The New Nation - Internet Edition

Jalalabad Gas earns Tk 309.27cr revenue

Nation Business Report

The 22nd annual general meeting for the financial year 2007-2008 of Jalalabad Gas Transmission and Distribution System Limited, Sylhet was held on November 23 last at a hotel in the city. It was presided over by the Chairman of the Board of Directors of the company Md Ataur Rahman, joint secretary, Energy & Mineral Resources Division. The audited accounts of the company was also approved in the meeting.

The shareholders and the directors present in the meeting were informed that the company earned a total revenue of Tk 309.27 crore, which includes sales revenue of Tk 294.53 crore and other income of Tk 14.74 crore. The company earned a pre-tax profit of Tk 31.43 crore, which is 5.75 percent higher than the preceding year. During the financial year 2007-2008, the company contributed Tk 30.11 crore to the government exchequer in the form of DSL, dividend, income tax and import duty.

The meeting was also informed that the company laid nearly 140 km gas pipeline of different dia during the year under review. The shareholders, directors and other senior officials of the company were also present at the meeting.

Kushtia-Azmatpur pipe water supply system under Japanese technical assistance opened

Masayuki Inoue, Ambassador of Japan to Bangladesh, formally inaugurated Kushtia-Azmatpur Pipeline Water Supply System under Dhuliani Union of Chowgacha Upazilla, Jessore on November 26 last.

Adviser for Local Government, Rural Development and Cooperatives Md Anwarul Iqbal attended the ceremony as the chief guest.

Since December, 2005 Japan has been providing assistance under the Sustainable Arsenic Mitigation under Integrated Local Government System in Jessore. The project is aimed at arsenic mitigation through providing Pipe Water Supply System, which enables the Government of Bangladesh to supply safe water to the people of Jessore area. This project was made possible with the cooperation of the Department of Public Health Engineering under the Local Government Division of the Ministry of Local Government, Rural Development and Cooperatives with the Technical Assistance of Japan International Cooperation Agency (JICA).

In his speech, Mr Masayuki Inoue expressed his satisfaction for successful completion of the project.

He reiterated Japan's commitment to continuously support for the self-help initiatives of the Government of Bangladesh in implementing national policy for arsenic mitigation and thereby contributing to sustainable access to safe drinking water, one of the key factor of Millennium Development Goals.

DBBL receives award for Best Presented Accounts by SAFA

Dutch-Bangla Bank Limited has been adjudged a winner of 'Certificate of Merit' in the Banking Category for the year 2007 based on published Annual Reports of entries from South Asian countries by Asian Federation of Accountants (SAFA), an apex body of the accountancy profession in the SAARC region.

The award ceremony was held on 15th November, 2008 at Hyderabad, India organized by the Institute of Cost & Works Accountants (ICWAI), India.

K Shamshi Tabrez, deputy managing director attended the function and received the award. Dutch-Bangla Bank Limited was also awarded the same certificate for 2006.

It needs to be mentioned here that Dutch-Bangla Bank Limited has been receiving awards every year for its published Accounts and Reports since 2002 awarded by the Institute of Chartered Accountants of Bangladesh (ICAB).

BRDB disburses Tk 589.23cr among poor in Rajshahi

BSS, Rajshahi

The regional office of Bangladesh Rural Development Board (BRDB) here has disbursed Taka 589.23 crore as loan among the poor and low-income group people in last 10 years under its Rural Livelihood Project (RLP) till October last. Sources said the BRDB has also recovered Taka 604.75 crore against the targeted Taka 622.84 crore under the revolving-fund method during the same period till last month.

The project is being implemented in 49 upazilas of Rajshahi, Natore, Chapainawabganj, Naogaon, Pabna and Sirajganj districts since 1998 under the ministry of LGRD and Cooperatives.

The main thrust of the project is to supplement the government's poverty alleviation efforts through income generation and creating employment for the disadvantaged and low- income group people involving them in both he agricultural and non-agricultural fields.

The main activities of the project are being implemented through formation of two-tier cooperative societies at village level like Bittahin Somobai Samity and Mohila Bittahin Somobai Samity while Upazila Bittahin Somobai Samity at upazila level.

Formation of village-level cooperative society and member- capital through depositing savings and shares, skill development training and providing soft-term loan among the target group people for their employment and income generation are the major components of the project.

Under the project, a total of 1,88,544 vulnerable people including 1,52,586 women were brought under the income generating activities through 5,695 registered cooperative societies including 4,575 for women in 49 upazilas.

Loans are given in sectors like fish farming, pottery, nursery, horticulture development, cow fattening, poultry firm, goat rearing, food processing, repairing and selling of irrigation equipment, paddy husking, carpeting, tailoring, sericulture, mat making, black smith and other incoming generating projects.

The society members have deposited Taka 4.84 crore as share and another Taka 14.47 crore as savings.

Some 86,044 beneficiaries were imparted training on different need-based field like cooperative management, bookkeeping and skill development under the project.

Regional Director (RLP) of BRDB Ayub Hossain told BSS that the scheme are gaining popularity among the marginal and low- income groups in the remote areas and helped them to become economically self-reliant as well as to free them from abject poverty.

The project has created opportunity for the poor people to change their standard of their living, Ayub said adding it has been contributing a lot in women empowerment along with creating awareness about their rights.

EBL Principal Branch takes a new look

With a view to provide better customer service and banking facilities Eastern Bank Limited (EBL) Principal Branch at 10, Dilkusha has been renovated. EBL Managing Director & CEO Ali Reza Iftekhar formally inaugurated the renovated branch in a simple ceremony recently. EBL Deputy Managing Directors, Mamoon Mahmood Shah and Muklesur Rahman along with other senior officials were present on the occasion.

Training courses on Capital Market begins in CSE

AB Siddique, CEO of CSE urged Securities and Exchange Commission for immediate implementation of a long cherished demand of a securities institute in the country.

He said while addressing in the inaugural session of month long 6th and 7th "comprehensive training course on Capital Market" that organized by the Chittagong Stock Exchange at CSE Conference Hall.

A B Siddique said, "It is one of the noble endeavors of CSE that we have been conducting comprehensive training courses to meet the dearth of skilled human resources in the market intermediaries. Capital market is the largest source of capital for entrepreneurs. So I hope' more and more entrepreneurs would come to form bigger capital for industrialization.

He advised the participants that the more you know the more demanded you will be in the job market. Bangladesh has enormous potentials to speed up employment opportunity || through industrialization which can be tapped by our small savers through IPO process. We have a vision to bring into existence in the country of skilled entrepreneurs who will consider our stock market as an effective fund sourcing. If we do so, country will stand in a position to ease inflation, boost up export earnings, implement poverty reduction strategy, etc. etc."

He further underscored that this training course should be continued and requested training participants to use perfectly and efficiently of the training resources and transformed it in the stock market professions.

Another former Director of CSE and former President of ICMAB, and also a resource person of the training Mr. Mohammed Mohiuddin FCMA conducted the first session of the Course. Among others from CSE, GM, Systems Mr. Abdul Mutaleb, GM Compliance Mr. Md. Atiquzzaman, Head of Finance & Company Secretary Mr. Ahmad Dawood, Coordinator of the training course Mr. Kamal Uddin lalal Manager, Market Development were present.

Pubali Bank holds branch managers conference of Comilla, Noakhali region

The Branch Managers' Conference-2008 (Comilla & Noakhali Region) of Pubali Bank Limited held at Bangladesh Academy of Rural Development (BARD), Comilla recently.

General Manager & Chief Financial Officer of Pubali Bank Limited A.T.M. Hasanuzzaman was present as chief guest. Regional Head of Comilla Region DGM Dilip Kumar Roy & Regional Head of Noakhali Region DGM Jahangiir Alam attended at the conference.

In his speech A.T.M. Hasanuzzaman urged all managers to achieve the targets fixed for the year 2008. He stressed on selection of potential borrower and try to enhance bank business. He emphasised on recovery of overdue, classified and write off loan on priority basis. He advised Regional head and Branch manager to keep close vigilance so that newly disbursed loans may not become overdue or classified by intensive supervision and close monitoring of the loan. He underscored the need for increased utilization of the modern Information Technology for qualitative improvement in the overall customer service of PBL as the bank has to operate in a highly competitive Banking sector.

Executives of Regional Office, Branch Managers of Comilla & Noakhali Region were also attended at the conference. Performance of the branches also evaluated in the meeting and necessary strategy and plans were taken to achieve the target fixed for the year 2008.

DBBL opens 2nd SME Service Centre in Sunamganj

Dutch-Bangla Bank Limited has opened its second SME Service Centre at Gobindaganj Bazar, Chhatak, Sunamganj on November 20.

This SME Service Centre has been linked with the Bank's Truly On-line Banking network to facilitate day-night 24 hours banking services to the clients from the very beginning of the day.

Md Yeasin Ali, Managing Director of the Bank inaugurated the SME Service Centre from which the customers of the rural area will be able to get the services of ATM, Kiosk (to deposit money), SME loans and remittance services.

While addressing in the opening ceremony, Ali informed that DBBL has planned to open more SME Service Centers for providing modern banking facilities in the rural area.

The Bank is always giving emphasis on providing financial services to the potential small and medium entrepreneurs across the country, he added. He categorically mentioned that DBBL has been giving priority to deliver the remittances very carefully and efficiently to the beneficiaries of the Bangladeshi expatriates living aboard within very short time.

The local elites, business personalities, bankers, educationists and local journalists were present in the inaugural ceremony.

The respected guests opined that Dutch-Bangla Bank is not only rendering present-day customers need banking services but also the Bank spends a significant portion of its annual profit for carrying out a wide range of philanthropic and social activities from which the society is at large benefited.

BTRC hands over BWA services licence to BCL

Bangladesh Telecommunication Regulatory Commission (BTRC) has given the BWA services licence to Banglalion Communications Limited (BCL).

BCL Chairman Major (Retd) Abdul Mannan, Bangladesh Finance and Investment Company Limited (BD Finance) Managing Director GM Salehuddin Ahmed and City General Insurance Company Limited Managing Director Md Sujauddin Ahmed received the licence on behalf of the Banglalion at the BTRC head office in the city recently.

Senior officials of BTRC, BCL and other organisations were present on the occasion.

Under the licence, the BCL will be allowed to provide different kinds of services using WiMAX technology.

Banglalion being the highest bidder at Tk 2.15 billion (215 crore) at the open outcry bidding held on September 24 last became eligible for receiving the licence.