Foregone corporate taxes surpass actual collection

Bloated tax-related expenditure outstrips actual collection of direct tax from corporates in Bangladesh. The latest official count shows a tax expenditure of Tk 853.14 billion in the 2020-21 fiscal while receipt was Tk 852.24 billion. The due amount the exchequer...

Heavy reliance on LNG import

In recent years, the landscape of the energy sector in Bangladesh has witnessed significant changes. The rising demand for natural gas, coupled with the difficulties in gas exploration and production, has resulted in increasing reliance on import of liquefied natural...

How do they sleep at night?

How do politicians and generals who order the murder of innocent men, women and children sleep at night? Or is it that over time they become psychologically inured to any feeling of pity, of regret?In our times, many have been...

Bangladesh urged to meet pledges on labour, human rights within timeframe

Expressing concern over the limited progress on the National Action Plan (NAP) on ensuring labour rights, the European Commission (EC) has requested Bangladesh to implement its pledges within the stipulated timeframe to enjoy the GSP-plus trade concession in the EU...

Many cos keep providing incomplete PSI in absence of regulatory action

Aziz Pipes is one of the many companies that have not explained why its earnings had a sharp deviation between FY22 and FY23, in breach of listing regulations. There is a specific provision that makes it mandatory to publish reasons...

Exporters getting longer-term bond licence

Exporters are to enjoy an enhanced ease of doing business as the government is set to extend bond-licence tenure to three years to save their time and cost. The Customs Bond wing of the National Board of Revenue (NBR) made...

Cold storage syndication blamed for record potato price hike

A recent study by the commerce ministry has found a syndicate of cold-storage owners responsible for the record hike in potato prices this year.However, a top cold-storage businessman denied any involvement in price manipulation. He claimed the government data on...

Has dengue come to stay?

Dengue is still here and taking a heavy toll on public health every day. Though this vector-borne disease should be around in the monsoon months, it seems, Bangladesh has proved to be a happy breeding ground for its carrier, the...

Production in CUFL resumes after getting gas

Chattogram, November 5: The Chattogram Urea Fertilizer Company Limited (CUFL) has resumed production after a six-month closure, following machinery renovations and the resumption of a limited gas supply. On May 5, the Karnaphuli Gas Distribution Company Limited (KDGCL) had suspended...

Egg import held back by 33pc duty

The government has allowed the import of 200 million eggs to cool off the surging prices, but no eggs have arrived in the country even in two months.Importers say they are reluctant to bring in eggs due to the high...

Most banks' income swells on higher interest income, return from govt securities

Most of the listed banks logged a higher profit year-on-year in the nine months through September this year, as the government's money tightening policy led to an increase in interest income and return from Treasury bonds. Twelve of the financial...

Path to sustainable growth in South Asia

The global economy has faced several challenges in recent years. While Covid-19 took a substantial socioeconomic toll on the global economy as it emerged and spread, it also created several new vulnerabilities in economies while also exposing several deep-rooted issues,...

Bloated business based on criminal practices

The government's appeal and order for arresting prices of essentials fell on deaf ears. Instead of complying with the rates the government fixed for some sensitive commodities of everyday use, businesses have gone for hiking the prices on lame excuses....

Instability in the RMG sector

The industry that alone accounts for 85 per cent of the country's total export receipts is again in turmoil as workers have taken to the streets demanding higher minimum wage. The Readymade Garment (RMG) industry workers' minimum wage, now at...

Tax on private sector PF, other funds cut to 15pc

The government has decided to cut the tax rate on private sector provident fund (PF), Gratuity Fund, Superannuation Fund and Pension Fund to 15 per cent from existing 27.5 per cent.The decision comes following wide-spread demands and recommendations from a...

IT cos benefit from more Internet users but lose revenue to poor networks in FY23

The IT companies' performance was mixed in FY23, but the features that made some businesses deserving of profits in the economically stressful year than others were less reliance on imports and services tied to Internet usage.Of the 10 listed firms...

US trade policy and Bangladesh

Any bilateral trade-related step taken by the United States (US) has various critical implications for its trading partners. As the dimensions of trade as well as economic relations vary depending on the extent of partnership, different countries face different challenges...

Bangladesh flag vessel act deepens difficulties for foreign feeder vessels

The "unstructured" and "inconsistent" implementation of the Bangladesh Flag Vessel Act and subsequent rules are causing severe uncertainties for foreign flag ships plying to and from Chittagong port and regional transhipment ports, stakeholders allege.They say the "inappropriate" use of some...

Overhead train ride now on entire north-south route

Another milestone in communications is reached in Bangladesh with the Agargaon-Motijheel metro-rail mainline opening today for commuters to cross 20-kilometre corridor in 31 minutes on maiden electric train over crowded Dhaka.Prime Minister Sheikh Hasina is scheduled to ride a decorated...

Private univs also need govt funding

Universities are the top educational institutions that can lead the country in education and research. Bangladesh currently has 54 public universities and 112 private universities. Several other universities are awaiting approval.Of the 3.5 million students in higher education, only 9.0...

Poetry encrypted from soil, air, water and sunlight

This is mid-Kartik, the first month of the season Hemanta---the season of mist, the grey and sombre beauty of which needed a poet of Jibanananda Das's ilk to unravel in its myriad layers. Many like to wrongly equate the season...

Impact of inflation & stagnant wages on social and economic disparity

Caught in the whirlwind of escalating prices and stagnant paychecks, Bangladesh stands at the crossroads of economic disparity. The economy of Bangladesh currently faces a myriad of challenges, including a rising gap between inflation and wage rates. Living expenses are...

An outsize disgrace to human civilisation

In his seminal book, The Clash of Civilisations and the Remaking of World Order, Samuel Phillips Huntington warned of the danger of not recognising and respecting multicultural civilisations by the West led by the United States of America. The champions...

New law allows floating exchange rates for customs assessments

The new Customs Act-2023 recognises daily exchange rates of foreign currencies, or floating rates, ensuring transparency in customs assessments and transactions.This is in contrast to a fixed exchange rate, in which the government entirely or predominantly determines the rate.A floating...

Distractions all around learners

Students cannot concentrate on one topic for long due to the intervention or interference of mobile phones, internet, and social media. Now and then, young learners are unable to focus on their studies due to distractions from external sources. While...

Gaza, West Bank and a haemorrhaging UN

This is no war in Gaza. A war is always between two states. In Gaza, it is simply a matter of a powerful, nuclear-armed state pulverising a suffering, unarmed population into unending fear through unabashed military might. Those who believe...

Budget spadework begins early with polls ahead

Finance officials begin stocktaking of implementation status of the current budget and other economic parameters in early spadework on budgeting for next fiscal year, with the polls close by.The finance division Tuesday sent letters to the ministries and divisions concerned...

Multinational cos: Brand image, product quality help withstand upward cost pressure

Most of the listed multinational companies operating in the country witnessed higher profits and sales year-on-year in the nine months through September this year despite persistent economic challenges and inflationary pressures.Brand image and quality of products empowered them to withstand...

The road to jobs and dignity

Smiling brightly, Bedana Begum proudly points to her florescent orange safety vest. On the top right corner is a small but prominent detail that matters to her the most--the Government of Bangladesh logo. "This jacket is more than just a...

BTRC drafts broadband policy

The telecom regulator, BTRC, has drafted the 'National Broadband Policy 2023' with an eye to helping Bangladesh grow as an advanced digital economy and society.The policy aims at universal access to state-of-the-art, high-capacity broadband networks, services, technology platforms, devices and...