Bangladesh
Sikder Group responds to allegations following ACC case against directors
Sikder Group, a prominent business conglomerate in Bangladesh, has issued a statement in response to various media reports regarding a case filed by the Anti-Corruption Commission (ACC) against its directors, Rick Haque Sikder and Ron Haque Sikder. The group alleges that certain vested interest groups are conspiring to tarnish its reputation by disseminating misleading information.
The statement highlights that the accusations, particularly concerning alleged money laundering involving National Bank's credit card, are unfounded. It clarifies that the Sikder Group directors lawfully utilized $9.83 million abroad through credit cards, subsequently settling the total amount, including $2.04 million in interest and charges, from their foreign earnings in accordance with Bangladesh Bank regulations. This matter was resolved two years prior, and the recent resurgence of these allegations is deemed to be maliciously motivated, the statement says.
Additionally, Sikder Group explains that the credit cards in question were linked to Foreign Currency (DC) accounts, which are exempt from the standard $12,000 travel quota limit.
Eid holiday: Trade activities through Benapole port to be suspended for 5 days
The conglomerate emphasizes its longstanding commitment to ethical business practices both domestically and internationally. Sikder Group, founded by Freedom Fighter Zainul Haque Sikder, has made significant contributions to Bangladesh's development sectors, including healthcare, education, and infrastructure, the statement says.
The group suggests that the malicious targeting has intensified following the death of its founder, Zainul Haque Sikder. It asserts that under the leadership of Rick Haque Sikder and Ron Haque Sikder, it has continued to achieve remarkable progress, despite ongoing attempts by detractors to hinder its growth. The statement condemns these actions, especially at a time when Sikder Group is endeavoring to secure foreign investment for key national projects, and calls on the public to disregard the baseless accusations circulated by these conspirators.
Urgent monetary reform, single exchange rate regime critical to improve foreign exchange reserves and ease inflation: World Bank
Bangladesh's economy made a strong turnaround from the COVID-19 pandemic, but the post-pandemic recovery continues to be disrupted by high inflation, a persistent balance of payments deficit, financial sector vulnerabilities, and global economic uncertainty, says the World Bank in its twice-yearly update.
Released today, the latest Bangladesh Development Update says that urgent monetary reform and a single exchange rate regime will be critical to improve foreign exchange reserves and ease inflation. Greater exchange rate flexibility would help restore balance between demand and supply in the foreign exchange market.
“Bangladesh’s strong macroeconomic fundamentals have helped the country overcome many past challenges,” said Abdoulaye Seck, World Bank Country Director for Bangladesh and Bhutan.
“Faster and bolder fiscal, financial sector, and monetary reforms can help Bangladesh to maintain macroeconomic stability and reaccelerate growth,” he added.
Structural reforms will be key to diversify the economy and build resilience over the medium and long term, including measures to raise government revenues to support investments in infrastructure and human capital, said the global lending agency.
Persistent inflation eroded consumer purchasing power, while investment was dampened by tight liquidity conditions, rising interest rates, import restrictions, and increased input costs stemming from upward revisions in administered energy prices.
Foreign Minister for concluding PTA with Indonesia
Private sector credit growth slowed further in FY24, reflecting a broader slowdown in investment.
The non-performing loan (NPL) ratio in the banking sector remains high and understates banking sector stress due to lax definitions and reporting standards, forbearance measures, and weak regulatory enforcement.
The balance of payments deficit moderated over the first half of FY24 driven by a surplus in the current account.
The report’s companion piece, the latest South Asia Development Update — Jobs for Resilience, also released today, says that South Asia is expected to remain the fastest-growing region in the world for the next two years, with growth projected to be 6.0% in 2024 and 6.1% in 2025.
Growth in South Asia is expected to be driven mainly by robust growth in India and Bangladesh, and recoveries in Pakistan and Sri Lanka.
But this strong outlook is deceptive, says the report. For most countries, growth is still below pre-pandemic levels and is reliant on public spending.
Persistent structural challenges threaten to undermine sustained growth, hindering the region’s ability to create jobs and respond to climate shocks.
Private investment growth has slowed sharply in all South Asian countries and the region is not creating enough jobs to keep pace with its rapidly increasing working-age population.
“South Asia’s growth prospects remain bright in the short run, but fragile fiscal positions and increasing climate shocks are dark clouds on the horizon,” said Martin Raiser, World Bank Vice President for South Asia.
“To make growth more resilient, countries need to adopt policies to boost private investment and strengthen employment growth.”
Saima Wazed, Princess Dechen Yangzom Wangchuck launch Bhutanese version of Bangabandhu’s ‘Unfinished Memoirs’
South Asia’s working-age population growth has exceeded than that in other developing country regions.
The share of the employed working-age population has been declining since 2000 and is low.
In 2023, the employment ratio for South Asia was 59%, compared to 70% in other emerging markets and developing economy regions.
It is the only region where the share of working-age men who are employed fell over the past two decades, and the region with the lowest share of working-age women who are employed.
“South Asia is failing right now to fully capitalize on its demographic dividend. This is a missed opportunity,” said Franziska Ohnsorge, World Bank Chief Economist for South Asia.
“If the region employed as large a share of the working-age population as other emerging markets and developing economies, its output could be 16% higher.”
Read more: Money launderers destroying country's economy: Salma Islam
How to Buy Plane, Bus, and Train Tickets Online in Bangladesh
Bangladesh has been making fast strides in digitalization across the board. Gone are the days when queuing up for hours was the only option for a ticket during any major holiday. Now, based on availability, tickets can be purchased online for buses, trains, and planes. Here’s how to do it.
Best Platforms to Buy Plane, Bus and Train Tickets in Bangladesh
Biman Bangladesh Airlines
Biman Bangladesh Airlines is the premier airline of Bangladesh. As the flag carrier, Biman has been successfully operating international and domestic flights since 1972.
Biman offers online ticketing services for their international and domestic flights. Users can conveniently book flights from the website or use the Biman app available for both Android and iOS users. For any kind of query regarding booking and baggage, users can contact their hotline number.
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Bangladesh Railway E-Ticketing Service
Bangladesh Railway E-Ticketing Service is the premier online ticketing service for train travel in Bangladesh. The platform has endeavored to ease the ticketing process by shifting the service to online. Currently, tickets can be bought 10 days in advance for any route of Bangladesh Railway.
The service also has an app called Rail Sheba. Users can conveniently check schedules and book tickets from the app. Usually, each person is allowed to book up to 4 tickets from one account.
Bus BD
Bus BD is one of the premier websites for booking bus tickets in Bangladesh. The ticketing portal is a subsidy of Robi Axiata Limited.
Read more: How to Avoid Scams During Travel Bookings
Currently, the portal is operating in all districts of Bangladesh with over 100 bus services under their coverage. The portal busbd.com.bd is easy to navigate with intuitive search and selection options. The standard rate of fare applies to all the tickets purchased through the portal.
However, during a rush season like Eid, the platform introduces a reserve ticket system which adds to the cost. Additionally, there’s a 10% ticket cancellation fee for selected bus operators. Bus BD uses the SSLCommerz gateway to support bank, card, and MFS payments for the tickets.
BD Tickets
BD Ticket is an all-in-one portal that also works as a booking site under Robi Axiata Limited. Unlike Bus BD, BD Tickets offers tickets for buses, planes, launches, and hotels. Users can book from their website or the app available for both Android and Apple users.
Read more: 8 Best Motorbikes Coming to Bangladesh in 2024
The web and app interface show search options for all three modes. However, users would have to call their hotline number to confirm air and launch tickets as the interface is still in the development stage.
Users can book tickets in simple intuitive steps and pay through all the leading online payment services.
Launch BD
Launch BD is a dedicated service working alongside Bus BD under the same management. Previously, users were able to search and book for launch tickets directly from the Launch BD portal. But now the booking service has been shifted to Bus BD and BD Tickets portal.
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Shohoz
Shohoz initially offered an all-in-one integrated bus ticketing service to the users. The hassle-free booking and cancellation policy made Shohoz a reliable and popular ticketing service for many.
Later, the company developed the technical infrastructure of the Bangladesh Railway E-Ticketing Service and currently provides train tickets from their dedicated website and app as well. Shohoz also launched its air and waterway ticketing service recently. The air ticketing service is still in its beta state.
Shohoz currently covers over 100 bus companies on over 30 routes. Their launch ticketing service covers more than 50 launches in several local routes.
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Jatri
Jatri aims to radically transform the public transportation scenario in Bangladesh by creating a digital ticketing, fleet management, and mobility marketplace for users and stakeholders.
Currently, Jatri offers bus and launch ticket booking services through their website. Users also have the option for reserve bus booking from the portal. This Eid, Jatri is partnering up with bKash for a 100 BDT cashback on ticket booking.
Chokrojan
Chokrojan is another reliable online bus ticket booking portal in Bangladesh. The platform was founded in 2019 to provide a smooth online bus ticketing service to users. Chokrojan is offering tickets for over 1443 trips daily in over 247 destinations.
Read more: Can You Travel Abroad Without Buying US Dollars?
The platform currently partners with over 24 bus companies on 64 routes across Bangladesh. The intuitive booking system shows the bus service, fare, and available tickets based on destinations. Users will also be able to select seats according to their preferences.
GoZayaan
GoZayaan is one of the first online travel aggregators in Bangladesh. Founded in 2017, GoZayaan has been working tirelessly in the aviation travel industry both locally and internationally. In addition to their ticketing service, the travel aggregator also offers tour packages across the globe.
The online portal has a sleek and intuitive interface for users to search and book flights. GoZayaan follows standard cancellation policies set by the respective airlines. The convenience fee is non-refundable in case of cancellation.
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Flight Expert
Being a concern of the Makkah Group, Flight Expert has been providing online travel agent services for several years. Since its inception, the organization has worked to provide all-around support to users from flight booking to hotel management.
Similar to other OTAs, Flight Expert has an intuitive landing page in their portal from where the users can easily search and book flights.
Flight Expert has two unique features that give it a competitive edge in the air travel aggregator segment. Firstly, they have the ‘Best Price Guaranteed’ feature which means they will provide the cheapest rate available for a flight. Secondly, they also have the ‘Book Now Pay Later’ feature which allows users to book and hold a flight for a certain period.
Read more: How to comfortably travel with babies
Buy Tickets
Buy Tickets started its operation as a sister concern of Airspan Limited. The OTA started its operation back in 2018 and has since been providing reliable air ticket service to the users. In addition to domestic and foreign flight ticketing services, Buy Tickets also provides comprehensive information on visa processing for different countries.
Currently, the platform is providing up to 15% discount on air tickets in collaboration with bKash for the Eid holiday.
Final Words
With online ticketing services, traveling across Bangladesh and internationally has become easier than ever. Several leading online travel aggregators are providing service with diligence and efficiency. Coupled with selective offers and discounts, it is not only easier but also better to book tickets online rather than going for the physical route.
Read more: Visa-free Eid Vacation for Bangladeshis: 10 Best Affordable Overseas Destinations
No problem with student politics, concern is control of one student body: Gayeshwar
BNP senior leader Gayeshwar Chandra Roy on Monday (April 01, 2024) said student politics on the university campuses is not the problem, the concern is over the control of a single student organision on the campuses.
“Buet authorities will take decision whether they will allow student politics on the campus or not. Because of that (Abrar Fahad killing) the Buet authorities had banned student politics on the campus, they will see whether such situation is still continuing or not and take decision accordingly,” he said.
He said these while talking to reports after visiting injured BNP Natore district unit’s join convener Dewan Shahin at Bangabandhu Sheikh Mujib Medical University (BSMMU). Dewan Shahin recently got seriously injured in an attack allegedly by some Awami League men.
Gayeshwar, a BNP standing committee member, said the situation at Jahangirnagar University is worse where Bangladesh Chhatra League secretary Manik had celebrated ‘rape century’. “It was stigma for the nation. But AL considers this shame as ornaments.”
Read more: Student politics could be returning to Buet, VC indicates
They are behaving recklessly with the support of the administration, he alleged.
He said ruling Awami Legue (AL) is staying in power unleashing atrocities and by using muscle power against oppositions.
In the last 15 years Natore BNP leaders have been facing inhuman torture by AL men. “Despite oppression the leaders and activists did not leave BNP. The scenario of torture on BNP men across the Bangladesh is same to Natore,” he said.
Terming AL as an isolated political party, Gayeshwar said without terrorist activities they (AL) could not survive in politics.
Read more: BCL no longer hiding its intention to rule BUET campus
“In this situation we have to raise our voice and get ready to give reply to their brutality,”he said.
Responding to a question from reporters, the BNP leader said the government is waiting to hear the death news of BNP Chairperson Khaleda Zia.
“I guess sweetmeat will be distributed at Gano Bhaban once they hear her death news.”
“We have nothing to expect from this government. But what they are doing with the BNP Chairperson will be considered as a planned murder,” he said.
Read more: Following legal reversal of ban, general students and BCL respond with differing visions for Buet’s future
Student politics could be returning to Buet, VC indicates
In view of the High Court's statement that “There is no obstacle to student politics in Bangladesh University of Engineering (Buet), Vice-Chancellor Dr. Satya Prasad Majumdar today (April 01, 2024) gave a clear indication that student politics might be returning to Buet campus.
Speaking to the media at his office today, the Buet VC said, “We have to accept what the High Court says. Court order must be obeyed. To implement this, we have to go through some process.”
HC wants to know why ban on politics in Buet shouldn't be declared illegal; stays decision
The Vice-Chancellor said that in order to maintain discipline on the campus, students, teachers and the administration have to reach a mutual decision, and for this to happen, discussion is necessary.
“We will look into the matter based on discussion among teachers, students and the administration,” the Buet VC added.
Read more: Following legal reversal of ban, general students and BCL respond with differing visions for Buet’s future
Where to Learn the French Language in Dhaka
French is becoming increasingly popular among professionals and students in Bangladesh. Being one of the leading international languages of the world, skills in the French language can open career and academic opportunities for Bangladeshis. Besides, several European countries and Canada value French language skills for immigration. Let’s delve into several learning centers in Dhaka that offer French language courses.
Some Popular Places to Learn French in Dhaka City
Alliance Française de Dhaka
Alliance Française de Dhaka or AFD is the premier organization in Bangladesh for learning French. The non-profit organization has been working in Bangladesh since 1959 and is playing a key role in promoting French art and culture in the country.
AFD offers French learning options for children, teens, and adults. They have both extensive and intensive courses for each level. In addition to A1, A2, B1, and B2, AFD also has a “Beginner” course to start things off from absolute basics. All of the classes are conducted offline.
The course duration is about 40 hours for the extensive program and 76 hours for the intensive one. The cost varies depending on the age group and course type. The fees range from 3,500 BDT (non-beginner children) to 16,600 BDT (extensive adults). The intensive program for adults can cost up to 19,800 BDT with books.
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Institute of Modern Languages (IML), Dhaka University
The Institute of Modern Languages of Dhaka University is one of the oldest language research projects and learning institutes in Bangladesh. Founded in 1974, IML works as an instituted faculty under Dhaka University and offers bachelor's, master's, Ph.D., and M.Phil. in selected linguistics and culture.
Currently, IML offers non-degree certificate courses in 13 different languages including French. The French language course curriculum comprises 1 year in the junior certificate course and senior certificate course. The minimum requirement to be admitted to the junior certificate course is to have at least a 2.5 GPA in HSC.
There’s also a 3-month long short course (60 Hours) on French language. All of the classes are conducted offline. The application fee is 500 BDT and the course fee is 9,500 BDT.
BRAC Institute of Languages (BIL), BRAC University
BRAC Institute of Languages or BIL is the third UGC-approved language research institute of Bangladesh. BIL started its journey in modular form offering English language courses to the students of BRAC University back in 2005.
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Over the years, the modular structure evolved into a structured language research institute which was then renamed as BIL in 2012.
As part of its Modern Languages curriculum, BIL offers courses in 7 different languages including French. Currently, BIL offers on-campus offline beginner-level courses in French. The course fee for the program is 6150 BDT.
Shield Language Academy Dhaka
Shield Language Academy Dhaka is another leading institute for learning French in Dhaka. With over several years of experience, Shield is a trusted language learning center specializing in different languages.
Shield Academy offers A1 to B2 level programs for the French language. The duration for each of the courses is 4 months with 2 classes per week. The cost of each course is 16,500 BDT. Additionally, the admission fee will be 1000 BDT and the textbook and workbook fee will also be 1000 BDT.
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AIUB Institute of Continuing Education
AIUB Institute of Continuing Education started its journey back in 2007 as a means to provide technical skill development programs to the graduates of the university. The aim was to make them industry-ready and initiate essential skills to thrust them ahead in the job market.
Over the years, AIUB ICE has expanded into a diverse foray of skill development including foreign language courses. Currently, it provides A1, A2, B1, and B2 level French courses to its students as well as outsiders.
The duration of the French course of ICE is about 4 months. Classes are held on Fridays and the medium of instruction is online. The cost of each level is 9000 BDT.
Daffodil Institute of Languages, Daffodil University
Daffodil Institute of Languages was formed as part of Daffodil University’s outreach upskilling program. DIL aims to provide certified knowledge of foreign languages to individuals to help in their career prospects. Currently, DIL offers certificate courses in English, pre-university English, Japanese, Chinese, French, and Quranic Arabic.
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Currently, DIL is offering an A1-level French course. The duration of the course is 2 months with three classes per week. The cost of the course is 30,000 BDT including the registration fee for the A1 DELF exam.
HC wants to know why ban on politics in Buet shouldn't be declared illegal; stays decision
The High Court on Monday stayed the decision of Bangladesh University of Engineering and Technology (Buet) authorities restricting politics on the campus.The HC bench of Justice Md Khasruzzaman and Justice KM Zahid Sarwar passed the order after hearing a petition filed by Imtiaz Rahim Rabbi, also a Buet student and a leader of Chhatra League, whose hall allotment was cancelled recently amid students’ protest against the gathering of some BCL leaders on the campus defying ban.
BCL no longer hiding its intention to rule BUET campusThe HC also issued a rule asking the government to explain as to why the decision of Buet authorities banning politics on the campus, taken in 2019, should not be declared illegal.Secretary to the Home Ministry, Buet Vice-Chancellor and its registrar were made respondents to the rule.Senior Advocate Shaha Manjurul Haque stood for the petitioner while Deputy Attorney General Samrendra Nath Biswas and assistant attorney general Abul Kalam Khan Daud represented the state.Advocate Manjurul said with this order there is no bar to continue student politics on the campus.On October 7, 2019, Abrar Fahad, a second-year student of Electrical and Electronic Engineering, was beaten to death by a group of Chhatra League (BCL) activists at the university's Sher-e-Bangla Hall in the early hours.On October 11, same year, Buet authorities banned student politics on the campus. It also issued a notification in this regard.
Don’t want BUET to become a breeding ground for negative political activities and militancy: QuaderOn July 19 2023, the Buet authorities again issued a notice prohibiting students and teachers from participation in politics on the campus. They issued the notice following media reports about the names of the members of BCL Central Committee where some students of Buet also got some posts in the committee.On Thursday night , some BCL leaders including the president Saddam Hossain entered the campus, sparking anger among general students.The staged demonstrations the following day protesting bid to revive political activities of BCL. They also held a press conference in front of Buet Shaheed Mianr on that day and continued their demonstration till Friday evening after taking position in front of the office of Directorate of Student Welfare on the campus.Later, the authorities concerned cancelled the hall allocation of Imtiaz who allegedly played a vital role in facilitating the entry of the BCL men.
A probe body was formed in this connection and it was asked to submit its report within April 8.
Eid holiday: Nine million to depart Dhaka by road, says NCPSRR
The National Committee to Protect Shipping, Roads and Railways (NCPSRR) forecasts that around 15 million individuals are poised to exit the greater Dhaka area, including Dhaka North, Dhaka South, Gazipur, and Narayanganj city corporation areas, for the upcoming Eid-ul-Fitr celebration.
An estimated 60% of these holidaymakers, roughly nine million people, will opt for road travel, while the rest will utilise waterways and railways.
The projection, released in a press statement by NCPSRR on Monday, sheds light on the massive seasonal migration and its implications on transportation and safety.
Despite admitting potential inaccuracies due to the lack of a comprehensive database, NCPSRR's general secretary, Ashis Kumar Dey, stated that the report was compiled from a variety of sources, including research data, civic groups, and transport sector organizations.
Read more: Dhaka Metro Rail operations to continue past 9 pm from today
The committee has voiced concerns over the possibility of increased public suffering and accidents on the roads, similar to previous years. Nevertheless, it acknowledged the government's significant efforts to facilitate smoother Eid travel for millions.
Drawing from the latest census, the report details the population distribution within the Dhaka division, noting that about 75% of the country's garment factories are in Gazipur. Workers, who predominantly reside in the Gazipur region, contribute to the large-scale exodus during Eid.
Additionally, significant populations in Narayanganj and adjacent districts add to the surge of travelers seeking to return to their native places for the Eid holiday.
Read more: Seasoned journalists, experts stress vital role of media in creating awareness to make roads safe again
The report highlights several challenges faced by travelers, including the inadequate capacity of the road transport sector to manage the massive flow of people within a week leading up to Eid.
Issues such as the poor condition of long-distance roads, over 500 risky turning points nationwide, and the manual collection of tolls exacerbating traffic congestion are identified as major obstacles to smooth travel.
Despite these hurdles, the NCPSRR remains optimistic that the implementation of government measures could alleviate some of the public's difficulties on the roads during this peak travel period. The focus now shifts to ensuring that these initiatives are carried out effectively to enhance the Eid travel experience for millions.
Read more: Wheels of hazard: Motorcycle safety crisis unfolding on Bangladesh’s roads
Move to fell century-old trees at Ctg’s CRB, Tiger Pass sparks concerns
Environmentalists and residents have raised serious concern over a recent move by Chittagong Development Authority (CDA) to cut 46 century-old trees and hill slopes from Tiger Pass to CRB area for the construction of a ramp of the elevated expressway.
Earlier in 2022, the government bid to construct a private hospital in CRB area was halted amid strong movement of the port city residents and green activists.
The CRB area, that takes its name from the Central Railway Building - built by the British colonial administration in 1872 as the headquarters of the Assam-Bengal Railway - is a scenic, hilly quarter of the Port City known for its Shireesh trees (Albizia Lebeck) Surrounded by centuries-old trees, hills, hills and valleys, this area is home to a variety of species of birds and animals.
Chattogram residents celebrate the Bengali New Year on April 14 every year on an open stage called "Shireeshtala" at CRB area. CRB also hosts the famed "Boli Khela", an annual freehand wrestling challenge that draws competitors from far and wide.
Read more: No cutting trees without permission in DNCC areas: Atiqul Islam
Environmentalists and civil society members fear that felling of trees and destruction of hills will cause environmental disaster.
Sources said CDA has already applied to the Forest Department and Bangladesh Railway for permission to fell trees and the trees that will be cut have already been marked.
Meanwhile, environmentalists and civil society representatives have called the decision "irresponsible" and requested the CDA to find an alternative plan for the construction of the ramp.
Ritu Parvin, an official of green organisation Environmental Movement Green Fingers Bangladesh, said, “CRB is marked as a heritage area. Bangladesh Railway wanted to build a hospital there, but the railway authority backed tracked due to people's agitation. No construction will be allowed in the CRB area and its surrounding areas which will destroy the environment. We will also stage protest. Already we have announced the sit-in programme at CRB on Monday.”
Read more: Plant more trees to protect environment: Environment Minister
According to the Bangladesh Railway, the Tiger Pass road was built on the hill slope to connect CRB and polo ground with the port area of Chittagong during the British period.
It is known as a double decker road to locals. The slope of the hill has been kept as a divider of this road. Hundreds of small and big trees were planted in the road division. Some trees are over 100 years old which are abode of many birds.
The construction of the 16 km long elevated expressway from Lalkhan Bazar to the airport at a cost of Tk 4,298 crore is in the final stage. Prime Minister Sheikh Hasina inaugurated the expressway in November last year. But it has not yet been opened to traffic. The duration of the project has been extended till June 2024 as the work could not be completed on time.
Journalist Mohsin Kazi, Joint Secretary General of Civil Society Chittagong, said that CDA must consider an alternative to build ramps instead of cutting trees by damaging the environment. “If any government organisation tries to cut the trees we will again start movement.”
According to CDA officials, among the 14 ramps of the expressway, one will be constructed at GEC junction, two at Tiger Pass, four at Agrabad, one at Fakirhat, two at Nimtala, two at CEPZ and two at KEPZ.
One of the two ramps at the Tiger Pass intersection will be on the New Market-bound road via CRB, while the other will be on the Ambagan-bound road. CDA sent a letter to the Bangladesh Railway on March 25 seeking permission to use 14 decimal land for its construction.
Kazi Hasan bin Shams, Chief Engineer of CDA, said that the ramp will be constructed in the CRB area with utmost importance to the environment.
“It will not have any impact on the environment if the trees are cut to build the ramp. While 46 trees are planned to be cut for the construction of the ramp, more trees will be planted. The ramp will be constructed in the national interest without damaging the double-decker road on the hill slopes.”
Md. Sujan, chief estate officer of Railway Eastern Zone said, CDA has sought permission to use the land. “We have a seven-member departmental committee which will visit the area before approval. How much land is there, how many trees are there, whether the trees will be cut - the departmental committee will check all the issues and give a report. Then it will be sent to headquarters for approval.”
Read more: WFWP-ULAB organises events to inspire youth to plant trees
Amid lower govt spending relative to GDP, Bangladesh plans increased investment to stimulate pvt sector
Bangladesh's Finance Ministry is tackling what it identifies as one of its most formidable challenges: significantly amplifying public expenditure to catalyse sustained growth within the private sector.
An official document from the ministry underscores that, in comparison to other economies, Bangladesh's government spending as a percentage of GDP markedly trails, thereby emphasising the urgency to augment investment.
Data from the World Economic Forum and the IMF (as of April 2023), reveal Bangladesh's public expenditure at 13.1% of its GDP, a figure that stands in stark contrast to countries like France at 58.5%, Sweden at 46.8%, and even neighbouring India at 28.8%. This discrepancy highlights the room for growth in Bangladesh's fiscal strategy.
The government, aiming to elevate GDP growth and living standards, views the expansion of its expenditure as crucial. This ambition is supported by the progressive implementation of reforms in Public Financial Management. Historically, the government has gradually increased its spending relative to GDP, signaling a positive trajectory.
Interest rate for April set at 13.55%, for consumer loans add 1%
Outlined in the 'Medium Term Macroeconomic Policy Statement (2023-24 to 2025-26)' from the Finance Division, the government's medium-term strategy is geared towards securing inclusive and high growth. This strategy is aligned with Bangladesh's Vision 2041, the 8th Five Year Plan, and the Sustainable Development Goals (SDGs), focusing on priority sectors including infrastructure, industrial production, food security, job creation, healthcare, and education among others.
In anticipation of the demands of the Fourth Industrial Revolution (4IR), significant allocations have been dedicated to human resource development, particularly in education and skills training. The fiscal projections set public expenditure targets at 15.2% for the 2023-24 fiscal year, 15.4% for 2024-25, and 16.2% for 2025-26.
The document further highlights Bangladesh's progression to a lower-middle-income country, with aspirations to attain upper-middle-income status by 2031. This ambition aligns with the developmental targets set within the 8th Five Year Plan and reflects the government's commitment to resuming the rapid economic growth witnessed pre-COVID-19 and pre-Russia-Ukraine war.
Banks to remain open on April 5, 6, and 7 for payment of garment workers’ salary, bonus
In response to the COVID-19 pandemic, the government prioritised life and livelihood protection, adopting an expansionary fiscal policy and channeling additional funds into critical sectors.
Despite the global political and economic instability, these measures have begun to show promise, with expectations of returning to pre-pandemic growth levels and policies aimed at promoting pro-poor and inclusive growth.
As Bangladesh looks forward, the Finance Ministry is set on formulating strategies to enhance pro-poor growth, stimulate both domestic and international private investment, bolster public investment, curb inflation, generate employment, and alleviate the balance of payment pressures. These objectives underscore a holistic approach to not only recovering from recent global challenges but also setting a solid foundation for long-term, sustainable development.