The New Nation - Internet Edition

Tarique’s release matter of time: Granted bail in all cases but one

Staff Reporter

The release of BNP Senior Joint Secretary General Tarique Rahman now depends on only one court order on Bashundhara bribery suit to save the accused in Sabbir murder case as he yesterday secured bail in five cases, including three extortion cases yesterday.

The High Court Bench comprising Justice Sharif Uddin Chakladar and Justice Imdadul Haque Azad yesterday granted him bail for six months in the five extortion cases.

The bench also stayed the proceedings of the cases and issued separate rules upon the Anti-Corruption Commission to explain why Tarique Rahman should not be granted regular bail. With the latest bail orders, Tarique Rahman, who was arrested on March 7 last year by the army-led joint forces from her mother's Dhaka Cantonment residence, received bail in a total of 12 criminal cases, including corruption and extortion, as things on the judicial front of the current purge kept developing fast.

According to sources, if Tarique is granted bail in the Bashundhara bribery case, which is likely to be heard today, it will be the last bar to be lifted for Tarique to move out to freedom.

Meanwhile, Adviser for Home Affairs Maj Gen (Retd) MA Matin yesterday told reporters that there is no legal bar to send Tarique Rahman, also the elder son of detained former Prime Minister Begum Khaleda Zia, abroad for treatment. He also indicated that it might be a matter of moments now.

According to Tarique's lawyers, a total of 13 cases were filed against him after the 1/11 changeover. Of these, a case has been settled by the court so far. He has got bail in 11 others.

Barrister Mahbub Uddin Khokan, a lawyer for Tarique, told reporters that time is marking for his client's release from jail. "Only one bail order is required for his release from jail," he said.

The Home Affairs Adviser told reporters that the process of releasing Tarique Rahman for his better treatment abroad has advanced. "The process for the release of Tarique Rahman has made progress, but it is not possible to say in detail about the moment," he said.

Barrister Khokan said a leave-to-appeal petition seeking the bail of Tarique Rahman in a Tk 21-crore bribery case over the murder of a Bashundhara director is pending with the Appellate Division of the Supreme Court. Tarique Rahman is sick and being treated at Bangabandhu Sheikh Mujib Medical University (BSMMU) medical hospital prison cell.

BNP announces fresh programme

BNP Secretary General Khandker Delwar Hossain
expressing his anger to the newsmen in front of the National
Press Club as the police foiled the 4-party human chain
programme. Banglar Chokh

Staff Reporter

The BNP-led four-party alliance formed human-chains defying a police ban and braving heavy rains in Dhaka city and elsewhere in the country yesterday afternoon.

Police used batons to disperse the alliance's leaders and activists and snatched banners at different places, when they tried to form human chain on the streets demanding BNP chairperson Khaleda Zia's unconditional release and overseas treatment for her elder son Tarique Rahman.

But no major untoward incident was reported. but no major untoward incident was reported but no major untoward incident was reported but no major untoward incident was reported but no major untoward incident was reported

Hundreds of the alliance leaders and activists led by BNP secretary general Khandaker Delwar Hossain, Jamaat-e-Islami secretary general Ali Ahsan Mohammad Mojaheed and Islami Oikyajote secretary general Abdul Latif Nezami formed the human chain in front of the National Press Club in the capital around 5:30pm after failing take their programme on to the streets in the face of heavy police's barricade.

Protesting the police interference, Delwar announced protest meeting on September 2.

Delwar condemned the police action on their "peaceful" human-chain

programme and said the political process cannot be halted with police

restriction Delwar condemned the police action on their "peaceful" human-chain

programme and said the political process cannot be halted with police restriction. He condemned the police action on their "peaceful" human chain programme saying that the political process cannot be halted with police restrictions.

Khandker Delwar warned that the alliance would make resistance whenever the government obstructed their programmes in the future.

He said, "The government is showing step motherly attitude towards the BNP unnecessarily by obstructing our peaceful programmes."

Delwar alleged that the caretaker government is pushing the country towards chaos by using the police against their political activities.

"The caretaker government is trying to hang on to power by using the state of emergency," he further said.

He said the 4-party alliance would carry forward its non-stop programmes until Khaleda Zia and Tarique Rahman's are released. He asked the government to meet their demands immediately.

Delwar demanded of the caretaker government to create environment of dialogue and election by releasing Begum Khaleda Zia and managing Tarique Rahman proper medical treatment abroad.

He said if the government really means dialogue and election, Khaleda Zia must be released and Tarique sent abroad for treatment.

Protesting the police obstructions, BNP secretary general Khandaker

Delwar Hossain announced protest meeting for September 2. Protesting the police obstructions, BNP secretary general Khandaker

Delwar Hossain announced protest meeting for September 2. Protesting the police obstructions, BNP secretary general Khandaker

Delwar Hossain announced protest meeting for September 2

Meanwhile, Leaders and activists also formed another human chain before Sonali Bank Motijheel office, led by BNP leaders Tanvir Ahmed Siddiqui and Nazrul Islam Khan. But heavy rainfall compelled them to leave.

Some 40 BNP activists later took out a protest procession in Motijheel commercial area before being obstructed by police. The protesters smashed at least 15 vehicles including one of private TV station Channel i.

Kalyanpur police dispersed four-party alliance members as they formed a human chain led by former BNP lawmaker Sohrab Hossain.

BNP's student wing Jatiyatabadi Chhatra Dal (JCD) also joined the programme.

Over 1,500 JCD activists from various educational institutions of the city marched towards the Institution of Engineers, Bangladesh, through Sahrawardy Udyan. But their programme also faced police intervention as they reached the gate.

Later the JCD adherents gathered in front of Raju sculpture chanting slogans.

Earlier, top leaders of the alliance in a meeting at Delwar's residence yesterday morning had decided that they would observe human chain programme peacefully, despite a ban imposed by police late Tuesday night.

Delwar said, "The government is treating us unfairly by issuing the press note for no good reason."

Meanwhile, the alliance district level leaders and activist formed human chain programme outside Dhaka in front of the party offices or other home grounds after failing to take programme on to streets due the police impediment. But the activists clashed with law-enforcers in different districts including Khulna and Kishoreganj.

Police had earlier stopped the party's Aug 21 programme of marching towards the Chief Adviser's Office to submit a memorandum incorporating the same demands.

Salman Rahman freed on bail

Salman F Rahman

UNB, Gazipur

Detained industrialist Salman F Rahman walked out of Kashimpur jail on bail yesterday noon.

Jail sources said Salman Rahman, also an Awami League leader, was released from the prison at about 12:20pm. He was arrested on February 4, 2007 under the ongoing purge by the interim government against crime and corruption.

Bangladesh Bank move to speed up transaction: Mobile phone banking to expedite money transfer

Bangladesh Bank Governor Dr Salehuddin Ahmed was
present as the chief guest at the SAARC FINANCE seminar on
Corporate Governance in Banks and Financial Institutions at
a city hotel yesterday. Focus Bangla

Staff Reporter

Bangladesh Bank, with a set of regulations, is going to formalise mobile phone banking in the country to speed up money transfer by expatriates.

The central bank already has drafted a guideline to this effect and has asked banks to submit their written opinions on it in two weeks.

"We have invited the banks for their views on a draft guideline within two weeks," Governor Dr Salehuddin Ahmed told reporters, replying to a question on the sideline of a seminar on corporate governance at Hotel Purbani in the city yesterday.

Bangladesh Bank in cooperation with Bangladesh Enterprise Institute (BEI) organised the daylong SAARCFINANCE seminar on "Corporate Governance in Banks and Financial Institutions".

SAARCFINANCE is a network of SAARC central bank governors and finance secretaries to share experiences on macro-economic policy issues among member countries of the region.

The Governor said the central bank invited inputs from the commercial banks on Tuesday at a meeting with the chief executive officers of the commercial banks on mobile payment system.

Replying to another question, Dr Salehuddin said the possibilities of money laundering taking advantage of the mobile banking would be considered while finalising the guideline in this regard.

"An airtight legal framework would be put in place so that the hard-earned money of overseas workers was not lost through the process in any way," the Governor added.

In the novel banking system, the branches or exchange houses of the banks in different countries would inform a local bank or exchange house of the amount being sent by an expatriate worker.

The bank or exchange house concerned will inform the recipient of the remittance through an SMS, and will request the recipient to collect the money from a mobile phone outlets working as payment centres.

This will help increase expatriates' remittances in the formal channel, BB officials expect.

However, the Governor in the seminar expressed frustration that the commercial banks and non-bank financial institutions (NBFIs) have no written code for corporate governance.

He was also worried in this regard as the banks and NBFIs would have to achieve a new global standard of corporate governance under Basel II within a stipulated time frame.

"Unless you (banks and NBFIs) have a guideline, it's difficult to practice corporate governance," the BB Governor said.

BEI director Lopa Rahman presented the findings of a study on corporate governance issues in the banks and NBFIs of Bangladesh. Senior executives of the central banks, commercial banks and financial institutions from the member countries took part at the seminar.

Dr Salehuddin called upon the commercial banks and financial institutions to have "some kind of corporate governance guidelines to protect the interests of the stakeholders."

He criticised that few banks were funding some social causes in the name of carrying out corporate social responsibility (CSR). But CSR, he said, means funding the poor people and able entrepreneurs to help them gain economic benefits.

According to the BEI study, 15 per cent of the banks and 22 per cent of the NBFIs have said they have written corporate governance (CG) code, but such code was available with only 5 per cent of the banks and 22 per cent NBFIs.

Most of the banks and NBFIs responded to the study that the CG was not applicable for them. The BEI study also showed that only 10 per cent of the banks and one-third of the NBFIs have designated CG persons.

Pakistan restores eight judges

Agency, Islamabad

Eight of the judges sacked last November by former Pakistani President Pervez Musharraf have been reinstated.

They took their oaths at the governor's house in Karachi. Reports say seven or eight more may be sworn in next week.

Musharraf sacked some 60 judges, including Chief Justice Iftikhar Chaudhry, but some were restored later.

Former Prime Minister Nawaz Sharif pulled out of the ruling coalition on Monday amid a dispute about how to restore the judges.

Sharif's PML-N party wants all the sacked judges to be reinstated in one go, through an executive order that declares their sacking illegal.

The BBC's M Ilyas Khan in Karachi says the party's views are also supported by a lawyers' movement that is campaigning for the restoration of the judiciary as it existed on 2 November 2007 - one day before Mr Musharraf introduced emergency rule and sacked the judges.

The leader of the ruling Pakistan People's Party (PPP), Asif Zardari - the husband of assassinated former Prime Minister Benazir Bhutto - has promised to restore the judges but under a fresh oath.

Zardari has said the top judge will ultimately get his job back too, but few analysts believe this, reports the BBC's Barbara Plett in Islamabad. They say the government sees him as too willing to challenge the establishment, and too close to the politics of the Muslim League.

Analysts say the reinstatement of judges by the PPP is likely to weaken the lawyers' movement and raise questions over PML-N's decision to quit the alliance.

Huge credit expansion worsens inflation

Pulack Ghatack

The country is witnessing a huge monetary expansion with ballooning credits both in public and private sectors that lead rate of annual inflation to soar above double digits.

People may be feeling the immediate pinch of higher inflation at markets, but long-term prospect of economic growth is not bleak, officials of the Bangladesh Bank (BB) said.

According to the latest figures provided by the central bank, net credit to the public sector increased to about Tk 47,000 crore at the end of June this year from Tk 36,000 crore at the end of June last year.

The government in this years fiscal budget has set a target to borrow Tk 13,498 crore from the banking system-an 86 per cent jump from the last fiscal year's bank borrowing. In the 2007-08 fiscal budget, bank borrowing target was Tk 7,253 crore, which was later revised at Tk 10,398 crore.

However, the increased borrowing by the government is not crowding out the private sector from credit facilities as the central bank has been pursuing an expansionary monetary policy.

Private sector credit increased 25 per cent during the last fiscal year compared to a 15 per cent growth in 2006-07. Total domestic credit registered a faster growth at 21 per cent in 2007-08, compared with about 15 per cent in the previous fiscal.

But, remarkably, the increased credit flow to the private sector is not going for long-term productive investment substantially, as import payments for oil, rice and some other consumer goods are eating up the bulk share, bank sources said.

The long-term industrial credit was not dissatisfactory in the last fiscal year also. But, very recently the figure is not so encouraging, though the prospect of industrial growth is not bad as the central bank has the policy to encourage credit growth, a BB official told The New Nation.

He said imports increased heavily this time to recover the losses by natural disasters and price hike of oil and commodities in the global market.

Bangladesh's overall imports grew by 27.56 per cent with heavy food grains import in fiscal 2007-08 over that of the previous fiscal.

Meanwhile, annual consumer price inflation rose to 10.04 per cent in June from 9.99 per cent in May due to soaring food prices.

Inflation was driven by a 14.1 per cent rise in food prices, while prices of non-food items rose 3.54 per cent from a year earlier, official at the Bangladesh Bureau of Statistics (BBS) said.

The 12-month average inflation rate in June stood at 9.93 per cent, above the target of 8.5 per cent for the 2007-08 financial year. In May, it was 7.44 per cent.

BB on July 17 unveiled its half-yearly monetary policy aiming to achieve maximum economic growth through credit expansion to productive sectors during the current fiscal while keeping inflationary pressures under control.

The central bank recently decided to monitor the quality of loans extended by commercial banks to ensure that the productive sectors are financed properly to achieve maximum economic growth in line with the monetary policy.

The industrial credit disbursement recorded a hefty 66 per cent growth last fiscal year (2007-08) over that of 2006-07 fiscal year.

According to the provisional statistics of the central bank, disbursement of industrial term loans in the country stood at Tk 20,610 crore in 2007-08 fiscal year, while a total of Tk 12,381 crore was disbursed as industrial term loan in 2006-07 fiscal year.

Pvt Sector Housing Ordn to bring doom to industry

Talha Bin Habib

The interest of the buyers and landlords would not be protected, if the proposed ordinance regulating private sector housing business comes into effect, said worried real estate businessmen.

They said the proposed new law might create obstacle to the growth of the fast growing real estate industry, they added.

They called upon the Government to review the draft of the 'Private Sector Housing Ordinance' for the interest of the buyers and landlords.

Terming the new law not time befitting, they said, these new rules could not protect the interest of the buyers and would fail to bring any discipline in the private real estate sector.

The proposed ordinance would create scope for corruption, as it would control the developers rather than regulate them.

It needs fine-tuning to make it a time befitting law, they opined.

They urged the Government to set up an arbitration tribunal to address the complaints of the customers in the real estate and housing sector.

They called upon the Government to review the ordinance, as they think this law would neither protect the interest of the buyers nor bring discipline in the property business.

Talking to the New Nation Engineer Tanveerul Haque Probal, President, Real Estate and Housing Association of Bangladesh (REHAB) said the Government should review the ordinance for the betterment of housing sector's interest.

" If the Government really wants a vibrant but disciplined real estate sector, they should move to adopt a time befitting law through discussion with the stakeholders," he said.

He proposed for the formation of an arbitration tribunal for complaint settlement as the ordinance focuses on removing alleged irregularities as complained by many an apartment buyer and landowners.

He also said that a sharp rise in the prices of land and construction materials might hinder the growth of the housing sector.

The Council of Advisers of the Caretaker Government has recently approved an ordinance that provides non bailable imprisonment to the property developers on different grounds.

Housing in the capital city is in a mess as there is no planning to be followed in this important sphere of civic life.

"The Government should decentralise urbanisation and provide infrastructure so that there could be satellite townships at district level to reduce urbanisation pressure on the capital city," said a high official of the National Housing Authority.

It is estimated that nearly 20 lakh labours and 5 thousand engineers and architectures are engaged in the real estate sector. And this sector is contributing 15 per cent to the GDP.

Call to ensure balanced development

Staff Reporter

Political leaders, academics and representatives of non-government organisations at a discussion yesterday urged the government to formulate 'National Democratic Decentralisation Policy' within the framework of the constitution and engage all the stakeholders for ensuring a balanced development of the country.

They said that even after the 37 years of independence the nation has yet to witness a specific decentralisation policy.

They were of the opinion that the absolute power centralisations in all spheres of the sate affairs were hindering the development process.

Their observation came at the discussion on 'Campaign for Democratic Decentralisation' organised by Governance Advocacy Forum (GAF) at the CIRDAP auditorium.

Mohsin Ali, coordinator, GAF presented the keynote paper while Prof Salahuddin M Aminuzzaman, department of Public Administration of Dhaka University moderated the discussion.

It was also attended, among others, by former minister and AL presidium member Begum Matia Chowdhury and Mahmudur Rahman Manna, organising secretary of Awami League, Gayeshwar Chandra Roy, joint general secretary of BNP, Dr Atiur Rahman, Hasanul Huq Inu, president of Jatiya Samajtantrik Dal (JSD), Mujahidil Islam Selim, general secretary of Communist Party of Bangladesh (CPB), Ziauddin Ahmed Bablu, presidium member of Jatiya Party, Prof Akhter Hossain, Sardar M Asaduzzaman, programme office of DANIDA and Shila Tasnim, senior programme officer of Asia Foundation.

Begum Matia Chowdhury said decentralisation is the prerequisite of democracy. All the problems related to politics, economic and administrative should be resolved through democratic way.

Dr Atiur Rahman said the local development would be possible if the government allocated a portion of its budget to the local governments.

The demands that were made from the discussion include to govern the central and local bodies by the elected representatives, hand over some power and responsibilities to the local government, ensure one third women participation at all governing bodies and clear declaration from political parties to implement decentralisation.

Transparency while receiving foreign aid stressed

Staff Reporter

Speakers at a press conference called for maintaining transparency and accountability while receiving foreign aid in the greater interest of the country.

Speakers at a press conference yesterday said the government should receive such foreign aid, can protect the right of the country.

They were speaking at a press conference on 'Effective Foreign Aid' jointly organised by Voice and Aid Accountability Group, two local NGOS at the Dhaka Reporters Unity auditorium yesterday.

Ahmed Swapan Mahmud, Executive Director of Voice, read out a statement at the press conference.

In a written statement, Swapan Mahmud, said the World Bank and IMF provided loan to the developing countries with so many strings attached to them.

These conditionalities deprived the recipient countries of their fundamental rights, he observed.

He further said that fulfilment of the donors' irrational conditions only deepened poverty in the recipient countries.

He alleged that the World Bank, IMF and Asian Development Bank interfere in the state policy of the aid receiving countries. These agencies

are more interested in providing loan instead of aid for earning hefty interests on loan. Of the total support during the last three decades to Bangladesh, loan constitutes 52 per cent and aid 48 per cent, he informed.

The government has increased fuel price as well as privatised the public service oriented organisations following the direction of foreign aid giving agencies, the Voice executive director said.

Dr Pias Karim said our country could achieve self-reliance without taking loans as nearly 70 per cent of the total loans is spent in meeting consultancy fees and interest on them.

Different human right groups will chalk out a two-day programme from August 31 prior to two-day ministerial level meeting of aid giving countries and agencies on 'Effectiveness of Foreign Aid' at Accra in Ghana.

Stalemate persists over JUTA polls

Al-Amin

Suspicion has grown over holding the election of Jahangirnagar University Teachers Association (JUTA) on September 07 in the face of protest from some Pro-Awami League teachers.

It is learnt that JUTA took decision to hold its election on September 7 at its general meeting held recently as per demand of the teachers.

JUTA also formed a one member-election commission with Prof Mirza Mafizul Islam of Geography and Environmental Science Department to hold the JUTA election freely and fairly.

But some Pro-Awami League teachers protested the election schedule arguing that no fair and free election would be possible under the state of emergency.

A statement signed by 42 Pro-Awami teachers, urged the authorities to postpone the election schedule.

However, Professor Shamsul Alam Selim, General Secretary of Somomana Teachers Forum opposed the statement saying that suspension of the election schedule would be an anti-democratic process.

"They want to disrupt election process, fearing their ultimate defeat in the election," Prof Selim said.

Referring to recent elections in the public universities like Dhaka University's dean election, Prof Selim posed the question what's problem holding the JUTA election.

JUTA Election commissioner Prof Mirza Mofizul Islam said, "we will try our best to hold the election in due time if the government doesn't impose ban on it."

The JUTA election was held in early 2006 during the tenure of the BNP-Jammat Government.

DU Dean election White censures Blue statement

DU Correspondent

Teachers belonging to the White panel-backed by BNP-Jamaat, in a statement yesterday, censured the contention of the Blue panel teachers-backed by Awami League and left leaning organisations that the result of the recently held Dhaka University Dean election was predisposed.

The allegation of the Blue panel teachers that the

university authority had influenced the Dean election is a baseless claim, said the teachers of White panel adding that five among the elected deans were elected several times from the same panel before.

The Blue panel teachers brought the allegation at a press conference on August 25 after their defeat in the Dean election.

This year, the white panel candidates won in eight faculties, while the Blue panel bagged two.

The White panel teachers think the allegation shows an utter disrespect to the general teachers` verdict.

The teachers also raised a question how a teacher from the Blue panel won in the election if the authority had influenced the result.

Convener of White panel Prof Sadrul Amin, also newly elected Dean of Arts Faculty, Prof Sirajul Islam and Prof Aminur Rahman Majumder signed the statement.