Sixth Plan eyes Bangladesh a middle-income country by 2021
Thursday, 02 September 2010 21:19
http://www.theindependentbd.com/business/finance/7870-sixth-plan-eyes-bangladesh-a-middle-income-country-by-2021.html
Sixth Plan eyes Bangladesh a middle-income country by 2021
JAGARAN CHAKMA
The sixth five year plan is going to set a total of 16 core targets for economic growth, employment, poverty reduction, human resources development, gender balance and environmental protection. If the targets are achieved, the socio- economic environment of the country will transform it from a low-income economy to the first stages of middle- income country.
Along with higher per capita income, the Vision 2021 projects a development scenario, where citizens will have a higher standard of living, better education, having social justice with more equitable socio-economic environment and the sustainability of development will be ensured through better protection from climate change and natural disasters, the draft said. Explaining the strategy of the plan, it said that an essential pre-requisite for rapid reduction of poverty was to attain a high economic growth, ensuring sustainable productive employment and incomes for a large number of people in Bangladesh.
The growth-employment-poverty reduction linkage will be ensured by focusing on labour intensive urban and rural manufacturing production, based on domestic and export markets and organised services, the draft added.
The productivity will be improved through adaptation of new technology based on strategic partnership with foreign investment and implantation of better Information and Communication Technology, the draft plan visualises.
The access of the poor to essential services like health, education, nutrition water supply and sanitation will be substantially expanded along with effort to increase access to key production inputs like irrigated water, fertilizer, electricity, rural roads and institutional finance.
The sixth plan will support equal opportunities for women in all section of the society with an objective of integrating them better into the social and economic sphere.
The governance improvement strategy will focus on ensuring the equality of opportunity, personal freedom and dignity, ensuring the role of law, improving delivery of basic services, capacity building in key public entities, and adoption of electronic governance.
To achieve 8 per cent growth by 2015 the government will emphasise on manufacturing and organised services. Increasing the growth rate to 8 per cent by the end of plan period will require the investment rate to increase from 24 per cent of GDP of 32 per cent.
It said that much of the higher investment would be deployed to reduce the infrastructure constraint and human development.
It will promote diversification in agriculture by emphasising incentives, research and extension, rural infrastructure and rural finance and it will focus on promoting rural and urban manufacturing production based on domestic and export markets.
The plan will focus on removing the constraints through massive investment in power and transports through better efficiency and demand management and through energy trade with neighbours.
To achieve the objective of a rapid increase in tax revenue and reduce dependence on trade taxes it envisages fundamental reforms in the tax laws and modernization of tax administration.
The plan will emphasise on equity, better service delivery through improvement in governance and management, improving education financing. including a significant increase in public funding as a share of GDP and promoting public-private partnership in education.
About the population, health and nutrition, the plan provides importance to equity and gender balance in the distribution of health care services, strengthening private sector role and ensuring accountability as well as strengthening partnerships with NGOs.
To mitigate the adverse consequences of climate change, the plan will explore collaboration with the international community.
The sixth five year plan will seek to address the income inequity, high income jobs, improving farm productivity and incomes to reduce poverty and safety net. The strategy will be to design and implement a range of social protection programmes that meets the needs of this under-privileged group.
Priority will be given to the implementation of e-governance through the Digital Bangladesh initiative to provide better and speedier service and to improve the transparency and accountability of public service agencies.
Besides, attention will be focused on developing and strengthening a number of core public institutions, including the central bank, the Ministry of Finance, the Tax Department, the Planning Commission, Audit and Accounts, the parliamentary sub-committees, land administration and the public utilities.
Major change in forex rule to boost ICT sector
Thursday, 02 September 2010 21:18
http://nation.ittefaq.com/issues/2010/09/03/news0361.htm
Major change in forex rule to boost ICT sector
BSS, Dhaka
Bangladesh Bank (BB) has brought a major change to the foreign exchange regulation to give a further boost to the country's growing ICT sector.
The change allows ICT firms and software developers remit US $10,000 per year for their business purpose without prior permission from the central bank.
A BB circular issued on Thursday said the ICT and software firms would remit the stipulated amount through authorized dealer (AD) for visiting abroad, participating in export fairs and seminars, establishing and maintaining offices abroad and importing raw materials, machinery and spares.
Currently, there is no such facility for the ICT and software firms.
BB Governor Dr Atiur Rahman told BSS that the change was brought in line with the government's vision for Digital Bangladesh.
He said apparently this is a small step, but it is significant for the development of the ICT sector.
Shameem Ahsan, Chairman of the Standing Committee on Export Facilitation of the Bangladesh Association of Software and Information Services (BASIS), termed the change as a very positive approach to the development of the ICT sector.
He said the ICT firms would now be able to expand their businesses beyond border and could strengthen their capacity without going through hassles of earlier tight regulation.
Ahsan said the change also create a bigger scope for expanding e-commerce, which would voluminously increase net-based trading of Bangladeshi goods.
He explained that under the relaxed foreign exchange regulation, ICT firms could easily remit enough green bucks for their business expansion abroad, which would eventually increase transaction of local goods and products through internet.
According to the circular, ICT and software firms with the recommendation of BASIS will get an International Card (IC) from an AD initially loaded with US $1,000. The card may be refilled for another US $1,000 each time until the quota is fulfilled.
Four-storey primary schools proposed in rural areas
Thursday, 02 September 2010 21:17
http://www.bssnews.net/newsDetails.php?cat=0&id=129708&date=2010-09-02
Four-storey primary schools proposed in rural areas
DHAKA, Sept 2 (BSS) - The Parliamentary standing committee on the Ministry of primary and mass education today proposed for building four-storey primary schools in the rural areas to offset the existing classroom crises across the country.
The committee also proposed for constructing five-storey school buildings at upazila level and six-storey school buildings at district level for better accommodation of students in classrooms, said an official handout.
The proposal came at the 10th meeting of the standing committee held at the Jatiya Sangsad Bhaban with committee chairman Dewan Farid Gazi in the chair.
Committee members, Primary and Mass Education Minister Mohammad Afsarul Amin, State Minister for Primary and Mass Education Mohammad Motahar Hossain, Mohammad Atiur Rahman Atique, Nazim Uddin Ahmed, Afazuddin Ahmed, Abdul Mannan, Talukder Mohammad Yunus, Principal Khadiza Khatun Shefali and Zobeda Khatun attended the meeting.
Discussing elaborately on the progress of different projects under the ministry, the committee members suggested separate budgetary allocation for the primary and mass education in future, with higher allocation for the overall education sector.
The meeting decided to discuss the issue of nationalization of registered and community primary schools of the country in the next committee meeting.
An investigative report on the dismal results of the NGO-run elementary schools was submitted to the committee and a discussion on the report would be held in the next committee meeting.
Bangladesh with around 80,000 primary schools are serving more than 17.6 million children aged generally between 6 and 10 years. The net enrollment over 85 percent in primary schools has marked a tremendous success over the last decade, but has put massive pressure on the existing schools to accommodate all kids in classrooms.
China mobile makers upbeat on Bangladesh
Thursday, 02 September 2010 21:16
http://www.thedailystar.net/newDesign/news-details.php?nid=153384
China mobile makers upbeat on Bangladesh
Star Business Report
Chinese mobile makers are upbeat on Bangladesh as a large segment of the low-income group is increasingly using the communication gadget.
Windy Hou Ziliang, head of terminal department of Huawei technology, expressed optimism at a three-day mobile fair that started yesterday at Bangabandhu International Conference Centre.
The event has been co-organised by South Asia Mobile Forum (SAMF) and Bangladesh Mobile Phone Importers Association.
“Until recently, we have been engaged in network business solely. Now we are trying to focus on the mobile phone market as we are producing quality, yet low-priced cell phones," Ziliang said.
He also explained the reason behind his participation in the fair that his company wants to make its different cell phones known to the Bangladeshi customers.
Mehboob Chowdhury, chairman of SAMF, who inaugurated the fair, said the objective of the fair was to present the latest mobile technology to local customers.
Mobile phone makers and distributors from China and Bangladesh showcased their products at the fair.
ZTE, the gold sponsor of the fair, brings along a new solar powered handset for the customers.
Citycell, the title sponsor of the fair, offered new modems for its Zoom internet connection on discount. It also offers a laptop and modem package priced for Tk 23, 900.
Seven mobile makers and exporters are participating in the fair.
The entry fee is Tk 20 and the organisers have arranged a raffle draw on the entry tickets to the fair, which is open to visitors from 10am to 8pm.
77,590 tonnes Aus rice produced in Rangpur Agriculture Zone
Thursday, 02 September 2010 21:15
http://www.bssnews.net/newsDetails.php?cat=0&id=129685&date=2010-09-02
77,590 tonnes Aus rice produced in Rangpur Agriculture Zone
RANGPUR, Sept 2 (BSS) - The farmers already completed harvest of Aus paddy producing a total of 77,590 tonnes clean rice this season in Rangpur Agriculture Zone (RAZ), officials in the Department of Agriculture Extension (DAE) said today.
Following government subsidies and huge motivational activities conducted by the DAE, the farmers had cultivated the short duration Aus paddies in a total of 27,328 hectares land this year against 18,101 hectares last season in the zone.
This year, the farmers produced a total of 77,590 tonnes Aus rice against last year's total production of 49,538 tonnes in all eight districts in the zone.
Additional Director (AD) of the DAE Mohsin Ali of RAZ today told BSS that Aus paddy farming has been increased significantly in the zone this season with a view to produce more rice under changed climatic conditions to ensure food security.
The DAE sources informed that the farmers brought a total of 27,177 hectares land under high yielding, hybrid variety Aus farming, and another 151 hectares under local variety farming this time in the zone.
"The average yield rate of Aus crop in term of clean rice stood at 2.84 tonnes per hectare this year and the yield rate is highly satisfactory to encourage the farmers for its expanded farming in future," the DAE's AD said.
The farmers mainly cultivated high yielding varieties like BRRI dhan 28, 29, 45, BR-1, 14, 21, 26, Parija, hybrid varieties like Hira, Jagoron, Aloron, Tiya, ACI, Sonar Bangla, Moyna and local varieties like Purbashi, Pousha, Hasi Kalmi and Kataktara paddies.
Under the programme, the farmers brought 11,170 hectares land under Aus farming to produce 36,879 tonnes rice in Rangpur, 65 hectares to produce 120 tonnes in Gaibandha, 3,750 hectares to produce 9,750 tonnes in Lalmonirhat and 110 hectares to produce 303 tonnes rice in Nilphamari districts.
Besides, the farmers produced 24,879 tonnes Aus rice from 10,113 hectares land in Dinajpur, 5,191 tonnes rice from 1,865 hectares land in Thakurgaon and 498 tonnes rice from 255 hectares land in Kurigram under the RAZ this season, the DAE officials said.
Online tax return on trial
Thursday, 02 September 2010 21:13
http://www.thedailystar.net/newDesign/news-details.php?nid=153403
Online tax return on trial
Rejaul Karim Byron
About 40,000 individual taxpayers of Dhaka will be able to submit their tax returns online from Sunday.
As part of the master plan to bring all taxpayers under an online return submission system, it is initially being introduced in tax zone-8.
Finance Minister AMA Muhith will formally open the system.
Tax zone-8 Commissioner Kalipada Halder told The Daily Star that the introduction would be on an experimental basis. In future, e-payment systems will also be introduced for the taxpayers.
In tax zone-8, doctors, chartered accountants, lawyers, architects and the taxpayers in Gulshan and Banani are included.
The National Board of Revenue (NBR) officials said they selected this tax zone initially, as almost all the taxpayers of this zone are educated to some extent.
The official also said to submit tax returns online, a taxpayer needs to have a minimum level of computer literacy.
He said taxpayers could submit their tax returns from home or even abroad. Each taxpayer will have a personal identification number (PIN). The taxpayers will visit the website of tax zone-8 and use the PIN to access their accounts.
The taxpayer will also get information on his tax status.
Although this payment system will not be introduced right now, a taxpayer can send his pay order number online and send the pay order to the tax-zone office by post or any other means later.
The taxpayer would be spared going through the hassles in submitting tax returns personally.
Halder said taxpayers may face some problems initially. If the payer makes a mistake in submitting the returns online in the initial stage, they will get a scope to make corrections later.
The tax commissioner also said there will be a service centre with trained personnel on the ground floor of the office.
If taxpayers need assistance, they can go to the centre and submit returns with the assistance of the staff and also learn the process at the same time.
NBR officials said the software to submit returns online was developed by some local innovative software developers.
He said NBR did not take any donor fund or hire any foreign software firm for the purpose.
However, the problem is that no IT personnel has been appointed in tax zone-8. As a result, the system may fall into a crisis if they face a technological problem once it starts functioning.
An official of the zone said some IT staff members should be appointed there soon.
At an individual level, this is the first time that online return submission is going to take place. At present, there is a scope for that in the Large Taxpayer Unit (LTU) at company level.
The introduction of e-payment alongside online tax return submission would not be possible unless Bangladesh Bank, commercial banks and the finance division are not brought under a detailed online network.
NBR and other organisations are working in this regard. Its introduction may be possible soon but no deadline has yet been fixed.
Indian brands eye shirt imports from Bangladesh
Wednesday, 01 September 2010 21:31
http://www.newagebd.com/2010/sep/02/busi.html#2
Indian brands eye shirt imports from Bangladesh
A file photo shows garment workers are busy in a factory in Dhaka. Some Indian brands are eying import of shirts from Bangladesh as local suppliers can offer competitive prices and quality. — New Age photo
Kazi Azizul Islam
Some Indian brands are eying import of shirts from Bangladesh as local suppliers can offer competitive prices and quality.
Sources at the Bangladesh Garment Manufacturers and Exporters’ Association said Rs 1,500-crore NSL Textile, which is launching menswear brand Constello, had started talks with several garment manufacturers in Bangladesh.
‘Several Indian brands, including NSL, are exploring tie-ups with garment-makers in Bangladesh by brining fabrics from India,’ a BGMEA official told New Age.
Former BGMEA president Anwar Ul Alam Chowdhury said for years Indian brands had been interested in buying formal shirts and trousers from Bangladesh but some import hassles discouraged them.
Parvez said as Bangladeshi export industry enjoys duty-free imports of fabrics, there is attraction for Indian brands for importing Bangladeshi shirts made of imported blended and non-cotton fabrics, where Indian Industry has less strength.
‘India is a huge market. Moreover, brands there are interested about Bangladeshi garments. If the government works with Indian authorities to remove para-tariff barriers including unnecessary delays in clearing shipments, Bangladesh’s garment exports to India will boost,’ said Parvez.
Latest report of the Export Promotion Bureau, meantime, shows that Bangladesh garment exports to India has started increasing in recent times.
Industry sources told New Age that exports of certain quantity of duty-free garments are gaining markets in Indian. Indian importers are procuring shirts and blouses using duty-free quota.
In the fiscal year 2009-10, ended in June, garments export to India amounted to $13 million with an 18 per cent growth over the year. Two years back, in 2007-08 fiscal year, garment exports to India was less than $5 million.
‘Still Bangladesh’s garment export to India is very tiny if compared to the $12.5 billion worth of annual garment shipments that mainly destined to US and EU markets. But India’s potential is huge,’ said Parvez.
Indian domestic apparel market is worth $35 billion with $2-billion market for shirts.
Bangladeshi shirts makers can take a significant pie there as they have decades of experiences in catering western brands like Wal-Mart, H&M and JC Penney.
Myanmar set to build hydropower plants targeting B'desh
Wednesday, 01 September 2010 21:30
http://www.thefinancialexpress-bd.com/more.php?news_id=110954&date=2010-09-02
Myanmar set to build hydropower plants targeting B'desh
Cross-border power trade envisaged
M Azizur Rahman
Myanmar has agreed to build two hydropower plants aimed at exporting around 575 megawatts (mw) of electricity to energy-starved Bangladesh, top officials said Tuesday.
A high-powered Bangladesh delegation received Myanmar's consent over cross-border electricity trade during its recent visit to the country, said a senior power ministry official.
He said a Myanmar delegation would visit Dhaka shortly to sign a memorandum of understanding (MoU) on the electricity trade between the two neighbouring countries.
Before signing the final deal, Myanmar has sought power purchase guarantee from Bangladesh, said the official, also a member of the delegation that visited Myanmar last week.
The delegation included top officials from the power ministry and Power Development Board (PDB).
The power plants having the electricity generation capacity of 500mw and 75mw respectively have been planned to be installed at Michuang and Lemro areas under Rakhine state in Myanmar, which are close to Bangladesh's Cox's Bazar.
Shwe Taung Development Company, a Myanmar company, has already tied up with a Chinese firm to build these power plants targeting to export the output to Bangladesh.
It has already got lease of land in the Rakhine state to set up the power plants.
Officials said after signing power transmission deal with the neighbouring India, Bangladesh has approached Myanmar to import electricity under similar arrangements.
Bangladesh never dealt in electricity with overseas countries before.
The country's unprecedented electricity crisis has pushed the government to adopt multi-pronged strategy ranging from diversifying of fuel sources to import of electricity to ease the mounting electricity demand.
Bangladesh has already inked a 35-year deal with India to initiate importing around 250mw of electricity from India by 2012 under cross-border electricity trade.
Electricity import from India would pick up to 500mw after 2012. India would also take electricity from Bangladesh, if necessary, under the deal.
Bangladesh is now reeling under an acute electricity and gas crisis with the electricity generation hovering around 4200mw against the demand for over 6000mw and gas output at around 1980 million cubic feet per day (mmcfd) against the demand for over 2300 mmcfd.
It has closed operation of four major gas guzzling fertiliser factories making room for generating electricity from gas-based power plants as more than 80 per cent of the country's power plants are based on gas.
Compressed Natural Gas (CNG) filling stations have been put to halt for six hours daily for the first time in the country to ensure smooth gas supplies to power plants.
The power ministry has distributed 5.5 million compact fluorescent lights (CFLs) free of cost across the country in June this year to reduce electricity consumption.
Businessmen, especially the shop and mall owners, have been asked to maintain the maximum austerity in electricity consumption with restriction on air-conditioner use.
Holiday staggering in industries is still continuing with halt to new connections both for natural gas and electricity.
The country's hectic economic activities have sky-rocketed energy demands over the past two years.
The government has targeted to produce additional 10,000mw electricity by 2014.
Investment shows strong rebound
Wednesday, 01 September 2010 00:47
http://www.thedailystar.net/newDesign/news-details.php?nid=153108
Investment shows strong rebound
Rejaul Karim Byron
Investment in the country is on the rebound, according to various bank credit information. Bankers said the rise was mainly because of an expansion of the existing factories, increased SME loans and rental power.
Bankers said existing industries are taking out loans to expand operations and install generators to tackle the power crunch because the government suspended giving new gas and power connections.
According to Bangladesh Bank, capital machinery imports increased by only four percent in the last fiscal year, while the letters of credit (L/C) opened to import machinery went up by about 54 percent.
Even though the import of industrial raw materials decreased but the number of L/C opened increased by 18 percent.
This is a sign that investment and industrial production will rise this fiscal year.
Looking at an industry-wise breakdown, the L/C opened for capital machinery in jute increased by 222 percent, leather by 902 percent, textiles by 42 percent, garments by 31 percent, pharmaceuticals by 129 percent and plastic by 131 percent.
Last fiscal year, industrial term loan disbursement rose by 30 percent, which fell in the previous fiscal year.
Total industrial term loan disbursement was Tk 25,875 crore in the last fiscal year, which was Tk 19,972 crore the year before.
A stagnant situation prevailed in the market for the last two to three years because of global recession on one hand, and political uncertainty on the other.
Recent indicators show that the situation is picking up in the industrial sector, but bankers say if the government cannot quickly improve the gas and power scenario, it will be difficult to hold on to the rising trend.
Krishi Bank Chairman Khondker Ibrahim Khaled told The Daily Star that the economy is taking off but if the electricity and gas problems cannot be solved, sustaining development will be difficult.
He said the finance minister has allowed duty-free import of captive power generators, resulting in an increase in its imports, which the banks are financing.
Khaled also said the banks' investment in rental power is also increasing.
Janata Bank Managing Director (MD) SM Aminur Rahman said the bank alone invested about Tk 170 crore in four rental power stations. He said the increase in loans was mainly to fund modernisation and expansion of the existing industries.
According to Bangladesh Bank statistics, 80 percent of the total outstanding loans till March are SME loans. In March, SME loans increased by about 17 percent compared to the same period in the last fiscal year.
The Janata MD also said investment would have gone up by four to five times if there was no gas and power crisis.
61.854m using mobile network: BTRC
Wednesday, 01 September 2010 00:46
http://www.theindependentbd.com/business/others/7465-61854m-using-mobile-network-btrc.html
61.854m using mobile network: BTRC
MD AKRAM HOSSAIN
About 38 per cent population of Bangladesh are using mobile network, according to an official data.
Bangladesh Telecommunication Regulatory Commission (BTRC) statistics showed in July that 61.854 million Bangladeshis are under six mobile phone operator's network.
According to BTRC, the total number of the country's cell phone subscribers has reached at 61.845 million at the end of July 2010 and added 13.875 million new users, about 28.92 per cent increase, from the same period of the previous year.
The statistics showed that country's six mobile phone operators provided 13.875 million new connections to the Bangladeshis from July 09 to July 10 whereas 9.415 million connections were provided during the first seven months of this year. BTRC official data showed, Grameenphone is holding top position by reaching at 27.276 million subscribers and highly connected 6.126 million people among other mobile phone operators from July 09 to July 10.
Reaching at total 16.804 million Banglalink is in the second position, added 5.534 million new subscribers, about 49 per cent increase from the previous year. Robi, formerly known as Aktel, is holding 11.326 million subscribers and it newly brought total 1.426 million people under its network services. Besides, Warid telecom was able to connect 0.686 million people from July 09 to July 10 and providing its services to 3.296 million people right now.
Meanwhile, Citycell is the only provider of CDMA service across the country and the first mobile phone operator which has connected only 1.147 million subscribers till July 2010. But Teletalk, a government owned organisation, is in the last position among the existing operators as it holds only 1.147 million subscribers, statistics showed.
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