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Retail VAT collection flops on EFD setback

DOULOT AKTER MALA | 2024-08-23 00:00:00

Collection of VAT falters as the revenue authority may discard its plan to install Electronic Fiscal Device (EFD) in retail outlets countrywide following alleged noncompliance by the third-party contractor.This happens to be a second time in a row the National...

Exchanges left dysfunctional without independent directors

MOHAMMAD MUFAZZAL | 2024-08-23 00:00:00

The removal of independent directors from the boards of both the exchanges has been impeding regular operations and made it nearly impossible to form new boards in line with the stipulated rules.The independent directors of both the Dhaka and Chittagong...

A people's revolution in BD led by Generation-Z

Helal Uddin Ahmed | 2024-08-23 00:00:00

A miracle has happened in Bangladesh within a period of just 36 days – from July 1 to August 5. And the heroes of this people’s revolution that took place on August 5 were undoubtedly the segment of population known...

Breaking up oligopoly in poultry industry

Atiqul Kabir Tuhin | 2024-08-22 12:00:00

At a time when food security is severely under threat, with low and middle-income people forced to cut one essential item after another from their diet due to skyrocketing prices, the fact that a handful of big companies are manipulating...

Bridges Div counts Tk 1.2b in losses

MUNIMA SULTANA | 2024-08-22 00:00:00

The Bridges Division has estimated damages to assets at Tk 1.2 billion, including Tk 650 million for torching 57 vehicles, during the student-led quota-reform movement on July 19.An enquiry committee earlier formed to assess the loss submitted a report to...

Tycoons under hunt for suspected huge tax-dodging

DOULOT AKTER MALA | 2024-08-22 00:00:00

Five big shots are currently under scanner to dig out alleged tax evasion by the individuals and their associate businesses as the revenue intelligence cracks down following the regime change.Sources say the Central Intelligence Cell (CIC) of the National Board...

Whitepaper on state of economy to be published

SYFUL ISLAM | 2024-08-22 00:00:00

A "whitepaper" unveiling the state of economy in six priority areas, including public finance, inflation, and food management, will be published following a decision of the interim government's advisory council.To be published in next ninety days, the whitepaper will portray...

How big is the challenge of loan recovery from S Alam Group?

Mohammad Mufazzal and Farhan Fardaus | 2024-08-22 00:00:00

S Alam Group and its associates took out loans from Islami Bank ten times its equity whereas a single party or group should not be given more than 25 per cent of a bank's capital in loans. The Bangladesh Bank...

Buddhadeb & the literary politician

Syed Badrul Ahsan | 2024-08-22 00:00:00

The passing of Buddhadeb Bhattacharjee earlier this month brings to an end the career of not just a Marxist politician but also an individual whose grasp of literature was the envy of many across the political spectrum. Bhattacharjee, a humble...

Ctg yet to get rid of waterlogging

NAZIMUDDIN SHYAMOL | 2024-08-21 00:00:00

CHATTOGRAM, Aug 20: The inhabitants of the port city here are still suffering from waterlogging during rainy season despite multiple government schemes to address the problem for good.The government undertook several projects in 2018 with an eye to relieving the...

Metro team starts work on maintenance finally

MUNIMA SULTANA | 2024-08-21 00:00:00

The metro rail's operation and maintenance team has finally joined work as they withdrew strike on Tuesday, thus giving signs of resuming train movement on the Uttara-Motijheel route from Sunday."We have joined work as the prime demand for addressing pay...

Legal reforms needed to allow bourses to sell brokers' assets

MOHAMMAD MUFAZZAL | 2024-08-21 00:00:00

The exchanges do not have the legal right to sell stakes of brokers in their custody when it comes to settling claims of investors who have fallen victim to financial frauds committed by the intermediaries.That is one major factor as...

Educating boys to respect women

KHALID SAIFULLAH KHAN | 2024-08-21 00:00:00

With the recent Moumita Debnath case in Kolkata, once again, people are being vocal about 'consent.' While students gather to express solidarity with the Kolkata protest, arguments, counter-arguments, and even memes are floating around on social media about this issue....

Hidden benefits of a well-organised home

NOWSHABA ACHAL | 2024-08-21 00:00:00

Beyond mere aesthetics, a neat, clean, and well-decorated house is essential to a diverse and satisfying existence. Our living environments significantly influence our everyday emotions, thoughts, and behaviours. Our houses serve as a comfort zone where we unwind, spend time...

Rising out-of-pocket health expenditure in Bangladesh

Hasnat M Alamgir | 2024-08-21 00:00:00

Reports from the Health Economics Unit of the Directorate General of Health Services under the Ministry of Health & Family Welfare of Bangladesh show that out-of-pocket health expenditure was 56 per cent in 1997 and increased to 62 per cent...

Chattogram port upholds same 67th slot on Lloyd's

NAZIMUDDIN SHYAMOL | 2024-08-20 00:00:00

CHATTOGRAM, Aug 19: Chittagong port has upheld the position of the 67th busiest container port among 100 top ports globally this year, according to the latest Lloyd's List.Last year too, the country's prime seaport occupied the same slot in the...

Summit pays Tk 100m to BTRC

ISMAIL HOSSAIN | 2024-08-20 00:00:00

Summit Communica-tions has paid Tk 100 million to the telecoms regulator BTRC as share-transfer fee following the change of government.The previous authorities were planning to waive these fees and charges of share transfer and equity to Summit, according to BTRC...

E-com firms reluctant to obtain digital ID

REZAUL KARIM | 2024-08-20 00:00:00

Local e-commerce companies are reluctant to obtain digital business identification (DBID) because of technical and rules-related complexities, sources said.Only 2.0 per cent of e-commerce platforms under the e-Commerce Association of Bangladesh (e-CAB) have applied for DBID. Of the number, about...

NBR unfreezes Begum Zia's bank accounts

DOULOT AKTER MALA | 2024-08-20 00:00:00

The National Board of Revenue (NBR) has ordered the unfreezing of Khaleda Zia's bank accounts after 17 years on Monday, following directives from its newly appointed chairman after discussions with the Chief Adviser.Official sources stated that the Central Intelligence Cell...

How Beximco bondholders' fears turn into reality

BABUL BARMAN and FARHAN FARDAUS | 2024-08-20 00:00:00

Beximco was allowed to raise Tk 15 billion by issuing zero-coupon bonds in March this year though its financial performance showed signs of high default risks. Its profit in FY23 plunged 77 per cent year-on-year to Tk 7.1 billion and...

Showing August 5 revolution in bad light

Syed Fattahul Alim | 2024-08-20 00:00:00

The unarmed student-led mass upsurge that toppled the Sheikh Hasina government on August 5 stunned political observers everywhere. Appreciative of such an unprecedented movement by students of universities, colleges and even schools, most such observers are trying to comprehend the...

Brokers, issuers in limbo as securities regulator remains non-functional

MOHAMMAD MUFAZZAL | 2024-08-19 00:00:00

The securities regulator has been unable to function for nearly two weeks in absence of three key members -- two commissioners and chairman - keeping issuers and other stakeholders in limbo. Orders on issues that require approval of the commission...

Not committing mistakes set for correction

Neil Ray | 2024-08-19 00:00:00

The ugly incidents that happened on August 15 in areas around the now torched Bangabandhu Memorial Museum on Road No. 32, Dhanmondi have prompted one of the coordinators of the anti-discrimination movement to condemn those in unequivocal terms. Three other...

Preparation against mpox

Syed Fattahul Alim | 2024-08-19 00:00:00

Considering the upsurge of mpox in the Democratic Republic of Congo (DRC) and other African nations, the WHO Director-General (DG), Dr Tedros Adhanom Ghebreyesus on August 14 declared that it was a public health emergency of international concern (PHEIC). The...

Leaving America to rebuild BD

Tazrian Iqbal | 2024-08-18 00:00:00

The student quota movement of 2024 demonstrated that an establishment so out of touch with the rest of the population and seemingly with little empathy for their predicaments could not continue to govern. Evidently, a system where commotion reigned supreme...

CWASA water supply scheme coming online this year

NAZIMUDDIN SHYAMOL | 2024-08-18 00:00:00

CHATTOGRAM, Aug 17: Work on the ongoing water treatment project of the Chattogram Water Supply and Sewerage Authority (CWASA) is likely to be completed in the current year.As work is coming on fine, production at the 60-million-litre capacity Bhandal Jhuri...

Mob justice must not be condoned

Atiqul Kabir Tuhin | 2024-08-18 00:00:00

Recent media reports of escalating violence and mob brutality are deeply disturbing. The frequency of these incidents raises grave concerns about erosion of moral values and its potential to undermine the very foundation of a civilized society. It is not...

Cost of irresponsible journalism

Asjadul Kibria | 2024-08-18 00:00:00

Journalism is the best job in the world, asserted eminent Colombian writer Gabriel García Márquez some 27 years ago in an essay he wrote for Index on Censorship magazine. There are some valid reasons to differ with Marquez, and only...

Exports get costlier for airfreight hike

SYFUL ISLAM and YASIR WARDAD | 2024-08-17 00:00:00

Severe carrier-capacity crunch has further pushed up airfreight rates for cargo transport from Dhaka to Bangladesh's main export destinations, disrupting air shipments, stakeholders say. According to them, last month's political upheaval, which led to the formation of a new government,...

Four bypasses, flyover to be built on Ctg-Cox's Bazar highway

NAZIMUDDIN SHYAMOL | 2024-08-17 00:00:00

CHATTOGRAM, Aug 16: A project has been taken to construct four bypasses and a flyover at five important points on Chattogram-Cox's Bazar highway at a cost of Tk 80 billion (Tk8,000 crore).A loan agreement has been signed with the Japan...