The New Nation - Internet Edition

'Investors showing no interest in investment' : BCI calls to make industrial sector out of load shedding as production being hampered for lack of power supply

BUSINESS REPORT

Bangladesh Chamber of Industries (BCI) has said that investors are showing no interest for investment though an investment-friendly situation is prevailing in the country.

"Industrialisation may face retardation due to lack of investment in the existing situation. Industrial production is being hampered for want of power supply and that is why industries are facing difficulties to fulfill production targets," said BCI Vice-President Shamsur Rahman at a meeting with Special Assistant to Chief Adviser Mahbub Jamil at the Ministry of Industries at Motijheel in the city on Wednesday.

The meeting elaborately discussed the recent political situation, industry, trade and commerce.

BCI Directors AM Badruzzaman Khan Khasru, Md Rajjab Sharif, Obaidur Rahman, Md Abdul Tahid Majumder, Enayet Ullah Siddiqui, M Nasir and Priti Chakraborty spoke on the occasion.

Shamsur Rahman pointed out that the main problem of industrialisation is to mobilise capital. "Banks and financial institutions do not disburse capital in time showing various terms and conditions. On the other hand, entrepreneurs have been expressing negative attitude towards investment due to high bank interest rate, weak management of the loan giving financial institutions, critical procedure of loan management and above all, lack of capital," he said.

The BCI Vice-President said at present, banks approve project loans at 60:40 ratio. "But, we think that project loan should be approved at 80:20 ratio for the sake of industrialization. It means that banks will give 80 per cent and entrepreneurs will provide 20 per cent," he said.

He called for reducing bank interest rate at a reasonable level as existed in the neighbouring countries.

Shamsur Rahman said the investors are not expressing any interest to investment though an investment-friendly situation is prevailing in the country.

"Industrialization may face retardation due to lack of investment in the existing situation," he said.

The BCI leader observed that industrial production is being hampered for want of adequate power supply and that is why the industries cannot fulfill the production targets.

"But, industrialisation is the driving force of economic development. Our prime goal is to reduce unemployment and to bring economic stability through industrialization. But the industrialization is being hindered in various ways. So it is necessary to diversify and strengthen the industrial sector for meeting the challenges ahead in the world," he said.

He noted that adequate investment is a must for setting up more industry and ensuring quality products. Special incentives have to be given to special sector for expedition of industrialization and tax holiday facilities have to be allowed if any entrepreneur sets up industry at a certain area, he added.

The BCI leader said that there should be a reasonable difference of duty between finished products and basic raw materials. They proposed to reduce the duty of basic raw materials from 10% to 5%.

He urged the Special Assistant to declare the industrial sector out of load shedding for smooth economic activities and demanded to exempt the minimum rate of power.

Shamsur Rahman also demanded for port development and new deep seaport, control prices of the essentials and illegal syndicate business immediately.

He expressed heartfelt thanks to the Special Assistant for giving his valuable time and welcomed the steps taken by the Caretaker Government for steps to hold a free, fair and neutral election.

In his speech, Mahbub Jamil said that caretaker government has taken various steps to bring the country in a real shape. He supported BCI's demand put by the delegation members. He further said that now the country is in gas crisis. To meet the demand, exploration work has been expedited. 1000 MW electricity will be added to the national grid within coming December, he added.

He further said that the situation would not improve if corruption persisted. "We should hate crimes and criminals," he suggested.

Mahbub Jamil also said that the good industrialists should be rewarded for their good work.

The meeting was attended, among others, by BCI Directors Omar Farooque Bhuiyan, Shamim Ahmed, Shahidul Islam Niru, Delower Hossain Raja, ZJAS Siddique, KM Zakir Hussain and Jahangir Alam.

BSB sanctions Tk 37.37cr loan, disburses Tk 24.14cr in 9 months

BUSINESS REPORT

Bangladesh Shilpa Bank (BSB) has sanctioned loan of Tk 37.37 crore to 10 projects and disbursed Tk 24.14 crore during last nine months of the current financial year 2007-2008.

This was disclosed at a conference of zonal and branch heads of BSB held at its head office on Wednesday, said a press release.

It said the bank has also recovered about Tk 66.20 crore and collected deposit of Tk 62.36 crore.

Besides, 13 BSB financed projects have liquidated their loan accounts with the bank. The newly sanctioned projects will create employment opportunities for 816 persons.

It was also informed that the bank has earned pre-tax profit of Tk 12.87 crore during the last financial year.

Secretary of the Economic Relations Division and chairman of BSB board of directors Aminul Islam Bhuyiyan and BSB managing director (in-charge) Dr Nazmul Bari, among other, spoke at the conference.

Zonal and branch heads and senior executives of the head office participated in the conference.

Premier Bank workshop on 'Scope of Islamic Banking'

BUSINESS REPORT

A two-days long workshop on 'Scope of Islamic Banking' was held at the Premier Bank's Training Institute, Iqbal Center, Banani in the city.

As many as 31 senior officials attended the workshop. The workshop was conducted by Principal to the bank's traioning institute Asoke Bandhu Das.

BH Haroon, Vice Chairman of the Board of Directors of the Premier Bank Limited was present in the workshop as chief guest. Abdus Salam Murshedy, Director of the bank and renowned Islamic scholar M Azizul Haque were present as special guests.

Khondker Fazle Rashid Managing Director and Md. Mokhlesur Rahman, Addl Managing Director also attended the workshop.

Fund raising concert for immunization begins at Hotel Sheraton today

In a noble initiative to helping the children across the world to immunize against the fatal childhood diseases, a fund raising concert will be held at the Winter Garden of Hotel Sheraton on Friday evening.

The Dhaka Sheraton Hotel and the Ntv are jointly organizing the concert in association with Nescafe, Panasonic and Rahimafrooz in relation to the 'Check out for Children' programme for the Unicef.

The organizers informed this at a press conference held at Hotel Sheraton on Wednesday.

Acting general manager of the hotel Mahfuzur Rahman said 'Check out for children' is a global partnership between Starwood hotels and Resorts and Unicef.

"When checking out of their hotels, Starwood guests are invited to donate US$ 1 or local currency equivalent to the unicef's immunization programme worldwide," Rahman said.

He mentioned that last year Dhaka Sheraton Hotel raised Tk 360,000 for donation.

Unicef chief of Communication Christine Jaulmes described her organization as the world's leading advocate and aid agency in promoting and protecting the rights of the children.

She said over 7,000 unicef staffs in over 150 countries are helping to promote child health, development and survival by providing essential medicines, vaccines, education, health and emergency supplies.

Programme chief of Ntv Mostofa Kamal Syed, head sales of Radiofoorti Ehsan Mahboob and assistant communication manager of Sheraton Jayed Shams Mahbub, among others, were present.

The entrance fee for the concert is fixed at Tk 700 for individual and the tickets will be sold at Sheraton Hotel lobby, organizers said.

IBBL holds workshop on Capacity Building: Call for improving professional efficiency to hold first position

BUSINESS REPORT

Mominul Islam Patwary, Chairman of the Executive Committee of Islami Bank Bangladesh Limited (IBBL), has called for improving the professional efficiency and expertise so that Islami Bank can sustain its first position in the country's banking sector in future.

He was speaking as the chief guest at the inaugural session of a workshop on 'Capacity Building and Business Promotion in Foreign Trade and Remittance' at a restaurant in the city recently.

The workshop was organised by International Banking Wing of Islami Bank Bangladesh Limited.

Presided over by Md. Habibur Rahman, Deputy Executive President the workshop was attended, among others, by Md Abdul Jalil, Md Mahbub-ul-Alam, Executive Vice Presidents, Md Abdul Jabbar, Senior Vice President, Khondoker Munirul Alam Al-Mamun, Md Siddiqur Rahman, Vice Presidents of the bank. Officials from foreign business of the authorised dealer branches of the bank participated in the workshop.

M. Fariduddin Ahmad, Executive President was present in the closing session as the chief guest.

It was presided over by Md Habibur Rahman, Deputy Executive President. The workshop was attended, among others, by Md Abdul Jalil, Mahbub-ul-Alam, Executive Vice Presidents, Md. Abdul Jabbar, Senior Vice President, Khondoker Munirul Alam AlMamun, Md. Siddiqur Rahman, Vice Presidents of the bank.

Md. Habibur Rahman, Deputy Executive President in his presidential speech urged the participants to acquire knowledge on the application of modem technology and play role in the international business of the country.

Navy seizes Tk 100cr current nets, jatka in two months' operations

Bangladesh Navy seized 1.90 crore meters current nets and 800 kg 'jatka' worth about Tk 100 crore in last two months under "Operation Jatka" programme that launched on February 10 this year.

Nine navy ships from Chittagong and Khulna naval areas conducted nearly 70 drives during the period, said an ISPR release on Wednesday.

The seized nets were destroyed in presence of local administration and district fishery officers concerned.

Bangladesh Navy will continue the operation till May 31 this year to protect Silvery Hilsha from extinction, the release also said.

Dr Anil Bhaya invited as International Faculty

Dr Ani! Kumar Bhaya, Consultant and Coordinator-Radiology & Imaging of Apollo Hospitals Dhaka was invited as an International Faculty at the South Asian Conference on Radiology (SACOR) at Katmandu, Nepal recently.

He delivered two keynote speeches there '64 Slice MDCT Angiography: Head to Toe' and 'MRI of The Pelvis.'

The conference was attended by 350 delegates and had faculty from Japan, Hong Kong, USA, India, Saudi Arabia, Pakistan, Sri Lanka, and England.

Dr Bhaya has also recently attended the 61st National Congress of Radiology held at Bangalore, India as an international faculty where he delivered one lecture, presented two key note papers and chaired one scientific session.

Dr Mujibur Rahman Khan New Secretary General of IBB

Dr Mujibur Rahman Khan has joined the Institute of Bankers Bangladesh (IBB) as its Secretary General. Dr Khan, a renowned technocrat-banker, worked in a number of international organizations as an agro-business specialist. He also served in various Banks/FIs as a senior executive. Before joining IBB, he was the Managing Director of Ansar-VDP Unnayan Bank. He travelled many countries including Turkey, Russia, Malaysia, Philippines, Australia and New Zealand.

ACME introduces Dolonil SR

The ACME Laboratories Ltd has recently launched sustained

release formulation of Tramadol HCL as DOLONIL SR tablet 100 mg.

DOLONIL SR tablet is the first manufactured sustained release formulation of Tramadol HCI in Bangladesh. DOLONIL SR tablet is a potent painkiller and is indicated in post-operative pain, traumas and fractures, musculoskeletal pain, neurogenic pain, cancer pain etc. DOLONIL is a centrally acting synthetic opioid analgesic with fewer side effects. DOLONIL is as effective as pethidine with reduced respiratory depression, sedation & constipation. DOLONIL SR tablet minimizes the dosing frequency as it requires to be taken twice daily whether immediate release formulation of Tramadol HCI requires 4-6 times daily for complete therapeutic action. DOLONIL is currently available in SR tablet, capsule and injection form. Each box of DOLONIL SR tablet contains 16 tablets (2 x 8's) in blister strips and price is Tk 14 per tablet.