EPB looks to reach beyond garment

The state-run Export Promotion Bureau (EPB) is likely to issue automated generalised system of preference certificates for sectors beyond the apparel industry, officials said. "So far, we've been issuing GSP certificates only for the readymade garment (RMG) exports destined to...

Plastic-made equipment used in agri sector getting popular

Plastic-made tools used in agricultural sector are getting popular in the country for their quality and potential to reduce pre- and post-harvest losses and availability at competitive prices. This was evident from interviews of the FE correspondent with a number...

NBR to frame strategies to achieve revenue collection target

The National Board of Revenue (NBR) has instructed its field-offices to strengthen audit of income tax files, intensify survey of new taxpayers and frame strategies to achieve revenue collection target. The instructions came following the review of trend of revenue...

Bankers fear rise in NPLs in Q1

Country's overall business activities experienced a sluggish trend recently following the ongoing political turmoil that may hit the performance of the banks, bankers said. They also feared that the amount of non-performing loans (NPLs) might increase in the first quarter...

One can go to court under tougher new law

A tougher new law takes effect from 1st February under which anyone may be jailed for maximum 5 years or fined up to Tk 2 million for adulteration of food.    Officials said the Ministry of Food issued a gazette notification...

Bounteous incentives for PPP projects on cards

The government is processing a bounteous package of incentives to attract private-sector investment under the public-private partnership (PPP) initiative -- the latest paradigm for bankrolling large development projects. Official sources said the incentive package would be offered on several counts,...

Bangladesh-India trade: Handicap of non-tariff measures

Based on information contained in recent Trade Policy Reviews (TPRs) of South Asian countries, a WTO assessment states that, in general, SPS and TBT measures in South Asia did not always adhere to WTO obligations. The report noted that some...

Preventing violence against adolescent girls

Violence against adolescent girls has become a global problem. In both the developed and developing countries, hundreds of thousands of girls continue to live with violence in their homes, schools and communities. A recently published UNICEF report says that 'worldwide...

Employment injury insurance: A boon for the workers

Employment Injury Insurance Programme (EIIP) is an insurance mechanism for providing financial benefits to employees injured in workplaces during the tenure of employment. This insurance, in essence, covers physical injuries, accidental deaths and occupational diseases. The EIIP can do more...

Uncertainty looms large over new VAT law

The new VAT (value added tax) law, adopted by the immediate past parliament in November, 2012, was designed to be enforced from the first day of next fiscal (2015-16). Indications are that it is unlikely to happen. The National Board...

Large borrowers of term loans can take 12 years to repay the money

Borrowers of outstanding bank loans worth minimum Tk 5.0 billion can now take maximum 12 years to repay the money in case of term credits under a new policy on large loan restructuring. The policy was approved at a meeting...

Shelved Dhaka-Ashulia highway upgrading project being revived

The Roads and Highways Department (RHD) has now made a move to revive a shelved project on upgrading the busy Dhaka-Ashulia highway to a four-lane one.    Officials said the initiative came in view of hurdles that may crop up during...

State-owned banks, ICB to extend loan facilities

The government has decided to extend prioritised loan facility from EEF (Equity and Entrepreneurship Fund) to prawn farming in fresh water and milk production aiming to patronise the sectors, officials said. It has also decided to increase loan facility from...

Trade regulations and trade facilitation challenge

Trade has been the engine of growth and prosperity for much of the world since the end of the Second World War. Trade has also been a boon to the Bangladesh economy particularly since the launching of extensive liberalisation of...

Ecosystem and natural disasters

Sea-level rise is being considered one of the adverse impacts of global climate change but is not being discussed extensively. It could be due to lack of sufficient information regarding impacts of a sea-level rise. Dr Mahabub Hossain can be...

Cash incentives on some export items to be cut from next FY

The government is likely to reduce the rates of cash incentive/subsidy facility on a good number of export items from next fiscal year (FY), officials said. "The initiative has been taken to bring some potential and diversified export items under...

Drug testing lab limping due to fund crisis

The Drug Testing Laboratory (DTL) located at Mohakhali in the city is facing severe financial problem due to its dependence on the Institute of Public Health (IPH) for funding, officials said. The laboratory, the only state-owned entity responsible for maintaining...

Needed: Enabling regulations and enforcement

The high transaction costs in key areas of policy making affecting business decision even after significant deregulation since the 1990s are indicative of an important aspect of the weakness of the private sector regulatory environment that has not received adequate...

The demand for fresh poll: A dilemma

The demand for a fresh poll has taken a dramatic turn in our politics. The opposition is constantly demanding a fresh poll that will ensure fair and spontaneous participation of all parities. But the question is: why do we need...

Plastic recycling: A new prospective industrial sector in Bangladesh

Bangladesh does not have any polymer industry. Despite having abundant natural gas it is deficient in raw materials for polymer production. All virgin polymers are imported. As such, there is a rapidly growing incentive to recycle plastic waste, which is...

Job bonanza for young girls at DITF

The ongoing trade fair has come as blessings for thousands of young girls, mostly students, helping them to savour the taste of job world even before graduation. The Dhaka International Trade Fair (DITF) 2015, which has already got a 10-day...

Comply with KYC rules in 10 days

The central bank has asked the banks providing mobile financial services (MFS) to comply with KYC (Know Your Customer) rules within 10 working days, officials said. The directive was given at a meeting of chief executive officers (CEOs) of mobile...

Political troubles impede execution of dev projects

A marathon countrywide blockade has slowed down development works in the country for the disruption caused to transportation of construction materials. The problem has given rise to concern among the policymakers about achieving the ADP-implementation target. Sources said the Roads...

UGC for raising tuition fees, other charges in public varsities

The university regulator, UGC, has put forward a 30-point recommendation including hike in regular academic fees and related charges of the public university students to ensure state of art schooling for the prospective graduates. The recommendations also include increasing budgetary...

Emerging constraints to private investment

The analysis in Part-I suggests that the returns to good policies can be substantial.  But it also begs two questions:  First, why has the GDI (gross domestic income) response in Bangladesh has been sluggish in comparison with the dynamic Asian...

Why is no bomb attacker caught red-handed?

Desperate situation calls for desperate measures for its solution. The latest order coming from the law enforcement agency prohibiting pillion appears to be one such measure against bombing, particularly petrol bomb attacks on vehicles -either moving or stationary. Evidently the...

Should there be a cap on private foreign borrowing?

Access of local investors and entrepreneurs to international financial markets is a recent phenomenon. Since 2008, when limited access was granted to overseas funds, foreign loans worth $5.5 billion have been approved by the government. Initially, local investors were hesitant...

New heir to Saudi throne is relatively liberal outsider

Saudi Arabia's new Crown Prince Muqrin represents the biggest break from the kingdom's tradition of any of his predecessors in the role - both because of his lowly maternal birth and his foreign education. Seen as a relative progressive in...

Sri Lanka softens its stance on China port city deal

Sri Lanka's new government said on Thursday it might renegotiate a $1.5 billion "port city" deal with China Communications Construction Co Ltd, softening its pre-election threat to scrap the project. New Prime Minister Ranil Wickremesinghe, before last month's presidential vote,...

After wave of QE, onus shifts to leaders to boost economy

Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on January 24. Two days after the...