Joel Ahmed

https://futurestartup.com/2019/10/08/how-nascenia-was-created/ How Nascenia Was Created By Aayrin Saleha Ria | Oct 8, 2019 Shaer Hassan is the Co-founder and CEO of Nascenia, a software solutions provider based in Dhaka. Started as a small IT company about eight years ago, the company has come a long way. Today, Nascenia serves clients from a long list of countries, has a growing business and is considered as one of the most prominent IT companies in Bangladesh. In an interview with Future Startup, published in July 2017, Mr. Shaer Hassan explained how Nascenia was founded. Below is a short version of the story. How I came here It took me a long time to discover the job I love. I was brought up by my parents who were service holders. Neither my parents nor any of my family members were involved in the business. Moreover, I was brought up in Khulna where business meant two things: one is government contracting, where you have to pay tons of bribe and the second, you take loan from the bank and do not repay. So, that was the general idea of business. It created a perception that if you want to do business; you have to be clever in a negative way. You have to master the art of lying, fraud and more. Given the situation, it was only natural for my parents to discourage us when it came to business. But later on, I came to realize that there was a certain type of people who were more prone to become an entrepreneur. It dawned on me that I was one of those people. I love freedom. I dislike being instructed by other people. I also dislike controlling other people. On the same note, I like to take risks, organize and motivate people to do something worth doing. In a rare moment of contemplation, I found myself playing an entrepreneurial role since my childhood. When I was in class five, I formed a detective group, I was an entrepreneur there. We used to read the series ‘Tin Goyenda’ and we thought that we could do something of our own. Then at Cadet College, I started an organization named Jagoree. I wasn’t aware of any of these things back then but now when I look back at all of these, things make sense. I can see and relate the dots now but back then it was just about random acts of passion. But as it happens all the time, I went to the marine profession to satisfy the expectation of my parents and relatives. I worked there for a certain period of time. I went to different countries. I got to know new people. But I was never settled. I left marine one year after my marriage and my wife and family supported that. Then I studied programming and loved it. My aim was to be a computer programmer. But that was the year of 2001- the year of the burst of dot-com-bubble and of 9/11. So, I jettisoned the idea of becoming a programmer. With the influence of one of my friends, I decided to study business instead. It was the turning point of my life and I realized that business was not all that bad. I was immediately drawn to the business but I wasn’t ready yet. Instead of starting my own company right out of the gate I worked with three companies that included an advertising firm, a telecom company, and a software company. Working at a software company was the most critical experience of my life because I learned a lot about business and software. And I loved all of it. In fact, I joined at a Software Company in the first place because I wanted to learn how it worked so that I could build something of my own. I can remember that my interview was taken by a non-resident Bangladeshi who was living in the USA. It was an over the phone interview, he asked me what my plan for the next 5 years and I replied after 5 years I want to have my own company. There were two people on the other side and they said don’t you think it would be a ‘conflict of interest’ that you are working in a company and you are saying after 5 years, you want to have your own company? I said maybe not. Anyway, they hired me and I learned a lot from working there. I met my partner there. I knew that I couldn’t do it all alone. I needed someone who was more technical. I persuaded Fuad Bin Omar, who was a software engineer to join me. He was nine years younger than me. One day, I asked him, do you want to remain a software programmer for the rest of your life? Don’t you want to do something greater? Do you have any idea how much you can grow in software engineering or how much you can earn and if you have your own company, how much you can earn potentially? So, what about taking a different career path where risk is high but the return is way higher than risk? Fuad showed interest instantaneously. It was in early 2010 or late 2009; we started working on a few ideas related to investing in the stock market. Back then the stock market was at the peak. We used to apply for buying shares in newly IPO-ed companies but the application process was complex. There were lots of forms to be filled up. We thought what if we could fix this application process and make it easier. After thinking about a few ideas, we made a website named BDIPO.COM. We had different business models for the site but in the end we decided to make it open and free for all. Fortunately, people received the product positively and the response was extremely good. In the midst of all these, Code 71, the company I was serving as head of operations, decided to shut down their Bangladesh operation on June 30, 2010. We were not prepared for it. But it pushed us into the water. We thought this might be some kind of sign from Almighty. Okay, enough of doubting, let’s go and do it. The journey of Nascenia We started Nascenia on 30th June 2010. We brought servers, laptops, some chairs, and tables from Code 71. One of my friends from IBA agreed to share part of his office and we moved the equipment and furniture to our new office on June 30. This is how we started. But we were not entirely focused on the business. It was more of a gig for the time being. At the end of 2011 and the beginning of 2012, we started to have good traction. We had a good size of business and a regular cash flow. Then we thought, enough is enough, we should focus on the business. We decided not to search for a job anymore but people from different companies kept on calling me to join there. Finally, I told them please don’t disturb me; I am not looking for a job. Before that, I used to say to them, “okay, which company, let’s see etc”. Well, at that time, I wasn’t even making as much money as I was making at Code 71. My partners were also suggesting me to join somewhere full-time. But I was determined. I decided not to pursue any job and to focus on business. The good thing was that the 3 of us were giving 100% of our time to Nascenia from the very beginning to this day. This was an investment. Initially, I was earning like 1/3 and then ½ of the money I could earn if I had taken a full-time job. We didn’t have any external investment. From there, we moved our office 4 times. Every time, we moved to a better and spacious office. Today, we have 45 people working for us in a 6000 square feet office. From all these hardships and struggles, one thing I can tell you for sure is that it took me a lot of time to become an entrepreneur. The mindset of an entrepreneur and a service holder is different. As a service holder, you have options to put blame on others for not doing something or not having something but for an entrepreneur, there is no one to blame. You are the person who is responsible. For quite a long time, I was in doubt whether I could really do it or not. Even sometimes I felt like, why am I doing this? I could earn double working for some big companies instead of working so hard and getting paid less than what I used to get paid. Doubt is a terrible thing. It kills everything. It affected us a lot too. We were de-focused and this lack of focus hampered our progress. A startup company is like a baby. If you don’t give it 100%, it wouldn’t grow. Between 2010 to 2013, the greatest thing that happened was not the money we earned rather the customers we acquired. Most important thing was that we, as founders, got transformed from service holders to entrepreneurs. The biggest achievement for us in the last couple of years is the mindset that we have been able to develop. This journey has changed our mindset in three years. I see a big change in my partners. They think differently. This change in mindset could not come from reading books; this can only come from experience. We have learned that entrepreneurs think differently. They look for solutions instead of talking about problems. Average people say this is good and that is bad but entrepreneurs think why this is good, why that is bad? Growing this attitude takes time. An overview of Nascenia We started with 4 people and we are now a team of over 70 members. There are fixed and long-term projects and short-term projects. Right now we’re working with around 15 clients from UK, USA, Canada, Japan, South America, Middle East, and a few other countries. Our growth slowed down since 2016. We’re growing at a rate of 10-15% yearly now. Takeaways Entrepreneurship is a journey that takes time: Entrepreneurs think differently. There look at problems and solutions differently. This way of thinking does not come on day one of starting a business- it does for some people, but for most of us, it is a matter of practice and long game. We receive the training on the job and gradually develop the mindset of an entrepreneur. Important thing is that you have to be deliberate in developing your entrepreneurial mindset. Everything changes when you commit: Most of our life is spent in a half-committed ambivalent mode. We are not sure whether we want to do it or not. We are always in doubt of one or another kind. This is not good for business. In order to do well in business, you have to commit. Once your commitment is there, everything else will follow. Follow your inclination: We all have inclination. We fail to see it because we don’t pay enough attention. Pay attention to who you are and what you do when no one is telling you what to do, you will have your answer to what you should do for the rest of your life. Leave your doubt. Doubt is bad for life.

https://www.tbsnews.net/features/panorama/how-religious-preachers-are-taking-hold-youtube-bangladesh-283744#.YQtpvdHgr4o.facebook Masum Billah & Ariful Islam Mithu 05 August, 2021, 10:20 am Last modified: 05 August, 2021, 11:03 am How religious preachers are taking hold of YouTube in Bangladesh The popular trend in country’s social media is not what you might expect – it is watching videos of ‘waz’ on YouTube Moqbul Hossain, a young security guard at an ATM Booth, was glued to his mobile screen, watching videos of religious sermons on YouTube. You could hear a preacher chastising his audience for not raising their voices loud enough. "These atheists should be beaten like dogs. Hey young men, why don't you talk? Why are your voices so low?" preacher Eliasur Rahman Zihadi called on his audience to shout. A verified YouTube channel named 'Nice Waz', which has more than seven lac (0.7 million) subscribers, had uploaded the video titled 'Zihadi hujur against the atheists like a roaring tiger'. It is hard to say how the speech impacted Moqbul; he is not much of a talker. He scrolled on to other speeches, by other preachers. Consistent with the nature of social media, it is hard for Moqbul to focus on a particular preaching video for too long. And it is not like everyone out there is inciting anger. There are thousands of such videos by hundreds of preachers on dozens of verified channels on YouTube. These channels have millions of subscribers and millions of views. Rose TV, one of the top Bangla preaching channels, has more than 900 million views (921,821,011 views when this story was being filed). Most of the preaching videos are recorded from on-site mehfils. Some channels create subject-wise smaller clips with catchy titles, instead of posting a whole lecture. If you search for 'Bangla waz' on YouTube, besides explanations of various Quranic topics, lives of prophets, and Islamic principles, some headlines will immediately draw your attention. For example, 'What did Golam Rabbani (a preacher) just say about MP Momtaz's speech in the parliament!' with the preacher and the MP's photo in the thumbnail. These channels (mostly owned by third parties while a few are owned by the preachers themselves) use clickbait tactics just like any other YouTube channel. There are so many preachers of different schools in Bangladesh that if you wanted to categorise them for an overall understanding of the impact they leave on society, it would be really tough. For example, one preacher, Abdur Razzak Bin Yusuf, said that "women have not been created for 'technology.' Women have been created only to serve their husband and breed babies.". In another video, he said "Satan's conspiracy is weak, but women's conspiracy is strong. Women are dangerous." In another one of his sermons, Razzak described Rokeya Sakhawat Hossain, a pioneer Bengali woman writer and thinker, as a stigma for the nation. "Begum Rokyea is a stigma (kolongko) for the nation," Razzak said in one of his sermons in his usual passionate tone. "All the foolish and illiterate women like her are a stigma for the nation." Needless to say, this preacher is known for his controversial comments about women. In stark difference to Razzak, Mizanur Rahman Azhari, another preacher, can be found saying that "women are allowed to do business. They can do jobs with the permission of their husbands." Both preachers are popular in Bangladesh, each having tens of thousands of followers. The approach of their speech, tone, and views are different. But they are on the same page when it comes to their fans blindly following them without question. For example, a few TV channels made reports about the controversial and degrading remarks about women made by some preachers. When you scroll down the comment box, you will see most commenters hating the media for talking about this. "This channel is anti-preachers. Boycott them," Topu Raihan wrote in the comment box of one such report. "Abdur Razzak is the pride of Bangladesh; you cannot find a second one like him. The tyrants (Zalims) will not understand the words of the preachers (Alims)," said Tarik Hasan. Thanks to the devotion of their followers, the preachers usually do not encounter questions about what they say from their live audiences. But the preachers do question each other, invalidate each other, and if you look closely into the entire preaching industry, there are serious feuds among the preachers in Bangladesh. The different schools of preachers Say you have to make a list of the top five Muslim preachers in Bangladesh based on popularity. It would include Mizanur Rahman Azhari, Hafizur Rahman, Giasuddin Taheri, Enayetullah Abbasi, and Ahmadullah. Watch their preaching for a few days, and you will spot significant differences. We are not talking about the difference in their style of presentation, it is the different interpretations of Islam. For example, Dr. Mohammad Monzur-E-Elahi draws inspiration from Salafist Islam. But unlike Abdur Razzak Bin Yusuf and other Salafists who belong to the Ahle Hadith school, Monzur-E-Elahi will not sound extreme. The preachers of this school say that they interpret Islam solely based on Quran and Saheeh Hadith. However, they have a reputation of preaching an extreme version of Islam. Hafizur Rahman is perhaps one of the poster children of Deobandi school in Bangladesh. Qaumi Madrasahs in Bangladesh follow the academic curriculum of Darul Uloom Deoband, India. The Talibans and other Afghan militants are also inspired by the Deobandi school. Remember the recently arrested preacher Ali Hasan Osama? He used to be a Qaumi teacher. Search for his preaching video on YouTube, and you will find plenty of his lectures glorifying the Afghan Talibans and its founder Mullah Omar. Millions of Bangladeshi Muslims are adherents of 'peers'. There are dozens of 'silsila' (schools of peers) and hundreds of preachers spreading their respective versions of Islamic teaching all across the country. These groups mostly introduce them as adherent of Hanafi Islam. Dr Enayetullah Abbasi is perhaps one of the biggest stars of these groups. Besides, there are peers of Furfura, Sarsina, Kaderia, and many more who are known for preaching Sufi versions of Islam in Bangladesh. It is said that the spread of Islam in Bangladesh was possible largely because of them. From Deobandi, Qaumi, Alia, Sufi, Salafi to Sunni, there are numerous versions of Islamic interpretations present on the internet, thanks to the increasing presence of such preachers in Bangladesh. We asked Enayetullah Abbasi, the peer of Jaunpur who introduces himself as a Hanafi Muslim, about these differences. "The Salafists are a different 'Ferka'. They originate from Wahhabis. However, among the existing schools of Islamic interpretation in Bangladesh, there is no basic difference. All are on the same page when it comes to the basic issues of Islam. There are some small and institutional differences in terms of explanations of certain issues." He said that preachers did not have a voice in the media before due to some 'censorship', but social media has given them opportunities to reach their audience directly. "I find this positive because you cannot evaluate the idea of Bangladesh's culture, social structure, and the state, without Islam. The main idea of liberation was derived from Islam," the preacher added. The feuds among preachers sells more on YouTube The feuds among preachers of diverse backgrounds make such platforms more dramatic to the audience. It is a big selling point of the preaching-based YouTube channels. You will find plenty of videos watched by millions that basically feature one preacher against another on the same topic. The preaching videos, thus, are not some boring religious edicts for the viewers. They are well-packaged entertainment of debate, fun, conflict, excitement, and often tension and incitement. So, they attract millions of views. You will find only a few established TV and drama channels with collective views crossing 1 billion, after much investment and years in business. But these preaching channels - as TBS observed a few dozens of them, have envious viewership - considering that most of them began to emerge after 2017. According to the US financial news website The Business Insider, one million views on YouTube can earn you something from $3,400 to $40,000, based on their complex algorithms, video size, etc. It is hard to find which channels earn how much just from the estimation of their views, but The Business Insider estimation helps us guess the 'minimum' figure. Let us consider Rose TV's viewership, 900 million, and multiply it with $3,400, as per Business Insider estimation. The result is $3,060,000, which is equivalent to approximately Tk250,920,000 (25 crore). However, there are other estimates that suggest YouTubers earn $1 for 1,000 views. In that case the figure changes drastically. But still, the total would remain gigantic. We found at least 20 such preaching channels ranging from 10 million to 900 plus million views. Now, most of these channels are not owned by the preachers. But do the preachers enjoy the royalties? It is hard to figure out, because the preachers do not feel comfortable sharing how much they are earning from preaching. Preachers refrain from disclosing their income We talked to Gias Uddin Tahery - a popular preacher whose preaching is often dubbed into DJ songs by some YouTubers - to know how much he earns from a preaching session. Tahery did not feel comfortable answering the question. But he said during the season (November to February is regarded as the main preaching season) he conducts up to three preaching sessions every day. Although he felt shy talking about honorarium to us, he did talk about this to another YouTuber in an earlier interview that he is paid around Tk one lac per session. It is hard to find a concrete number for Tahery's income in one season, because he will not disclose, and he said his fees might vary from session to session. The unwillingness to disclose earnings is very common among the preachers. We asked several of them about how much they earn from preaching, but they do not feel comfortable to reveal their income. Societal influence of online preachers We asked sociologists and researchers how they evaluate the vibrant presence of preachers online. "Social media's nature of replicability at an unprecedented speed, ability to become relevant by responding on time and exploiting the context, taking the opportunity of cheap and easy access to the worldwide network helped the Islamist preachers to emerge as dominant actors in the Bangladeshi cyber-sphere," said Saimum Parvez, a digital media and politics analyst based in Bonn, Germany. "Now, the Islamist preachers can create and control their own content without depending on mainstream print or electronic media. The control over the production of the content enabled them to build their own narrative and reach their narratives to millions without almost any cost." Professor Sadeka Halim of the Sociology department of the University of Dhaka said that some preachers in the speeches "are saying vulgar things about women. They talk about controlling the mind and body of a woman. Their speeches also criticise other religious people in the country. These things have a lasting impact on society." She said that the government should monitor what these Islamic preachers are saying in the name of preaching. Saimum Parvez, however, finds different types of Islamic preachers online. "We should not blankly label them as threats to our security. We should analyse them case by case. Sermons, which justify violence and support terrorist organisations, are red flags. However, it would be unwise to say that Islamic preachers, in general, have a harmful impact on our society." Enayetullah Abbasi, when asked about the incitements of some preachers against atheists and women, said, "Some speakers become proponents (bokta probokta hoye jay) while explaining certain issues. Islam will not take responsibility for their speeches. But they will not be able to cause any harm because knowledgeable scholars are now in the field." How do the security apparatus evaluate the preachers' rise online? In the past, a few preachers have been arrested for incendiary speeches that violated different laws, including the so-called child-preacher Rafiqul Islam Madani who made derogatory remarks on the Prime Minister. Interestingly, although he remains in jail, his speeches are still available online and continue to garner views. Law enforcement agency officials said that there are a few thousand preachers in the country and they regularly monitor what the preachers say in their speeches. "We have enough capability to monitor the contents online. Moreover, we also monitor the offline mahfil speeches with the help of the intelligence departments and units, including the Special Branch of the police," said Md. Moniruzzaman, Additional DIG, Anti-Terrorism Unit. "Their speeches sometimes carry anti-state elements, which can break the social fabric of the country. For this reason, cases have been filed against some preachers," said Moniruzzaman. The Business Standard cited specific examples where the preachers violated existing law through their speeches, including attacks on national icons and the Prime Minister. "They are educated men and they know what can be said in the speeches and what cannot. If they say anything that goes against the law, we take actions according to the law," said Kamrul Ahsan, additional inspector general of police who heads the Anti-Terrorism Unit. However, he refused to make any remark on the specific instances cited by us. Kamrul Ahsan, additional DIG of Criminal Investigation Department who heads the Cyber Crime Command and Control of CID said that they usually investigate cases related to YouTube speeches only after a case has been filed. "We need someone to make a complaint to investigate a case." The security and societal aspects aside, admit it or not, the preachers are the biggest stars on YouTube in Bangladesh for now. Remember how preacher Mizanur Rahman Azhari's YouTube channel had nearly a million subscribers without even posting a video within a few days? And also, have you noticed girls making TikTok videos with the preachers' lectures? Or tech channels making preaching reviews and having millions of views? Tech Voice BD, a tech channel that reviews preaching instead of tech, has more views than Bangladesh's top YouTuber Salman Muktadir's YouTube channel 'SalmonTheBrownFish'. This leaves us with a clear understanding that a shift is happening on social media that we cannot ignore. We will have to wait to know how the preachers' robust online presence influences the society and the nation. But for now, let's just agree that watching waz – irrespective of the viewers being educated or illiterate – is the new trend in Bangladesh.

https://www.dhakatribune.com/business/2021/08/05/google-pays-2-3c-in-vat Google pays 2.3C in VAT Tribune Report Published at 04:52 pm August 5th, 2021 This makes them the second big tech after Facebook to pay VAT in Bangladesh Leading big tech and popular search engine Google has paid Tk2.3 crore in value-added tax (VAT) to the National Board of Revenue (NBR). This makes them the second big tech after Facebook to pay VAT in Bangladesh, after the social networking giant paid Tk2.44 crore on July 29 earlier, both of which are registered with the Dhaka South VAT Commissionerate. According to the Dhaka South VAT Commissionerate, a VAT of Tk55.78 lakh against the returns of last May has been filed by the foreign institution, and another Tk1.74 crore for June. The company deposited the money to the government treasury on Thursday from the Citibank NA branch in Singapore. PricewaterhouseCoopers (PwC), Google’s local consultant, confirmed saying: “The returns have not reached the government as of yet, it had just made its way into the country as of now. We had to sign forms as per procedure once it made its way here and it will be deposited into the bank accounts on the next working day following the submission of challan.” The search engine giant was one of the first foreign companies to register with NBR acquiring a business identification number (BIN) in Bangladesh in May to avail VAT-related services, including VAT payment and VAT return submissions. So far, four non-resident organizations have registered for VAT. Other companies besides Google are Facebook, Amazon, and Microsoft, which do not have local offices but have appointed local consultants on their behalf. Earlier, the NBR amended the VAT Act to provide direct VAT benefits to companies. According to the Value Added Tax and Supplementary Duty Act, 2012, companies like Facebook, YouTube, and Google have to register for VAT and set up offices in Bangladesh or hire VAT agents. An additional commissioner at NBR, requesting anonymity, told Dhaka Tribune that the government prior to the tech company registering was getting revenue from Google with the help of the Bangladesh Bank. “Bangladesh bank was collecting VAT from Google through Google AdSense. It gives us the amount after charging for their work. But from now we can get VAT directly from Google as it is registered now,” he added. Tech companies like Facebook, Google, YouTube, and Microsoft have been earning revenue from ads and the government took steps to address revenue loss from the tech companies. NBR sources said that it was decided international tech companies like Facebook, Google, YouTube and Microsoft would not be able to conduct business in Bangladesh without VAT registration. According to that decision, these companies will either have to set up offices in Bangladesh, or hire VAT agents. If they wanted to do business in Bangladesh, then they would have to pay taxes to the government for conducting its business here. In other words, there are some more complications including not having a permanent office in Bangladesh, which may be solved permanently in the proposed budget for the fiscal year 2021-22. Currently, only the provision of hiring a VAT agent in case of payment of VAT is applicable at present. If resolved, the issue of hiring an agent will remain as an alternative opportunity. Currently, under VAT law, local VAT agents are responsible for paying VAT. Companies have been facing various problems since 2019 to get VAT registration and submit VAT returns. There was a demand from them to get this service directly as per VAT law. But due to legal complications, foreign companies had to hire VAT agents to get VAT services.

https://www.tbsnews.net/dropped/trade/bangladesh-yet-tap-22bn-export-potentials-283639 Jasim Uddin & Reyad Hossain 04 August, 2021, 10:55 pm Last modified: 05 August, 2021, 09:26 am Bangladesh yet to tap $22bn export potentials The LDC graduation might put Bangladesh in a more vulnerable position following a loss of duty-free benefits At a time when Bangladesh's single-product export base is struggling to cope with the global market vulnerability amid the pandemic, studies show a ray of hope that the country could earn $22 billion more annually if liberal market access could be utilized with diversified items. Europe, the Americas, Japan and China are among the potential markets for the additional amount, which is more than half of the country's current export earnings. The Economic Relations Division (ERD), in a study, finds that $18.34 billion worth of export potentials remain unexplored in the top ten export destinations, while another study of the Research and Policy Integration for Development (RAPID) says there is a scope of at least $4 billion in export earnings from China alone. Experts say every country except for the US is offering duty-free access for Bangladeshi products to its market, but Bangladesh cannot cash in on it in the absence of necessary initiatives of the government and the private sector. Besides, the country is losing its competitive edge in global trade because of an overdependence on a single product and inadequate measures to ensure standards certification, they add. The LDC graduation might put Bangladesh in a more vulnerable position following a loss of duty-free benefits, they also say. Exporters and economists identify two main reasons for the country's failure to tap the unexplored potentials in top export destinations. The first one is the non-diversification of the country's export basket, and secondly, an inability to maintain the quality of products. A lower inflow of foreign direct investment is also hurting its trade potential. They also say the readymade garment sector apart, other sectors are not getting the kind of attention they need. As a result, the country cannot exploit the potential of exporting leather products, plastics, jute products, agricultural products, home textiles, frozen fish and many more. In the last fiscal, no sectors other than agriculture, home textiles and jute goods alongside the major contributor, the RMG sector, hit the 1$ billion mark in export earnings. According to the ERD report, only six export sectors - RMG, leather, pharmaceuticals, plastics, footwear and shrimp have the potential to bag $18.34 billion more, while their current export earnings stand at $31.21 billion. On the other hand, apparel exporters claimed that the RMG sector has the potential to add another $20 billion to its current contribution through producing human-made fibre-based products for the current buyers and existing markets. They are working with the government to set up an innovation centre to diversify products, they added. The government has also offered a tax holiday facility for bringing in investment in the human-made fibre industry from FY21. Besides, the International Finance Corporation (IFC), a member of the World Bank Group, has also been working with the government and leather, plastics and light engineering sector entrepreneurs to diversify the export basket and enhance their competitiveness in the export market. Leather sector entrepreneurs say they will not be able to explore the global market without the Leather Working Group (LWG) certification for the Savar leather industrial park. The ERD study styled "In the shadow of the pandemic: Implication and required action" has found that Bangladesh has failed to grab the potentials of the top ten export destinations, even though in some markets, half of the opportunity has remained untapped. The estimations carried out by Professor Mustafizur Rahman, a distinguished fellow of the Centre for Policy Dialogue (CPD), indicates that Bangladesh has significant untapped potentials both in terms of markets and products. The study also mentioned that towards sustainable graduation, both domestic measures and international support will be required to realise these potentials. According to the Export Promotion Bureau (EPB), only the apparel sector has been contributing about 81% to export earnings although Bangladesh exports a total of 31 types of products to over 200 countries across the world. According to the study, Bangladesh has a scope to export an additional $3.2 billion worth of goods to the US market beside the current $6.3 billion. Exporters said exports to the market are not growing mainly because of some tariff barriers. The data also indicates that in key markets, Bangladesh's competitive edge is being gradually eroded even in the particular case of its dominant apparel sector. For example, China in the US market is being increasingly taken over by Bangladesh's competitors such as Vietnam and Cambodia, the report said. The ERD study also mentioned that Bangladesh has the scope to increase its export volume by another $3.6 billion to Germany, $2.2 billion to the UK, $1.7 billion to Spain, $1.9 billion to France, $1.2 billion to Poland, $1.3 billion to Italy, $1.6 billion to the Netherlands, $500 million to Canada and $800 million to Japan. Evaluating trade gap data, the study also said within the existing top six export items, apparel products have the potential to export over $17 billion more. Besides, footwear, plastics, pharmaceuticals, leather and shrimp sectors are yet to exploit $1.29 billion of export potential. The country is on the path of returning to normalcy after a pandemic-hit period, with its exports raking in $38.75 billion in FY21, recording a growth rate of 15.10%. The growth is riding on RMG export recovery, which earned $31.45 billion showing a 12.55% growth, according to the EPB. Dr M Masrur Reaz, chairman of the Policy Exchange Bangladesh and former senior economist at World Bank Group, said, "We cannot supply products as per the global market demands. Our earnings from other sectors apart from the RMG sector is very low. We could export footwear items to Japan, but we do not have quality products." There is a huge potential for agricultural products, but the sector's contribution is only about 2.5%, he said adding, "We are unable to capitalise on the potential because of low food and phytosanitary standards." The country needs to acquire sample certification from Singapore. Many countries have a mutual recognition agreement to facilitate this, but Bangladesh has no such deal with any country, he also said. The global market for halal food amounts to $2.4 trillion. "Our exports to this market are almost zero as we do not have a halal certification system. Similarly, we are not able to export light engineering products as per the standards of European and US markets," Masrur said. "We cannot sell products at competitive prices because our productivity is relatively low and inland logistics cost is high, which eats up a big part of the whole. Bangladesh is one of the worst performers in providing logistics support." Raw materials meant for many products are import-dependent. Raw materials for readymade garments can be imported without paying duty under the bond facility. But other products are deprived of such an advantage, he said. "We need to sign Free Trade Agreement and Preferential Trade Agreement with different countries, but we do not have any such deal with anyone except Bhutan," he added. The country could get an advantage in lead time too in a huge market like China. But there is not much attention to it, he pointed out. World's top exporting country China imports more than $2.5 trillion worth of goods a year. Although Bangladesh's bilateral trade with China is more than $14 billion in the 2020-21 fiscal year, according to Chinese customs data, also mentioned by the Chinese ambassador, Bangladesh exported only $680 million worth of goods to the country, of which 40% was readymade garments. However, China has been providing duty-free access to most of Bangladesh's products under LDC since 2011. And from 1 July last year, this zero tariff facility has been extended to a total of 8,256 products. Research conducted recently by a team of three researchers headed by Dr MA Razzaque, chairman of Research and Policy Integration for Development (RAPID), showed that Bangladesh's exports to China should be at least $4 billion. It also showed that Bangladesh could not harness even 30% of its export potential in the Chinese market. Exporters and experts say the kind of public-private initiative needed to capture the Chinese market is simply not there. The BKMEA attended a fair in China in 2005, but there was no more participation after that. Citing the example of one of his own buyers, BKMEA First Vice President Mohammad Hatem said the buyer had spoken to him about an order for a garment made of a combination of nylon and polyester, but he could not take it because they did not make that type of garment. Munshi Faiz Ahmad, Bangladesh's former ambassador to China and former chairman of the Bangladesh Institute of International and Strategic Studies (BIISS), told The Business Standard that China has given Bangladesh many opportunities. "But if we can't make what they need, then exports can't be increased. We also do not have an organised study on how to increase exports to China." He also said, "The spare parts of the products that China is making are being made in other countries. We are not looking there." Echoing Faiz, Dr Ahsan H Mansur, executive director of the Policy Research Institute, said, "All our export products are basically finished goods. We are not able to take advantage of the possibility of exporting such parts as intermediate goods. China imports spare parts for many products from abroad and Bangladesh could be part of that supply chain." Besides, the obligation to add 40% value to local products for exports to the Chinese market is one of the obstacles to increasing exports to the country, said Khondaker Golam Moazzem, research director at the Centre for Policy Dialogue (CPD). Apart from this, the gradual reduction in tariffs for other exporters to China under MFN (Most Favoured Nations) has created more competition for Bangladesh, said Dr Mostafa Abid Khan, an international trade expert and former member of the Tariff Commission. In 2011 when most of Bangladesh's products enjoyed duty-free access to the Chinese market, other countries had to pay 16% duty. But under the MFN, China has gradually reduced tariffs for those countries to about 6% in 2018, which means Bangladesh's preference margin in the Chinese market has decreased, exposing the country to stiff competition, he observed.

https://thefinancialexpress.com.bd/trade/car-stockpiles-jamming-bangladesh-seaports-amid-shutdown-1628130691 Car stockpiles jamming Bangladesh seaports amid shutdown JASIM UDDIN HAROON | Published: August 05, 2021 08:31:32 | Updated: August 05, 2021 14:28:04 Imported car stockpiles at Bangladesh's two main seaports hit an all-time high principally as roads are off-limits and shops shuttered amid corona curbs. Sources in the business circles say importers and cargo carriers are losing business proceeds while government missing out on revenue to a great measure. There have been prolonged lockdowns enforced across the country, staggered spell by spell, and the current 'hard' one has been extended by five more days to August 10th as daily corona casualties remain high above 200 while cases of infection are many hundreds. Country's external trade also has been hit hard as global markets were under lockdowns or restrictions amid invasion by the coronavirus pandemic for last one and a half years. With the tide stemmed by enforcement of health rules and mass vaccinations, however, most countries are reopening now. The imported-car stockpiles have a knock-on impact: the lots are causing a space crisis at port yards and frustrating the car carriers as their stay time is increasing in Bangladesh, the sources said. Motorised vehicles reach Dhaka and other major cities through driving but this lockdown bars entry to the cities. Besides, car importers say, a slump in the trading persists for long due to the pandemic and lockdowns leading to the stockpile at the ports. As of Monday, there were 6187 units of motorised vehicles in stockpile at both the ports --- Port of Chittagong and Port of Mongla. Ctg had 2,556 units while Mongla had 3,631. There are 2,386 units more to be grounded within the next couple of weeks, according to officials working at both the ports. Of this, some 2,100 units will be discharged in Mongla and some 286 in Chattogram. Of the stock-lot, approximately 20 per cent of the cars are brand new while the rest belong to reconditioned category, mostly come from Japan. Such huge numbers of stored vehicles is equivalent to more than 60 per cent of the country's annual car sales, people familiar with the trading told the FE. This is frustrating car carriers as they have to wait three to four times higher than usual for discharging the automobiles. The car carriers, specially designed for transporting motorised vehicles, usually enjoy "priority berthing" at the ports of Bangladesh. That advantage is blurred by the global public health emergency. The MV Malaysia Star, which carried 1156 units of cars, had to wait 11 days for unloading the cars in Ctg Port, according to shipping executives. The MV Lotus Star which arrived in Ctg with 286 units of cars, including 160 units of brand- new ones on July 27, has yet to get permission for discharging. It may start discharging cars on August 05, said people familiar with the matter. "Actually we have priority berthing but we now have to wait for more than 10 days, which raises our operational cost significantly", said Shahed Sarwar, deputy managing director at Chowdhury Group involved with Japanese shipping line ---K Line. Under such cases, shipping companies impose surcharges for overstay at the ports, which ultimately causes a raise in prices of the imported products on the local market. In the meantime, to avoid the increased port rents after free charges the importers prefer to store the imported cars in the open. The rents for the open-sky spaces are much cheaper than for the well-structured sheds. As the undelivered vehicles occupy spaces of the port yards, the customs authority is now conducting auctions, according to customs officials. They said Mongla Customs conducted an auction on July 29 for 150 vehicles and Ctg customs would do for 360 units shortly. Chittagong Port Authority has recently written to BARVIDA, the representing trade body of reconditioned cars, for quick delivery of the motor vehicles. Contacted, port officials told the FE that the delivery stood almost zero during this round of lockdown. "In my view, the delivery is almost zero", said Mr. Omar Faruk, secretary at the Chittagong Port Authority (CPA). He said usually, during lockdown-free days, importers take around 90 cars a day. Echoing the same, director (traffic) Mostafa Kamal at the Mongla Port Authority (MPA) told the FE that the pace of delivery is very slow this time. "Importers used to take delivery of around 100 units of imported cars a day but this time at best 2-3 units," he said. Car importers prefer Mongla port, especially since the past caretaker-government era in 2008. The rent called wharf rent is one-third here from Ctg port. And the Mongla port, which handles around 60 per cent of total car imports, fetches a large part of its revenue from the car imports. Its capacity for storing is 4,200 units but it has already grounded 3,600. It is expecting around 2,100 units more within next few weeks, according to the Mongla Port officials. Car importers say that their business has dropped significantly because of the pandemic and the lockdown. They said there are some other issues, including NBR policy stances, which are also liable for this huge logjam at the ports. "Our business has dropped around 50 per cent over the past one year," said Mohammed Shahidul Islam, chairman at HNS, a leading car seller in Bangladesh. He said there is another important issue: there is now huge demand for ambulances and micro-business due to the pandemic. The NBR has issued an order slashing the duty for the segment of the vehicles. But it mentioned the reduction in the duty is applicable for the diesel-run ambulance and the 12-14- seater microbuses. "Such policy stance also contributes to the stockpile as many importers do not take delivery as long as the issues are settled", Mr. Islam, also general secretary at the BARVIDA, told the FE. Currently around 250 units of such microbuses also remain stockpiled at the ports, BARVIDA said. Abdul Hoque, president of BARVIDA, lamented that ports and banks remained open during this lockdown but BRTA registration and their showrooms remained closed. "To my mind, we need to keep all required services open for limited hours each working day during the lockdown to avoid such stockpile at the ports," Mr Hoque, also managing director at a leading automobile company, Haqs Bay Automobiles Ltd, told the FE. The slow delivery and slump in the business affect government revenue mobilisation. The NBR loses significant supplementary duty which comes from imported luxury goods. The revenue board has a target of collecting supplementary duty worth Tk 120 billion. As of May, in 11 months of the fiscal year, it had collected Tk 74.7 billion only. And BRTA or Bangladesh Road Transport Authority loses a large sum of money as registration fees, while non-life insurers miss out on premium earnings for insurance coverage. Vehicle registration with BRTA had dropped significantly during the past 11 months of the last fiscal year. Total registration in July-May stood at 160,515 units. Of the figures, private passenger-car registration dropped to 6,196 units as of May last, down by more than 50 per cent from July-June of 2019-20. However, Bangladesh imported some 12,502 units of reconditioned cars in 2018-19. This fetched Tk 27.4 billion to government exchequer, according to BARVIDA statistics. Annual sales are around 10,000 units of cars, BARVIDA said. There are three Ro Ro car carriers currently operating to and from Ctg and Mongla seaports. Brand-new cars are usually loaded from Singapore and Colombo. The new cars come from Asia's emerging markets like China, Thailand, Korea and Indonesia. Local groups Rangs Motors, JMJ motors, Navana Motors and KIA Bangladesh are among the leading brand-new-car importers and traders.

https://www.theindependentbd.com/post/266159 5 August, 2021 10:07:35 AM India for implementing MoU with Bangladesh in disaster management India happy over Bangladesh’s joining CDRI UNB, Dhaka India has laid emphasis on implementation of the recently concluded memorandum of understanding (MoU) with Bangladesh in the field of disaster management, resilience and mitigation on a priority basis. “We must implement the recently-concluded MoU in the field of disaster management, resilience and mitigation on a priority basis,” said Indian External Affairs Minister Dr S Jaishankar in a letter sent to his Bangladesh counterpart Dr AK Abdul Momen. Bangladesh and India signed a number of MoUs to enhance cooperation in various sectors, including disaster management, resilience, and mitigation during Indian Prime Minister Narendra Modi’s visit to Bangladesh in March this year. In the letter, Dr Jaishankar expressed confidence that these mechanisms will help the two countries remain better prepared to face such challenges in the future. “We’re glad that Bangladesh has decided to accept our invitation to join the Coalition for Disaster Resilient Infrastructure,” said the Indian External Affairs Minister. The Coalition for Disaster Resilient Infrastructure (CDRI) is a partnership of national governments, UN agencies and programmes, multilateral development banks and financing mechanisms, the private sector, and knowledge institutions that aims to promote the resilience of new and existing infrastructure systems to climate and disaster risks in support of sustainable development. The United States, the United Kingdom, Australia, Japan, India, Nepal, Bhutan, the Maldives, Sri Lanka, Turkey, Argentina and Brazil are among the members of the initiative. Dr Momen rightly pointed out that the entire world, in particular the South Asian region, is witnessing frequent climate related disasters, mentioned Dr Jaishankar in his letter. The Indian External Affairs Minister also stated that capacity building, learning from each other’s best practices as well as extending support to each other is the need of the hour, according to the Ministry of Foreign Affairs here. Dr Jaishankar thanked Dr Momen for his condolence letter for the people who lost their lives in the recent floods in Maharashtra.

https://thefinancialexpress.com.bd/trade/bangladeshs-stock-market-holds-hidden-gems-for-investors--1628084047 Bangladesh’s stock market holds ‘hidden gems’ for investors, HSBC says Published: August 04, 2021 19:34:07 The stock market in Bangladesh deserves more attention as it holds opportunities for investors looking for diversification and ‘hidden gems' Devendra Joshi, ASEAN and Frontier Markets Equity Strategist at the HSBC Global Research, said this at a virtual session on Wednesday, according to a press release. “Bangladesh is on a similar growth trajectory to Vietnam. In fact, its stock market is where this ASEAN nation was five years ago, and it is well placed to closing the gap,” he explained at the session titled ‘Bangladesh Market Insights 2021: Consumption Propelling Growth’. “We think the country is on the verge of an industrial revolution as incomes rise and technology plays an ever-increasing role in the economy. Urbanisation, smaller households and more women at work are powerful consumption drivers that support high levels of growth,” Mr Joshi added. Bangladesh also has a sound macro position and a robust external balance sheet –with low external debt and high FX reserve coverage, he discussed in the session. “Its foreign direct investments (FDI) remains low but is expected to improve as it moves up the value-added ladder fast. While Bangladesh is one of the cheapest places to manufacture goods in Asia, it will need to diversify away from garments.” “In terms of ease of doing business, Bangladesh still lags Vietnam but is making efforts to improve”, Mr Joshi said. Dr Ahmad Kaikaus, Principal Secretary to Prime Minister Sheikh Hasina attended the session as the chief guest, while Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) President Md Jashim Uddin attended the programme as the special guest. Sandeep Uppal, Global Co-Head of International Subsidiary Banking, Commercial Banking, HSBC, Md Mahbub ur Rahman, CEO of HSBC Bangladesh, Kevin Green, Country Head of Wholesale Banking, HSBC Bangladesh also spoke on the occasion. Speaking at the event, Dr Kaikaus said, “The economy of Bangladesh is seeing continuous growth because of the entrepreneurship spirit of its people, strategic location, and support from the financial sector. We are energised to do better and showcase our success stories through increased public-private partnerships and reach Bangladesh’s competitiveness globally. I would like to thank HSBC for always being a trusted and optimistic partner for the Government of Bangladesh, which will further strengthen the Bengal Delta to glow and shine much sooner than the Governments set a target of achieving Developed Country status by 2041.” CEO of HSBC Bangladesh said, “In its past 50 years, Bangladesh’s trajectory of economic growth has been a testament to the people’s insatiable desire and effort to do better. Continued digitalisation and up-gradation of technology, consistent rise in per capita income leading to incremental consumptions and demographic dividend have been opening up a world of opportunities for Bangladesh. Historically, our private sector has always been resilient during challenging times and HSBC will continue to play its part through unparalleled international network and connectivity.” Key members of the business community, regulatory bodies and representatives from state-owned enterprises, among others, were present at the webinar.

https://www.newagebd.net/article/145419/finance-minister-dismisses-extra-1pc-cash-incentive-for-remittance Finance minister dismisses extra 1pc cash incentive for remittance Staff Correspondent | Published: 18:36, Aug 04,2021 | Updated: 18:38, Aug 04,2021 Finance minister AHM Mustafa Kamal on Wednesday dismissed another 1 per cent incentive against the inflow of remittance. He said that the current 2 per cent cash incentive against the inflow of remittance was good enough while answering a question on extra one per cent incentive planned by the Bangladesh Bank. The minister was talking to reporters virtually after presiding over meetings of the Cabinet Committee on Economic Affairs and Government Purchases. The government has been giving 2 per cent cash incentive for remittance since 2019-20 fiscal year. The inflow of remittance hit a record high of $24.77 billion in the 2020-21 FY. But the inflow of remittance fell to a five-month low in July, 2021, at $1.87 billion which is 28 per cent lower than July of the previous financial year. The country’s exports also declined by 11.19 per cent in the same month. Mustafa Kamal blamed the restrictions throughout July in the wake of fresh upsurge in the number of Covid infected patients and deaths for the poor inflow of remittance and export incomes. He laid emphasis on success of the on-going vaccination programme for proper economic recovery in the remaining part of the financial year.

https://www.facebook.com/bsecroadshow/posts/116988373998594

https://www.tbsnews.net/bangladesh/india-keen-rail-project-china-quits-over-revised-cost-282748#.YQjdo1o-FNo.facebook India keen on rail project as China quits over revised cost A Chinese contractor got the work of converting Akhaura-Sylhet metre gauge railway line into dual gauge in April 2019 Indian state-run Ircon International has come forward and promised to ensure financing of the conversion of Akhaura-Sylhet metre gauge railway line into dual gauge if awarded the job as China backtracked on implementing the project citing cost reduction. A Chinese contractor won the project through a government-to-government (G2G) arrangement in April 2019 when the Executive Committee of the National Economic Council (Ecnec) approved Tk16,104 crore as the project cost. Later, the cost was deemed to be much higher than other similar projects and the Prime Minister's Office (PMO) revised it down by more than Tk3,354 crore. China then informed the PMO of its decision not to go ahead with the funding and the construction. In a recent letter to Railway Minister Nurul Islam Sujan, Ircon said it was willing to implement the project through funding form the Exim Bank of India. It also said it had completed more than 16 projects in Bangladesh since 1986 and its familiarity with the local terrain and socio-economic conditions near the project site would be an added advantage in executing the railway project. Those involved in the sector said projects implemented through G2G initiatives with Chinese funding cost very high and there was no open invitation of tenders. Similarly, only Indian contractors are invited to submit tenders for implementation of India-funded projects. In the Akhaura-Sylhet railway project, Ircon will be the contractor if Indian fund is used. Experiences with the ongoing and previous projects that have been funded by India do not hold much hope, sources said. Indian contractors took more time than expected to begin construction and did not bring building materials to the sites on time. There is evidence of use of low-quality materials in railway projects as well. Several reports of the railway ministry also pointed out that Indian contractors did not pay heed to complaints. On the other hand, if projects are funded by development partners, such as the World Bank, the Asian Development Bank (ADB) or the Japan International Cooperation Agency (Jica), contractors across the world can participate in tenders. The railway ministry, however, said it still wanted to discuss the project with China and was not thinking of the proposal by India. If China does not come back to the negotiation table, the government will consider India, World Bank, ADB or Jica as alternative sources of funding. Md Khaled Hussain, joint secretary to the railways ministry, said the Economic Relations Division (ERD) would see the matter of funding of the project. He said no conclusion had been drawn yet regarding Chinese funding. The railways ministry will write to the ERD to look for other sources of funds after the government reaches a final decision. In doing so, the authorities will see which source of loans will better serve the interest of Bangladesh, Khaled said. Mirana Mahrukh, joint secretary at the ERD, said China had asked Bangladesh to revise the proposal, but the railway ministry was yet to send a revised version to the ERD. Planning Commission objects to Chinese funding A project proposal to change the 225km Akhaura-Sylhet metre gauge railway line into dual gauge was made at the beginning of 2018 and the cost was estimated at Tk15,705 crore. The Planning Commission at the time objected to the proposal upon analysing costs of other similar projects. In a report, the Commission said the estimates in the proposal of ballasts, slippers and other materials were much higher compared to costs of other projects of the same nature. Overall, the cost of the Akhaura-Sylhet rail line project was several times the costs of other projects, which was why, the Commission said, accepting Chinese funding would not be prudent. For example, the cost of per kilometre construction of the Akhaura-Sylhet rail line was set at Tk56.72 crore whereas building the Akhaura-Laksam dual gauge railway tracks cost the government Tk24.80 crore per kilometre. The selection of a contractor without any competitive bidding procedure was another reason behind the objection, the Commission said. The finance ministry finally decided to cancel the implementation of the railway project with Chinese funding. The Planning Commission said the dual gauge railway line, if constructed, would not increase train operations on the route. If a double line and a dual gauge were set up, only then people would be benefited, it added. The then finance minister AMA Muhith echoed the view in a letter. Due to the opposition of the Planning Commission, the project proposal was not placed at the Ecnec meeting at the time. But after the change of the government and the change of the finance and planning ministers, the Akhaura-Sylhet railway project got approval of Ecnec in 2019 with the project cost fixed at Tk16,104 crore.

https://www.tbsnews.net/bangladesh/major-modernisation-5-unused-train-stations-cumilla-282721 Tayubur Rahman Sohel 03 August, 2021, 10:15 am Last modified: 03 August, 2021, 11:12 am Major modernisation of 5 unused train stations in Cumilla! It is money down the drain, say many railway officials, expressing outrage at the waste of public money Three railway stations in Cumilla were modernised recently and two others are being renovated, but they are mostly unused. Several officials of the Cumilla Railway region, wishing to remain unnamed, expressed their outrage, saying there are many dilapidated stations in the vicinity that see the movement of a lot of passengers but those have not been modernised. The stations that are closed and unused have been modernised, they said. For example, Mainamati Railway Station in Cumilla has seen extensive renovation and modernisation. It previously had a small room for signaling but has five rooms now – a VIP guest room, a guest room, a hall room, a signaling room, and the station master's room. The station has got a spectacular foot overbridge as well, which is like a two-storey building. During the renovation, a platform with a shed was also made in the station, which remains closed for two years. Not only Mainamati, but also the renovation of two more stations in Cumilla -- Alishwar and Lalmai -- has been completed recently. Renovation is going on at two more stations -- Sadar Rasulpur and Shashidal. According to railway sources, the renovation of these stations is being done at a total cost of Tk10 crore. Among the stations, Alishwar station has been closed for 15 years and Mainamati for two years. There is no longer any signaling or train stops at either of these stations. No intercity train stops at Lalmai station, although there is signaling here. Only the Jalalabad and Nasirabad trains stop at this station. However, these trains are no longer operating at present and government revenue from this station is Tk100 or less per day. Signaling is on at Sadar Rasulpur station, but hardly any trains stop here either. Only the Karnafuli train stops at this station. Other trains that stopped here, do not, or are no longer in service altogether. According to sources, there is no possibility of train stops increasing at these stations in the near future, nor is more signaling likely to be revived again at these stations. The massive modernisation of these stations has caused outrage among many people including railway officials themselves. Expressing their annoyance, many railway officials said the money has totally gone down the drain. Sources said there are 11 stations in the Cumilla portion of the Dhaka-Chattogram and Chattogram-Sylhet rail routes. Of those, no activities including signaling have been running at the Mainamati, Alishwar, and Naoti stations. Like Mainamati and Alishwar, the Naoti station has also been modernised, but on a different model. The Cumilla, Laksam, Nangalkot, Hasanpur, and Gunavati stations have not been modernized, despite having a large number of passengers. 14 pairs of trains, up and down, to and from, stop at Cumilla station, 16 pairs in Laksam, and eight pairs of trains stop at Nangalkot station. Only the platforms have been expanded and the foot overbridges (which are not used) have been built at some of these stations. Except for the Cumilla and Laksam stations, no other stations in the Cumilla portion of rail routes have security measures or are set up for buying tickets online. Tickets are sold at these stations in the traditional handwritten manner, and many rail crossings do not have gates or gatemen. Not a single Ansar member is working at other stations either. The shiny renovation of closed and low-passenger stations alongside the mismanaged and busier stations, has caused outrage among the general population in the region. Badrul Huda Jenu, president of the Socheton Nagorik Committee (Cumilla Chapter), said, "I am not unhappy with the modernisation of these stations. My question is, why aren't the stations that have a large number of passengers being modernised on a priority basis?" Cumilla deputy assistant engineer (railway) Liakat Ali Mojumder says these stations have been modernised under the Dhaka-Chattogram Broad Gauge Double Line project with the future in mind. The work is supposed to be completed in June 2023. And the other stations have not been modernised as they are not within the scope of this project, he added. Abdul Wahab, coordinator of Max, who does overall project maintenance, said, "We are working the way the government has designed things. Maybe these are being modernised with a 100-year plan in mind." He refused to say any more than that.

https://www.tbsnews.net/bangladesh/tib-applauds-nbr-identifying-80000-companies-not-being-taxed-282610 TBS Report 02 August, 2021, 08:35 pm Last modified: 02 August, 2021, 08:38 pm TIB applauds NBR for identifying 80,000 companies not being taxed The TIB has also called for effective measures to ensure good financial governance Transparency International Bangladesh (TIB) has commended the National Board of Revenue (NBR) task force for identifying about 80,000 companies not being taxed at present, and for the ongoing process and initiatives of the NBR to integrate them into the existing tax system. The TIB called for an investigation into how such a large number of companies have been outside the tax system so far, how much tax evasion has happened, and to identify procedural weaknesses of all institutions concerned to prevent such incidents from recurring in the future. In a statement on Monday, TIB Executive Director Dr Iftekharuzzaman said, "The NBR's Corporate Compliance Task Force's discovery of a large number of companies outside the net proves the extent of financial irregularities, corruption, and lack of good governance in the country. A registered company has been doing business for half a century but has never paid taxes. Again, 1,400 companies are registered at only two addresses or the same person is the director of 46 companies but has only four TIN." "This information also shows irregularities and financial mismanagement of fairy tale proportions. This huge number of companies did not start practising tax evasion overnight. This situation has arisen due to the connivance of many concerned. In addition to holding them accountable, it is important to identify the procedural and institutional weaknesses and to address them quickly," he added. Iftekharuzzaman fully agrees with the preliminary report of the task force on non-TIN companies, titled "Tragic picture of a country mired in corruption" and "Lack of good governance in the country's financial sector". He added that the Registrar of Joint Stock Companies and Firms does not have any system to identify joint venture companies and firms, even though more than a hundred companies are registered at one address. It is equally clear that the irresponsible behaviour of a class of law firms is equally responsible for the registration. Even though more than 78,000 businesses have TINs, only 26,000 have filed income tax returns and half of them have submitted fake audit reports and evaded a lot in taxes. Therefore, to prevent such incidents in the future, it is necessary to formulate effective strategies now and ensure technical connectivity and coordination between the agencies, he said. "The sincere efforts of all concerned are essential so that everyone, including businesses, can play the desired role in the country's economy by paying taxes in a hassle-free and easy manner. At the same time, we urge all businesses to be vigilant in the ongoing process of taxation so that they are not harassed," said Iftekharuzzaman.

https://www.daily-sun.com/printversion/details/567976/Big-change-in-economy-ahead Large Infrastructure Projects Progressing Fast Big change in economy ahead Hasibul Aman 2 August, 2021 12:00 AM Clockwise: Padma Bridge, Metro rail, Rooppur nuclear power plant and Karnaphuli tunnel. – SUN PHOTO The ongoing large infrastructure projects undertaken by the incumbent government are going to change the country’s fate in the coming days as they are likely to have a huge positive impact on the economic landscape. In its three terms in a row since early 2009, the Awami League-led government launched a number of large infrastructure schemes ranging from bridge, railway and power ones to mass rapid transit projects for the capital aligned with its long term development goals. “There was no long or midterm development plan in the country prior to the government’s assumption of power in 2009. Governments other than that of Awami League ran the country with PRSP which even lacked any GDP growth target,” said Dr Shamsul Alam, newly appointed state minister for planning. With the systematic planning, the government has been able to bring about a big change in the economy as well as the lives and livelihoods of the country’s people, he added. The government has so far adopted three five-year plans of which sixth and seventh plans have been implemented and implementation of the 8th plan is underway. These plans were based on long-term perspective plans called Vision 2021 and Vision 2041. The Vision 2021 sought to raise the country’s status to a middle-income one by 2021 while the newly formulated Vision 2041 has been picked to turn the country into an affluent nation by 2041, 70 years of the country’s independence. Besides, Bangladesh formulated Delta Plan 2100 and has taken initiatives for Blue Economy to explore economic potentials from river and sea. Riding on the plans and positive steps, Bangladesh’s per capita income has now risen to $2,227, which is even higher by $280 than India’s $1,947. Of the development initiatives, the large infrastructure projects are going to have some direct impacts on the economy in the mid and long terms, according to economic analysts. Japanese Ambassador to Bangladesh ITO Naoki has recently said the shape of Bangladesh will change and will have a positive impact on the future of Bangladesh once the ongoing mega-infrastructure projects, especially the Japan-funded ones, are completed. The projects include Padma Bridge, Rooppur Nuclear Power Plant, Padma Bridge Rail Link, a number of metro rail for Dhaka city, Karnaphuli Tunnel, Matarbari Power Plant, Rampal Power Plant, Rail Bridge on Jamuna River, Payra Seaport, Elevated Expressway and Dohazari-Cox’s Bazar-Ghundhum Rail Line among others. Some of the projects are close to the finishing line while some others have been lunched recently and some are waiting to be launched soon. Work on the projects was advancing fast in recent years, but the corona pandemic slowed down the pace of some projects. The country’s GDP growth rate reached its peak at 8.2 percent in 2018-19 fiscal year. But the raging growth rate slipped to 5.2 percent in 2019-20 fiscal year amid the pandemic. Global analysts hailed Bangladesh that it could have an impressive 5.2 percent GDP rate despite the pandemic while growth of most economies faltered during the pandemic. However, work on some infrastructure projects is now going on in full swing maintaining proper health safety protocols while the country is fighting second and third wave of coronavirus after successfully battling the first wave. Apart from bringing a drastic change to the country’s communications and infrastructure, the projects are expected to increase Bangladesh’s exposure to the whole world. All this has been possible for the continuation of the government for three terms in a row, according to analysts. Since taking office in early 2009, the government attached highest priority to improving the country’s energy and power situation as electricity is the main source of industrialisation and socioeconomic development. As a result, Bangladesh is now a power surplus country from a power-deficiency one and it is now very close to achieving cent percent electricity coverage. Meanwhile, Bangladesh has been able to nearly finish the much-talked-about Padma Bridge connecting Dhaka with 21 southern districts, ending all skepticism surrounded after cancellation of World Bank fund for the mega structure. Apart from the funding problem, the country has been able to address all the technical and natural problems while constructing the 6.15-km bridge over the mighty River Padma. Simultaneously with the bridge, the government is constructing a 169-km rail line from Dhaka to Jashore to ensure seamless connectivity between Dhaka and the southern and southwestern districts while reaping the full benefit of the Padma Bridge. Similarly, Japan-funded Dhaka Metro Rail project is also advancing fast now despite a hiccup due to coronavirus. Two sets of train have already reached the country from Japan. The Uttara-Agargaon segment of over 20-km elevated metro rail from Uttara to Motijheel is waiting to go into operation soon. Work on the China-assisted Karnaphuli Tunnel is in progress amid the pandemic, though a bit slow. So far, it achieved 70 percent progress and the project officials are hopeful of finishing it by the stipulated timeframe. The government is going to construct a dedicated rail bridge over the Jamuna River parallel to the existing Bangabandhu Bridge to lower burden on the existing bridge apart from curtailing travel time for the trains. At present, crossing the 4.8-km bridge takes nearly half an hour as speed limit on the bridge has been set at only 20km per hour for the safety of Bangabandhu Bridge. Prime Minister Sheikh Hasina is expected to formally inaugurate the Japan-funded bridge project next month, which will be another milestone for the government. “Bangladesh is advancing fast in terms of infrastructural development. Bangladesh is also replicable to other countries for its success in economic development and poverty reduction,” commented Dr Atiur Rahman, former Bangladesh Bank governor. Once the mega projects are implemented, Bangladesh’s image will increase across the world, he also thinks.

https://www.dhakapost.com/law-courts/50937 নব্য জেএমবির দুই সদস্য ৫ দিনের রিমান্ডে নিজস্ব প্রতিবেদক ০২ আগস্ট ২০২১, ০৬:৩১ পিএম রাজধানীর যাত্রাবাড়ী থানা এলাকায় পুলিশের ওপর হামলার অভিযোগে গ্রেফতার নব্য জেএমবির দুই সদস্যের পাঁচ দিন করে রিমান্ড মঞ্জুর করেছেন আদালত। তারা হলেন- শফিকুর রহমান হৃদয় ওরফে বাইতুল্লাহ মেহসুদ ওরফে ক্যাপ্টেন খাত্তাব ও মো. খালিদ হাসান ভূঁইয়া ওরফে আফনান। সোমবার (২ আগস্ট) যাত্রাবাড়ী থানায় সন্ত্রাসবিরোধী আইনে করা মামলায় তাদের আদালতে হাজির করে পুলিশ। একইসঙ্গে মামলার সুষ্ঠু তদন্তের প্রয়োজনে তাদের দশ দিন করে রিমান্ডের আবেদন করেন। আবেদনের পরিপ্রেক্ষিতে ঢাকা মেট্রোপলিটন ম্যাজিস্ট্রেট আশেক ইমাম তাদের পাঁচ দিন করে রিমান্ড মঞ্জুর করেন। রোববার (১ আগস্ট) যাত্রাবাড়ী থানা এলাকায় অভিযান চালিয়ে তাদের গ্রেফতার করে পুলিশ। এ সময় তাদের কাছ থেকে ৪০০ গ্রাম লাল রঙের বিস্ফোরক জাতীয় পদার্থ, তিনটি বিউটেন গ্যাসের ক্যান, এক সেট রিমোট কন্ট্রোল ডিভাইস, চার প্যাকেট ছোট আকারে বিয়ারিং বল, ১০টি ক্রিসমাস বাল্ব, দুটি কালো রঙের ইলেকট্রিক টেপ, একটি আইইডি তৈরির ম্যানুয়াল, হামলায় ব্যবহৃত একটি মোটরসাইকেল উদ্ধার করা হয়। জানা যায়, গত ১৬ মে ঢাকার অদূরে নারায়ণগঞ্জের সিদ্ধিরগঞ্জ থানার সাইনবোর্ড ট্রাফিক বক্সে পুলিশের ওপর বোমা হামলার চালায় আসামিরা।

https://www.tbsnews.net/bangladesh/summit-signs-mou-commonwealth-lng-help-supply-fuel-bangladesh-282499#.YQfaKhfttJg.facebook UNB 02 August, 2021, 05:35 pm Last modified: 02 August, 2021, 05:41 pm Summit signs MoU with Commonwealth LNG to help supply fuel to Bangladesh According to Summit Group, the signing ceremony took place at the Bangabandhu Auditorium of the Embassy of Bangladesh in Washington, D.C. in the presence of Dr. Tawfiq-e-Elahi Chowdhury, Energy Advisor to the Prime Minister Summit Oil and Shipping Co. Ltd. ("SOSCL"), the private sector importer and supplier of fuel oil to Bangladesh, has signed a Memorandum of Understanding (MOU) with Commonwealth LNG to collaborate in the supply of LNG to Asia, including Bangladesh. The SOSCL is part of the Summit Group, Bangladesh's largest infrastructure conglomerate. According to Summit Group, the signing ceremony took place at the Bangabandhu Auditorium of the Embassy of Bangladesh in Washington, D.C. in the presence of Dr. Tawfiq-e-Elahi Chowdhury, Energy Advisor to the Prime Minister. Speaking on the occasion, Dr. Tawfiq-e-Elahi Chowdhury underscored the importance of ensuring access to energy sources to support the economic development related activities in Bangladesh. He welcomed the signing of the MOU between SOSCL and Commonwealth LNG as an important step towards further expanding the existing energy cooperation between Bangladesh and the United States. The scope of the MOU includes SOSCL potentially contracting for 1 million tonnes per year (MTPA) of LNG offtake, for a term of up to 20 years, from Commonwealth's 8.4 MTPA facility currently under development in Cameron, Louisiana. SOSCL's associated companies within Summit Group have approximately 3 GW of gas-to-power electricity in operation or development within the Indian subcontinent, and operate a 500 mmcf/d Floating Storage and Regasification Unit (FSRU) and LNG terminal under Summit LNG Terminal Co (Pvt) Ltd ("SLNG") in Moheshkhali of Cox's Bazar. "We're proud of what this step means towards securing this major source of clean energy for the growing economy of Bangladesh," said Farid Khan, Vice Chairman of Summit Group. "We look forward to having Commonwealth LNG as a partner that can deliver U.S.-sourced LNG, providing diversification of supply for Bangladesh and the pricing stability associated with Henry Hub", he added. From Commonwealth LNG's perspective, President and CEO Paul Varello said the MOU is evidence of just how aligned the parties are in achieving their shared objectives. "Commonwealth's focus on producing the lowest-cost liquefaction in the U.S. remains important in a highly competitive global market," said Varello. "This becomes even more critical for a rapidly emerging economy such as Bangladesh where the need for additional energy is critical for sustaining its economic growth. Summit has recognized that need and Commonwealth LNG looks forward to partnering in these efforts," he said. Commonwealth is implementing an accelerated construction schedule that will allow the project to be built in three years using a predominantly modular approach with major components being fabricated offsite, said the Summit Group.

https://www.tbsnews.net/economy/bazaar/noodles-market-growing-rapidly-amid-urbanisation-pandemic-282208 Abbas Uddin Noyon & Shawkat Ali 02 August, 2021, 11:45 am Last modified: 02 August, 2021, 01:04 pm Noodles market growing rapidly amid urbanisation, pandemic Busy work / life changes have greatly raised the market demand for noodles, prompting many local and foreign conglomerates to invest in this sector The market for noodles – a very popular snack item – has expanded rapidly in Bangladesh in the last few years due to rapid growth and urbanisation. Also with restaurants closed under Covid-19 restrictions, entrepreneurs both here and abroad are keen to explore the market potential for noodles. The noodle market in Bangladesh is worth around Tk1,000 crore, and it has shown an annual growth rate of about 10% in the last few years. But the growth jumped to around 16% during the pandemic with many people staying home, for the most part, industry insiders told The Business Standard. Along with the growth in the local market, exports grew too – increasing 25% in FY2020-21, year-on-year. Urbanisation and people's work and lifestyle have brought the boom naturally to the noodles market. Seeing the steady growth in demand, a number of large conglomerates, both local and foreign, have invested in this market, say insiders. Aside from giants like Nestlé, Cocola, Pran-RFL, Bashundhara, Square, and Ifad, a number of smaller companies have also entered the Bangladeshi noodles market. On the matter, Pran-RFL's Director of Marketing, Kamruzzaman Kamal, said, "When people stay home, they tend to snack more. Noodles are a very popular snack item, and it can be prepared quickly. "This is why the noodles market is booming at this time." Pran's Mr Noodles is one of the most popular noodle brands in Bangladesh. There are two types of noodles available in the local market – instant and stick noodles. The demand for instant noodles is higher in the country, as they can be prepared relatively quickly. 60% of all noodles sold in the market are instant noodles. Some brands of instant noodles come pre-packaged with vegetables, meat, spices and eggs, and people just need to add hot water and its ready to eat. Stick noodles are more cumbersome. They have to be boiled and mixed with vegetables, meat, or eggs, which also have to be cooked before serving. Nestlé Bangladesh's Maggi is the market leader in the instant noodles category, with a 30% market share. Nestlé Bangladesh's Corporate Affairs Director Naquib Khan says, "The instant noodle market is growing and Maggi is driving the growth. Its purpose is to be an ally of consumers in their kitchens, to help them cook tasty and healthy food they love. "In the last couple of years, Maggi has launched Maggi Masala Blast, Maggi Fusian Bangkok Sweet Chilli noodles. Masala Blast delivers a very exciting spicy taste to teens and youths, especially those who have grown up with Masala Maggi." He continued, "Maggi always comes up with exciting new tastes for Bangladeshi consumers. Bangkok Sweet Chilli is a new type of noodle which is very popular in Bangkok. Maggi brought this noodle for food enthusiastic youths of Bangladesh under a new brand called Maggi Fusian." Aside from Nestlé Bangladesh and Pran-RFL, Cocola also holds a good share of the noodle market in Bangladesh. Bashundhara Group brought their brand of noodles to market recently, and Kolson is also marketing their brand in a bid to boost their market share. Collectively, data from noodle companies indicate they sold more than Tk1,000 crore worth of noodles in Bangladesh in 2019, say insiders. People had to cut back on going to restaurants during the Covid-19 crisis, which in turn gave popularity to home-cooked food items that can be prepared quickly. Industry insiders say the noodles market will go up by another Tk200 crore by the end of this year. The Chopstick brand of instant noodles – owned by Square Food & Beverage Ltd – does not have any MSG or tasting salts. "We were anxious that schools and colleges closing in the pandemic would adversely impact the noodles market, but instead, our sales have increased," said Parvej Saiful Islam, CFO of the company.

Couldn't agree more dear.

Tax receipts rebound Growth hits decade high Star Business Report Sun Aug 1, 2021 12:00 AM Tax collection bounced back in Bangladesh in the last fiscal year to grow at the sharpest pace in 10 years, riding on increased imports and an uptick in receipts of value-added tax. The National Board of Revenue (NBR) collected around Tk 260,000 crore in 2020-21, up more than 20 per cent from Tk 216,540 crore year-on-year, provisional data showed. This is the highest growth rate since fiscal 2011-12. The recovery came a year after the NBR posted its first-ever decline since independence in the face of the onslaught of the coronavirus pandemic, which forced the government to impose a two-month-long countrywide shutdown from the end of March to May, crippling the economy. The curb was lifted in June last year, enabling businesses to run in a new normal until the beginning of the second wave in April this year. This enabled the NBR to raise more taxes. Receipts from customs tariff shot 27 per cent year-on-year to Tk 77,150 crore in FY21 against Tk 60,550 crore. Soaring imports and record remittance flows buoyed domestic demand, helping VAT collectors log increased receipts of the indirect tax paid by consumers. The collection of VAT, the biggest source of revenue for the government, was up 15 per cent to Tk 97,490 crore in FY21. "Compliance has increased due to monitoring and supervision. There had been efforts from the field level officials too," said Md Anwar Hossain, director-general for research and statistics of the NBR. He said there had been a good realisation of arrears, while an acceleration of automation of customs and VAT systems also paid off. "We would have been able to collect a higher amount of revenue if the Covid-19 pandemic was over." In FY21, income tax collection grew 19 per cent to Tk 85,224 crore, up from Tk 71,432 crore in FY20, according to NBR's provisional data. Despite the growth in collection, overall receipts stood Tk 41,000 crore below the NBR's revised goal of Tk 301,000 crore for the last fiscal year. Towfiqul Islam Khan, senior research fellow of the Centre for Policy Dialogue, said the overall revenue collection could not be termed unsatisfactory in view of past years' trends and the ongoing pandemic. "The shortfall was largely attributed to traditional structural weaknesses and bad programming," he said. The deficit implies that a higher than planned growth will be required in FY22. Revenue mobilisation is important as the government may need to provide more support to the vulnerable population given the pandemic. "Better revenue mobilisation may give the government much-needed confidence to allocate more resources to the distressed population," said Khan. The NBR has been given a task to raise Tk 330,000 crore in the current fiscal year.

https://thefinancialexpress.com.bd/economy/bangladesh/system-of-electronic-tax-deducted-at-source-to-be-introduced-soon-1627785778 System of electronic tax deducted at source to be introduced soon DOULOT AKTER MALA | Published: August 01, 2021 08:42:59 | Updated: August 01, 2021 14:52:00 The taxpayers would soon be able to adjust or claim a tax credit or seek a refund of their paid advance income tax (AIT) under the electronic tax deducted at source (e-TDS) system. The tax authority has prepared a system to introduce the e-TDS at all the income tax offices across the country anytime soon. An e-TDS design and development team has prepared the system through integrating it with all the relevant tax deducting authorities. TDS contributes around 50 per cent of the total direct tax, around Tk500 billion, collection of the National Board of Revenue (NBR). Tax officials said the e-TDS is one of the major automation works of income tax to ensure tax justice and check tax evasion by the deducting authority. There are a total of 0.3 million tax deducting authorities including the government and private organisations, which are bound to deduct tax at source from the taxpayers and deposit it to the public exchequers. It has been found that many of the deducting authorities refrain from depositing the taxpayers' money properly, taking advantage of the manual system. The e-TDS would check such irregularities and ensure transparency in the system. Talking to the FE, Moammad Jahid Hassan, tax commissioner of Zone-6 who is leading the e-TDS implementation team, said the system was fully ready to implement in all the tax zones across the country. "We are waiting for NBR's approval to introduce the system centrally for the first time in Bangladesh," he added. He informed that four tax zones are currently under a piloting programme of the e-TDS. The NBR would sign memorandum of understanding to join hands with the automated chalan (a-chalan) system. The taxpayers will be able to seek refund of their paid tax, adjust their TDS at the time of submission of tax returns and claim tax credit easily using the e-TDS system. The system would be integrated with the a-chalan system developed by the ministry of finance. With the help of a-chalan, the traders can make direct payments from their bank accounts through the real time gross settlement (RTGS) of the Bangladesh Bank. The finance division of the finance ministry developed the a-chalan system under the improvement of public financial services delivery through implementation of budget and accounting classification and iBAS++ scheme. It is a component of strengthening public financial management programme to enable service delivery. An AI-based export-import engine has been prepared to facilitate the businesses to adjust advance paid tax at import or export stages. The engine would be integrated with the Asycuda system of the customs department. The NBR has completed vulnerability assessment and penetration testing and obtained certificate from Bangladesh Computer Council (BCC) in this regard. The NBR would transfer the e-TDS system in Bangladesh Data Center Company Limited (BDCCL) server. It has already inserted SSL wild card on the system. Officials said that there was a plan of NBR to introduce the e-TDS across the country from this month (July, 2021), but the process has been delayed due to COVID-induced lockdown and changes of NBR high officials. In future, the e-TDS system would establish data sharing with e-return system to get tax deduction information of salary payment and other sectors.

https://thefinancialexpress.com.bd/views/opinions/bridges-to-be-demolished-and-reconstructed-1627832598 Bridges to be demolished and reconstructed Neil Ray | Published: August 01, 2021 21:43:19 As many as 805 bridges all across the country will have to be demolished and reconstructed because those were constructed at a lower height than the standard. A number of these bridges were built recently and construction of a few was still underway only months back, ignoring the request of the Bangladesh Inland Water Transport Authority (BIWTA) not to do so. Construction of Trimohini bridge and Nainichala bridge was thus carried out in defiance of the BIWTA objection early this year. About a dozen of these bridges on the rivers around the city will have to be knocked down for reconstruction with proper height. Recently the Executive Committee of National Economic Council (ECNEC) approved 10 projects worth Tk 25.7542 billion under which the bridges of improper heights will be taken care of for watercraft to get past such bridges. Goods-laden water vessels cannot pass these bridges because of lack of overhead clearance. What is intriguing is that the government agencies including the Local Government Engineering Department (LGED), Roads and Highways Department (RHD) and Bangladesh Railway (BR) are responsible for construction of these bridges of low height. The BIWTC reportedly requested the agencies involved in a number of cases not to go ahead with the plan under which those bridges were constructed. Does it give an indication of anything? It surely does. There is a serious lack of coordination between government agencies. It can be assumed that the BIWTA tried to impress upon the agencies concerned of the demerit of the lower heights. But unless the BIWTA's approval is a sine qua non for construction of any bridge on rivers or other waterways for passage of vessels why should they care? The problematic bridges came to light when the whole gamut of river channels' navigability and their protection from pollution and encroachment was brought under scrutiny by a task force constituted last year for recommending remedial measures. Revival of the country's waterways system is likely to reduce the transportation cost of commodities and at the same time improve environment. An eviction drive against encroachers on the banks of rivers is part of the campaign now being carried out. In a way, then, the government will have to carry out a corrective drive against its own organs. Perhaps these agencies gave up on rivers forever and did not pay heed to the BIWTA's pleas. But now the country will have to pay a heavy price for their obstinacy. Bridges on rivers have to be constructed at least 25 feet high from the water levels in time of floods for ensuring overhead clearance of vessels. Similarly, horizontal clearance of 100 feet is warranted. Now this gargantuan task will be highly challenging because of the double whammy of getting those knocked down as well as putting in place their proper replacements. It is not just the question of squandering money, but also the time it will take to get those ready for movement of traffic. One example of the hassle to be encountered is the resetting of at least 8,000 feet railway track when the Tongi railway bridge will have to be given a proper height. Moreover, the Tongi railway stations will also call for reconstruction. Disruptions, inconvenience and wastage of money in the process make a poor commentary on the sagacity of the people involved and placed in high positions of the agencies concerned. A permanent structure costing millions of Taka should not be treated as a child's toy. No one has the right to bleed the exchequer in this foolish manner. Comprehensive plans have to be drawn for construction of infrastructure of this order. From now on, let there be proper coordination between different agencies so that overlapping works such as carried out by different utility services can be avoided. In the same breath, adequate plan for infrastructure should be in place before their construction. Finally, the BIWTA should be delegated the authority to issue clearance for bridges over waterways.

Tobacco leaves are always grown in non-agricultural land.

https://thefinancialexpress.com.bd/trade/how-bangladesh-is-looking-to-upgrade-railway-infrastructure-for-boosting-regional-trade-1627620900 How Bangladesh is looking to upgrade railway infrastructure for boosting regional trade Published: July 30, 2021 10:50:20 | Updated: July 30, 2021 18:26:14 In a bid to boost regional trade, the government is emphasising railway communication infrastructure by taking up a long-term project to upgrade all rail lines in Bangladesh to dual gauge, bdnews24.com reports. As part of the plan, the existing meter gauge line in the country's south-eastern regions will be overhauled first. For this, the railway line from Dhaka to Dohazari in Cox's Bazar will be converted into dual gauge to accommodate both broad and meter gauge trains. The line will also create a direct link between Dhaka and the deep seaport in Cox's Bazar's Matarbari. After that, initiatives are being taken to increase connectivity and trade with countries in the region, including Myanmar, India, China, Thailand, Malaysia and Singapore, through Ghumdhum via Ramu. In the meantime, a feasibility study for the implementation of the Dhaka-Chattogram-Cox's Bazar railway project is being carried out at a cost of Tk 2.12 billion, with financial assistance from the Asian Development Bank or ADB. The project, which started in 2015, was scheduled to be completed this year. But due to the ongoing Covid-19 pandemic, a proposal has been sent to the Planning Commission to finish it next year, railway ministry officials said. Addressing the project, Railway Minister Nurul Islam Sujan said, “We'll take up an umbrella project with four to five initiatives. As there's now a single line of meter gauge from Chattogram to Dohazari, a project will be undertaken to turn it into dual line and broad gauge." "The 135-km railway line from Laksham to Chattogram is currently in meter gauge. A separate project will be pursued to turn it into broad and dual gauge. There will be a package from Tongi to Akhaura and another from Tongi to Bhairab Bridge. In this way, the entire railway line from Dhaka to Cox's Bazar will be converted to dual and broad gauge.” "Neighbouring Myanmar, India, China, Thailand, Malaysia, Singapore and many more countries will be connected to it and discussions are ongoing to increase greater regional connectivity and trade. We'll implement these projects in a planned manner as part of our own preparations to build internal infrastructure with trade in mind.” Work is already underway to construct a dual gauge over the Jamuna River and a broad gauge over the Padma, according to Sujan. "Basically, we're converting all our railways to broad gauge.” On Jun 15, a virtual discussion was held on the project's feasibility study. According to the summary of the meeting, a total of 12 railway bridges will have to be constructed from Tongi to Dohazari under the project. These railway bridges will be constructed over Tongi canal, Balu, Shitalakhya, Arial Khan, Old Brahmaputra, Meghna, Chhoto Feni, Muhuri, Feni, Karnaphuli, Matamuhuri and Old Matamuhuri rivers. Under the initiative, rail tracks will be laid at the proposed power plants at Maheshkhali and Matarbari. It will also facilitate the movement of cars and wagons and have fuel supply and rolling stock depots as well as several offices for railway services. An official at the railway ministry said the project to establish direct rail links between Dhaka and Matarbari is likely to cost around Tk 700 billion. Addressing the matter, SM Salimullah Bahar, chief planning officer of Bangladesh Railway, said: “The figure is based on a preliminary estimate of the expenditures. However, nothing has been finalised yet. Negotiations are underway with the Asian Development Bank for financing. Then, the final cost will be known." "In fact, our target is to convert all the railway lines across the country to broad gauge. Once this project is implemented, the meter gauge will remain on Dhaka-Mymensingh, Dhaka-Jamalpur and Dhaka-Sylhet rail lines. If the finances are available, the ministry aims to convert these railways to broad gauge between 2035 and 2040.” The route from Dhaka to Cox's Bazar via Tongi, Bhairab Bazar and Cox's Bazar will span around 470 km. However, if a direct line from Dhaka's Kamalapur to the south-facing Cumilla cord line is established, it would be possible to reduce the distance by 94 km and save about two hours of travel time. In the past, Britain had a vision of developing railways in Bengal centred on Assam and Kolkata, according to BUET's Prof Shamsul Haque, a communication specialist. He said after independence, the capital-based Dhaka-Chattogram line would become a commercial corridor. “Making it economically profitable and reliable is a great way to transport passengers and goods faster. With that in mind, the cord line in Cumilla was proposed in the 80s.” “Of all the projects currently underway in the country, (this project) would have been the most promising. But for some unknown reason, it seems that this project is not being pursued on a priority basis.”

https://www.thedailystar.net/business/economy/industries/investments/news/batb-invest-tk-322cr-expansion-2140471 BATB to invest Tk 322cr for expansion Star Business Report Fri Jul 30, 2021 12:00 AM British American Tobacco Bangladesh (BATB) has made its second investment announcement in a span of six months, saying it was aimed at expanding for meeting growing demand from abroad. The cigarette maker yesterday made public plans over a Tk 322 crore investment in its Savar factory. Last February, it announced investing Tk 192.50 crore to increase its manufacturing capacity. Commercial operations at the plant is expected to start within October. As demand from abroad is rising, the investment is being increased step by step, said Company Secretary Md Azizur Rahman, adding that excess production capacity in absence of demand would have impacted cash flows. "We have to compete with Singapore, Malaysia and other developed nations but we are capable enough to compete so our demand is rising," he said. The company in recent months sent products to China, the Maldives and other countries despite the challenges of the pandemic, he said. "We are meeting our finance demand from internal sources mainly. If needed we will go to banks," said Rahman. "Our new planned expansion activities will take around one year for commercial operations to launch because there are many things to do," he said. "If our export surges then it would impact the whole economy positively because its linkage industry also will get a boost," he added. Meanwhile, the company disclosed its first half yearly financial reports for 2021. Its net revenue rose 25 per cent to Tk 3,841 crore from Tk 3,070 crore. During the same period, its profits rose 43 per cent to Tk 862 crore from Tk 600 crore. Profits were driven by growth in volume offset by growth in operating expenses, said its financial report. Stocks of the cigarette maker rose 0.27 per cent to Tk 567 yesterday.

Current condition of Airport Road after the country's first digital underpass and beautification at Dhaka MES https://www.youtube.com/watch?v=-g7XuaGpM2A

Madani Avenue Update https://www.youtube.com/watch?v=LKFLbXaAElk