidate, disagreed.

"I just think that D-Day is Tuesday," Richardson said Sunday on CBS television's "Face the Nation" while declining to make an endorsement.

"We have to have a positive campaign after Tuesday. Whoever has the most delegates after Tuesday, a clear lead, should be the nominee," he said, bemoaning the negative tone of the campaigning and adding that the Democrats have to be ready for a "very strong John McCain."

Richardson, considered a potential vice presidential candidate, did not define what he would consider a solid lead. Going into Tuesday's contests, Obama has been leading the former first lady in the popular vote, committed delegates and fundraising.

Clinton, in a late-night meeting Sunday with reporters on her campaign plane, conceded she was toughening her rhetoric as the primary nears.

"I think we've been sharpening the contrast and I think it's a contrast that needs to be sharpened," Clinton said.

But she rejected suggestions the protracted contest would hurt the party in the fall election, arguing that tough primaries are "part of American politics" and that the party will unite and win in the November general election.

Obama has 1,385 delegates to Clinton's 1,276. A total of 2,025 is needed to secure the Democratic nomination at the party's convention in late August in Denver.

Obama heads to Texas on Monday for a final day of campaigning before awaiting returns on Tuesday in San Antonio.

After campaigning in Ohio on Monday, Clinton was to return to Texas later in the day and planned a televised town hall to be broadcast statewide at night. Aides said she would await Tuesday's election returns in Ohio.

Exhibition of artefacts brought back from France begins

Cultural Affairs Adviser Rasheda K. Choudhury
inspecting the relics after inaugurating a seven-day
exhibition of artefacts brought back from France at the
National Museum in the city yesterday. NN photo

Staff Reporter

A seven-day display of 185 pieces of artefacts, including 42, brought back from the Guimet Museum in France, began at the National Museum in the city yesterday.

The exhibition will be open to the public from 9:30am to 4:30pm everyday.

Cultural Affairs Adviser Rasheda K Choudhury inaugurated the show.

The exhibition will include the 42 artefacts sent to France as well as the 143 relics whose shipment was cancelled before the exhibition at the Guimet Museum, said Cultural Affairs Secretary Sharful Alam.

The show will allow people to view the valuable relics directly and there will not be any entry fee, the Secretary added. A consignment of 42 artefacts returned home from France on February 23 after being exhibited at the Guimet.

A second consignment of 143 artefacts were packed ready for send off to Paris on December 21 but the government halted the shipment after two rare Vishnu statues went missing at Zia International Airport, resulting in the resignation of former Cultural Adviser Ayub Quadri.

National Artefacts protection Council, local art lovers and conservationists fearing that replicas instead of originals would be returned to Bangladesh from France demonstrated in the city streets.

Local govt polls: Direct election for women in reserved seats

Staff Reporter

Female candidates will contest directly in their reserved seats in the local government elections like that of their male counterparts and no male candidate will be able to take part in the polls from the same areas.

The decision was taken at a meeting between the Election Commission (EC) and the Ministry of Local Government, Rural Development and Cooperatives at EC Secretariat yesterday.

According to the decision, reserve seats will be chosen under a circle system so that female candidates can contest in all the seats by turn.

The meeting, chaired by Chief Election Commissioner (CEC) Dr ATM Shamsul Huda, also decided that none would be able to participate in the local government election by holding important post of any political party.

If any political leader intend to contest the local body election, he or she will have to resign from political post, the CEC told reporters after the meeting.

The CEC said the Commission decided in principle to hold upazila elections under its election roadmap as the Ministry of Local Government and Rural Development (LGRD) made the request.

He said the Commission is in principle decided to hold the upazila elections as per the roadmap.

On political parties' protest against holding local elections before national elections, the CEC said the Commission repeatedly said that they would follow their election roadmap where the holding of all the local-body elections has been mentioned.

The CEC said the Ministry of LGRD is considering the EC's proposal for combining the three laws of district, upazila and union parishad elections into one law.

He said the Commission will leave the UP elections as per the roadmap considering that holding election to around 5000 UPs would not be possible within the timeframe.

Adviser for LGRD M Anwarul Iqbal told reporters that the upazila elections could be held in a staggered way, as the full voter list is yet to be completed.

He discussed the relevant laws for local-body elections with the Commission as there are some reforms up and coming in the laws and rules.

Asked whether the elections would be held before or simultaneously with the parliamentary polls, he said it would decide through discussion.

"It can be held before or along with the national elections. We are determined to hold elections of the four city corporations and seven municipalities," he said.

The city corporations are-Rajshahi, Khulna, Barisal and Sylhet while the municipalities are Shariatpur, Seetakunda, Cox's Bazar, Gopalganj, Sreepur, Fulbaria and Manikganj.

Two Election Commissioners-M Sohul Hussain and Brig Gen (Retd) Muhammad Shakhawat Hossain, among others, were present during the meeting.

Arrest warrant against magistrate

Court Correspondent

A court of Dhaka yesterday issued non-bailable warrant of arrest against Magistrate Nani Gopal Biswas of the Directorate of Primary Education for disobeying an order of Women and Children Repression Tribunal 2.

Manjurul Basit, Judge, Women and Children Repression Tribunal 2 of Dhaka has noted in his order, the matter of the case is of sentimental nature and Nani Gopal Biswas is a witness in the case. He has been made aware of the date of the case, yet he did not appear before the court to perform his professional duty due to lack of accountability.

Accused Magistrate Nani Gopal is presently employed with Primary Education Directorate at Mirpur of the city. He was earlier summoned to appear before the court and later warrant was issued against him. It has been learned, the Judge of the court himself and the concerned public prosecutor informed Nani Gopal of recording his deposition yet he did not appear before the court, which delayed the trial process, Earlier recording the depositions of all other witnesses were completed.

It has been gathered, at 12 noon on December 29, 2005 Babu, a seven-year-old child was abducted from the road in front of 8/1, West Jatrabari in the city. Later abductor Zakir Hossain claimed a ransom of Taka 10 lakh from Fatema Begum, mother of the child Babu.

His mother filed a case with Demra Thana of the city. Police arrested Zakir and recovered child Babu. Nani Gopal Biswas a metropolitan Magistrate of the Chief Metropolitan Magistrate (CMM) Court at that time recorded the depositions of Babu.

Deal on rice import from India today

BSS, Dhaka

Officials of Bangladesh and India will sign an agreement here today under which Dhaka can import 50,000 tonnes of rice.

It will be the second such agreement under the Indian government pledge to supply 5 lakh tonnes of rice to Bangladesh to overcome the impact of the cyclone Sidr and recurring floods.

The pledge was initially made by Indian Foreign Minister Pranab Mukherjee immediately after the cyclone when he paid a brief visit here to see for himself its devastation. The officials of Bangladesh and India also signed an 'agreed minute of understanding' last month in Kolkata.

The Bangladesh delegation also signed the first agreement for 50,000 tonnes of rice on that occasion as India remained reluctant to sign the bigger deal providing with the entire five lakh tonnes under one supply agreement.

The news of the signing of the second agreement tomorrow comes at a time when Bangladesh is desperately trying to find new supply sources to build its stock.

The Indian government is planning to supply the foodgrains from all its five food corporations.

A source close to the food ministry said the Indian government has already issued a circular in the light of the agreed minute allowing the export of the five lakh tonnes giving a waver to its existing ban on the foodgrains export.

The Bangladesh government has already finalised the import deal at a cost of US$ 399 per tonne with the West Bengal Essential Commodities Supply Corporation (WBECSC).

DU served legal notice: Why qualified Madrasah students refused admission to 3 deptts

DU Correspondent

A legal notice was issued on Dhaka University Authority to show cause within three days as to why the students who passed HSC from Madrashah Board would not get admission to the Mass Communication and Journalism, English and Bangla Departments of the University.

Legal notice was served by the Court on the basis of the application of two admission seekers- Mehedi Hasan who secured 48th position and Md Muhsin Uddin who got 185th position in the 'Kha' Unit admission test of the university this year. Their scores in admission test qualify them to get admitted to any department under the Faculty of Arts of DU, informed sources said. The legal notice was issued on the Vice Chancellor Prof SMA Faiz, Pro VC Prof AFM Yusuf Haider, Registrar Syed Rezaur Rahman, Dean of Arts Faculty Prof Sadrul Amin, Examination Controller and the Chairman of the Departments.

Sources said the students would file a writ petition, if they did not get satisfactory response to the legal notice within three days. Barrister Abdur Razzak of The Law Council issued the legal notice on behalf of the students refused admission.

Acknowledging the receipt of the legal notice, DU VC said normally the Deans of the faculties and the Academic Council took decisions regarding admission of students to their departments.

It is learnt that such a decision was taken neither in the meetings of Syndicate, nor the Academic Council or the Deans Committee.

However, the new rule was mentioned in the university prospectus for the current year in which the Madrasah students could not seek admission to the aforementioned departments.

Prof Sadrul Amin, Dean of Arts Faculty said he did not know anything about decision not to admit Madrashah students as he was in jail during the admission test.

Bangladeshi expats asked to obey Saudi laws

BSS, Dhaka

Authorities have appealed to all members of the Bangladeshi community in Saudi Arabia to abide by the local laws, a spokesman of the Ministry of Expatriates' Welfare and Overseas Employment said here yesterday.

He said this when his attention was drawn to a news item in the Saudi Gazette that Saudi police have caught 'red-handed' three Bangladeshis with hundreds of forged passes to Palaces of Saudi Princes.

"Allegations such as this, if true, can threaten our good reputation," said the spokesman.

He further said, "We are confident that all members of the Bangladeshi community will pay heed to our appeals, and the huge majority will not suffer for the faults of a few."

The Bangladesh Mission in Saudi Arabia and the Ministry in Bangladesh are taking all possible measures to motivate the Bangladeshi community in this respect, he added.

He said the flow of Bangladeshi workers to Saudi Arabia is continuing and the number of Bangladeshis exceeds that of any other expatriate community in Saudi Arabia.

Power plant scam: Charge hearing against Hasina deferred till Sunday

Staff Reporter

A special court yesterday once again deferred the charge hearing on the barge-mounted power plant graft case against former Prime Minister Sheikh Hasina to Sunday.

This is for the third time the court deferred the charge-hearing on the case filed by the Anti-Corruption Commission.

Judge M Firoz Alam of the Special Judge Court-I, housed at MP Hostel of Jatiya Sangsad Bhaban Complex, passed the order following a time petition moved by the counsel for Awami League president Hasina, as they could not fully examine the seized documents in the case for preparing the discharge petition.

"The charge-hearing on the barge-mounted graft case will take place on March 9," the judge told the defence lawyers.

"It is the last opportunity. No further plea for deferring the charge hearing will be allowed," the judge further told them and left the court room at about 10:08am.

Earlier, Sheikh Hasina was brought to the courtroom from the Special Sub-Jail at the Jatiya Sangsad Bhaban Complex in the morning.

After the hearing was over, Hasina talked to ten defence lawyers and realatives for 30 minutes taking permission of the court. At that time, Hasina expressed her resentment over her treatment.

On September 2 last year, the Anti-Corruption Commission (ACC) filed the case. It complained that the ex-PM and other accused through mutual understanding and use of influence helped a foreign company and its local partners win a deal for setting up a barge-mounted 100MW power plant in Khulna, depriving the lowest bidder.

Khandaker Delwar leaves for S'pore for treatment

UNB, Dhaka

BNP secretary general Khandaker Delwar Hossain left here Sunday night for Singapore for medical treatment.

Delwar who is suffering from various health complications, including heart ailment, will undergo his medical checkup at Mount Elizabeth Hospital.

Delwar's wife also left with him for her heart treatment.

Acting BNP office secretary Rizvi Ahmed told reporters that Delwar would return home after a week.

In reply to a question, he said BNP wants to sit with the government

for dialogue under the leadership of detained party chairperson Khaleda Zia. He demanded release of Begum Zia and her two sons.

Rizvi said BNP wants the general election first ahead of local body elections. "There will be no election ahead of the parliamentary polls," he said urging the Election Commission to invite Khandaker Delwar Hossain for dialogue.

Ban on edible oil export for 6 months

BSS, Dhaka

The Government has banned the export of edible oil and palm oil for six months with effect from February 28, 2008.

According to an official Handout issued here yesterday, the government took the decision under clause 3(1) of the Import and Export (Control) Act of 1950. The government has taken the decision to ensure an adequate supply of edible oil in the internal market, the handout said.