The New Nation - Internet Edition

Huge arms haul in city: 150 shells of Arges grenades, 2.5 tonnes of ammunition recovered, JMB leader held

RAB members arrested a JMB leader Md Hanif (inset)
and recovered huge grenade-making materials and militant
booklets from the city's Mirpur and Shanir Akhra areas
yesterday. FocusBangla

Staff Reporter

At least 150 empty shells of powerful Arges hand grenades and about 2.5 tonnes of ammunition were recovered after the arrest of a high-ranking leader of outlawed Jama'atul Mujahideen Bangladesh (JMB) by Rapid Action Battalion (RAB).

Along with the haul of explosives and huge quantity of militant booklets, the arrested Mahmmad Hanif alias Kalam, a top-ranking leader of JMB, was produced at a crowded press briefing at the RAB headquarters in the city's Uttara yesterday.

Additional Director General of RAB Col Gulzar Uddin Ahmed, the key person behind anti-militancy drive, told yesterday that a new Ameer, Saidur Rahman, was running the militant organisation JMB.

On information the RAB-10 and RAB-4 raided Mirpur and Shanir Akhra in the city and recovered the huge cache of arms, ammunition and militant booklets.

The JMB was trying to regroup armed with country made weapons and establish new dens in the city ahead of the national elections. However, the law enforcement agencies have widened their net and were determined to identify them and their like and wipe them out soon, Col Gulzar said.

We have observed that the objectives and statements of many of these organisations were identical to the JMB. Nevertheless, it was difficult to get tough on them since such activities were allowed in the country until they commit terrorist activities in the scale of the JMB, he added.

Following the March 2007 execution of JMB kingpins Abdur Rahman, Siddiqul Islam alias Bangla Bhai and four others, the government showed its firm stance to detect the outfit's political patrons and take stern action against them. Earlier on August 17 in 2005, the militant group came to the limelight by blasting near-simultaneous 459 bombs across the country.

The activities of the JMB stopped after the execution of their leaders, but the militants were trying again to establish them ahead of the polls.

Although the law-enforcement agencies have listed 29 Islamist organisations for suspected involvement in militancy, they have focused only on the banned JMB.

Some senior officials of the law-enforcement agencies involved in investigations into the rise of militancy and its patrons say the existing laws were not adequate to bring the patrons or masterminds to book.

A large number of political observers believe JMB was an armed front of one or more political parties having the same goal of turning the country into an Islamic state.

Sources say the task forces of National Coordination Committee to combat corruption and serious crimes also started an investigation into the patronage of militancy, which had stalled at one stage for reasons unknown.

Source said they had some hints that militants received financial aid from foreign countries or had an elaborate network, they failed to unearth it, as most of the transactions were made through hundi or in person.

The investigators have found out that some individuals and organisations from the Middle East had given financial support to JMB at different times, but failed to confirm the links between JMB and any one foreign country, sources said.

"Though there was some transactions through banks but due to inefficient and improper monitoring system it was not possible for us to prove that the money was transacted for militant activities," says a top official in a law-enforcement agency.

The summit in Washington

Hasnat Abdul Hye

A knight in white armour has appeared to rescue the damsel in distress, as in the legend. In the contemporary narrative the damsel is, of course, the global financial system and the white knight is the new-fangled G-20, group of 20 countries. The world has seen quite a few groupings of countries under the short hand 'G' in recent years and they seem to appear every time there is a global conference on some issues, demonstrating the alignment of countries according to their shared interests.

G-20 is unlike any of the groupings that preceded it. Participation in a conference or taking policy decisions as a group is not its raison detre. It has been hastily organised to address the great financial meltdown that has overtaken the world. It includes the powerful G-7, representing the rich developed countries and, in addition, has emerging and developing countries like China, India, Brazil, Mexico, Indonesia, Saudi Arabia, South Korea and others as members. President Bush has invited the heads of state and government in the first summit meeting of the group in Washington to exchange views on the financial turmoil that has almost upended the economies across the globe and now threatens to tumble into a global recession. The goal set for the G-20 has both short and medium terms. In the short term, the group wants to ensure the strengthening of the measures already taken by governments to bail out banks and financial institutions through a coordinated framework. For medium term, the G-20 will strive to reshape the international financial structure, giving emphasis on comprehensive regulation and regular supervision of the capital markets and application of a common set of principles for this purpose. Restructuring existing international financial organisations like the World Bank and the IMF or establishment of a new international body, as has been suggested by the French President, may also figure in the exercise in this phase. A consensus has already been reached that the recent financial crisis originating in America is a global problem, affecting almost all countries to the degree of their integration into the global economy. The crisis being global in nature and scope, its resolution requires co-ordinated intervention, it has been agreed. In order to make the co-ordinated measures truly global, representing all types of economies, the latest grouping (G-20) has taken emerging and developing countries on board. But the absence of Least Developed Countries (LDCs) which also stand to lose from the fallout of the crisis makes the new grouping incomplete. It should be made more broad-based by including a few countries from this category.

Even before the G-20 summit took place, the tenor and direction of the discussion and likely declarations were predictable. With the financial word still roiling, haemorrhaging banks and fuelling the bearish trend in the stock market, the immediate concern of all the affected countries is to expand and to fine-tune the stimulus package already put in place by most of them. The rescue packages have already been broadened to include buying of shares of vulnerable banks in addition to buying the toxic assets (mortgaged backed securities). Institutions in the real economy are also now clamouring for financial aid from the government and this may increase in number. A consensus on this is required to avoid a 'subsidy war' between America and the EU and between the developed and the developing countries in the near future. There has to be an agreement in principle about the type and extent of government intervention in different countries. Disagreement has already appeared within the developed countries about the role of the government in meeting economic crisis of the type currently in force. Even before the G-20 met in the summit, President Bush exhorted the world leaders not to impair the working of free market through adoption of protectionist policies. The European countries, particularly France, on the other hand, are in favour of a stronger role of government as a permanent feature and not just for crisis management. The strategy that they have in mind is not beholden to classical free market as understood by neo-liberals. President Sarkozy has bluntly observed that 'laissez-faire capitalism is over' Consensus on the controversial issues is not likely to be arrived at in the summit in view of the fact that President Bush's tenure will be over after two months. The President-elect Barack Obama has ideas on economic management, particularly in respect of free trade, that run counter to those of President Bush. In some respects, the trade policy favoured by the President-elect is more inclined to that of the EU. This, of course, is against the interest of the emerging and developing countries, not to speak of the LDCs. Reconciling the differences among the members of the G-20 on issues of trade will not be easy. But sharing the same concern for the global economy, the developed countries may now be more responsive to the needs of the developing countries.

In spite of the limited scope of the present G-20 summit it is important because it has on board both developed and developing countries for the first time to address the global crisis. Discussions on subsidy to industries will not only take into consideration the national needs but also those of other countries, as the members of G-20 struggle to reach a consensus. The financial stimulus already provided by the affected countries in the short term and its strengthening is likely to be more sensitive to is effect on the global economy because of the emphasis on co-ordination given by G-20. However, in a summit like the present, only agreements in principle can be reached, leaving the details to be worked out by committees. Already it has been indicated that a committee is expected to complete a plan of action by 31 March and the second summit may consider this by the end of April. This is pragmatic both because of the need to work out specific proposals, reconciling differences and to allow the new American Administration to reflect its views in the deliberation of the Group.

In the summit there may be discussion on reforms of the Bretton Wood institutions, the World Bank and the IMF. But for the present crisis these do not have crucial roles. None of these are in a position to coordinate the policies and actions of governments in the context of the present crisis. They are designed to address the need and problems faced by individual member countries, and not of a larger body. The committee on economic affairs of G-7 should now be expanded to take the responsibility of co-ordinating financial policies on a global scale. But to be representative it should have representation of the LDCs. G-20 is a timely initiative to bring countries together to meet a global crisis. This has to be sustained even after the present crisis is over. The lesson of the present crisis is that countries and the global system may be taken unawares if there is no vigilance. In the global context this can be ensured only if there is a permanent body.

AL to contest polls under 14-party banner: Ershad's presidency claim not yet resolved

Awami League President Sheikh Hasina presiding over
the 14-party meeting at her Dhanmondi office on Sunday. NN
photo

Staff Reporter

Awami League spokesman and Joint Secretary Syed Ashraful Islam yesterday said the party had finalised nomination for almost all the constituencies, which might be declared in a day or two after completing discussion with 14-party alliance partners.

He also called on all political parties to participate in the national elections for the sake of restoring democracy in the country.

Ashraful made this remark while briefing reporters after a meeting of 14 parties at the AL Dhanmondi office, which was presided over by AL chief Sheikh Hasina after 17 months.

"Since the inception of the 14-party alliance, we were promised to each other to conduct movement unitedly against the BNP-Jamaat government and to contest in the national polls unitedly. Following this commitment we will participate in the upcoming polls under the banner of 14-party alliance," he said.

He said, "Today we have discussed about the seat distribution for the national polls, state of emergency, spiral of price of daily essentials and other crucial issues."

"14-party has taken some decisions, which include holding of the national election on December 18 at any cost, complete lifting of state of emergency ahead of the national polls, and re-announcement of upazila poll schedule after the parliamentary polls" Ashraful Islam said.

He added that the alliance's stand is that the polls cannot be deferred under any circumstance.

He noted that the people of the country were eagerly waiting for the parliamentary election. AL wants to return people's power to them by establishing parliamentary government in the country through a free, fair and credible election.

He urged the government to defer the upazila election and to re-announce the upazila election schedule after national election.

Ashraful reiterated that the national election must be held on December 18 at any cost otherwise a disastrous situation would be created in the country and categorically demanded complete lifting of state of emergency ahead of the national polls.

Replying to a question wheather the 'Gono Forum' is in the alliance or not, he replied, "Gono Forum is still in the alliance. There are no doubts about GanoForum being a party; but confusions are there about a particular Gano Forum leader."

Asked how much seats AL would sacrifice for its partners, he disclosed nothing and said, "we will disclose this after finalising the issue by intra-alliance talks."

Asked how the nomination list would be published, through the press or issuing letter individually to the candidates, he replied that we will inform this in time.

To another question on Jatiya Party chief HM Ershad's claim that,according to an agreement with the Awami League, he will be the country's president if they win, Ashraful Islam said this matter would be made clear later on.

Rashed Khan Menon and Bimal Biswas of Workers Party of Bangladesh, Hasanul Huq Inu, Syed Jafar Sajjad and Shirin Akhter of Jatiya Samajtantrik Dal (JSD-Inu), Enamul Haque of National Awami Party, Abdus Samad of Gano Azadi League, Asit Baran Roy of Communist Kendro, Zakir Hossain of Ganotantrik Majdoor Party, Nurul Islam of Ganotontree Party, Dilip Barua of Sammyabadi Dal (ML) and Amir Hossain Amu, Abdur Razzak, Tofail Ahmed, Abdul Jalil, Suranjit Sen Gupta and Matia Chowdhury of Awami League were present at the two-and-a half-hour meeting.

Meanwhile the Ambassador of Switzerland Dr Dora Rapold yesterday met with Sheikh Hasina at her Sudha Sadan residence.

Differences at experts level: Dhaka-Yangon talks on maritime boundary bog down

Bilateral meeting between Bangladesh and Myanmar was
held at the Ministry of Foreign Affairs in the city on
Sunday on the critical issue of drawing maritime boundary in
the Bay of Bengal. FocusBangla

Staff Reporter

Methodology of the delimitation bogged down the experts level maritime boundary talks between Bangladesh and Myanmar, which began in the city yesterday.

The two sides came close to an armed confrontation in the Bay of Bengal over attempt of oil gas exploration by Myanmar. Bangladesh alleged that Myanmar was running exploration mission in her territorial waters while Myanmar claimed that it was within its boundary.

Talking to reporters after the first day's discussions at the technical level, Bangladesh delegation leader and Additional Foreign Secretary MAK Mahmood said Dhaka placed logic of the principle of equity (180 degree line) in delimitating the sea border while Yangon stressed equidistance (243 degree line) principle, " which is not acceptable to us".

He noted that application of equidistant line as a method of delimitation frustrates the very purpose of maritime delimitation, that is, equitable result.

Mahmood said according to UNCLOS (UN Convention on the Laws of the

Sea) 1982, no method should dictate the result; rather the result would justify the method. Since the outcome generated through the method of equidistance is obviously inequitable to Bangladesh, it is incumbent on both the states to examine other options and reach a mutually acceptable solution.

Officials said the Myanmar side, led by their Deputy Foreign Minister U Myint, was rigid on their arguments. The negotiations-taking place hot on the heels of a near-confrontation over oil exploration in the disputed part of the Bay waters--will continue till today for a negotiated solution.

The two neighbours held two technical-level rounds of talks in Dhaka and Bagan (Myanmar) in April and September this year.

In his opening remarks, Mahmood referred to the tense situation that prevailed in the Bay of Bengal in the first week of November, saying that the unfortunate development took place because of misunderstanding of the Myanmar authorities on a proposal made by Bangladesh in 1976.

He said that the proposal hinged on a package deal under which Myanmar was supposed to officially accept Bangladesh's baseline, particularly base-point 8, and the North-South direction of Bangladesh's natural prolongation.

Mahmood said this pre-UNCLOS proposal died its natural death since Myanmar never accepted it. Because this misunderstanding has resulted

in a heightened situation, he said, "we would like to clarify that our maritime zone as declared in 1974 along the 092 degree 17 minute 30 second line (commonly referred to as 180-degree line) is the line we are bound to follow until a final delimitation is attained between the two states on the basis of 'equity' principle".

He said the host side would like to categorically state that until a final agreement between the two states on maritime delimitation is signed, Myanmar should restrict its survey and exploratory activities to the East of 1800 line which was confirmed through exchange of various notes and communications from 2006 to date.

Saifur, Nizami, Mojaheed freed: SC upholds Moudud’s bail

Staff Reporter

BNP standing-committee member M Saifur Rahman, Jamaat Ameer Maulana Motiur Rahman Nizami, and Secretary General Ali Ahsan Mohammad Mujaheed were released yesterday from jail on bail in Baropukuria coalmine graft case.

Saifur Rahman, former finance minister was released from the prison cell of Bangabandhu Sheikh Mujib Medical University (BSMMU) at about 6:00pm while Jamaat leaders, Nizami and Mojaheed were freed from Dhaka Central Jail at about 5:05pm.

Hundreds of party supporters thronged in front of the hospital and jail gates and greeted their freed leaders with flowers.

Meanwhile, the Appellate Division of the Supreme Court yesterday upheld the High Court (HC) decision granting three months' ad interim bail to BNP standing committee member and former law

minister Barrister Moudud Ahmed in two separate cases.

After emerging from the prison cell, Saifur Rahman told reporters that under no circumstances it is possible for BNP to take part in the elections on December 18.

Jamaat-e-Islami Secretary General Ali Ahsan Mohammad Mojaheed said his party is ready for elections but decision in this regard would be taken after discussion at party and alliance level.

The three influential leaders of four-party alliance surrendered to a special court following High Court orders on November 10 and the judge ordered them into jail. Saifur Rahman was taken to the prison cell of BSMMU on health ground. The three former ministers secured bail from the High Court on November 12. The court had granted them a two-month anticipatory bail. It had halted proceedings in the trial court for the period and asked the government to explain in four weeks why the case would not be set aside.

Earlier the Anti-Corruption Commission (ACC) filed the case on February 26 this year accusing former prime Minister Khaleda Zia and nine of her former cabinet colleagues for causing a loss of Tk 159 crore to the state exchequer by awarding contract for operating the Barapukuria coal mine to a Chinese company abusing their power.

The principal accused, BNP chairperson Khaleda Zia, secured bail from the High Court in this and three other graft cases and came out of jail on September 11. The High Court also stayed further proceedings against her in this case.

In the meantime, the Appellate Division of the Supreme Court upheld the High Court (HC) decision granting three months' ad interim bail to BNP leader Barrister Moudud Ahmed in two separate cases.

After hearing the petitions before the full court, the Appellate Division headed by Chief Justice M M Ruhul Amin vacated the chamber judge's decision by upholding the High Court orders.

A two-member High Court bench on September 8 issued the order of bail after hearing separate writ petitions challenging the legality of the cases.

The High Court also stayed the trial proceedings of the cases for three months and asked the authorities concerned to show cause why the cases would not be declared illegal and without lawful authority.

Moudud was accused of dodging tax and depositing money in different banks through FDR using several fake names.

Later, the Chamber Judge of the Appellate Division on provisional leave petitions brought by the government stayed the High Court order.

Summit pledge to 'restore growth’

BBC Online

World leaders at the G20 financial summit in Washington have pledged to work together to restore global growth.

They said they were determined to work together to achieve "needed reforms" in the world's financial systems.

US President George W Bush said that finance ministers would now work on detailed reform proposals, and then report back.

Leaders of emerging economies said the summit marked a historic shift of power away from the richer countries.

Bush's successor in the White House, Barack Obama, said in a statement that he was ready to work "together on these challenges" with the G20 when he takes office in January.

"The president-elect believes that the G20 summitt is an important opportunity to seek a coordinated response to the global financial crisis," said a statement issued in his name.

The meeting brought together leading industrial powers, such as the US, Japan and Germany, and also emerging market countries such as China, India, Argentina, Brazil and others - representing 85% of the world economy.

For the leading emerging economies, the significance of this G20 summit was clear - they now have to be taken into consideration in the management of the global economy.

Brazil's President, Luiz Inacio Lula da Silva, said: "We are talking about the G20 because the G8 doesn't have any more reason to exist."

Key issues agreed by world leaders at this summit included:

Reform of international financial institutions such as the World Bank and the International Monetary Fund, An agreement by the end of 2008, Leading to a successful global free-trade deal, Improvements to financial market transparency and ensuring complete and accurate disclosure by firms of their financial conditions, making sure banks and financial institutions' Incentives "prevent excessive risk taking", Asking finance ministers to draw-up a list of financial institutions whose collapse would endanger the global economic system, strengthening countries' financial regulatory regimes, Taking a "fresh look" at rules that govern market manipulation and fraud. In his address at the end of the summit, Bush said there was no doubt that the financial crisis facing the United States and many other countries was a severe one.

Everyone is affected by this downfall. Budgets of households and big corporations are equally affected.

He said it had even been conceivable that the US "could go into a depression greater than the Great Depression".

"We are adapting our financial systems to the realities of the 21st century," he said.

Speaking after the summit, UK Prime Minister Gordon Brown said the group had reached important conclusions "about trade, about financial stability and about the expansion of our economies".

Russian President Dmitry Medvedev said the global financial structures created at the end of WWII were now inadequate.

"It will be necessary to rebuild the whole international financial architecture, make it open and fair, effective and legitimate".

The stalled Doha round of global trade talks should be pushed forward so that a basic agreement can be reached before President Bush leaves office in January, said German Chancellor Angela Merkel.

"If there is the political will, it would be good if we could reach an agreement in the Doha round with the present US administration."

In their joint closing statement, leaders said the reforms would only be successful, if they were "grounded in a commitment to free market principles".

G20 leaders say they will meet again by 30 April, 2009, to review progress.

The next summit looks set to be held in London, with US President-elect Obama attending.

Although no formal decision has been announced, France's President, Nicholas Sarkozy, made it clear that he expects London to be chosen as the venue.

The G20 group of countries consists of 19 leading industrialised and developing countries, as well as the European Union.

Describing as a "plain-vanilla stuff" the outcome of the G-20 summit on the financial crisis, analysts have said it left substantive issues to future meetings and was unable to bridge the ideological gap and articulate a coordinated global response.

For all the talk of action and history-making change, some experts said the outcome was disappointing. "This is plain-vanilla stuff they could have agreed on without holding a meeting," Simon Johnson, an economist at the Massachusetts Institute of Technology (MIT) and a former chief economist of the IMF said. "What's new, except that this is the G-20 instead of the G-7?"

The influential financial daily, the 'Wall Street Journal' said, the group left most tough decisions to President-elect Barack Obama who will have to confront a tangle of high-stake economic and regulatory issues immediately after taking office.

"Many of the issues discussed this weekend - including credit rating agency reform, accounting standards convergence, and affirmation of open trade and investment - were issues already being studied," Tim Ryan, President of the Securities Industry and Financial Markets Association, told the Journal. "We hope this summit will provide additional political will to move these important issues forward."

The group vowed to help developing countries get access to financing, including ensuring the International Monetary Fund and other multilateral development banks have sufficient funding. And it said the poorest countries should have a greater voice at the World Bank and IMF.

But an economist at California State University Sung Won Sohn told the Journal, "the devil is in details. Despite the good intentions, progress will be arduous and slow. Each nation has its own agenda complicating matters."

CG will cease to function if Dec 18 polls not held: RRC chairman says

Staff Reporter

Regulatory Commission Chairman Dr Akbar Ali Khan yesterday said there is no provision in the constitution to shift the national election declared by the caretaker government to be held on December 18.

"If the election is not held within the scheduled date, the activities of the caretaker government will lose legal and ethical ground," he told the reporters while coming out from the concluding day programme of the two-day long South Asia Regional Conference on 'Managing Food Price Inflation' at Radisson Water Garden Hotel in the city.

The Power and Participation Research Centre (PPRC) and the World Bank (WB) jointly organised the conference.

Akbar Ali, a former adviser to the caretaker government, said that BNP must participate in the national election in its own interest. " Political parties will not only harm themselves but also the nation if they refrain from participating in the upcoming election," he noted.

"By taking part in the election BNP will be able to pinpoint where and how it was held unfairly," he mentioned.

Replying to a question, he said the Government is yet to clarify its stance in clear terms on the date of the parliamentary election.

The Government must clarify its position within 24 hours to 48 hours if the Jatiya Sangsad election will be held on December 18, he said. To another question on how the election will be free, fair and credible without participation of BNP, he said that if the majority voters cast their votes, it will be considered a free and fair election. "In that event none will question who has participated in the election and who has not."

Asked about the prolonged emergency rule in the country, he said, "Our constitution doesn't allow the long-term emergency rule in the country."

"If BNP and Awami League jointly call for withdrawal of the emergency rule, the caretaker government will lift it fully before the election," he further said.

On food security issue, the Regulatory Commission Chairman said that foodgrains production must have to be increased for reducing the prices essential commodities.

"We have invested little in the agriculture sector in last two decades. Besides, the subsidy provided to the sector was also poor," he said.

Commerce and Education Adviser Dr Hossain Zillur Rahman said that the government is trying its best to create a congenial atmosphere to hold the national election in a free, fair and credible manner.

Replying to a question about the holding of the election according to timeframe, he said that the national election will be held on the schedule date.

He called upon the political parties to play responsible role for holding the forth-coming election according to schedule.

On the sudden price hike of the essential commodities, the commerce adviser said that the businessmen should play responsible role to ease sufferings of the people.

Several papers on 'Medium and Long-Term Agricultural Supply Response,' 'Poverty Impact,' 'Safety Net Issues and Food Security in South Asia: the Way Forward' were presented by Michal Rutkowski, Tara Vishwanath, Mansura Rashid of World Bank. Bangladesh Bank Dr Salehuddin Ahmed, Dr Syed M Hashemi, Dr Mahabub Hossain, Dr Asaduzzaman, addressed, among others, in the conference.

AL opposes 24 poll monitoring teams

Staff Reporter

Awami League and BNP have lodged objection to the Election Commission (EC) against registration of 24 election observer organisations, as the Commission issued public notification after primary selection of 138 organisations on Friday.

AL has objection against 20 organisations, while BNP has objection against 4 organisation.

The organisations the AL objected are: BCDJC of Naimul Islam Khan, Democracy Watch of Taleya Rahman, FEMA of Feroze M Hasan, Khan Foundation of former BNP minister Moyeen Khan, Jagoroni Chakra in Jessore, Light House in Bogra, NRDS in Noakhali, Sariatpur Development Society, National Youth Forum at Pallabi in Dhaka,

Jugayan Samajik Unnayan Sangstha in Tangail, Srijoni in Jhenidaha, Bangladesh Manobadhikar Commission at Malibag in Dhaka, AMUAB, Hilful Fujul, Unity for Social Advancement in Mymensingh, Brave at Dhanmondi, Coast Trust, Development Organisation for the Rural Poor at Mirpur, Nari Uddog Kendra at Mohammadpur and ANFRIL.

The organisations with BNP's objection are: Broti of Sharmin Murshid, IED, Bangladesh Manabodhikar Samonnya Parishad, and Coast Trust.

BNP Joint Secretary General Nazrul Islam Khan called on EC Secretary Huamyun Kabir yesterday to put the objections on behalf of his party while an AL delegation led by MN Huda lodged their objections.

TAC resumes activities

UNB, Dhaka

The Truth and Accountability Commission that ceased to exist following High Court interdiction was Sunday resurrected with Supreme Court order of stay for a month on the operation of the HC ruling.

Supreme Court's chamber judge passed the interim order upon a petition moved by the government as it prefers leave to appeal against the High Court judgment that had left the clemency body dysfunctional since Thursday.

On November 13, the TAC, constituted to show mercy to penitent corrupt persons under the current purge, lost its existence as the High Court declared illegal and ultra vires of the Constitution the Voluntary Disclosure of Information Ordinance on which the TAC was founded in the current interim period.

A division bench comprising Justice Mir Hasmat Ali and Justice Shamim Hasnain had delivered the judgment upon a Public Interest Litigation (PIL) writ petition filed by four rights activists challenging the validity of the much-talked-about Ordinance and its Commission.

Attorney-General Salahuddin Ahmed along with Special Counsel for the Anti-Corruption Commission Anisul Huq moved the petition.

WB aid beyond '08 uncertain: Country not ready with project proposals

UNB, Dhaka

Finance Adviser Dr Mirza Azizul Islam said Sunday that the inflow of World Bank assistance beyond 2008-09 has become uncertain as the country is not prepared with project proposals for seeking fund support.

"The World Bank assured that there'll be no problem in financing the approved projects and those awaiting approval this fiscal year," he told reporters after a meeting with a World Bank team at the Planning Ministry.

"What is going to happen after this fiscal year is an uncertainty," the Finance Adviser said, adding that it could be taken care of later.

The 4-member World Bank team led by John Roome, the Bank's operations director for South Asia, met the Adviser to discuss the issues Bangladesh has been facing in the financial sector and identify possible areas of support the country needs.

During the discussion, the team appreciated the country's economic performance as well as its efforts in reducing poverty over the last 10-15 years. "The country achieved a quite remarkable degree of economic consistency in spite of political differences," Roome told reporters after the meeting.

Asked about the World Bank's plan about enhanced assistance programme to Bangladesh, he said: "It's not immediately clear when and where Bangladesh needs support."

World Bank President Robert B Zoellick recently announced that the Bretton Woods institution would significantly enhance their programme in developing countries in next three years in view of the global economic crisis.

The Finance Adviser said the uncertainty that has been created in the domestic front as the World Bank could not work out their future programme in Bangladesh due to non-submission of project portfolios.

He, however, informed that the Economic Relations Division (ERD) is already working on the project portfolios and also invited the project concept papers from different ministries.

Replying to a question, Dr Aziz said the government is working on the project portfolios at a pace so these could be submitted to the World Bank before the political transition.

In the external front, the uncertainty would depend on how the global recession prolongs and affects the World Bank's IDA (International Development Association). "There is no visible impact of the recession on the IDA so far," he said.

The Finance Adviser said the country is expected to get highest ever IDA commitment of US$ 1.34 billion during the current fiscal year.

Of this, commitments for US$ 800 million have already been finalized while US$ 150 million would be finalized by December and the rest during the January-June period.

Dr Aziz said the World Bank team gave an indication that there is a possibility to increase funding for the Padma Bridge by US$ 300 million in the second phase of construction.

They are also interested in funding the Eastern Bypass project and holding discussions in this regard with the Ministry of Communications, he said.

He added that the World Bank team has stressed the need for further activating the authority charged with the Dhaka strategic transportation programme. "They are looking at the project."

About uncertainty over the holding of general election, the Finance Adviser said he was still hopeful of a smooth political transition.

Asked what would be the economic consequences if election is not held on December 18, he said: "The future will tell us."

He, however, said political instability is one side of the economic development while law and order situation is other side. If the law and order situation remains normal, the private sector would continue with their momentum, while exports, agriculture production and inflow of remittance would remain unaffected.

"The economy will continue to grow unless the law and order situation deteriorates due to political instability," said the Finance Adviser.