The New Nation - Internet Edition

ASEAN to prepare oil stockpiling roadmap

VNA, Bangkok

The ASEAN Ministers on Energy Meeting (AMEM) plus 3 (China, Japan, and the Republic of Korea) recently have agreed to jointly study how to prepare a regional oil stockpiling plan to prevent shortages and reduce impacts of oil price surges in the future. Revealing results of the 26th AMEM being held in Bangkok, Thai Energy Minister Lt-Gen. Poonpirom Liptapanlop said Thailand had pushed for a basic connection of energy sources under the ASEAN framework. The project involves an international gas pipeline linkage from Indonesia's Nutuna gas field to Thailand, Singapore, Vietnam, and Malaysia, and a power transmission line connection, according to the Thai News Agency (TNA). A signing of the agreement would take place at the ASEAN Summit to be hosted by Thailand late this year.

The Thai Minister said AMEM plus 3 approved the preparation

of the regional oil stockpiling roadmap aimed at encouraging

development of energy reserves to prevent a possible shortage and

ease impacts of the oil price hike in the future.

It also agreed to conduct the energy demand outlook in ASEAN

based the scenario analysis in 2005-2030.

2.29 lakh tonnes of rice to be sold under OMS: Each to get maximum 3 kg at Tk 28 a kg

BUSINESS REPORT

In order to provide food support to poor and lower income group of people across the country during the month of Ramadan, the government has allocated some 2.29 lakh metric tones of rice for selling under the open market sale (OMS) which begins on August 20 next.

However, the quantity of rice has been reduced by two kilograms per head compared to the quantity given under the previous OMS.

Under the previous OMS, suspended about two months ago, five kilograms of rice were sold to each person.

On the other hand, the Ministry of Food has agreed to provide 6,000 metric tonnes of rice to Bangladesh Rifles (BDR) for selling under the OMS during the month of Ramadan. However, the BDR authorities sought 20,000 metric tones of rice from the ministry.

Sources at the Ministry of Food told The New Nation yesterday that the government had planned to sell 2.50 lakh metric tones of rice under the coming OMS programme during the Ramadan.

On the occasion of Ramadan, the BDR will start selling rice from August 15, while the Ministry of Food will begin selling of rice under the OMS from August 20 across the country.

For selling the rice, 150 more dealers are going to be appointed by the government. Under the coming OMS rice will be sold at Tk 28 per kg.

Sources said some 2.20 lakh metric tones of rice were allocated under the previous OMS some three months ago of the current fiscal year. The quantity has been raised by 9,000 metric tones for the coming OMS. Under the OMS, a dealer will receive 500 kilograms of rice a day. A buyer will be given three kilograms of rice every day, which was five kilograms under the previous OMS.

According to the sources, there are now some 7,900 OMS dealers across the country. There were allegations of corruption and irregularities found against 251 dealers during the previous OMS operation. The Ministry of Food has decided not to sell rice through those accused dealers. Besides, 32 dealerships have been cancelled following serious allegations of corruption against them.

Sources said the Ministry of Food has already asked the Directorate of Food to take necessary steps so that no crises or irregularities take place during the OMS operation in the month of Ramadan.

Besides, the Directorate of Food has been directed to appointing the necessary number of dealers and strengthening the monitoring system in order to overcome the crisis.

A senior official of the Directorate of Food told The New Nation yesterday that allocation of rice under the coming OMS would be raised further if there were more demand.

He said the ministry concerned knows how much rice would be given to the BDR for selling under the coming OMS. "We'll hand over the rice instantly after receiving order from the Ministry of Food," the official said.

On the other hand, a high official of the BDR told The New Nation yesterday that they had taken all preparations for selling rice under the government's OMS programme. "We'll start selling rice from August 15 whether we receive rice from the government or not," the official said.

The BDR has already purchased 2,000 tonnes of rice from the Senakalyan authorities. "With this rice we want to start our rice selling programme during the month of Ramadan," he said.

Merger of BSB, BSRS under way: Zonal and Branch Heads' conference held

BUSINESS REPORT

Bangladesh Shilpa Bank (BSB) sanctioned Tk 92.07 crore to 20 projects and disbursed Tk 38.41 crore during the last financial year of 2007-08). At the same time the bank recovered Tk 98.12 crore and collected deposit of Tk 63 crore.

Besides 21 BSB financed projects have liquidated their loan accounts with the bank. The newly sanctioned projects will create employment opportunities for 1,600 persons.

This was disclosed by Md Mizanur Rahman, Managing Director of BSB at a day-long conference of Zonal and Branch Heads of the bank held on Monday at the bank's Head Office in the city.

Earlier Md Aminul Islam Bhuiyan, Secretary, Economic Relations Division and Chairman, BSB Board of Directors formally inaugurated the conference.

In his inaugural speech, Bhuiyan said that world economy was changing in a new dimension. For this, it is necessary to reshape the bank. It is a common idea that the government cannot do business. Despite limitation, the government organisations are doing well in many countries.

"We have good workers in banks although there are some leadership problems," he said.

He said success of a bank depends simply on sincerity and honesty of the officers and staff of the bank.

In his speech, Md Mizanur Rahman said that progress of merger of BSB and BSRS was going on.

He hoped that such merger would improve the overall position of the bank.

"We have to work together to achieve our goal. It should be borne in mind that our existence depends on the existence of the bank. We have to work hard with utmost sincerity and deep devotion for continued success of this bank. It is necessary to improve our customer service. Concerted efforts should be taken to recover written of loans," he said.

Zonal and Branch Heads and senior executives of the head office participated in the conference.

Aristopharma starts bioequivalence research of medicines in Bangladesh

Aristopharma Ltd, a leading pharmaceutical company of the country has started conducting bio-equivalence research of its medicines for the 1st time in Bangladesh.

By bioequivalence research it is seen whether the local drug is equivalent to the research drug in human body. Such report gives confidence about the quality of a drug as well as helps to export the drug to developed countries.

Aristopharma conducted the 1st bioequivalence research on its antiulcerant drug, Omep capsule in the Department of Clinical Pharmacy and Pharmacology of Dhaka University and the study showed that Omep is bioequivalent to the research brand of AstraZeneca, Sweden and hence they are interchangeable. As the price of Omep is only Tk 4 each cap whereas the international price of research brand is Tk 141/cap, the use of Omep would provide the patients a similar drug at much lower price. Principal Researcher and Associate Professor of Clinical Pharmacy and Pharmacology of Dhaka University Dr Abul Hasnat disclosed the information in a scientific seminar held recently at a city hotel.

Prof Dr. AKM Rafique Uddin, ex-professor and Head, Department of Medicine, Dhaka Medical College presided over this seminar and Prof Dr Md Tahir, Vice-Chancellor, Bangabandhu Sheikh Mujib Medical University was present as the chief guest.

Prof Dr Choudhury Mahmood Hasan, Chairman, BCSIR, former Director of Drug Administration and former Dean of Faculty of Pharmacy, Dhaka University was present as special guest.

Prof Dr ASMA Raihan, Chairman, Dept of Gastroenterology, BSMMU discussed the importance of bioequivalence study in clinical practice. Chairman and Managing Director of Aristopharma MA Hassan, Director (Marketing and Commercial) Md Mahboob Hassan, Director (Production) Mahmud Hassan, Director (Finance and Administration) Md Sahid Hassan, Marketing Manager Noor Hossain and other managers of the company were also present at the seminar. Almost 800 doctors from all over the country participated in this seminar. The doctors appreciated the focus of Aristopharma in research and development of pharmaceutical sector of the country.

Training program on PC, Internet for Women Entrepreneurs held

BUSINESS REPORT

A two-day training programme on 'PC and Internet for Women Entrepreneurs' was held at the Knowledge Centre organised by the Dhaka Chamber of Commerce and Industry (DCCI) under its Women Entrepreneurs and Export Development (WEED) Standing Committee (SIC). The objectives of the programme was to provide first hand knowledge on PC and Internet to small and mid level women entrepreneurs so that by enhancing skill on communication they can reduce their cost of doing business.

The training programme was organised for those who do not have any knowledge on the computers and how they run their business more efficiently by utilizing benefits of computers.

The programme included all the basic applications and exercises of computers and covered basic internet, Excel and other related operations.

The inaugural ceremony of the programme was held at the Knowledge Centre of the DCCI.

Ms Safina Rahman, Coordinating Director of Women Entrepreneur and Product Diversification SIC inaugurated the programme.

In her inaugural speech, she said we should avail the opportunities of technologies to be competitive in the present business world where information flow is so quick and available, without using and access to computer one will remain far off from the global standard.

Omar Faruque, convenor of Standing committee was also present.

In total 12 participants attended the course. Ms Ferdaus Ara Begam, Additional secretary (R&P) DCCI was the moderator at the programme. Shamsuddin Azad, Deputy secretary (MIS) and Hasan Iqbal IT Officer of DCCI conducted the course.

Premier Bank holds 60th board meeting

The 60th meeting of the Board of Directors of the Premier Bank Limited was held on August 4 last at the bank's Head Office at Banani in the city.

BH Haroon, Vice Chairman of the Board of Directors of the Premier Bank Limited presided over the meeting.

Among other Directors, Abdus Salam Murshedy, Shaila Shelly Khan, Md Lutfur Rahman, Masud Jaman, Independent Director Abu Haniff Khan and Managing Director of the bank Khondker Fazle Rashid, observer from Bangladesh Bank Mohammad Abul Kashem and Company Secretary Syed Ahsan Habib were also present at the meeting.

The meeting reviewed some important issues and their implementation in due course.

Hi-Fashion Gallery opened at Dhanmondi

Fashion Gallery has imported ultra modern furniture for synthesis or your taste variety and aristocracy.

The show rooms are furnished with new aristocracy on the occasion of inauguration of the 2nd showroom of the organization at Dhanmondi after Gulshan.

In the meantime, sofa set, master bedroom set, boss table, office table, during table, children bedroom set, color vertical and vanishing blind of Hi-Fashion Gallery have attracted the sight or the customers. This aristocratic furniture have also turned round the taste of the aristocratic at a balance the mini driving car and electronic toys for the children.

For synthesis or taste and capability, the 2nd showroom of Hi-Fashion Gallarey was opened at Sha Sha House at Shat Mosjid Road, Dhanmondi on August 8. Executive Chairman of Board of Investment Md Kamal Uddin Ahmed opened the showroom. Deen Group Chairman and Managing Director of Hi-Fashion Gallery Ltd Gani Ahmed and other officials were present. Like Gulshan the Dhanmondi branch is also decorated with identical beauty.

IFC-BICF launches Regulatory Reform Core Group

BUSINESS REPORT

The IFC Bangladesh Investment Climate Fund (IFC BICF) is launching its Regulatory Reform Core Group at an event titled 'Stimulating Private Sector Development Reforms for Economic Empowerment of Bangladesh' at Sonargaon Hotel in the city today.

The two-day programme will be inaugurated by Syed Manzoor-e-Elahi, former Adviser to the Caretaker Government and Member, Regulatory Reform Commission. It will be attended by discussants belonging to various stakeholders.

The Regulatory Reform Core Group aims to expose mid-level officials from the government's private sector-related agencies, as well as private sector representatives, to an intensive, hands-on experiential learning focused on encouraging individuals to identify and implement regulatory reforms within their own agencies.

The first Private Sector Development (PSD) Core Group, formed in 2005, was similarly exposed to the best practices of a wide range of PSD issues. That programme was critical in breaking down the stereotypical ideas between agencies and the public and private sectors. Members of the Core Group include representatives from over 30 government agencies and 9 private sector chambers.

The driving mechanism of the Regulatory Reform Core Group program is the working groups that will assist in the implementation of the broad Regulatory Reform objectives of the Government of Bangladesh. To support and facilitate the work of the Regulatory Reforms, the Core Group members will focus on two areas: administrative barrier reviews (ABR) and regulatory impact assessments (RIA).

The Regulatory Reform Commission (RRC) is a 17-member body established by the Government of Bangladesh, and chaired by former adviser and cabinet secretary Dr. Akbar Ali Khan. The Commission's mandate is to recommend the elimination of redundant regulations, streamlining of existing regulations in consultation with government and private sector representatives, ex-civil servants, economists, as well as the recently established Bangladesh Better Business Forum [BBBF].

BBBF Infrastructure Working Group holds 10th meeting

10th Meeting of Working Group-2 on Infrastructure of Bangladesh Better Business Forum (BBBF) was held on August 5 at the conference room of the Planning Commission at Sher-e- Bangla Nagar in the city.

AMM Nasiruddin, member, Planning Commission and Co-Chairperson of the Infrastructure Working Group and Hossain Khaled, president, Dhaka Chamber of Commerce and Industry (DCCI), another Co-Chairperson of Infrastructure Working Group, BBBF were present in the meeting to interact with the members of the Working Group. Some experts, professionals, stakeholders and practical players in the infrastructure sector were invited to thrash out several issues related to transport, communications, telecommunication, ports, shipping, ICD and tourism and prepare a set of short, medium and long term recommendations for ultimate submission to the BBBF for consideration.

The meeting highlighted the needs for formulating an integrated Transport policy and emphasized for reorganization and modernization of concerned offices for strengthening their capacities and make the best of private-public-partnership projects (PPPP).

The meeting also discussed, revised and reviewed several recommendations on power and energy sector bearing in mind that infrastructure including communications, land, air, rail and road networks is one of the main backbones of the economy to flourish and attain required growth.

Mufti Abdur Rahman elected CSBIB chairman

The election of Central Shariah Board for Islamic Banks of Bangladesh (CSBIB) was held on July 22 at the Chairman's Office of Islami Bank Bangladesh Limited.In the election, Mufti Abdur Rahman was elected Chairman for a three-year term up to August 15, 2010. Islami Bank Chairman ANM Abduzzaher acted as the Chairman of Election Commission and Exim Bank Shariah Council Chairman Professor Maulana Muhammad Salahuddin and Dhaka Bank Shariah Council Chairman M Azizul Huq as commission members.

BRAC Bank empowers customers to rate service standard

BRAC Bank Limited has launched a new service quality drive in its branches recently. In this initiative, customers will be able to rate the service and the service provider at the touch-point instantly. This initiative, called "Moment of Truth" has been instituted in the Gulshan Branch. Gradually it will be rolled out to all branches of BRAC Bank Limited. This initiative is a part of the bank's continued efforts to provide superior customer service. S. N. Kairy, Director, BRAC Bank Limited inaugurated the ceremony. A. E. A. Muhaimen, Managing Director & CEO, BRAC Bank Limited, Abedur Rahman Sikder, Head of Marketing and Corporate Affairs, Firoz Ahmed Khan, Head of Retail Banking and other senior officials of BRAC Bank Limited were present in this event.