The New Nation - Internet Edition

NTTN license first step to build Digital Bangladesh by 2021: Fiber@Home Ltd gets first optical fibre network licence

NATION BUSINESS REPORT

The first license of Nationwide Telecommunication Transmission Network (NTTN) was handed over to Fiber@Home Limited at a function at BTRC office, IEB Bhaban, Ramna in the city yesterday.

Chairman of Bangladesh Telecommunication Regulatory Commission (BTRC) Maj Gen (Retd) Manzurul Alam handed over the license to Managing Director of Fiber@Home Limited Moynul Haque Siddiqui.

Speaking on the occasion, the BTRC chairman termed the NTTN license as the first step to build 'Digital Bangladesh' by 2021, which was committed by the new government led by Prime Minister and Awami League President Sheikh Hasina.

"Providing NTTN license would definitely help expansion of telecommunication network across the country," he said.

Alam said, without infrastructure development, information technology could not be reached to the doorsteps of the rural people. "If we could spread infrastructure facilities across the country implementation of e-governance would be easier," he added.

The BTRC chairman said, with the completion of NTTN, rural people would be connected with telecommunication and internet network, and internet penetration would be increased to a greater extent.

Besides, he said, it would remove overhead cable hazards in urban areas.

Describing NTTN as a milestone for the development of information technology in the country, Managing Director of Fibre @ Home Limited Moynul Haque Siddiqui said, it would take the nation towards prosperity long ahead.

He hoped that densely populated cities of the country would be brought under the network within six months and the facilities would reach at least 20 upazilas by the next one year. BTRC sources said, Fibre @ Home Limited will set up and run optical fibre-based NTTN which will help telecom service providers to give service up to 'end users'.

As per the NTTN guideline, a licensee requires to submit a bank guarantee as security deposit worth Tk 100 million in favour of the BTRC within 15 days of issuance of licence with minimum validity of five years.

Foreign equity of any interested firm will be limited to 60 per cent.

The BTRC said the overseas partner shall directly invest in foreign currency equal to his percentage of ownership and no bank loan from any Bangladeshi scheduled bank or financial institution or leasing company can be raised for the overseas part of the investment.

For the non-resident Bangladeshis (NRBs) a maximum of 70 per cent of Foreign Direct Investment will be allowed but no loans can be raised locally from any financial institution.

A partnership/consortium of Non Resident Bangladeshis (NRBs) and foreign equity without Bangladeshi partners will not be allowed, the BTRC sources said.

The duration of the licence might be initially for a term of 15 years.

Strengthening Union Parishads gathers momentum: World Bank

NATION BUSINESS REPORT

The Local Governance Support Project (LGSP) is incrementally strengthening local governance and providing expanded block grants. Last year, 1060 Union Parishads (UP) recieved the block grant of nearly $18 million. The World Bank is supporting the Bangladesh government through LGSP to develop accountable and inclusive local governance providing services that meet community priorities. Local Government Division of Ministry of Local Government, Rural Development and Cooperatives is implementing the project that had started in 2006.

LGSP provides expanded Block Grant directly to UPs given that they receive unqualified audits annually and take specific steps in improving the transparency of their budgeting and expenditure process, and involve communities in decision making and reviewing their performance.

Less than two percent of total public spending flows towards the delivery of local services, with the bulk of resources provided on a highly conditional basis. The 4484 UPs in rural areas have a highly limited degree of authority over a far smaller level of resources. Strengthening local governance through community participation and oversight has been identified as an important element of the Government of Bangladesh's (GoB) Poverty Reduction Strategy Paper (PRSP).

Under LGSP, about 10,000 village community groups were mobilized who have prepared budget with their own local governments and implemented over 10,000 community schemes. With increased funds and enhanced skills and management capacity, UPs and communities have built and rehabilitated community infrastructure, especially those destroyed by the twin disasters - Flood and SIDR 2007. These community infrastructure proved to be key to increased income and well being through improving mobility of people, and enhancing access to services, markets and information,

In 2008, 2257 UPs are audited and those receiving clean audits will get nearly $50 million expanded block grants. Within the next three years, it is expected that LGSP will cover all the 4498 UP. The government reiterated its long term vision and commitment to strengthen UPs to help them become the foundation of good local governance.

Recently a World Bank team reviewed progress of the project implementation and noted that the government had made good progress in strengthening its implementation process for the project. However, considerable work is yet to be done to ensure that citizens and stakeholders are informed about the program. Also it is important to impart necessary training to all UP functionaries. Government is taking necessary steps to provide capacity building training to the 2257 UPs. IEC campaign has been launched to enhance community awareness and improve transparency and accountability of UPs to citizens.

ACI Consumer Brands holds Annual Sales Conference 2009

NATION BUSINESS REPORT

The Annual Sales and Marketing Conference 2009 of ACI Consumer Brands were held on January 6 last at the Bangladesh China Friendship Conference Center in the city. The conference was inaugurated by Dr Arif Dowla , Managing Director and welcomed by Syed Alamgir , Executive Director and opening speech by Ashraf Bin Taj, Business Director.

The conference was also addressed by Bishwajit Roy, Business Manager Food, Anup Kumar Saha, Business Manager, Flour, on the occasion.

Dr Arif Dowla thanked the team for their performance during the year 2008 and inspired the team to do even better in the years to come. He assured full support to make this business growing in a bigger scale.

Mr Alamgir gave an outline of the objectives for the year 2009 to an audience of 1400 representatives and assured the team of all the necessary assistance required for achieving the goals.

ACI is a large FMCG company and market leader in mosquito repellent and household antiseptics market with ACI Aerosol, ACI Mosquito Coil, Cockroach Killer, Savlon, Sparkle and Vanish Toilet Cleaner and also do the marketing of Sparkle (Energy Savings Light). ACI produces very high quality world class edible salt like ACI Salt which has achieved the Best Food & Beverages Award from Brand Forum this year.

ACI Foods brand, featuring the world-class technology, high-class raw-materials and nicely machine packed spices in competitive price, has already attracted the customers of Bangladesh and of the world as well. ACI Foods produced Pure powdered spices, Pure Curry Powder, Pure Mustard Oil, Pure Pickle, Fun Candy, Fun Chutney, Fun Chanachur. Pure Spices was associated last year with this prestigious award British Curry Award as the first and only Bangladeshi brand. Along with Bangladeshi market, the Pure spices brand is exported to Australia, Saudi Arabia, Kuwait, Bahrain, Arab Emirates, UK and Italy and Pure products are available in the retail shops of those countries.

ACI is the exclusive marketing partner and distributor of Colgate, Nivea, Equal/Canderel and Godrej Consumer products and Laser Shaving products for the territory of Bangladesh.

BKB disburses Tk 19.40b loan in six months

Bangladesh Krishi Bank (BKB) disbursed Tk 19.40 billion loan during last six months of the current fiscal year, which is Tk 4.34 billion higher than the disbursement during the corresponding period of the last fiscal, says press release.

During the same period, the BKB recovered loans amounting to Tk 10.77 billion, which is higher by Tk 1.20 billion compared to the corresponding period of the last FY.

Premier Bank opens 2 booths for electric bill collection in city

NATION BUSINESS REPORT

'Service First' is the motto of The Premier Bank Limited, a third generation fast growing bank of the country. For giving best services to its customer the bank has opened two booths for collection of electric bills at Gaus Nagar, Easkaton, Dhaka and Outer Circular Road, Rajarbagh respectively on January 5 last.

Independent Director Abu Haniff Khan and Managing Director of Premier Bank Ltd Khonker Fazle Rashid inaugurated the booths. Reza Shah Alam, Director Finance of the Dhaka Electric Supply Authority, SEVP and Head of Corporate Marketing Division Dewan Anwarul Latif, VP and Head of GSD Syed Nowsher Ali and high officials of the both institutions were also present on that occasion.

Ideal Co-Operative Society Ltd awarded as Best Cooperative organisation

NATION BUSINESS REPORT

Ideal Co-Operative Society Ltd (ICL), a leading co-operative organisation in the country has achieved national medal as the best co-operative organization.

LGRD and Co-Operatives Adviser Anwarul Iqbal in a formal ceremony on Sunday handed over the Best Co-Operative Organization award to Managing Director of ICL HNM Shafiqur Rahman.

Registrar of the Department of Co-Operatives Masud Elahi presided over the award-giving function while secretary of the Ministry of Co-Operatives ATM Fazlul Karim attended as special guest.

ICL began its journey in 2001 at Badda in the capital city in a limited scale with some banking professionals and some unemployed youths. Presently ICL has expanded its activities to various places in Dhaka and Chittagong though its 35 branches.

Besides, more than 1,500 employees are now serving various organisations of ICL Group, like ICL Garden City, ICL salt Industry, Traveling and Hajj Project, ICL Education Project, ICL Real Estate Developers Ltd, ICL Printing and Publication Project, ICL Health Complex etc.

Brummer & Partners inks deal with Rahimafrooz

NATION BUSINESS REPORT

Brummer & Partners on Tuesday signed an agreement for a strategic investment with Rahimafrooz.

The equity investment will be for the growth of automotive battery export business of Rahimafrooz, a news release said.Khalid Quadir, chief executive officer of Brummer & Partners, said the investment agreement marked a significant first step for his firm to provide private equity to successful, well reputed and highly professional business groups, such as Rahimafrooz.Feroz Rahim, group managing director of Rahimafrooz, said the agreement would help promote the growth and internationalisation of his enterprise.

Al-Arafah Islami Bank holds EC meeting

The 22th meeting of the executive committee of Al-Arafah Islami Bank Ltd was held at its head office recently.

Alhajj Abdus Samad, chairman of the committee presided over the meeting. The meeting reviewed the overall business and investment position of the bank.

Co-chairman of the executive committee Alhajj Abdul Malek Mollah, chairman board of directors Badiur Rahman, members board of directors Alhajj Mil' Ahmed Sowdagar, Alhajj Md Harun-ar-Rashid Khan, Alhajj Nazmul Ahsan Khaled, Hafej Md Enayetullah, Alhajj Ahmedul Haque, general manager of Bangladesh Bank Mir Abdur Rahim, managing director of the bank MA Samad Sheikh, additional managing director ATM Harun-Ur-Rashid Chowdhury, deputy managing director Ihsanul Aziz, company secretary and executive vice president Md Mofazzal Hossain and sr vice president ANM Abdus Shahid were present at the meeting.

Prof Dr Shamsher Ali takes part in 96th Conference of Indian Science Congress

Professor Dr M Shamsher Ali, renowned nuclear scientist, President, Bangladesh Academy of Sciences and Vice-Chancellor, Southeast University, left Dhaka on an invitation from The Indian Science Congress to attend the 96th Conference of Indian Science Congress, which began on January 3 last at Shillong, India. The main theme of the Conference is 'Science Education and Attraction of Talent for Excellence in Research.". Professor Ali presents an article namely "New Ways of Teaching Science and Mathematics--Doing more with less". He will return home on January 9 next.

CITF begins on Feb 7

Our Correspondent, Chittagong

The month-long Chittagong International Trade Fair-2009 will begin on Polo ground in the port city on February 7.

The Chittagong Chamber of Commerce and Industry, which will organise the fair, at an emergency meeting on Monday formed a committee with its director SM Abu Tayaab as chairman and directors Sayad Ahsanul Hoque, Abdul Maleque and Mohammed Shaheen Alam as co-chairmen.

CCCI directors Fahim Ahmed Faruque, Moinuddin Ahmed, AKM Akter Hossain, Emdadul Hoque Chowdhury, Wasiur Rahman Chowdhury, Mohammed Shoeb Riad, ASM Kaiser Ali and Banjir Chowdhury Nishan have been made members of the committee.

Rice prices fall sharply in northern region

BSS, Rangpur

The prices of rice and paddy markedly fell down in the country's northern region last week due to their higher supply as well as fear of tough actions against hoarding by the new government.

"The hoarders are selling large quantity of rice and paddy fearing actions by the new government that has a clear determination to bring down prices of essentials including rice and paddy," traders said.

According to the market sources, coarse rice is now selling at Taka 20 and Taka 21 per kg at rural markets, reasonable to the common people. The prices of both coarse and fine variety of rice fell by Taka five to Taka seven per kg during the last week.

The per maund (every 40 kg) price of coarse variety and fine variety paddy also marked a sharp fall by Taka 200 per maund on an average, and those were selling now at the paddy markets at Taka 450 and Taka 500 respectively, traders said.

In the previous week, the prices of the same were Taka 660 (coarse) and Taka 725 (fine) per maund paddy in the region, the market sources and concerned officials said.

Controller of Food of Dinajpur Abdullah Al Mamun said prices of rice and paddy rose to an abnormal level in recent past, and now these are coming down to a tolerable level of about Taka 20 per kg.

Some wholesalers, millers and retailers said release of a large quantity of illegally hoarded rice by the dishonest traders as well as bumper production of T-Aman paddy this year caused the present sharp fall in rice prices.

Some rice wholesalers of Rangpur Pouro market said they sold an 84-kg sack of new coarse variety of hybrid rice at Taka 1,650 Tuesday, which is Taka 220 lower than its price a week ago.

The wholesale price of this variety was recorded at Taka 19.64 per kg, and the retailers are selling the same at Taka 21 to Taka 22 per kg in the urban markets in the region, they added.

An 84-kg sack of BR-28 (category-1) rice was sold to the retailers at Taka 2,500 against Taka 2,700 of the previous week, while 84-kg sack of BR-28 (category-2) was sold at Taka 2,300 against Taka 2,500, and BR-28 (category-3) at Taka 2,200 against Taka 2,400.

Meanwhile, coarse variety rice is selling at Taka 16.50 per kg in terms of Bangladeshi currency in the Indian side of the border at Hilli landport of Dinajpur Tuesday, sources said.

The common people were seen very happy with the rice price decline. A number of farmers, however, said they were unhappy for low paddy prices, which are below their production cost. They suggested the government to fulfil its commitment of bringing down prices of fertilisers, diesel and agri-inputs as soon as possible.