Cautiously crafted Tk 7.97t budget tomorrow amid economic pains

Higher inflation, lower investment and forex crunch remain pains in the neck as the government goes to place in parliament tomorrow a cautiously crafted Tk 7.97-trillion new national budget.Finance Minister Abul Hassan Mahmood Ali is expected to present the maiden...

Using fragrance that suits the occasion

There is no denying the power of fragrance. Beyond simply being a pleasing scent, fragrance is an invisible accessory that defines one's personality and creates a lasting impression. The appropriate fragrance choice may uplift the mood and improve the overall...

Quandary on public finance management

Commenting on the country’ public finance situation has become problematic due to the unavailability of timely data. As of May 2024, the Ministry of Finance (MoF) data is available only until January 2024. As is known, the MoF provides the...

Govt spending to cover SoEs' losses may double in FY'25

Government spending to cover net losses of state-owned enterprises (SoEs) is likely to double in the next fiscal year compared to the current budget, according to sources.The government forecasts that 49 SoEs may incur a total loss of Tk 280.47...

SD, RD on nearly 300 items may go

Import taxes on nearly 300 goods may be bundled out in the upcoming fiscal year in preparation for Bangladesh's graduation to middle-income country that presupposes tariff rationalisation.Officials in the revenue board have said Supplementary Duty (SD) on some 191 while...

10 cattle markets for Eid in Ctg

CHATTOGRAM, June 03: Apart from three permanent cattle markets, seven temporary cattle markets will sit in the port city ahead of the holy Eid-ul-Azha.The district administration has given permission to the Chattogram City Corporation (CCC) to set up seven temporary...

How much damage Remal did to Sundarbans' ecology?

How much devastation cyclone Remal has caused to life and property in Bangladesh will take some more time before it is fully comprehended and estimated. So far, as could be learnt, around 4.59 million people have been affected and some...

Economic growth and employment

Bangladesh economy is currently under significant strain due to several ongoing challenges. While external factors such as the Covid-19 pandemic and the Ukraine war have left their mark, persistent domestic issues—such as policy weaknesses, poor governance, and failure to implement...

Global economic rebound to drive up BD goods’ demand

Hopes underpin new budget outlook as the government eyes a boost in Bangladeshi goods on the international market in the upcoming fiscal year on gradual global economic rebound.Also, as the economic conditions in major economies like Euro Zone and the...

Looking for alternative reserve assets

Worries over falling foreign exchange reserves have been forcing many countries to look for alternatives to US dollar (USD) as reserve currency. Bangladesh, for instance, is concerned as its foreign exchange reserves position has been falling persistently since it reached...

Trouble brewing for tea as costs outpace prices

Despite record production in 2023, local tea estates are facing financial strain as a number of commercial tea growers have been forced to shutter businesses in the face of recurring losses.The cause of this crisis is a perfect storm: production...

Public varsities, MPO-listed institutions to pay double

Source tax on bank-interest incomes of public universities and MPO-listed educational institutions may double in the upcoming fiscal, sources said, as the government targets revenue boost to cut budget shortfalls.The tax rate is likely to be hiked twofold to 20...

Concern about affordability of milk

The World Milk Day observed every year on June 01 celebrates the wholesome benefits of milk as a food, not just a beverage. No other drink has this nourishing quality. The day is observed to promote cow milk as a...

BTRC moves to recover dues from IIG cos

The Bangladesh Telecommunication Regulatory Commission (BTRC) has reached out to the International Internet Gateway (IIG) companies in a bid to recover its outstanding dues in revenue. Thirty-two IIG companies owe Tk 976.35 million to the BTRC. In its 283rd meeting,...

Businesses allowed to release goods sans customs assessment

The country is going to implement the new customs act on June 6, the day the national budget for fiscal year 2024-25 is placed.This law, the Customs Act-2023, replaces the 55-year-old Customs Act-1969 and boasts features aligned with international best...

MF unitholders need to brace themselves for no return for FY24

Mutual Funds (MFs) will hardly be able to recommend any dividend for FY24 as they have failed to gain any profit in the year up until now out of the gloomy market. To minimise investment risks, fund managers tend to...

Let the Gulshan Lake survive

The once majestic Gulshan-Baridhara Lake, sprawling over the diplomatic VIP area of Dhaka, has already lost its distinctive postcard attractiveness and is slowly but steadily decaying due to a two-pronged attack of pollution and encroachment. Over two decades ago, in...

When growth is low, inflation high

When inflation overtakes growth, an economy generally comes under severe pressure. If unemployment also starts to rise, the economy moves toward stagflation. Theoretically, stagflation is the simultaneous appearance of slow growth, high unemployment, and increasing prices. Every country wants to...

Inflation dynamics in Bangladesh

Bangladesh Bank prioritises maintaining price stability as its primary goal. It is crucial for the development of monetary policy to observe and comprehend the root causes of fluctuations in consumer prices and wage levels. Bangladesh Bureau of Statistics (BBS) publishes...

What one needs to get into a top university

Nowadays, studying abroad has become a popular choice for various reasons, be it the desire to thrive in a more competitive environment, be it succeeding in life with all the possible opportunities, or be it simply for a modern, tech-savvy,...

India now wants to run Mongla port

Neighbouring India now wants to operate Bangladesh's second-seaport Mongla where it already enjoys transhipment facility to transport cargoes to and from its landlocked north-eastern states, sources said.The proposal is being seen as part of their expanding footprint in strategically important...

Canada airs concern over not notifying WTO

Canada has expressed concern that Bangladesh is finalising its new Import Policy Order (2025-2028) without notifying the World Trade Organization (WTO), according to documents.In an official letter to the Ministry of Commerce, the Canadian High Commission in Bangladesh recently requested...

A capital city sans cosmopolitan culture

In recent times, road transport and bridges minister has expressed his frustration over the poor conditions of public buses on roads and highways. Lately, he has lamented that the vehicles are too ugly to look at. One could not agree...

Apathy towards sufferings of Remal victims

There seems to be a widespread indifference to the follow-up of Remal's devastation. The impression is that the intensity of the cyclone was somehow less than anticipated and once people came to know about it, they could mind businesses other...

Tax expenditures targeted down by Tk 150b in FY25

Direct-tax expenditure in terms of foregone revenues may shrink by Tk 150 billion in the upcoming fiscal year with the bundling out of numerous exemptions from major sectors that include physical-infrastructure construction. As per National Board of Revenue (NBR) estimate,...

Umrah Card in Bangladesh

For the first time in the country, the National Bank Limited has introduced an Umrah card under the Mastercard branded multi-currency prepaid card. The inauguration of this card took place at a five-star hotel in the capital on March 11.Through...

From a Scottish mountain to Hajj

I was visiting Scotland in June 2022. My tour became troublesome due to my chronic back pain. Sometimes I have to rest in bed and take painkillers to get some relief. Scotland is a country of mountains and cold. Though...

Govt takes measures to increase Hajj pilgrims amid lower turnout

The government has taken measures to fulfil Hajj quota targets next year, as the number of registered Hajj pilgrims this year is much lower than the quota allocation, according to a director at Dhaka's Ashkona Hajj camp."We have taken initiatives...

Hajj blends spirituality with economics

Hajj is one of core obligatory religious duties for any Muslim who has physical, mental and financial abilities. And in that case, an eligible Muslim has to perform it at least once in his/her lifetime. Hajj begins on the 8th...

MoL rejects proposal to impose 25pc duty

The law ministry has rejected a customs-authority proposal to impose 25-percent duty on cars imported by the members of parliament (MPs), who are now privileged to import it duty free, officials in the revenue administration said.The National Board of Revenue...