Local-Business
Bean produced in Chattogram’s Sitakunda exported to Italy for the first time
For the first time, a consignment of bean produced in Chattogram’s Sitakunda upazila has been exported to Italy, raising hope among farmers of the upazila which is already famous for vegetable production.
Farmers and agriculture officials said Sitakunda upazila is known for production of variety of vegetables including beans.
Beans are seen on vast lands on both sides of the Dhaka-Chittagong highway, on cropland, land alley, on both sides of the railway tracks, fallow land, embankments and even in hill slopes, they said.
Read more: Prospects of Safe Broiler Chicken Farming
The beans produced here are usually supplied to different parts of the country and this is the first time that this bean has been exported to Italy.
Farmers said that although raw beans are sold in winter, dry bean seeds are sold throughout the year.
Upazila Agriculture Officer said Md Habibullah said the soil of Sitakunda is suitable for bean cultivation and bean cultivation is more profitable than Boro paddy. “As a result, bean has been cultivated on 2,650 hectares of land in this upazila. This year, 47,000 metric tons of beans worth over Tk 100 crore will be produced.”
Read more: Youth's success in orange farming sparks an agricultural trend in Kurigram
Stakeholders urged to foster collaboration on circular economy
Speakers at a seminar on green growth in packaging and plastic industries on Saturday urged the stakeholders to foster dialogue and collaboration on critical aspects of transitioning towards a circular economy, where waste is minimised, and resources are reused and recycled.
The Bangladesh Printing and Packaging Manufacturers and Exporters Association (BPGMEA) and Green Tech Foundation Bangladesh organised the seminar titled "Green Growth: Exploring Investment Avenues in Sustainable Printing, Packaging, and Plastic Industries for the Circular Economy in Bangladesh" at the International Convention City Bashundhara (ICCB), Dhaka, on Friday.
The event brought together industry experts, policymakers, financial institutions, and development organisations to deliberate on the potential for green investments in the plastic, packaging, and printing sectors in Bangladesh.
Be tough on dishonest traders but incentivise the honest: Finance minister asks NBR
Shamim Ahmed, President of BPGMEA, delivered the welcome speech, setting the tone for the insightful discussions that followed.
Mohammad Sayeedur Rahman, management counsellor, at the Bangladesh Institute of Management (BIM), provided a comprehensive keynote, offering insightful perspectives on green growth and the circular economy in Bangladesh.
Michael Klode, Project Manager, GIZ Bangladesh, shared expertise on sustainable plastics and waste management.
Serve people by keeping prices of commodities at tolerable level: Food Minister
Sattya Ranjan Bhattacharjee, NPC, UNIDO, discussed policy frameworks and best practices for sustainable plastic use and marine litter prevention in Bangladesh.
Khondkar Morshed Millat, Former Director Sustainable Finance, Bangladesh Bank, and Advisor of GreenTech Foundation Bangladesh, highlighted financing mechanisms for green projects.
Douwe Dijkstra, Country Director Cordaid, Bangladesh, shed light on the role of NGOs in plastic waste management and the circular economy.
Md. Houmyoun Kabir Khan, Director, Strategic Investment Unit, BIDA, illuminated investment opportunities in the sector.
Special guests included Edwin KOEKKOEK, Team Leader - Green Inclusive Development & Social Protection, Delegation of the European Union to Bangladesh, who shared international perspectives.
Bangladesh needs to introduce social insurance for all, not social safety net: CPD
Dr. Lutfor Rahman, Founder & Executive Director of GreenTech Foundation Bangladesh, expertly moderated the discussion with his thought leadership.
This seminar provided a unique opportunity for participants to gain knowledge, network with key stakeholders, and contribute to shaping Bangladesh's future in the printing, packaging, and plastics sector through sustainable development practices. The event reflects a collective commitment to fostering a green and circular economy in the country.
Be tough on dishonest traders but incentivise the honest: Finance minister asks NBR
Finance Minister Abul Hassan Mahmood Ali on Friday asked customs officials to go hard on dishonest traders and provide tax incentives to the honest to raise revenue collection.
He was speaking as the chief guest at a seminar to mark the International Customs Day-2024 at the NBR Building in Agargaon in the capital.
Calling the NBR as the main driving force of the country's economic progress, the finance minister said that the country's economic progress is recognised by the world now.
“Although Bangladesh has made progress in all economic indicators, still our tax GDP ratio is not satisfactory. I hope the National Board of Revenue (NBR) will try to increase the tax GDP ratio,” he added.
Ali said, “One of the main functions of customs is trade facilitation. Our trade volume is increasing, customs have to be truly smart, modern and go for automation to build Smart Bangladesh.”
He mentioned that preventing money laundering is one of the responsibilities of customs and said that it is very important to increase the capacity of customs.
He hoped customs officials would pay special attention to this aspect.
With NBR Chairman Abu Hena Rahmatul Muneem in the chair, Finance Secretary Md Khairuzzaman Mozumder, and Agriculture Secretary Wahida Akter were present at the event as the special guests.
NBR members Zakia Sultana, Md Masud Sadik, Hossain Ahmed, and Chairman of Incepta Pharmaceuticals Ltd Abdul Muktadir, among others, spoke at the event.
On the growth of the country’s trade volume NBR member Sadik said that the number of bills of entry every day stood at 17000, which was around 3500 in 2010.
Serve people by keeping prices of commodities at tolerable level: Food Minister
Food Minister Sadhan Chandra Majumder on Thursday urged all to serve the people by keeping prices of commodities at a tolerable level and refraining from making more profit.
The minister made the call while addressing a civic reception accorded to him as the food minister for the second time at Naogaon town's Naogaon ground on Thursday afternoon.
Moreover, Barrister Nizam Uddin Jalil John and former secretary Sourendranath Chakraborty who were elected from Naogaon-5 and 3 constituencies in the 12th parliamentary election were also accorded the reception organised by Naogaon District Civil Society.
Sadhan said the premier in the election manifesto announced plans to keep the prices of commodities at a tolerable level.
He said attention should be paid so that the hoarders cannot hoard or any person does not trouble the people in the hope of getting more profit using a network of unscrupulous traders.
Talking about conspiracy by a vested quarter, he asked all to strengthen the hands of the premier by resisting all conspiracies and fighting against corruption to take the country forward.
Chaired by Civil Society President Dr Md Asheque Hossain, lawmakers Nizam Uddin and Sourendranath Chakraborty, among others, spoke on the occasion.
Bangladesh needs to introduce social insurance for all, not social safety net: CPD
Speakers in a dialogue of the CPD on ‘Inception of Social Insurance Forum in Bangladesh’ said that it is time to introduce social insurance instead of a social safety net programme.
The speakers said this in the dialogue organised by the research institute Centre for Policy Dialogue (CPD) and GIZ on Thursday.
Khandkar Golam Moazzem, research director of CPD, presented the keynote at the event. CPD Board of Trustee member Parveen Mahmud presided over the event.
They said that given the existing socio-economic conditions of Bangladesh, it is not allowed to remain only in the social safety net.
The speakers said now is the time to introduce social insurance. The issue should be brought up in the action plan of the government, they said.
Many countries introduced social insurance over 100 years ago while Bangladesh is far behind in this field, they said.
Those nations are now reaping the benefits of this system, and Bangladesh should learn from those countries and move forward in this regard, they said.
In the keynote presentation, Dr Moazzem underscored ‘The SIF (Social Insurance Forum) aims to bridge knowledge gaps, facilitate framework development, establish networks with stakeholders, and track progress in thematic areas.’
“The knowledge gap will be bridged by identifying and addressing gaps in understanding through the dissemination of detailed insights into policy requirements,” he said.
Clarity on organisational and operational workflows will be emphasised to enhance comprehension and implementation, he pointed out.
In the presentation, Moazzem also said that there are many loopholes in the social safety net, and those who are supposed to get social protection do not get it. Those who are not supposed to get it, get it.
In this reality, if social insurance is introduced, it will be possible to fix these loopholes, he said.
Syed Saad Hossain Gilani, chief technical consultant of ILO's Dhaka office, expressed his surprise due to the lack of social security insurance in the country.
He blamed the sluggish bureaucracy for this. The government formulated the Social Security Strategy eight years ago. But the speed of its implementation is very low., he said.
He mainly blamed the lack of knowledge and experience of the bureaucracy for this.
“Social insurance is for everyone; it is not only for the poor because each one of us can experience unemployment, sickness, and aging’, said Dr Silvia Popp, Project Manager, of the Employment Injury Protection Scheme for Workers in the Textile and Leather Industries (EIPS).
Representatives of various NGOs including the country's microcredit institutions participated in the discussion phase of the programme.
They said that a lot of work has been done on microcredit and microinsurance in the country, and many pilot projects have been launched. Insurance companies also have regular mini-insurance products.
These projects and work experience need to be shared with everyone, then the work of social insurance will speed up, said the representatives of various NGOs.
BCC fines Diamond Egg, CP for raising egg prices in collusion
The Bangladesh Competition Commission (BCC) has fined Tk 3.5 crore against two egg supply companies after probing price hiked abnormally.
The commission fined Diamond Egg Limited Tk2.5 crore and CP Bangladesh Company Limited Tk1.0 crore as the allegations of abnormally increasing the price of eggs in collusion with different companies have been proven.
The BCC filed a case against the two companies. After the hearing of the case, the commission ordered this penalty on January 22.
Within 30 days of the announcement of the verdict, the amount of the penalty should be deposited in the concerned department of the BCC. If not, a fine of Tk1.0 lakh per day will be added in light of the Competition Act.
In the ninth meeting of the BCC, based on the report of the National Directorate of Consumer Rights Protection and the report published in an online media headlined 'Tk518 crore loot from the egg and chicken market in 15 days' and the news published in various newspapers and print media, the decision was taken to investigate this matter.
According to the brief description of the complaint, the investigation report initially shows the crime of violation of the competition law by setting the sale price of eggs in the market abnormally and limiting or controlling the supply of eggs in the market against CP Bangladesh Company Limited, Diamond Egg Limited, and several other organisations.
The summary of the verdict said that the BCC ordered the penalty on both companies based on the investigation report and the written and oral arguments of the lawyers.
To ensure good governance in banks, chairman should be from independent directors: Dr Atiur
Bangladesh Bank's former governor Dr Atiur Rahman has suggested appointing a chairman from the independent directors of the board of directors of banks to ensure good governance in private banks.
He said this at a lunch meeting organised by the Foreign Investors Chamber of Commerce and Industry (FICCI) at a hotel in Gulshan in the capital on Wednesday.
Under the chairmanship of FICCI President and Managing Director of Unilever Bangladesh, Javed Akhtar, businessmen from various sectors, and representatives of development partner countries joined the event.
Dr Atiur said that ensuring good governance in the financial sector is one of the challenges now. For that reason, professional people should be brought in as independent directors.
Besides, he said that implementation of the new Bank Company Act and the merger of weak banks should be encouraged to ensure that people do not become defaulters voluntarily, he said.
Atiur presented an article titled 'Bangladesh on the path to the trillion-dollar economy: possibilities and challenges'.
“Those who claimed as the main owners of private banks are not the main owners; Rather, bank depositors are the principal owners.”
So, if the independent directors become the chairman, they will be the representatives of the real owners of the banks, he said.
Atiur said that Bangladesh has developed amazingly over the last 50 years, and if the growth rate remains 5 percent, Bangladesh will be a trillion-dollar economy by 2040.
He pointed out that there are several challenges in achieving that goal, such as inflation, deficit in financial accounts and reduced investment.
Several steps need to be taken to solve these problems including stabilising the foreign exchange rate. This will reduce inflation as well as increase foreign investment, he said.
NBR awards 54 public and private companies as highest taxpayers
The Large Taxpayers Unit (LTU), a wing of the National Board of Revenue (NBR), handed over awards to 54 public (state-owned) and private companies as the highest taxpayers for the fiscal year 2022-2023.
On the occasion, an award-giving ceremony was held at NBR's Multipurpose Hall in Agargaon on Wednesday.
NBR Member (Tax Administration and Human Resource Management) Syed Mohammad Abu Dawood, Tax Commissioner of Large Taxpayer Unit Iqbal Baha handed the award to the winners in different categories.
The winners in banking category-Islami Bank Bangladesh PLC, Standard Chartered Bank, BRAC Bank PLC, Dutch-Bangla Bank, Limited Category, Eastern Bank PLC, The City Bank PLC, United Commercial Bank PLC, The Hong Kong & Shanghai Banking Corporation Limited, Prime Bank PLC, Al Arafa Islami Bank plc, IFIC Bank plc First Security Islami Bank plc, Trust Bank, Mutual Trust Bank plc, Agrani Bank plc, The Premier Bank plc, Bank Asia Limited, Dhaka Bank plc, National Credit and Commerce Bank plc, Shahjalal Islami Bank plc, Pubali Bank plc, AB Bank plc and Jamuna Bank plc.
Non-banking finance category-Infrastructure Development Company Limited, IDLC Finance Limited, Bangladesh Infrastructure Finance Fund Limited, DBH Finance PLC, and Investment Corporation of Bangladesh.
Insurance category-American Life Insurance Company (Metlife , General Insurance Corporation Category, National Life Insurance Company Limited and Green Delta Insurance Company Limited.
Telecommunications-Grameenphone Limited Service sector-Power Grid Company of Bangladesh Limited received the award.
Engineering Category-BSRM Steels Limited, Bangladesh Steel Re-Rolling Mills Limited, and Rangs Limited.
Food and accessories-Nestlé Bangladesh Plc, Olympic Industries Limited, Transcom Beverages Limited, and New Zealand Dairy Products Bangladesh Limited.
Energy Category-Titus Gas Transmission and Distribution Company Limited and Chevron Bangladesh Blocks Thirteen and Fourteen Limited
Spinning and Textiles-Square Textiles plc and Coats Bangladesh Limited.
Medicine and Chemistry-Square Pharmaceuticals plc, Beximco Pharmaceuticals Limited, and Healthcare Pharmaceuticals Limited.
Print and electronic media category-Mediastar Limited.
Leather industry-Bata Shoe Company (Bangladesh) Limited and Apex Footwear Limited.
Other categories-British American Tobacco Bangladesh Company Limited.
Apart from this, Grameenphone Limited and Bangladesh Bank were given separate honours for deducting tax at source.
Uber appoints Nasheed Ferdous Kamal as Country Head
Uber, the ridesharing app, has announced the appointment of Nasheed Ferdous Kamal as the Country Head for Uber Bangladesh.
Nasheed is a seasoned leader with over 18 years of experience in marketing, product and pricing strategy, new business development, customer lifecycle management, revenue and base growth, said the company on Wednesday.
Read: Uber introduces subscription packages for moto drivers
Before joining Uber, Nasheed was the General Manager at Robi Axiata Limited where she led the company’s Airtel brand Base Management and Customer Lifecycle Management in the region.
She is an alumnus of the University of Windsor and North South University.
Commenting on the appointment, Abhishek Padhye, Head of Regional Business Operations, Uber India and South Asia, said, “We are delighted to welcome Nasheed as the new head of our business in Bangladesh. Her addition to our team is a significant step towards reinforcing Uber’s footprint and ensuring sustained growth in Bangladesh. Nasheed brings robust experience from the telecom industry and we are confident that under her leadership, we will explore further avenues of growth in Bangladesh.”
Read: WHO: Tuberculosis response recovering from pandemic; accelerated efforts needed to meet new targets
Commenting on the appointment, Nasheed said: “Uber has transformed the way people move in Bangladesh, while also creating work opportunities for lakhs of people. I am excited to join Uber and work alongside the talented team, as we work together on building shared mobility business in Bangladesh while committing to our sustainability goals.”
Uber started operations in Bangladesh in 2016 with a mission to power mobility. In over seven years of operations, Uber has built a strong position in the ridesharing ecosystem.
Islami Bank opens Premier Stall at DITF
Islami Bank Bangladesh PLC has opened Premier Stall at the Dhaka International Trade Fair.
Mohammed Monirul Moula, Managing Director and CEO of the bank, formally inaugurated the stall No. 71 on Tuesday at Bangabandhu Bangladesh-China Friendship Exhibition Center (BBCFEC), Purbachal, said a press release.
Md. Maksudur Rahman, Senior Executive Vice President, Md. Mizanur Rahman Bhuiyan, Executive Vice President, Md. Nasir Uddin and Nazrul Islam, Senior Vice Presidents, A M Shahidul Amran, Senior Assistant Vice President and Dipok Chandra Saha, Officer-in-Charge (OC) of Rupganj, Narayanganj along with other executives and officials of the bank were present on the occasion.
Photojournalist Motaz Azaiza from Gaza says ‘Last time you see me with this heavy, stinky vest’
Islami Bank stall is providing modern banking and information services to visitors, customers, and traders. Merchants can deposit their VAT, tax, and other fees of daily transactions through the Automated Challan System (ACS) at the stall.
Services provided at the premier stall include account opening, cash deposit, and withdrawals through ATM and CRM Booth.
Besides, information related to deposit and investment, digital banking solutions CellFin App, mCash, agent banking, and internet banking are available.
Why is Canada limiting international student permits? Who will be affected? Here are the details
In addition, sellers are also getting the opportunity to deposit their money at any time through CRM, it said.