Cabinet sends back income tax law for further review

Government's revenue authority began redrafting a new income-tax law after its draft was returned by the cabinet for plugging the holes that may drain taxes. The National Board of Revenue (NBR) recently placed 'The Income Tax Law 2017' for cabinet...

The evolution of Malaysian palm oil industry

Malaysia is celebrating the first centenary of its palm oil industry. The first commercial oil palm plantation was established at Tennamaram Estate in Batang Berjuntai, Selangor, in 1917. Datuk Seri Mah Siew Keong, Minister of Plantation Industries and Commodities of...

Current floods and co-riparian cooperation

Bangladesh has been subjected to varying degrees of flooding since time immemorial. The people have been living here for generations by cultivating rice and other crops by adjusting with monsoon rainfall and flooding. Traditionally, over 95 per cent people used...

Apparel makers want major VAT waiver

The apex apparel body has sought massive value-added tax (VAT) waiver covering its 38 types of services, including consultancy charge, compliance-audit evaluation, and Corporate Social Responsibility (CSR) spending.According to a wish list, the services also include entertainment funds for workers...

Four domestic airlines owe Tk 25.45b to CAAB

Four domestic airlines owe Tk 25.45 billion to the Civil Aviation Authority of Bangladesh (CAAB) in arrear fees and charges.State-run Biman Bangladesh Airlines (BBA) and three other private airlines owe the money to the CAAB in the form of charges...

Seven banks suffer Tk 154b capital shortfall in Q2 alone

Seven banks, five owned by the government, suffered capital shortfalls worth nearly Tk 154 billion in the current calendar year's second quarter (Q2) alone.Two state-owned commercial banks (SoCBs) came out from the list of capital-deficient banks during April-June period of...

WB fears sizeable revenue deficit this fiscal year

The government's revenue shortfall during the current financial year (FY) might range between Tk 400 billion and Tk 450 billion, according to a World Bank (WB) projection. The government, however, fears a revenue shortfall of Tk 200 billion in FY...

Role of BCIM-EC initiatives

The Bangladesh-China-India-Myanmar (BCIM) economic connectivity forum for regional cooperation, well-known as Kunming Initiative, began its journey in August 1999 in the capital of China's south-western province of Yunnan province. After 14 years of intense dialogues and cooperation, the BCIM Forum...

Bangladesh: In search of sustainable development model

Often people face dilemma in distinguishing between economic growth and economic development. Economic growth can be described as sectoral growth in real national income, gross domestic product (GDP) or per capita income; economic development encompasses a larger area like literacy...

Sustaining RMG industry growth

The RMG industry has been at the helm of Bangladesh exports for over the years and a significant contributor to GDP. This industry has, till date, absorbed an estimated 4.4 million people, of whom 80 per cent are women, helping...

Affordable health insurance scheme for RMG workers in Bangladesh

SNV Netherlands Development Organisation piloted an inclusive business project in the readymade garment (RMG) industries of Bangladesh with funding support from The Embassy of the Kingdom of the Netherlands (EKN). The aim of the project is to test viable business...

Traditional physical security system and beyond for Bangladesh's garment & textile industry

Bangladesh has set an export target of USD 50 billion by 2021 for the readymade garment (RMG) sector. The target appears slightly ambitious and sceptical about its attainability after the Holy Artisan Bakery incident in 2016, following which many buyers...

How serious is it for Bangladesh's RMG export?

Export of 'Made in Bangladesh'-tagged garment items to the European Union (EU) or its duty-free access under a relaxed rule of origin unilaterally given by the EU through GSP for the LDCs may be facing risk of a temporary suspension....

BD willing to ink € 50m loan deal with France next month

Bangladesh is eager to sign a €50 million credit agreement with France to fund its garment factory remediation, officials have said."We expect to sign a loan agreement worth €50 million with France for upgradation of safety standards of the country's...

Collateral-based lending vs cash flow-based lending

Most of the bank lending in Bangladesh is backed by collaterals i.e. land or building. While considering to extend loan facility to the borrower, first question that comes to the mind of the banker is: what will be the security?...

Re-orienting NGOs

There are a few thousand non-governmental organisations (NGOs) spread across the country. Of these, about 700-800 fall under the Micro-credit Regulatory Authority (MRA). The Bangladesh NGO Foundation (BNF), a state-owned organisation, serves approximately 2,000 NGOs and provides grants to local...

Projection of adequate supply of sacrificial animals this year

The Department of Livestock has estimated availability of more than 10 million animals for sacrifice during Eid-ul-Azha this year. The Department is of the view that there will be no shortage of sacrificial animals. Traders are, however, apprehending shortage of...

Policy support needed to ensure easy access to LP gas

Mohammed Saidul Islam Government policy support is necessary for easier and safer use of liquefied petroleum (LP) gas by households, motor vehicles and industries to cope with the increasing demand for gas, a top industry executive said Wednesday. "Though there...

Generation capacity up, but challenges remain

Bangladesh's overall electricity generation has currently reached to around 9,000 megawatt (MW) riding mostly on 'expensive' oil-fired power plants as low-cost power plants continued to delay in coming online.The major fall in oil prices in international market after 2012 proved...

Ministry agrees to start recruiting professionals for DMTC

The Ministry of Road Transport and Bridges (MoRT&B) has finally agreed to start recruiting dedicated professionals for the metro rail company amid pressure from the project's Japanese financier.Sources said a mission of Japan International Cooperation Agency (JICA) clearly informed the...

BB asks banks to keep ADCs open round the clock

The central bank has asked the commercial banks to ensure round-the-clock operation of alternative delivery channels (ADCs) during the upcoming Eid-ul-Azha holidays in order to facilitate smooth transactions. The ADCs include ATM (automated teller machine), POS (point of sale), e-payment...

Dhaka signs UN paperless trade agreement tomorrow

Bangladesh is going to sign a multilateral framework agreement on cross-border paperless trade tomorrow (Tuesday), which aims at reducing cost of doing business and making trading activities hassle-free, officials said.Commerce Minister Tofail Ahmed is scheduled to ink the deal in...

BD urges India to accept BSTI certification for 14 new items

Bangladesh has proposed India to accept Bangladesh Standards and Testing Institution (BSTI) certification for 14 new products to ensure their hassle-free export, as the latter often refuses to recognise BSTI-issued certificates for local export items.The 14 products are - frozen...

Mechanism to settle foreign investors' disputes

Investor-state dispute settlement (ISDS) is a mechanism designed to protect interests of foreign investors. It provides the right to access an international tribunal against unfair or arbitrary treatment by foreign governments in whose countries the investors have invested. ISDS is...

Justice M A Karim—a principled person

Not everyone becomes a celebrity. There are great people who don't educe envy in people's mind by their greatness. They have a lot of knowledge, they work day and night. But they like to remain silent and hate to boast...

SoBs' lingering NPL saga

Finance Minister AMA Muhith's observation that bankers are deliberately trying to turn the borrowers into defaulters with a view to bringing the latter under their control would be greeted with certain degree of scepticism in the country's banking circle. Mr...

Incomplete work on bridge over Surma to resume soon

SYLHET, Aug 26: At last, the incomplete work on the much-desired bridge over Surma river at Chhatak in Sunamganj would be resumed soon. Work orders were issued on Thursday last by the authorities of the Roads and Highways Department (RHD)....

Special launch services from Tuesday

Special launch services will start from Tuesday to facilitate smooth journey of homebound passengers ahead of Eid-ul-Azha, officials said. Earlier, the launch owners had decided to operate the special services from today (Sunday).Due to shortage of passengers now, they shifted...

Bank lending to microfinanciers makes quantum leap as donors take back seat

Bank lending to the country's microfinance institutions (MFIs) has been on the rise for straight six years, thanks to availability of funds in the banks, and minimum default rate.Lower interest rates in banks compared with those charged by microfinanciers also...

Most banks hold adequate liquidity to meet pressure ahead of Eid

A moderate demand for the local currency is likely to be created in the money market this week ahead of the Eid-ul-Azha despite continuation of lower inter-bank call money rates, market operators said.The call rate ranged between 1.80 per cent...