The New Nation - Internet Edition

Foreign investors hesitate to make long-term investment: Elections by Dec imperative for sustainable democracy: EU

European Commission Delegation Head Ambassador Dr
Stefan Frowein addressing a joint press conference at
Sheraton Hotel in the city on Thursday. Other Ambassadors of
European countries were present. NN photo

UNB, Dhaka

The European Union observed that foreign direct investors are still hesitating to make a long-term investment in the prevailing situation in Bangladesh, saying that elections by December are an imperative for sustainable democracy in the country.

The remarks were made yesterday by EC Delegation head Ambassador Dr Stefan Frowein and other ambassadors of the European countries stationed here at a joint press conference at the Sheraton Hotel on the eve of the European Day today.

“The Foreign Direct Investment (FDI) is still hesitating. There is not enormous investment recorded. For FDI lot of money is available around the world that looks for opportunity to make money. They look for a situation that is stable and security of their money,” Frowein told a questioner.

He said the situation which Bangladesh is now passing through does not speak that everything is fine, everything is beautiful. “Nobody likes emergency, nor do foreign investors,” he said, adding: “You are going through a phase aimed at more democracy and more stable situation.”

Frowein said Bangladesh desperately needs foreign investment and it would come in a big way when the situation will be better politically and economically and investors would get the security of their money.

However, the Ambassador said there are some foreign investments in certain areas as well as local entrepreneurs make investment to increase their exports.

Welcoming the statements of the Chief Advisor and the Election Commission for free and fair election, he noted that an impressive progress has been made in preparing a new voter list.

The EU called upon the political parties to live up to their national responsibility and constructively participate in dialogue with the government and Election Commission to bring about effective party reforms ensuring free and fair elections and sustainable democracy.

On the state of emergency, Frowein said the EU encourages political dialogue and the lifting of the emergency as soon as the situation allows.

The EU also called for upholding the rule of law and ensuring that due process of law is followed in trial, in accordance with the international human-rights obligations of Bangladesh.

Frowein said a European Assessment Mission comprising legal, security and logistic experts would come to Dhaka next month for talk with the people concerned and assessing the pre-election situation.

On the Mission’s recommendation, the EC in Brussels will decide to send election observation team in three forms- Core, long-term and short-term teams.

The press conference was attended by French Ambassador Charley Causeret, Netherlands Ambassador Ten Tusscher, Italian Ambassador Itala Occhi, Danish Ambassador Einar Hebogaard Jensen, German Ambassador Frank Meyke, Swedish Ambassador Britt Falkman Hagstrom, Simon Lever of British High Commission and honorary consuls of other EU countries.

In reply to a question, the German Ambassador stressed the importance

of reforms in political parties to make the future democracy sustainable.

The French Ambassador said political parties should spell out their policies and vision on political, economic and social issues before the polls.

The Danish Ambassador said many foreign companies are investing money in IT and shipbuilding sectors, apart from apparel sector, in the country.

The Dutch Ambassador said they are concerned about the human-rights situation particularly in the CHT and said that the government should expedite the establishment of National Human Rights Commission.

Prince Richard among underprivileged children

Prince Richard, Duke of Gloucestershire of the UK,
British High Commission Anwar Choudhury being welcomed by
the students of UCEP Technical School in Barisal as the
institute was inaugurated by the Prince yesterday. Banglar
Chokh

Our Correspondent, Barisal

Prince Richard Alexander Walter George, Duke of Gloucester and cousin of Queen Elizabeth II of United Kingdom, visited Barisal city yesterday.

He was accompanied by the British High Commissioner in Bangladesh Anwar Chowdhury and Chris Austin, country representative of DFID in Bangladesh.

During his short stay here, Prince Richard inaugurated Barisal Technical School complex for underprivileged children at Kashipur in Barisal.

Speaking on the occasion, the Duke of Gloucester assured continued help and support of his country for different development programmes in Bangladesh.

Besides unveiling the foundation board of the complex, Prince Richard visited various faculties of the complex.

Lt.Col. Hishamuddin, Vice Chairman of UCEP, gave the welcome address.

He also visited different British aided projects in Patuakhali and Sidr affected areas at Majher Char before flying back to Dhaka .

It was the second visit of Prnce Richard to Bangladesh after 1987.

UCEP sources said Barisal Technical School complex has been built at a cost of Tk. 3.56 core on 0.88 acre of land.

The school has a capacity to accommodate 260 students in two shifts a day for four trades.

The trades of the technical school are welding and fabrication, auto mechanics, tailoring and industrial sewing operation and industrial electrical and electronic control.

Earlier in July 2007, UCEP started two interrogated general and vocational (IGV) schools in Barisal, which were raised to four in January 2008.

Boucher calls on Gen Moeen

Visiting US Assistant Secretary of State for South
and Central Asian Affairs Richard Boucher called on Chief of
Army Staff General Moeen U Ahmed at Army Headquarters, Dhaka
Cantonment on Thursday. Photo ISPR

UNB, Dhaka

The visiting US Assistant Secretary of State for South and Central Asian Affairs Richard A Boucher called on Chief of Army Staff General Moeen U Ahmed at Army Headquarters, Dhaka Cantonment Thursday.

He spent sometime with the Army Chief and discussed matters on bilateral issues, said an ISPR release.

US Ambassador to Bangladesh James F Moriarty was also present.

Gas crisis created artificially to accelerate coal extraction

Staff Reporter

With a view to accelerating the process of extracting coal by awarding contract to a foreign company, present gas crisis has been created artificially, said energy experts yesterday.

“Whatever the conspiracy has been hatched, the country’s people will resist it at any cost,” they said.

Energy expert Dr Badrul Imam said that Bangladesh’s control over its coal resources would have to maintain, if necessary, by imposing conditions, keeping control and supervison over the foreign companies. Otherwise, Bangladesh will have to face a disastrous situation regarding its energy requirements in future.

He said excessive dependence on foreign companies for exploration of oil, gas and coal resources might be devastating.

“Only a couple of years ago the previous government took initiatives to export gas though it could not be materialised because of the strong resistance of the country’s people,” he said.

Dr Imam said it is necessary to extract coal for resolving the present energy crisis. But, no well-planned initiatives are visible to extract coal. Though the Draft Coal Policy was presented to the government in December last year after several amendments, no initiative has been taken to approve it.

Dr Aftab Alam Khan said Bangladesh would deprive of food worth US$37 billion if extraction of coal is done in open-pit system in Barapukuria and Phulbari Coal Mine Projects.

He urged the country to tap its resources carefully avoiding losses of life and harming the agriculture.

Organiser of Phulbari Movement Aminul Islam Badal said efforts are being made to win the hearts of the people of Phulbari in Dinajpur with a view to extract coal there in open-pit system. “Perhaps, it is the worst kind of corruption by a foreign company,” he said.

They said the country has already suffered a setback trying to mine coal in the northern Phulbari area, where Asia Energy had to halt activities two years ago after violent protests and blood sheds by local residents and environmentalists. The project would displace at least 40,000 villagers and severely damage the environment.

Prof AAMS Arefin Siddique of Dhaka University urged the government not to go ahead with similar projects. “You should hear the voices of people, not of the foreigners and their appointed people in Bangladesh,” he said pointing to the government adding, “People of Bangladesh will protect its resources at any cost.”

Tribute to Tagore

BSS, Dhaka

The celebration of the 147th birth anniversary of Nobel laureate poet Rabindranath Tagore began across the country yesterday.

The government drew up extensive programmes to celebrate the day at national level that the Chief Adviser Dr Fakhruddin Ahmed inaugurated at 10am at Osmani Memorial Auditorium here.

The inaugural programme was followed by a cultural function.

To mark the day, President Prof Dr Iajuddin Ahmed and Chief Adviser Dr Fakhruddin Ahmed gave separate messages highlighting the colourful life and his contributions to Bengali language and literature.

In his message, President Iajuddin said "Rabindranath is not only a person but also an institution and his distinctive literature and arts would always inspire Bengali- speaking people to do creative work."

Chief Adviser Dr Fakhruddin Ahmed said, "The relation of Rabindranath with Bangladesh is close and his songs and poems had inspired our people during the country's War of Independence." Rabindranath was born in 1861 at Jorashanko Mansion in Kolkata in India. He was the youngest of thirteen surviving children of Debendranath Tagore and Sarada Devi. He was the first Nobel laureate in Asia when he won the Nobel Prize in Literature for his book Geetanjali in 1913.

His two songs are now the national anthems of Bangladesh and India - 'Amar Sonar Bangla, Ami Tomai Valobashi' and 'Jana Gana Mana' respectively.

Bangladesh Betar, Bangladesh Television, private TV channels and radio stations aired the programme live at 10am from Osmani Memorial Auditorium yesterday.

On the occasion, Shilpakala Academy organised a cultural programme based on various creative works of Rabindranath Tagore at Jatiyo Natyashala Auditorium in the city in the evening.

Eminent artistes recited poems, performed dances and rendered Tagore's songs. Besides, various programmes were chalked out to mark the day at Shilaidaha in Kushtia, Patisar in Naogaon and South Dighi in Khulna - the three districts that harbour the memories of Rabindranath Tagore.

The local administrations across the country also organised various programmes to celebrate the day. Bangladesh missions abroad also took such programmes to mark the day.

As part of the national celebrations, Bangla Academy will organize a programme on the poet on May 11 in the Seminar Room.

The government and socio-cultural organizations have taken up extensive programmes to celebrate the great poet's birthday.

Tagore was a poet, visual artist, playwright, novelist, and composer whose works reshaped Bengali literature and music in the late 19th and early 20th centuries.

Tagore wrote novels, short stories, songs, dance-dramas, and essays on political and personal topics. Gitanjali (Song Offerings), Gora (Fair-Faced), and Ghare-Baire (The Home and the World) are among his best- known works.

His verses, short stories, and novels, which often exhibited rhythmic lyricism, colloquial language, meditative naturalism, and philosophical contemplation, received global acclaim.

Indian footwear show tomorrow

Staff Reporter

A two-day 'Buyer-Seller Meet (BSM) cum Exhibition' on Indian footwear component and accessories will start at Bangladesh-China Friendship Convention Centre in Dhaka tomorrow (Saturday).

Commerce Adviser Dr Hossain Zillur Rahman will inaugurate the trade show when acting Indian High Commissioner Mrs Mukta D. Tomar will also be present.

Indian Footwear Component Manufacturers Association (IFCOMA) with the support of Council of Leather Export (CLE) of India, Leather goods and Footwear Manufacturers and Exporters Association of Bangladesh (LFMEAB) and Indian High Commission in Dhaka is organising the event.

The organisers arranged a press conference at a city hotel to announce the programme. IFCOMA president BD Bhaiya spoke at the press conference.

LFMEAB president Saiful Islam and Counsellor of Indian High Commission in Bangladesh were also present.

Thirty Indian firms will display their products and services with a view to forging new business cooperation with footwear manufacturers in Bangladesh, they said at the press conference.

"This is the fourth show of its kind and the participation from Indian companies is increasing with every BSM being held," said

They requested Bangladesh Government to take trade facilitation steps including reduction in duty on footwear and encourage joint ventures between business communities from both countries.

Mobile telephone boosts GDP growth: Experts

UNB, Dhaka

An increase of 10 mobile phones per 100 people boosts GDP growth by 0.6 percent while 1 percent increase in the number of Internet users raises total exports by 4.3 percent, a seminar here was told yesterday.

Ms Tenzin Dolma Norbhu, an ICT Policy Specialist of the World Bank, further observed that countries with better information infrastructure have higher GNP per capita growth. "Information infrastructure is a prerequisite for ensuring competitiveness in an increasingly global economy," she said.

Tenzin Norbhu made the observations in a keynote paper titled 'Core Policy Issues and Global Best Practice' at the seminar held at the BEI conference room with BEI President Farooq Sobhan in the chair.

Bangladesh Enterprise Institute (BEI) organised the seminar on "Telecom and ICT Industry in Bangladesh: The Past, the Present and the Future."

Tenzin Norbhu described ICT as an engine of growth and foundation for an information economy. Referring to the untold opportunities in the IT and IT enabled offshore industry, she said Bangladesh have the potentials to get into the industry, especially software exports.

The ICT policy expert also underlined the need for convergence of telecommunications, computing, software, consumer electronics, etc. "It should be ensured that policy and regulatory environment can help maximize the rewards of convergence," she said. She also emphasized the need for converging laws and bodies or regulatory institutions to ensure better coordination and avoid overlapping of regulatory authorities. The seminar was participated, among others, by Chairman of Bangladesh Telecommunication Regulatory Commission (BTRC) Maj Gen (retd) Manzurul Alam, Post and Telecommunication Secretary Iqbal Mahmood, Executive Chairman of Board of Investment (BoI) Kamal Uddin Ahmed and Chairman of the Securities and Exchange Commission Faruq Ahmed Siddiqi.

Earlier, Chief Executive Officer of Grameenphone Anders Jensen presented another keynote paper on 'Telecom and ICT Industry in Bangladesh' in which he outlined the history of mobile telephony in the country and its contributions to the economy.

He said mobile telephony has been a burgeoning sector since mid-1990s and grew very fast with six companies now operating in the country having a total of some 39 million subscribers.

Jensen said Tk 24,000 crore have so far been invested for building the mobile infrastructure in the country. He called for public-private cooperation to sustain the growth of mobile telephony and ICT sectors.

Addressing the seminar, BTRC Chairman Maj. Gen. (retd) Manzurul Alam said the Commission is trying to address the problems facing the mobile telecom and ICT sectors and would ensure an efficient spectrum management.

He said an alternative submarine cable would soon be put in place in partnership with the private sector to further improve global connectivity.

The seminar was attended by top officials and experts from different mobile operators, including Banglalink CEO Rashid Khan, Citycell CEO Michael Seymour, Aktel Chairman Salahuddin Kasem Khan, Warid Telecom CEO Muneer Farooki and Country Officer of Citibank N.A Mamun Rashid.

DSE ends week with 19 points gain

Staff Reporter

The Dhaka Stock Exchange (DSE) witnessed a comparatively slow trading market week, which closed trading yesterday, adding 19.20 points in the General index closing at 3072.85 points.

During the week, liquidity crisis led investors to take a cautious stand during the week, experts added.

According to market leaders, it was a positive sign for the share market growth as investors showed equal interest, both in buying and selling.

"In fact, traders are mentally preparing themselves for the arrival of new private and public sector companies in the share business, like the Telecom, which are expected in coming months," said an investor.

Index levels of all three categories mostly remained into the green zone throughout the week. DSE 20 Index gained total 20.05 points, closing the week at 2355.25 points.

Total 18.92 points growth was also witnessed in the DSE Share Price Index.

At the end of this week total 8.8 crore shares of 286 companies were traded. In a week time, total turnover increased by 51.52 per cent as reported. In opening, DSE market capitalisation was Tk 85522.98 crore. After a week trading it closed with Tk 86018.58 crore, increased by 0.58 per cent.

On the closing day, investors showed interest in take-off of their invested amounts, particularly from the Pharmaceuticals and chemical shares. At the same time, the market also witnessed some buying plea in the baking and financial sectors.

Profit taking led pharmaceuticals major ACI to erode the previous day's gains. It finished with 0.24 per cent lower at Tk 282.20 per share. Among other Pharmaceuticals and chemicals scrips, Square Pharma, Keya Cosmetics and Beximco Pharmaceuticals also witnessed significant sale pressure on the day.

At the end of the day's trading, The General index rose on the opening bell until the first three hours before maintaining a downward curve afterwards to lose 17.14 points or 0.55 per cent to close at 3079.09.

The DSE or all-share price index ended on 2600.71, falling 11.93 points or 0.45 percent from the previous day. The bourse's blue chip, DSE-20, finished 2.57 points, or 0.10 percent lower at 2371.21.

Turnover slipped to Tk 2.69 billion from Tuesday's Tk 2.73 billion, with 20,074,657 shares changing hands.

Gas crisis created artificially to accelerate coal extraction

Staff Reporter

With a view to accelerating the process of extracting coal by awarding contract to a foreign company, present gas crisis has been created artificially, said energy experts yesterday.

"Whatever the conspiracy has been hatched, the country's people will resist it at any cost," they said.

Energy expert Dr Badrul Imam said that Bangladesh's control over its coal resources would have to maintain, if necessary, by imposing conditions, keeping control and supervison over the foreign companies. Otherwise, Bangladesh will have to face a disastrous situation regarding its energy requirements in future.

He said excessive dependence on foreign companies for exploration of oil, gas and coal resources might be devastating.

"Only a couple of years ago the previous government took initiatives to export gas though it could not be materialised because of the strong resistance of the country's people," he said.

Dr Imam said it is necessary to extract coal for resolving the present energy crisis. But, no well-planned initiatives are visible to extract coal. Though the Draft Coal Policy was presented to the government in December last year after several amendments, no initiative has been taken to approve it.

Dr Aftab Alam Khan said Bangladesh would deprive of food worth US$37 billion if extraction of coal is done in open-pit system in Barapukuria and Phulbari Coal Mine Projects.

He urged the country to tap its resources carefully avoiding losses of life and harming the agriculture.

Organiser of Phulbari Movement Aminul Islam Badal said efforts are being made to win the hearts of the people of Phulbari in Dinajpur with a view to extract coal there in open-pit system. "Perhaps, it is the worst kind of corruption by a foreign company," he said.

They said the country has already suffered a setback trying to mine coal in the northern Phulbari area, where Asia Energy had to halt activities two years ago after violent protests and blood sheds by local residents and environmentalists. The project would displace at least 40,000 villagers and severely damage the environment.

Prof AAMS Arefin Siddique of Dhaka University urged the government not to go ahead with similar projects. "You should hear the voices of people, not of the foreigners and their appointed people in Bangladesh," he said pointing to the government adding, "People of Bangladesh will protect its resources at any cost."

6 fugitives held, arms, ammunition recovered

Staff Reporter

The Rapid Action Battalion (RAB) yesterday arrested six fugitive accused along with arms and ammunition from the city.

Acting on a tip off, a team of RAB-2 arrested Mansur Ahmed Mohan alias Suman, 23, Kamruzzaman alias Kamrul, 28, Munna, 38, Parvez Hossain alias Rony, 22, Jasim Uddin, 26, and Sona Miah, 35 from different parts of the city by conducting raids in between 1:00am to 2:00am.

Following their confessional statements, the elite forces raided a house at South Paikpara in Mirpur and recovered one revolver, one pistol and huge ammunition from inside a wooden showcase kept under the stairs of the three-storied building.

It may be mentioned that on April 21 this year, the arrested people allegedly gunned down a man and injured two others in Adabor area in the city. RAB handed over the arrested people to the police.

Nude Mother India not obscene: Delhi court

Internet

A court in the India has dropped legal proceedings in three cases against one of the country's best-known and controversial artists.

MF Husain has been accused of obscenity in at least seven cases filed against him in a number of Indian states.

He is alleged to have offended Hindus with a painting in which he represented India as a nude goddess.

In dropping criminal proceedings against the painter, the Delhi court said the painting was not obscene.

Under Indian laws, obscenity is a criminal offence.

Husain has been living in the Middle East after the rash of cases filed against him.

"The high court said the 92-year-old painter deserves to be at home, painting his canvases," said Akhil Sibal, Husain's lawyer. He said Husain had said that the nudity in his painting was an "expression of purity". In 2006, Husain had publicly apologised for the painting. He promised to withdraw the controversial painting from a charity auction, after Hindu nationalist groups accused him of hurting their religious sentiments. Husain's work has been critically acclaimed. The nude painting sparked off a series of obscenity cases. The cases were all transferred to the high court in Delhi after a request by Husain's lawyers. Husain is one of India's leading painters. His paintings are much sought after and are auctioned for millions of dollars. He has also made two Bollywood films, although both failed at the box office.