Hearing on power tariff hike proposal deferred

Bangladesh Energy Regulatory Commission (BERC) postponed public hearing on power tariff hike proposal, and decided to issue a show-cause notice against the managing director of Dhaka Electric Supply Company (DESCO), asking him to explain his absence at the hearing. The watchdog body was scheduled to hold the hearing at the BERC office on the DESCO's power price hike proposal. It was postponed, as DESCO chief Monzur Rahman, who earlier made a statement on the proposal, failed to turn up for the hearing. - UNB BAB set to establish capital market stabilisation fund The Bangladesh Association of Banks (BAB) is set to establish a capital market stabilisation fund to help restore confidence of the investors in the share market. The BAB, representing the sponsor-directors of the country's private commercial banks (PCBs), is expected to take a final decision on the formation of the fund at a meeting, scheduled to be held Sunday, a private banker close to the BAB, told the FE Thursday. He also said the BAB at its informal meeting, held at its city office Thursday, decided in principle to create such a fund. - FE Report