Govt set to establish new support fund for entrepreneurs

The government is going to introduce an alternative loan support model soon replacing the existing equity fund, in an attempt to bring entrepreneurs under a legal framework, officials said. The move comes as the government could neither properly monitor the...

RHD plans to launch ITS on nat'l highways

The Roads and Highways Department (RHD) has taken a move to introduce Intelligent Transportation System (ITS) for ensuring smooth and secured traffic movement on the national highways.According to the officials concerned, the department has already started using the system in...

Dhaka, Beijing to hold first meeting next month

The first meeting to determine the feasibility of a bilateral free trade area (FTA) agreement with China will be held next month, officials said.The meeting was deferred twice in the last six months.A six-member Bangladesh delegation will sit with Chinese...

Package VAT collection below potential

The collection of package Value Added Tax (VAT) from small businesses has recorded a decline during the past three fiscal years, the officials said.They said most of the small businesses under the package VAT are not paying their dues to...

Weed management essential to boost food output

Weed in a field of crops is a real hazard that can decrease the yield of food, nay all crops. Crop field's weed competes with crops for light, nutrients and water thereby resulting yield loss of field crops by up...

Alarming rise in lightning strikes: Government takes ad-hoc measures

In the 1950s, when scientists of south Norway and western Sweden noticed that the fish in the lakes and rivers were dying or disappearing, they detected that the phenomenon was linked to the effects of acidifying air pollutants that had...

The future of savings certificates

Government is perhaps considering reduction in the rate of interest on savings certificates. This decision may be announced soon after the presentation/ approval of the national budget for fiscal year 2018-2019. The rate of interest may be reduced to a...

PPPA meets in Japan Jun 04-09

PPP Authority and Japan government will sit next week to craft the next action plan for proposed Japanese investment in Bangladesh, officials said.The officials will meet in Japan for the second time from June 04-09 to jointly work on six...

Universal pension system for pvt sector under study

A universal pension system for the private sector is now under study at the ministry of finance (MoF), according to official sources.If introduced, a private individual will be entitled to certain amount of money as pension every month under the...

Reduction in number of VAT rates likely

The government is likely to reduce the existing nine different rates of Value Added Tax (VAT) to six in the budget for fiscal year (FY) 2018-19. It may also revise the existing rate of Advance Trade VAT (ATV) upward by...

Capitalising on the growing demand for base oil

With the industries sector booming, there has naturally been greater inclination towards higher import of efficient machineries to be used in the factories. Almost all of these machines as well as various vehicles in the transport and communications sector require...

Budgetary measure to fix chaos in public transport

Chaos in the public transport sector is growing day by day. Makeshift and uncoordinated moves to fix the problem are not going to pay, even partially. Frequent traffic congestion, reckless driving and inappropriate vehicles have made the situation absolutely chaotic....

No sign of improvement in city traffic situation

A cabinet committee has expressed disappointment at the failure of the Dhaka Transport Coordination Authority (DTCA) to properly coordinate the traffic system management in and around Dhaka city.The cabinet committee on government purchase (CCGP) observed that there was no sign...

PM Hasina meets Modi and Mamata

The meetings of Prime Minister Sheikh Hasina with the Indian Prime Minister Narendra Modi and Paschimbanga Chief Minister Mamata Banerjee took place while she was on a two-day official visit to India on May 25-26. The three leaders joined two...

VAT Act: Facilitating refund of accumulated input tax credit for service providers

Finance Minister AMA Muhith is scheduled to present the Finance Bill, 2018 in the Parliament in the first fortnight of June 2018, and there are lots of expectations from it. The business community is especially looking forward to certain amendments...

Multilateralism is the only way forward

International cooperation is under strain. The voices of protectionism and nationalism are gaining strength, and governments are increasingly pursuing policy goals through unilateral or ad hoc measures, rather than by working together.Even against this backdrop, it remains abundantly clear that...

The relevance of Marx today

Karl Marx, whose 200th birth anniversary was observed recently, is arguably one of the greatest thinkers of all ages. Billion copies of his books, particularly the magnum opus Das Capital, have been sold in different languages all over the world...

Scrutiny helps boost VAT from large unit

The collection of Value Added Tax (VAT) from large businesses increased significantly until March of the current fiscal year (FY).The increase was attributed to the intensive scrutiny and investigation by the Large Taxpayers Unit (LTU).However, the performance of a large...

Real Madrid win Champions League

KIEV, May 27 (AFP): Gareth Bale came off the bench to score twice, including one of the all-time great goals in a Champions League final, as Real Madrid beat Liverpool 3-1 in Kiev on Saturday to take the trophy for...

NPL: Introducing common valuation database for collateral securities

The heart of a bank is divided into two segments - deposits and loans. The principal objectives of a bank are to collect deposit from surplus portion (i.e. from the depositors) and supply the collected fund to the deficit portion...

Stock market: No change of luck

Stock exchanges all over the world are unpredictable places. Their fate fluctuates unendingly. So are their indices. The fluctuations, however, are always dependent on a number of factors, economic or otherwise.The stock market in Bangladesh is also unpredictable. But the...

Exports get raw deal from both big, small SAARC nations

Exports from Bangladesh to SAARC countries are being subjected to various types of non-tariff and para-tariff barriers, according to a study carried out by the Bangladesh Tariff Commission (BTC) recently.The study has found that both big and small members of...

Govt may tax global social media giants

The government is likely to impose income tax on the businesses having no permanent establishments in Bangladesh.The imposition of tax may come into force from the next fiscal year (FY), according to people familiar with the development.The National Board of...

Banking risk management: CRO plays crucial role

The culture of risk management began in Bangladesh after the adoption of Basel I capital accords in 1996 by the Bangladesh Bank (BB). However, Basel I considered credit risk as the only risk. Later, risks like operational, market and liquidity...

Migration: Remitted money hardly used for productive use

Migration as a livelihood strategy has duly drawn the attention of academics and policymakers as it is considered as a linchpin of economic growth. The role of remittance in Bangladesh's growth and development needs no elaboration as two Rs (RMG...

The singing birds exploring Nazrul's treasure trove

During the '70s, '80s and even '90s, a bunch of singers enthralled the Nazrul Sangeet connoisseurs and lovers. Those were the days when most of the people, especially middle-class educated ones, found music, dramas and movies alongside book reading as...

Renata to establish subsidiary company in United Kingdom

Renata Limited (formerly Pfizer Limited) has decided to establish a subsidiary company in United Kingdom after fulfilling necessary regulatory requirements to export products to the European countries.The name of the subsidiary will be 'Renata (UK) Limited' as the company's board...

BRI to forge ‘closer Sino-Bangla ties’

'China dream' and 'Bangladesh dream' have blended well as both the nations partnered in belt and road initiative (BRI), a top Chinese entrepreneur has said.The two countries have great potential for stronger bilateral cooperation, he commented on Friday."Bangladesh is a...

BFSA surveys food hygiene standards in 60 city eateries

The Bangladesh Food Safety Authority (BFSA) is set to complete its ongoing survey of hotels and restaurants in the next one month, official sources said. The BFSA, which is under the Ministry of Food, started the survey on April 2...

Towards simpler and effective tax laws

The national budget for the fiscal year 2018-2019 is coming up. The National Board of Revenue has already initiated discussions with businessmen, traders, industrialists, professionals, institutions and associations about the budget as well as amendments to existing laws. We have...