The New Nation - Internet Edition

Five-day attachment programme on rural development and poverty reduction ends at BARD

UNB, Comilla

A five-day attachment programme on rural development and poverty reduction ended at Bangladesh Academy for Rural Development (BARD) here on Thursday. Some 100 participants of 41st Foundation Training Course of Bangladesh Public Administration Training Centre (BPATC), Dhaka from different cadres of BCS took part in the programme. The prime objective of the course was to orient the participants with the concepts of rural development and poverty reduction efforts in Bangladesh. The participants also analysed the socio-economic condition of the rural people through field survey. MDS, BPATC Syed Mahbudur Rahman attended the programme as chief guest while Director (Admin) of BARD Alauddin Ahmed presided over the closing session and distributed certificates among the participants. Among others, Director (Training) M Mir Kashem and Director (Rural Education) Dr Kamrul Ahsan also spoke on the occasion, said a press release.

Taiwan to invest Tk 112cr in Karnaphuli EPZ

ECONOMIC REPORTER

M/s. Cosmos Shoes International Limited a Taiwan company will set up a Footwear Manufacturing Industry in the extension area CSD of Karnaphuli Export Processing Zone.

This 100% foreign owned company will invest about Taka 112 crore in setting up their plant and will produce to export annually 2,500,000 pairs Finished Footwear.

The company will also create employment opportunity for 3117 Bangladeshi including 17 foreign nationals.

An agreement to this effect was signed between the Bangladesh Export Processing Zones.

Authority and the M/s. Cosmos Shoes International Limited in BEPZA Complex, Dhaka Tuesday (12-06-2008). Prasanta Bhushan Barua, Member (Investment Promotion) of BEPZA and Chuang, Feng Jiunn (Jeff), Chairman of M/s. Cosmos Shoes International limited executed the agreement on behalf of their respective organisations.

Among others General Manager (Investment Promotion) S M Abdur Rashid, Manager (Industrial Relations) Md. Abdus Sobhan of BEPZA and Managing Director of the Company Chen, King Chuan were present at the signing ceremony.

Japan-Bangladesh Group urges to recognise Kosovo

ECONOMIC REPORTER

Many countries of the world recognised Kosovo as an independent country though Bangladesh is yet to recognize.

Salim Prodhan, chairman Japan-Bangladesh Group urged the government to recognise the newly born country. Peoples of Kosovo achieved their independence through great sacrifices by ousting dictator Melosevich. The liberation war of Kosovo is same as the liberation war of Bangladesh in 1971.

Japan-Bangladesh Group organised a press conference at National Press Club on Tuesday where Salim Prodhan spoke at the press conference. Among others, SM Rashed Ahmed, former UN Ambassador to Kosovo was present. In his keynote paper, Rashed Ahmed highlighted its geographical, historical, cultural and socio-economical conditions and said about the history of liberation war and reverse condition Kosovo.

Japan-Bangladesh Group argued if the government recognized Kosovo as a Muslim populated country, Bangladesh might make friendship by trade and commerce. Salim Prodhan added if government takes this opportunity Bangladesh would be benefited by exporting its goods to Kosovo, as a European country.

ICMAB's opinion on proposed nat'l budget : Salary hike of govt employees to escalate price of essentials

ECONOMIC REPORTER

The proposed budget of 2008-09 is a good one to meet short term targets.

The nation does not expect a long-term target-oriented budget from a caretaker government. So, the proposed budget may be treated as a good one to meet the short-term targets of the nation. Adequate budget allocation for social safety net, women and children welfare, disaster management (climate change) etc are welcome steps. Highest priority has been given to agriculture and rural development, which is also a good sign to make the budget people oriented. Under the present price hike situation of the global food crisis, compared with 'Tsunami' and 'globalization of hunger', the whole world has taken necessary steps to face the challenges of food crisis. But the proposed national budget 2008-09 has not been able to give any good news in this regard. The declaration of the salary increase of the government servants may further increase the price of essentials. This is for the first time the government has held several meetings with different business communities and professional bodies. Almost every body suggested to fix up minimum taxable limit for individual tax payer at more than Tk 2 lakh but the proposed budget has not shown any respect to that suggestion. The government's earnings shall be increased without hurting the common people.

The middle class seems to have been neglected in the proposed budget, whereas the growing middle class is treated as life blood of market economy. The proposed budget 2008-09 has been prepared in a traditional old style ignoring the suggestions of new dynamic changes. The budget has rightly shown sympathy to the regional disparity, but failed to announce any tax and fiscal incentives for encouraging new private investments, which creates employment opportunities. Only a budget allocation of Tk 100 crore for the extreme poverty stricken areas is not enough. This may help the poor people for the time being, but will not bring any positive economic changes. It is well understood that without increasing the production of electricity and gas desired industrialization couldn't be done. The proposed budget has not given any good news in this regard.

Discretionary power of taxmen has been reduced, which is welcome step. The budget has tried to satisfy the business community by reducing corporate tax rate without ensuring transparency of the financial statements of the business houses. Revenue collections cannot be increased with this; rather there is a possibility to be decreased. It is also proposed to increase tax net, but no technique has been declared as to how to increase the tax net. As such, the sufferings of honest tax payers may be increased and the ambitious revenue collection target many not be fulfilled.

It is believed that now is the high time to put the national economy on a strong footing because the present government has no political ambition. The proposed budget has allocated substantial amounts within the ability of the government for poor people, women and children welfare; but there is no effective initiative to develop the economy into the desired level. However, it seems the proposed budget has been prepared with a good intention and the Finance Adviser has been successfully able to identify the major national economic problems. It is time to bring necessary changes in the proposed budget in line with the people's desire and make the budget for the people because the government itself is for the people.

Six Sonali Bank officials suspended for irregularities

ECONOMIC REPORTER

Six officials of Sonali Bank, Narayanganj Corporate Branch, have been suspended for their alleged involvement in various irregularities.

The suspended officials are deputy general manager Chowdhury Abdul Hannan, assistant general managers Ali Ashraf and Hanif Ali, principal officer Nuruzzaman (now posted in Barisal), and senior officers Bahar Ali Hawladar and Bimal Kumar.

Bank sources said they have been suspended on charges of their various irregularities including in loan disbursement and opening letters of credit (L/Cs) against forged documents.

In primary investigations, the bank authorities found huge irregularities in the papers for the year 2007 alone. Further investigations are going on.

Etihad opens new business class lounge

AVIATION REPORTER

Etihad Airways has opened a new dedicated business class lounge at its Abu Dhabi airport home base which offers the airline's business class customers a wealth of state-of-the-art relaxation and entertainment facilities in addition to around-the-clock dining.

The new Terminal 1 business class lounge follows the opening in January of a separate new lounge dedicated to first class customers and is part of a major overhaul of Etihad's premium customer experience at Abu Dhabi airport.

More than three times the size of Etihad's previous premium lounge, the business and first class lounges can now cater for up to 200 customers at anyone time and are situated on the first floor of the airport.

Geert Boven, Etihad Airways' executive vice president sales and services said: "Etihad is extremely proud to open our new business class lounge at Abu Dhabi airport which continues the airline's aim of providing the best service to our customers whether in the air or on the ground."

"Etihad has received great feedback from our customers following the opening of the first class lounge earlier this year and we look forward to welcoming our business class customers to this wonderful new haven."

Customers can choose between the "chic" dining areas, relaxing lounge or the study-themed timber-panelled business centre which is equipped with workstations, internet access and power points for laptops.

Apollo Hospitals hold health care awareness

ECONOMIC REPORTER

Apollo Hospitals Dhaka recently organised health care awareness programme on Physical and Daily Diet for hypertension, cardiovascular, diabetes and related surgery at the Institution of Engineers, Dhaka where knowledge and guidelines were disseminated to institute members.

Dr Syed Sakib Nazir, consultant and coordinator of Cardiology Department and Dr Sohail Ahmed and Dr Zulfikar Haider from Cardiothoracic Surgery of Apollo Hospitals Dhaka conducted the programme. Presided over by Professor SM Nazrul Islam, chairman, Institution of Engineers, Dhaka, the programme was attended by Professor Md Anwar Hossain, vice chancellor, Ahsanullah University of Science ClTechnology and Dr Ed L Hansen, CEO of Apollo Hospitals Dhaka as chief guest and special guest respectively.

World Environment Day celebrated at NUB

Environment Club of Northern University Bangladesh (NUB) organized a seminar on "Climate Change" in observance of World Environment Day 2008 in Business Campus auditorium. Dr. Muhammad Ibrahim Prof. dept. of Physics, DU & Executive director, CMES (Center for Mass education in science) was present as chief guest while Dr. Ekramol Islam, Asst. professor of Department of Business Administration presented the keynote papers. presided over by Prof. Dr. M. Shamsul Haque, Vice-Chancellor of NUB. Among others Prof. Dr. M. Azhar-ud-Din, Dean, Faculty of Business, Professor M.A. Razzaque, Head, Dept. of Business Administration, were presented the occasion.

Prof. Dr. Muhammad Ibrahim expressed that the natural environment of present world becomes polluted for various reasons. So that environment becomes imbalance day by day. So, we have no other ways to take initiative to prevent for prevention to continue the human race in the world.

Prof. Dr. M. Shamsul Haque vice-Chancellor of NUB in his speech stressed that the present world is in threaten position. People pollute the environment by their different activities. The level of pollution among the 3rd world continues are comparatively more than that of others. So that we have to care of our activities to save the world from pollution. He urged to create a movement to save the world from pollution.

Steel, re-rolling millers seek duty gap of raw materials and finished product

ECONOMIC REPORTER

Steel and re-rolling millers have demanded removal of duty anomalies on import of raw materials and finished products to protect the domestic mills. Identical 7 per cent duty on the import of raw materials and finished products as proposed in the new budget will adversely affect the MS rod manufacturers resulting in ultimate closer of their mills, said the mill owners at a press conference on Wednesday.

Leaders of Bangladesh Steel Mill Owners Association (BSMOA) and Bangladesh Re-rolling Mills Association (BRMA) jointly held the press conference at Dhaka Reporters Unity.

They hailed budgetary measures reducing the duty on import of raw materials for steel and re-rolling mills. This will help reduce the MS rod price in the market. "But the rising price trend of raw materials in the international market may off-set the salutary measure," cautioned BRMA general secretary Sheikh Masadul Alam Masud.

The association leaders termed the steel market as volatile that witnessed sharp rise in MS rod price during the last seven months.

The 60 grade MS rod is now selling at Tk 72,000 and 40 grade Tk 65,000 per ton. The leaders of both BSMOA and BRMA demanded an equal duty on import of melting scrap and ship scrap.

They said in the new budget, the import duty of melting scrap set at Tk 1,500 while the import duty on ship scrap remained at Tk 1,000 per ton. "This is another discrimination that will distort the fair competition," said BSMOA secretary general Bashirullah.

Save the Children UK hails Bangladesh govt

ECONOMIC REPORTER

Save the Children UK highly appreciates and acknowledges the efforts of the government of Bangladesh in the formulation of the 'National Child Labour Elimination Policy.'

The policy is a testimony of the commitment and sense of accountability of the government towards child from poor households and is indicative of the government's aspiration of a healthy and prosperous future for the country.

The National Child Labour Survery of BBS, 2003 stated that 1.3 million children are in hazardous labour in Bangladesh and the total population of working children is 3.2 million. Of these, 93.3 per cent are in informal sector. 4.6 per cent of these children, in both urban and rural areas start working at the age of 5-9 with or without any remuneration. Save the Children UK believes that the policy, along with strong leadership by the government, will go a long way in helping overcome the current situation.

We congratulate the government of Bangladesh on this and reaffirm our deep commitment to working with the people and the government of Bangladesh in addressing issues related to children's developments.