ADB gives $200m to aid budget

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The Asian Development Bank (ADB) will give Bangladesh US$ 200 million in budget assistance until next December, said the finance minister, who is going to place in parliament this Thursday the maiden budget of the new government presumably with the highest-ever allocation of funds, reports UNB.
Minister AMA Muhith stated this while presenting a report on the participation of Bangladesh delegation in the 42nd annual meeting of ADB's Board of Governors at Monday's regular cabinet meeting held at Bangladesh Secretariat with Prime Minister Sheikh Hasina in the chair.
He presented the report as it has recently been decided that, from now on, cabinet members should present reports on their participation in any seminar or conference abroad, Prime Minister's Press Secretary Abul Kalam Azad said while briefing newsmen in the conference room of Press Information Department (PID) about the cabinet meeting.
The cabinet in its meeting approved in principle The Post Office (Amendment) Act 2009, bringing changes to Article NO 4 and 58 of the law and approved The Jute (Amendment) Act 2009.
The Press Secretary said following the amendments to the Post Act, the cabinet discussed giving legitimacy to the booming private courier services, which apparently outweigh public-sector postal mail services.
He said, "The amendments gave the Postal Department the authority to give licences to other institutions in exchange for specific amounts of fees for conducting mailing activities."
Besides, the amended article No 58 also says the fine for violating the existing laws in postal sector will be enhanced to Tk 50,000 and Tk 0.20 million (2 lakh) from the previous amounts of Tk 50 and 500.
The Jute Ordinance 1962 was promulgated for legalising trade and business in jute and jute products and later it was changed partially in 1974 and 1983.
Under the amended Jute Act, weight of jute bales would be counted as per unit of kilogram instead of maund and the rope used for tying the bales will also be included in weight.
Meanwhile, the custom of submitting report by cabinet members after participating in big overseas events like seminars and conferences was introduced in 1972.
"But later the practice was not followed. The practice has been revived following the request of Prime Minister Sheikh Hasina," the Press Secretary said.
The Prime Minister told the cabinet that if the cabinet members inform their colleagues and secretaries concerned about the activities and findings of the conference and seminar they participated, it will be very helpful for taking and implementing development projects.
"The Prime Minister also said the experiences and information the cabinet members will gather by participating in the international seminars and conferences will be effective to work for people's welfare through creating social safety net," Azad said.
A four-member Bangladesh delegation led by the Finance Minister participated in the ADB annual meeting held on May 2-5, 2009 in Bali, Indonesia.
Azad said the Finance Minister in his speech in the first working session of the ADB meeting had said Bangladesh has been successful in overcoming the preliminary impact of the world economic recession.
The Finance Minister had emphasised increasing investments in power, energy, communications and social infrastructures for attaining long-term economic growth.
Besides, the Bangladesh delegation had talks with the delegations of China, the Philippines, Indonesia and India over various development issues, including trade balance of Bangladesh with them, the Press Secretary told the journalists.
Finance Adviser to the Prime Minister Dr Mashiur Rahman also presented another report in the cabinet meeting on participation of a four-member delegation led by him in the annual summit of ESCAP held from April 23 to April 29 this year in Bangkok, Thailand.
In his address to the summit, Dr Mashiur Rahman focused on regional cooperation in investment, agricultural development, transport, water resources management, trade, and information technology.
Dr Mashiur in the summit also presented the present government's various programmes on development of agriculture technology and management.