Joel Ahmed

https://www.bd24live.com/bangla/518898/ ২৫ দিনে রেমিট্যান্স এলো প্রায় ১৭৩ কোটি ডলার প্রকাশিত: ১২:১৪ অপরাহ্ণ, ২৯ আগস্ট ২০২২ চলতি মাসের (আগস্ট) প্রথম ২৫ দিনে প্রবাসীরা ১৭২ কোটি ৯৩ লাখ ডলার রেমিট্যান্স পাঠিয়েছে। ডলার প্রতি ৯৫ টাকা ধরে যার পরিমাণ প্রায় সাড়ে ১৬ হাজার কোটি টাকা। রবিবার (২৮ আগস্ট) বাংলাদেশ ব্যাংকের রেমিট্যান্স-সংক্রান্ত এক প্রতিবেদনে এ তথ্য জানানো হয়েছে। বাংলাদেশ ব্যাংকের তথ্য অনুযায়ী, বরাবরের মতো এইমাসেও সবচেয়ে বেশি ৩৫ কোটি ৬২ লাখ ডলার রেমিট্যান্স এসেছে ইসলামী ব্যাংকের মাধ্যমে। এরপরই রাষ্ট্রায়ত্ত অগ্রণী ব্যাংকের মাধ্যমে এসেছে ১১ কোটি ডলার। সবমিলিয়ে রাষ্ট্রায়ত্ত পাঁচ ব্যাংকের মাধ্যমে এসেছে ৩১ কোটি ৫০ লাখ ডলার। বিশেষায়িত বাংলাদেশ কৃষি ব্যাংকের মাধ্যমে এসেছে ২ কোটি ১০ লাখ ডলার। আর বেসরকারি ব্যাংকগুলোর মাধ্যমে এসেছে ১৩৮ কোটি ৬৯ লাখ ডলারের রেমিট্যান্স। এর আগে, জুলাই মাসে প্রবাসী ২০৯ কো‌টি ৬৯ লাখ ডলার রেমিট্যান্স পাঠিয়েছে। জুনে পাঠিয়েছে ১৮৩ কোটি ৭২ লাখ ডলার। মে মাসে পাঠিয়েছে ১৮৮ কোটি ৫৩ লাখ ডলার।

https://today.thefinancialexpress.com.bd/first-page/power-gas-users-paid-tk-31535b-taxes-in-5-fys-1661710770 Power, gas users paid Tk 315.35b taxes in 5 FYs DOULOT AKTER MALA | August 29, 2022 00:00:00 Industrial and domestic consumers of two basic utility services - electricity and gas - paid Tk 315.35 billion taxes to the public exchequer with their consumption charges during the last five fiscal years (FY 2017-18 to FY 2021-22). The amount is equivalent to the tax revenue collection by the National Board of Revenue (NBR) from all the domestic and import sources in a month. Economists said tax burden on end-users is higher in Bangladesh, as the existing provisions have less refund or rebate facilities, imposing 'tax-on-tax' on consumers. According to the NBR data of consumers' tax collection during the last five FYs, the gas consumers paid the major amount of the taxes, as Value Added Tax (VAT) rate was 15 per cent on them. The gas consumers paid Tk 252.13 billion VAT to the five state-owned gas companies. Bangladesh Gas Field Ltd, Sylhet Gas Fields Ltd, BAPEX, Rupantarita Prakritik Gas Co Ltd, and Petrobangla deposited the consumers' VAT to the public exchequer. Besides, four power distribution companies collected Tk 63.22 billion VAT at a rate of 5.0 per cent since FY 18 for the public exchequer, the FE analysis found. Rural Electrification Board (REB), Dhaka Power Distribution Company (DPDC), Bangladesh Power Development Board (BPDB), and Dhaka Electric Supply Company (DESCO) deposited the VAT to the NBR. VAT collection from the gas consumers grew by 129.52 per cent last year. The power consumers also paid 1.57 per cent higher VAT last year, compared to that of the previous FY. Dr Ahsan H Mansur, Executive Director of the Policy Research Institute (PRI), said the VAT system is causing escalation of actual tax burden on the end-users. There must be scopes to obtain VAT rebate, whether it is at uniform rate or not, except some cases - so that the consumers can enjoy the reduced rate. Actual tax incidences sometimes increased to 35 per cent on the end-users, while 15 per cent is the highest rate of VAT in Bangladesh, he added. A senior VAT official said they detected that some of the state-owned enterprises (SoEs), involved in providing utility services, are spending their collected VAT for other purposes, violating the VAT law. Such trend has caused accumulation of a huge amount of arrear VAT lying with the SoEs. "Consumers are paying VAT with their gas or electricity bills, but it is not properly deposited to the public exchequer in due time." A huge amount of outstanding revenue with the SoEs is one the main reasons for missing the annual tax collection target, as the target is fixed by estimating collections from these sectors too, he added. Farid Uddin, former member of the NBR, said tax should be imposed at equal rates to all, irrespective of poor and rich, as per principle of the VAT law. But a question remains whether the country's economic situation supports it or not. VAT is a regressive tax, which is also slapped on numerous commodities, used by the low-income group of people too - considering the country's internal revenue mobilisation, he noted. VAT on utility services is refundable or adjustable for the industrial consumers, which manufacture goods. However, the end-users have no option to get rebate on their paid VAT on utility services. Four power distributing companies paid VAT worth Tk 9.78 billion in FY 18 that jumped by 48.77 per cent to Tk 14.55 billion in FY 22. Rural power consumers under REB paid Tk 1.34 billion VAT last year. However, their VAT payment declined by 35.44 per cent compared to that of the previous year. Electricity consumers in some parts of Dhaka city and Narayanganj under DPDC last year paid 10.09 per cent higher VAT worth Tk 4.85 billion, while those under BPDB paid Tk 5.86 billion. Consumer of DESCO, supplying power in major parts of the capital city and Tongi, paid VAT worth Tk 2.71 billion last year. Of the gas companies, VAT payment by RPGCL and BGFL declined by 37.05 per cent and 4.40 per cent respectively in last FY. The five state-owned gas companies paid Tk 32.39 billion VAT last year against Tk 11.11 billion in FY 21. However, VAT collection from the gas companies was not consistent during the last five years, as cash-strapped Petrobangla failed to deposit VAT regularly on several occasions. [email protected]

https://thefinancialexpress.com.bd/economy/bangladesh/indian-businesses-keen-on-large-scale-joint-venture-investments-in-bangladesh-1661689527 Indian businesses keen on large-scale joint venture investments in Bangladesh Published: August 28, 2022 17:34:01 | Updated: August 28, 2022 18:25:27 Indian entrepreneurs have expressed their interest in boosting bilateral trade and commerce through large-scale joint venture investments in Bangladesh. Bangladesh Investment Development Authority (BIDA) Executive Chairman Md Sirazul Islam unveiled the information while speaking at a press conference at BIDA conference room in Dhaka, reports BSS citing a press release. In his speech, Sirazul Islam said entrepreneurs from India are very interested in investing in Bangladesh and they offered to jointly invested Tk 8.0 billion with Bangladeshi institutions. Recently, a conference titled ‘Trade and Investment Prospects between India and Bangladesh’ was held in Jaipur, India. It was organised by the Confederation of Indian Industry (Cll) and India Bangladesh Chamber of Commerce and Industry (IBCCI). Today's press briefing was organised to inform about the outcomes of the conference. Sirazul Islam said the conference generated interest among the participants and at the end, nine memorandum of understandings (MoUs) and Expressions of Interests (EoIs) were signed between parties mostly for joint ventures ranging from three-wheeler (cargo) manufacturing, generators, and mustard oil plant to solar power to jewelry. "The amount involved is around Tk 8.0 billion. The enthusiasm shown in Jaipur led me to believe that Prime Minister's visit to Delhi in September, 2022 will create more interest among Indian investors," he added. Among others, IBCCI President Abdul Matlub Ahmed also spoke on the occasion.

https://www.thedailystar.net/tech-startup/news/palki-affordable-locally-assembled-electric-vehicle-its-way-3103341 Palki: An affordable locally assembled Electric Vehicle on its way Shahriar Rahman Fri Aug 26, 2022 12:30 AM Last update on: Fri Aug 26, 2022 08:59 PM In today's world, many countries are now changing lanes and embracing electric vehicles (EVs). In the past decade, we have seen a tectonic shift in the automotive industry - we have seen brands like Tesla, Rivian and NIO take off. We have also seen conventional automakers like Volvo, GM, Nissan and Ford fast-track their EV product line. Globally, electric vehicle sales figures have soared to a record high. Countries like Norway, Germany and Netherlands have adopted electric vehicles swiftly. Even in China, the electric car market own consists of 28% now, which is a massive pie compared to just five years back. In Bangladesh, where the automotive assembly industry is in its infancy, a local startup wants to change the scene. Challenging the status quo, Palki Motors, a homegrown startup, is planning to launch their very own locally assembled electric vehicle. Palki's flagship product is a four-door & four-wheel battery-swappable electric vehicle. The startup is on the verge of accepting pre-orders for their vehicles. Starting at a price Tk. 4.99 lakh, Palki has already generated quite a buzz amongst people seeking an affordable mode of transportation especially out of the capital. According to Mustafa Al Momin, Co-founder & CEO of Palki Motors, Palki has already gotten 600+ signups for their first car. Palki is right now undergoing assembly of their prototype vehicles which are based and modelled after generic Chinese electric vehicles. Palki Motors have already established an assembly shed in Sector 12 of Uttara and are nearly a couple of weeks away from a fully locally assembled prototype. Momin informed that 40% of the parts are made in Bangladesh while the rest of them are being imported from China and Taiwan for local assembly. When asked how he got the idea of coming up with this venture, Momin, a Grameenphone Accelerator Graduate, explained that it all started when he was looking for a reasonably cheap second-hand car. "Being an electrical engineer and an entrepreneur, I felt this was a huge addressable market. As electric vehicles do not need an engine, which is the most complex bit in any vehicle, it would be much more cost-effective and efficient to assemble an electric vehicle locally", Momin exclaimed. Momin previously worked with the BRAC University in 2013 as a student on their electric car project. After post-graduation in electrical engineering from the US, he came back and started working on CWork, a startup hatched out of Grameenphone's accelerator program. But due to the Covid-19 pandemic, Momin could not make it sustainable and hence had to close it down. Nonetheless, he is optimistic that his locally electric vehicles will be able to take off as Bangladesh has a huge untapped market for cost-efficient electric swappable battery-based vehicles. In this particular business model, electric vehicles, instead of charging, will swap a drained battery, with a new one. Momin and his team believes, with enough active sign-ups, this model will catch on peripheries where improperly engineered vehicles are already running. Palki comes with a 60V 100Ah lead acid battery which offers a driving range of up to 150 kilometres on a single charge. To fully charge its battery array, it takes around 6-8 hours. The service life of the lead acid battery is expected to be around 36,000+ kilometres. Meaning, with the changing of the battery, it will cost around Tk. 1.73 per kilometre, claimed Momin. He also said that as in Bangladesh vehicles are heavily taxed and soaring fuel prices are impacting the transportation industry, a good alternative would be locally assembled electric vehicles. So far Momin and his co-founders have invested around Tk. 26 lakhs in this project and expect to deliver the first finished product by this year. When asked whether this car would be street-legal, Momin informed that currently, Palki's electric vehicles are undergoing testing at Bangladesh Roads & Transportation Authority (BRTA) and Bangladesh University of Engineering Technology. Palkhi has already met more than 40% of the local standards, according to Momin. As the output of the motor of the electric vehicle is relatively low and the high speed of the vehicle is under 60 km/h, regulations are relatively lax. Once Palki gets the necessary approval, the venture plans to start delivering the first batch by the end of January 2023. The estimated time to deliver a single vehicle after pre-order is around 50-60 days. To pre-order, one must pay 10% of the price. Palki and its team expect their vehicles will be able to make a significant impact in Bangladesh's transportation industry.

https://www.tbsnews.net/bangla/অর্থনীতি/news-details-107934 টিবিএস রিপোর্ট 28 August, 2022, 02:05 pm Last modified: 28 August, 2022, 02:11 pm জানুয়ারি-মে মাসে বাংলাদেশ থেকে ইইউ-র পোশাক আমদানি বেড়েছে ৪৪.৯৫% ইউরোস্ট্যাটের মতে, এই সময়ের মধ্যে ইউরোপীয় ইউনিয়নের বৈশ্বিক পোশাক আমদানি ২৪ দশমিক ৩৭ শতাংশ পর্যন্ত বৃদ্ধি পেয়েছে। বাংলাদেশ থেকে ইউরোপীয় ইউনিয়নে (ইইউ) পোশাক আমদানি ৪৪ দশমিক ৯৫ শতাংশ পর্যন্ত বেড়ে চলতি বছরের জানুয়ারি-মে মাসে ৯.৫৮ বিলিয়ন ডলারে পৌঁছেছে। ইউরোপীয় পরিসংখ্যান সংস্থা ইউরোস্ট্যাটের সর্বশেষ পোশাক আমদানি পরিসংখ্যানে উঠে এসেছে এই তথ্য। ইউরোস্ট্যাটের মতে, এই সময়ের মধ্যে ইউরোপীয় ইউনিয়নের বৈশ্বিক পোশাক আমদানি ২৪ দশমিক ৩৭ শতাংশ পর্যন্ত বৃদ্ধি পেয়েছে। একই সময়ে চীন থেকে ইইউ-এর পোশাক আমদানি আগের বছরের একই সময়ের তুলনায় ২০ দশমিক ৬৭ শতাংশ বেড়ে ১০.১৯ বিলিয়ন ডলারে পৌঁছেছে। উল্লেখযোগ্য প্রবৃদ্ধি অর্জনকারী অন্যান্য দেশগুলো হলো কম্বোডিয়া (৩২ দশমিক ৬৮ শতাংশ), পাকিস্তান (২৯ দশমিক ২৮ শতাংশ), ইন্দোনেশিয়া (২৫ দশমিক ৩৬ শতাংশ), ভিয়েতনাম (২২ দশমিক ৩৪ শতাংশ) এবং মরক্কো (২০ দশমিক ০৫ শতাংশ)। 'আমদানি পরিসংখ্যান থেকে এখন পর্যন্ত ইইউ বাজারে বাংলাদেশের পোশাক ভালো অবস্থানে থাকার ইঙ্গিতই মিলে। কিন্তু সাম্প্রতিক ভূ-রাজনৈতিক উত্তেজনার কারণে খুচরা বিক্রেতারা বিশ্ববাজারের ক্রমবর্ধমান মূল্যস্ফীতির সঙ্গে খাপ খাইয়ে নিতে হিমশিম খাচ্ছে,' বলেন বাংলাদেশ পোশাক প্রস্তুতকারক ও রপ্তানিকারক সমিতি (বিজিএমইএ)-র পরিচালক মহিউদ্দিন রুবেল। তিনি বলেন, 'ইউরোপীয় অনেক ব্র্যান্ডের খুচরা বিক্রি কমায় তাদের ইনভেন্টরি স্টক বেড়েছে। এসমস্ত কারণ বিবেচনায় আগামী মাসগুলোতে ইউরোপীয় ইউনিয়নের বাজারে আমাদের রপ্তানি হ্রাস পেতে পারে'।

https://thefinancialexpress.com.bd/trade/bangladeshs-labour-rights-situation-delays-gsp-revival-1661567805 Asst USTR Christopher Wilson in exclusive interview with FE Bangladesh's labour rights situation delays GSP revival US traders want to see transparent regulatory environment in Bangladesh, says Christopher Wilson S M JAHANGIR and SYFUL ISLAM | Published: August 27, 2022 08:36:46 | Updated: August 27, 2022 18:06:55 Less-than-expected reform measures for ensuring labour rights hold back restoration of the Generalised System of Preferences (GSP) facility for Bangladesh by the United States, a top US trade official has said. "Bangladesh has taken some initial steps to amend its labour laws, but workers here continue to be subjected to unfair labour practices. They face retaliation too often when they complain or attempt to organise collectively for change," said Assistant US Trade Representative (USTR) Christopher Wilson. Mr Wilson arrived in Bangladesh Wednesday and had meetings with government officials of the ministries of ICT, agriculture, commerce, and foreign affairs as well as some business leaders. Data governance, technology, trade issues, and trade relationship, among others, came up for discussion during the meetings. The main purpose of his visit was stated to be helping bolster bilateral trade relations between the US and Bangladesh. Dhaka has requested for long restoration of the suspended GSP facility on the country's single-largest apparel market in particular. In an exclusive interview with The Financial Express, he said the government of Bangladesh indicated that additional labour-law amendments would take place soon. "While the US GSP programme has currently expired and needs to be reauthorised by the US Congress, we do intend to remain constructively engaged on these issues," he said while replying to a query on possibility of restoration of the GSP facility for Bangladesh. Mr Wilson noted that the inability to qualify for the GSP also prevented funding of development projects in Bangladesh by the US International Development Finance Corporation (DFC). When his attention was drawn to the desired outcomes of the Trade and Investment Cooperation Framework Agreement (TICFA), which Bangladesh and the US signed back in November 2013, he said the pact had been a valuable mechanism for organising positive trade dialogues and exploring ways to reduce barriers and expand trade. In 2013, the US suspended eligibility to receive benefits under the GSP citing lack of internationally recognised workers' rights in Bangladesh. "The US is committed to supporting Bangladesh's labour-rights journey, including through targeted development assistance." Mr Wilson mentioned that the US was Bangladesh's 'number-1' source of foreign direct investment (FDI) in 2021 with over US$585 million invested in one year. The US is also the largest historical source of FDI, with $4.3 billion total investment. The US businesses play a significant role in the development of Bangladesh's economy - from energy and financial services sectors to emerging technologies and digital economy. "There are several actions that Bangladesh can take to attract more investment. For instance, the US businesses want to see a transparent and predictable regulatory environment, and sound public procurement practices," he said, adding that these are some of the dos that can unlock more US investment here. The US remains a rapidly growing destination for Bangladeshi ready-made garment (RMG) export. Trade in goods between the two countries reached over $10 billion in 2021, and the US is looking to continue raising bilateral trade with Bangladesh, he noted. "Bangladesh is an attractive trade partner, because it has one of the fastest- growing economies in the world, a huge and growing middle-class population, and an eager and willing workforce." Responding to a question as to whether the US has any plan to offer any tariff preference to Bangladesh after its graduation from the least-developed country (LDC) status, the senior USTR official said in the US tariff preferences are the purview of the Congress, and country-specific preferences are not currently being considered. "I want to stress that the US is not going anywhere after Bangladesh graduates from the LDC status, and we will continue to work to increase bilateral trade and enhance economic growth. "We already have the foundation to expand our economic relationship. The US is willing to go as fast as Bangladesh wants to go - in order to deepen our trade and investment relationship." Asked whether the present US policy support would continue for boosting export of Bangladeshi RMG items to its market in future, Mr Wilson replied that the US is a top destination for Bangladeshi RMG export, but this is largely based on commercial demand. "One of the Biden administration's top economic priorities is supply-chain diversification for a range of critical technologies, health and pharmaceutical products, and a range of other important items. There will certainly be a market in the US - to the extent Bangladesh can build up these industries." On mandatory fumigation of the imported US cotton at Bangladeshi ports, he said the procedure is unnecessary because all the US cotton goes through multiple processes, including ginning and bale compression, which eliminate threat of harmful insects. Therefore, there is no threat of harmful pests arriving in Bangladesh through the US cotton. "Removing the requirement to fumigate the US cotton in Bangladesh would significantly benefit both of our economies. This will help reduce costs and ensure a stable supply of high-quality US cotton for use in the local RMG industry. I am hopeful that this matter will be resolved soon," he adds.

https://www.tbsnews.net/economy/rmg/apparel-exporters-fear-big-fall-us-market-484482 Jasim Uddin 26 August, 2022, 09:55 pm Last modified: 26 August, 2022, 09:59 pm Apparel exporters fear big fall in US market Apparel exporters fear a slump in shipments to the United States, their largest destination, as retailers in the market are witnessing low footfalls with consumers turning more cautious about discretionary spending on clothing amid a record high inflation. US clothing stores have already suffered significant sales drops in the second quarter (April-June) of 2022 owing to the ongoing economic slowdown. Industry people say the major US buyers, such as Walmart, Target, The Children's Place, Costco, TJX and Kohl's are cancelling orders in the face of falling clothing demand in the US. Other buyers are also cutting down on orders or requesting a halt to production that is in the process. Talking to The Business Standard, Shahidullah Azim, vice-president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA), said almost all buyers are now requesting deferred shipments, while a few are also cancelling orders. "This situation is unavoidable but we are aware of how to tackle this shock," he added. He added that buyers are now focusing on reducing dependence on the US and EU markets. Asian countries would be alternative markets for Bangladesh, he said, noting that apparel-makers have had good growth in Indian, Japanese and Korean markets in the last fiscal year. "Now, we are planning to increase market share in those destinations," he said. The BGMEA has plans to arrange a single-country expo to find out new buyers, he added. Mentioning that Gulf countries also have the same potential, Shahidullah Azim said buyers are also planning to participate in two expos in Saudi Arabia and Dubai this year. Fazlul Hoque, managing director of Plummy Fashions Ltd – the world's highest rated green knitwear factory, said, "To reduce dependence on two large markets is very important for the industry's survival. "We are looking for a new market to diversify the export destinations. We have confirmed a new buyer in Brazil." But not just in Brazil, there is also scope to gain a foothold in the South American market, said Fazlul Hoque, a former president of Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA). BKMEA Executive President Mohammad Hatem said the whole situation is getting worse due to global high inflation. "Buyers are not placing new orders, but despite that we are hopeful about going back to business after Christmas, as knitwear apparel is a mandatory item at any time," he noted. Kutubuddin Ahmed, chairman of Envoy Textiles Limited, the world's first LEED platinum certified denim textile facility, said, "It will be a big shock from our major destination, and we have no option but to wait and see the consequences." He also said the industry now has to invest more in research and development to produce more low-cost fabric as people's buying capacity is going down due to inflation; on the other hand, raw material prices have hiked at least 30% in the last one year. "As we are not a cotton producing country, we have no control over it but we have to find out how to reduce apparel making prices," he added. The ongoing downturn may continue for six months. So apparel exporters have to somehow survive this lean period, added Kutubuddin Ahmed, who is also a former president of BGMEA. The upcoming Christmas sales may help retailers clear their large volume of inventory, he said, adding that Bangladesh's apparel market is controlled by buyers and exporters have nothing to do when it comes to bringing them into business. US retailers grapple with poor sales According to the Markets Insider, Children's Place Inc, a pure-play children's specialty apparel retailer, reported that its second-quarter net loss was $13.30 million. For the first time, Bangladesh exports to a single country – the USA – crossed $10 billion in FY22. Of this $10 billion, $9 billion came from the RMG sector, according to the EPB. According to CNBC, US buyer Target's earnings have taken a huge hit as the retailer sold off unwanted inventory. Target said its quarterly profit fell nearly 90% from a year ago, as the retailer followed through on its warning that steep markdowns on unwanted merchandise to clear out a glut of unwanted inventory would weigh on its bottom line, CNBC reported. Walmart, one of the major US buyers of Bangladesh's readymade garments, officially announced that they will procure 30% less for the spring season as they have huge unsold inventory. Walmart has cancelled billions of dollars in orders as part of a continued effort to align inventory levels and pursue the demands of budget-conscious consumers. The company's executives said the US retailer has cleared out most of its summer collections ahead of the back-to-school season – which has begun in large parts of the South – and the upcoming holiday period. As per Yahoo Finance, the TJX Companies reported second-quarter fiscal 2023 results, with the bottom line beating the Zacks Consensus Estimate. The company reported net sales of $11,843 million, down 2% from $12,077 million. Total US comparable-store sales declined 5% in the second quarter of fiscal 2023, compared with a 21% increase in US open-only comp store sales in Q2 of last year. The top line declined and missed the consensus mark as US comp sales were dented by escalated inflation, which affected consumer discretionary spending. The company raised its fiscal 2023 pretax profit margin. However, the company lowered its full-year adjusted earnings and US comp store sales guidance range.

https://www.tbsnews.net/bangladesh/transport/dhaka-ctg-rail-line-be-broad-gauge-2027-484746 Saifuddin Saif 27 August, 2022, 12:45 pm Last modified: 27 August, 2022, 12:47 pm Dhaka-Ctg rail line to be broad gauge by 2027 The conversion will increase the speed of trains on the Dhaka-Chattogram route which will reduce the distance by about an hour Bangladesh Railways is going to convert the Dhaka-Chattogram railway line from metre gauge to broad gauge by 2027 as the Asian Development Bank (ADB) has given primary assurance to finance the project. Under the project, the railway lines from Laksham to Chattogram and from Tongi to Akhaura would be turned into broad gauge with an estimated cost of Tk30,207 crore. As per the Railway Master Plan, the conversion of the Dhaka-Chattogram railway line is supposed to be completed by 2025, but the project could not start on time due to a lack of foreign loans. Railway officials said the conversion of the railway line would create direct rail links between Chattogram and Rajshahi, and Chattogram and Khulna. Currently, railway lines in the eastern region are in metre gauge, while the broad gauge tracks are mostly in the railway's western region. The upgradation of the railway line will allow plying of high-speed broad gauge trains on the Dhaka-Chattogram route, which will reduce the travel time by about an hour. It will also enable the trains to transport 30% more passengers and goods, said railway officials. SM Salimullah Bahar, chief planning officer of Bangladesh Railway, told The Business Standard that the authorities have adopted a masterplan to gradually convert the rail network across the country into broad gauge, in which the Dhaka-Chattogram route has been given utmost priority. He said, "The project to convert the Akhaura-Laksham railway line to dual gauge is in the final stage. Although plans were made a few years ago, the conversion works in the Tongi-Akhaura and Laksham-Chattogram sections could not be started as there were no foreign loans." If the loan agreement with the ADB is finalised on time, work on converting the Dhaka-Chattogram railway line to broad gauge is expected to be completed by 2027, he added. Recently, the ADB has assured Bangladesh of providing $300 million in loan for the Laksham-Chattogram dual gauge project in 2023 and $200 million for the first phase of the Tongi-Akhaura dual gauge project in 2024. Later, the agency is expected to approve more funds for these projects. According to the preliminary project proposal, the conversion of the 93-km meter gauge line from Tongi to Akhaura to dual gauge double line will cost Tk14,587 crore. Around 85% of the cost has been proposed to be sourced from development partners. On the other hand, the cost of converting the Laksham-Chattogram rail line to broad gauge has been estimated at Tk15,620 crore, 85% of which is planned to be borrowed from foreign lenders. According to sources, feasibility study and detailed designing for the conversion of the Tongi-Akhaura and Laksham-Chattogram railway lines have already been completed under a project with the financial assistance of the ADB. Meanwhile, the construction of a dual gauge double line from Akhaura to Laksham and the conversion of the existing railway line to dual gauge started in 2014. A 72-km line will be converted to broad gauge under the project. Project Director Shahidul Islam said 84.5% of the project was completed till July this year. The ADB has provided a Tk5,478 crore loan for this project that involves a total cost of Tk6,504.54 crore. New cord line to connect Cox's Bazar Meanwhile, the railway authorities have planned to construct a new broad gauge cord line through Pahartali to Dohazari to connect Dhaka-Chattogram and Cox's Bazar rail line only in broad gauge. Currently, the construction of a new rail line in broad gauge from Dohazari to Cox's Bazar is ongoing with financial assistance from ADB. Besides, another project titled conversion of existing Chattogram-Dohazari metre gauge track into dual gauge track and connecting Dohazari towards Dhaka in Chattogram has also been proposed with an estimated cost of Tk10,048 crore. People concerned said the broad gauge line in the entire eastern region up to Cox's Bazar will remove the obstacles of constructing the Trans-Asia Railway Connectivity which will connect Bangladesh with China, Pakistan, India and Myanmar. Railway officials said that the healthy growth of the railway network naturally contributes to the economic development of the country as it is a very important mode of inland transport.

https://dhakamail.com/offbeat/36154 গাড়ির বাতাসের চাপে বিদ্যুৎ উৎপন্ন করে আন্তর্জাতিক পুরস্কার আসাদুজ্জামান লিমন প্রকাশিত: ২৫ আগস্ট ২০২২, ০৯:২৮ এএম হাইওয়ে বা মহাসড়ক দিয়ে প্রতিদিন হাজার হাজার গাড়ি চলে। এগুলো দ্রুতগতিতে গন্তব্যে ছুটি যায়। গতির কারণে হাইওয়ের দুই পাশে প্রচণ্ড বাতাসের চাপ সৃষ্টি করে। বায়ুর এই চাপ কাজে লাগিয়ে আইডিইবির রিসার্চ অ্যান্ড টেকনোলজিক্যাল ইনস্টিটিউটের ৩ ইনোভেটর টারবাইন উদ্ভাবন করেছেন। যা থেকে বিদ্যুৎ উৎপন্ন হবে। এই উদ্ভাবন আন্তর্জাতিক স্বীকৃতি পেয়েছে। থাইল্যান্ড শিক্ষা মন্ত্রণালয়ের অফিস অব দ্যা ভোকেশনাল এডুকেশন কমিশনের উদ্যোগে গত ১৬-১৯ আগস্ট দেশটির থাইল্যান্ডের পাংগা প্রদেশে দ্যা সেভেন্থ ইন্টারন্যাশনাল কনভেশন অন ভোকেশনাল স্টুডেন্টস ইনোভেশন প্রজেক্টের সপ্তম আসর অনুষ্ঠিত হয়। এই প্রতিযোগিতায় ছয়টি দেশের শিক্ষার্থীরা দুইটি ক্যাটাগরিতে ৯৪টি রিসার্চ প্রকল্প নিয়ে অংশগ্রহণ করে। যেখানে ইঞ্জিনিয়ারিং ক্যাটাগরি থেকে বাংলাদেশের প্রজেক্ট ‘হাইওয়ে উইন্ড টারবাইন দ্বিতীয় স্থান অর্জন করেছে। বাংলাদেশ ছাড়াও থাইল্যান্ড, সিঙ্গাপুর, চীন, জাপান, ভারত, থেকে ৪০০ জন শিক্ষার্থী তাদের উদ্ভাবিত ইনোভেশনগুলো এই প্রতিযোগিতায় অংশ নেয়। এবার বাংলাদেশের পক্ষে ইনস্টিটিউশন অব ডিপ্লোমা ইঞ্জিনিয়ার্স, বাংলাদেশের (আইডিইবি) চার সদস্যের একটি প্রতিনিধিদল থাইল্যান্ডে গিয়ে অংশগ্রহণ করে। প্রতিনিধি দলের সদস্যরা হলেন- আব্দুল্লা আল আরাফ, রাহাত উদ্দিন, রেজাউল খান ও টিম লিডার মো. কামরুজ্জামান। প্রতিনিধিদলের সদস্যরা আইডিইবি আইওটি অ্যান্ড রোবটিক্স রিসার্চ ল্যাবে উদ্ভাবিত হাইওয়ে উইন্ড টারবাইন প্রকল্প রিসার্চ পেপারসহ উপস্থাপন করেন। থাইল্যান্ড সরকারের শিক্ষা উপমন্ত্রী ড. খুনাইং কালায় সোফোনপানিচ বাংলাদেশ টিমের প্রকল্প দেখেন ও বিভিন্ন বিষয়ে পরামর্শ দেন। তরুণদের উদ্ভাবিত উইন্ড টারবাইনে দেওয়া হয়েছে বেশ কিছু আইওটি সেন্সর। যার সাহায্যে ওই মহাসড়কের তাপমাত্রা, বাতাসের আদ্রতা ও কার্বনডাইঅক্সাইডের পরিমান জানা যাবে। যা মহাসড়কের আশেপাশের মানুষদের অ্যাপের মাধ্যমে সরবরাহ করবে। হাইওয়ের বাতাসের চাপ থেকে বিদ্যুৎ উৎপন্ন করার এই প্রকল্পের নেতৃত্ব দিয়েছেন রাহাত উদ্দিন। যিনি ঢাকা পলিটেকনিক ইনস্টিটিউট থেকে ডিপ্লোমা ইঞ্জিনিয়ারিং শেষ করেছেন। এখন প্রেসিডেন্সি ইউনিভার্সিটিতে ইলেট্রিক্যাল অ্যান্ড ইলেট্রোনিক্স ইঞ্জিনিইয়ারিংয়ে বিএসসি করছেন। রাহাত ঢাকা মেইলকে বলেন, দেশে জীবাশ্ম জ্বালানি নিঃশেষ হওয়ার পথে। এই সময়ে নবায়নযোগ্য জ্বালানি ব্যবহারের তাগিদ উঠেছে। যা জ্বালানি নিরাপত্তা নিশ্চিত এবং কার্বন-ডাই-অক্সাইড নিঃসরণ হ্রাস করার অন্যতম উপায়। পৃথিবীর অন্যান্য দেশের তুলনায় বায়ু বিদ্যুৎ উৎপাদনে আমরা অনেক পিছিয়ে আছি, কারণ এখানে কিছু সমস্যা বিদ্যমান। প্রথমত আমাদের দেশে যে টারবাইনগুলো ব্যবহার হচ্ছে এগুলো আকারে অনেক বড়। রক্ষণাবেক্ষণ খরচও অনেক বেশি। এই টারবাইনগুলোর জন্য অনেক বেশি পরিমানে বাতাসের চাপ প্রয়োজন। এতে করে দেশের ভেতর বায়ু বিদ্যুৎ কেন্দ্র স্থাপন করতে পারিনি। এছাড়া এই টারবাইনগুলোর ব্লেড পাখির জন্য বিপদজনক। তাই এই সব কিছু বিবেচনা করে আমরা একটি টারবাইনের ডিজাইন করি, যা আমাদের হাইওয়ে এবং নৌপথে জাহাজ গুলোতে স্থাপন করে বিদ্যুৎ উৎপাদন করা সম্ভব। প্রকল্পের অন্যতম সদস্য আব্দুল্লা আল আরাফ। যিনি ঢাকা পলিটেকনিক ইনস্টিটিউট থেকে ডিপ্লোমা ইঞ্জিনিয়ারিং শেষ করে এখন সাউথ ইউনিভার্সিটিতে কম্পিউটার সাইন্স অ্যান্ড ইঞ্জিনিইয়ারিং ডিপার্টমেন্টের শিক্ষার্থী। তিনি জানান, এই প্রকল্পের মূল উদ্দ্যেশ হচ্ছে দেশে বায়ু বিদ্যুৎ উৎপাদনের পদ্ধতিকে আরো সহজ করা। যাতে করে দেশে সোলারের পাশাপাশি বায়ু বিদ্যুৎ জনপ্রিয় হয়ে উঠে। এই প্রকল্পের আরেকটি উদ্দেশ্য হচ্ছে- সেন্সরের মাধ্যমে বাতাসে কার্বনের পরিমান ও বায়ু দূষণের পরিমাণ সম্পর্কে মানুষকে জানানো। প্রকৌশল শিক্ষার্থীদের দাবি তাদের উদ্ভাবিত টারবাইন দিয়ে ১০০০ ওয়াট পর্যন্ত বিদ্যুৎ উৎপাদন করা সম্ভব। যেই বিদ্যুৎ দিয়ে ১০টি এলইডি লাইট জ্বালানো যাবে। বড় আকারে প্রকল্পটি বাস্তবায়িত হলে বিদ্যুতের স্থানীয় চাহিদা মিটিয়ে জাতীয় গ্রিডে সরবরাহ করা যাবে। কম খরচে হাইওয়ে ও নৌযানে উইন্ড টারবাইন উদ্ভাবনে দলটির মেন্টর হিসেবে ছিলেন ইউনাইটেড ইন্টারন্যাশনাল ইউনিভার্সিটির কম্পিউটার সাইন্স অ্যান্ড ইঞ্জিনিইয়ারিং ডিপার্টমেন্টের প্রফেসর ড. খন্দকার আব্দুল্লা আল মামুন।

সেপা কী? ভারতের সঙ্গে বাংলাদেশের এই চুক্তি লাভ না ক্ষতি? | দৃশ্যপট | CEPA Deal | India Bangladesh

https://www.thedailystar.net/tech-startup/news/buet-graduates-robotics-startup-raises-20m-series-investment-3103351 Spotlight BUET graduate’s robotics startup raises $20M in Series A investment Toggle Desk Fri Aug 26, 2022 12:02 AM Last update on: Fri Aug 26, 2022 11:18 AM Co-founded by BUET graduate Ariyan Kabir, GrayMatter Robotics is a smart automation provider that develops AI-based tools and robotic assistants to make manufacturing tasks more efficient. The company recently raised a $20M Series A investment led by Bow Capital and joined by B Capital Group, Calibrate Ventures, OCA Ventures, Pathbreaker Ventures, Stage Venture Partners and 3M Ventures. Swift Ventures joined the financing round as well. According to Ariyan, the latest funding will help GrayMatter Robotics in expanding the team and enhancing the product, support, services and fuel deployments of smart robotic cells. "We are improving shop workers' lives by enhancing their productivity and enabling them to focus on higher-value tasks," he stated in a press release. Ariyan believes that owing to the increasing labour shortage, the global economy benefits a lot from automated surface finishing and treatment - crucial roles in modern manufacturing industries. Last year, the company raised $4.1M in seed rounding funding led by Stage Venture Partners and Calibrate Ventures. B Capital Group, OCA Ventures, Pathbreaker Ventures and 3M ventures were also investors in this round. GrayMatter Robotics also received the RBR50 Robotics Innovation Award, which recognises creative and influential robotic-based innovations. The AI startup also received the NSF SBIR (Small Business Innovation Research) Phase 1 and Phase 2 grants, which helped them develop the core technology behind their robotic tools. As per a previous report by The Daily Star, GrayMatter Robotics utilises commercially available robots and sensors to build software that helps with industrial manufacturing. The process involves machine vision and path planning to identify a unique robotic part's geometry, enabling the automation tool to automatically pick up and process what material to use. The program then tells the robot arm to move in the correct direction and perform the intended operation.

https://www.dhakapost.com/national/137706 রেলওয়ে প্রকল্পে দুর্নীতির অভিযোগ, প্রজেক্ট অ্যাডমিনের অবস্থান নিজস্ব প্রতিবেদক ২৬ আগস্ট ২০২২, ০১:০০ পিএম ঢাকা-টঙ্গী-জয়দেবপুর নতুন রেল লাইন নির্মাণ প্রকল্পে ব্যাপক অনিয়ম হওয়ার অভিযোগ করেছেন প্রকল্পটির অ্যাডমিন কর্মকর্তা নাদিম মাহমুদ মোসলেম। তিনি বলেছেন, এই প্রকল্পের কাজে নিম্নমানের নির্মাণ সামগ্রী ব্যবহার করা হচ্ছে। রয়েছে আর্থিক দুর্নীতিও। শুক্রবার (২৬ আগস্ট) সকালে জাতীয় প্রেস ক্লাবের সামনে অবস্থান কর্মসূচী পালনকালে নাদিম মাহমুদ মোসলেম এসব অভিযোগ করেন। নাদিম ঢাকা পোস্টকে বলেন, এপকন্স ও ক্যাপিটাল জেবি নামে দুটি ভারতীয় কোম্পানি এই প্রকল্পের কাজ করছে। পাঁচ বছরে প্রকল্পটির কাজের অগ্রগতি ৩০ শতাংশও হয়নি। টঙ্গী থেকে আব্দুল্লাহপুর পর্যন্ত যে বেডের কাজ হয়েছে, তা সঠিকভাবে হয়নি। তিনি বলেন, যেভাবে বেড খনন করা, মাটি ও বালি দেওয়া, সাবব্লাশ ও ব্লাশ দেওয়ার কথা, সেভাবে কাজ পরিচালনা করা হয়নি। এছাড়া প্রকল্পের কাজে তেমন কোনো সেফটি নেই। রেলওয়ে থেকে বহুবার নোটিশ দেওয়ার পরও কোম্পানি দুটি কোনো ব্যবস্থা নেয়নি। প্রকল্পের অ্যাডমিন বলেন, কর্মকর্তাদের দুর্নীতি ও অনিয়মের প্রমাণ আমার কাছে আছে। প্রকল্পটিতে বাংলাদেশের ১৩৪ জন কাজ করেন। কিন্তু চাকরির ভয়ে কেউ কথা বলছেন না। আমার কাছে মনে হয়েছে, দেশের একজন নাগরিক হিসেবে এর প্রতিবাদ করা দরকার। তাই আমি রাস্তায় দাঁড়িয়েছি। যাতে করে দুর্নীতি অনিয়ম আর না হয়। তিনি আরও বলেন, এ বিষয়ে রেলমন্ত্রী ও দুদকের কাছে লিখিত অভিযোগ দেবো। প্রশাসনের কাছে আমি প্রমাণপত্রগুলো দাখিল করব। আইবি/এমএইচএস

https://www.thedailystar.net/opinion/views/news/imf-loan-talks-we-need-prepare-3103171 IMF Loan Talks: Here's how we need to prepare Ahmad Ahsan Thu Aug 25, 2022 10:00 PM Last update on: Fri Aug 26, 2022 12:17 AM Two points stand out in the International Monetary Fund's (IMF) statement from last week about the current economic situation in Bangladesh. First, Bangladesh is "not in a crisis situation." Second, any economic programme to address the current challenges to our economy will be the government's programme. Specifically, the statement said, "It is the authority's programme and our efforts will be focused on collaborating with them to design a programme which will support them in addressing their long-term structural issues." Bangladeshi economists have also pointed out we are not in a crisis but facing difficult external conditions that need firm handling so that they do not become one. With four to five months of foreign exchange reserves and low foreign debt, we have enough ammunition to address short-term needs, barring other big shocks. As announced by the Fund, the discussions on this programme will take place in October. With these positive developments and government actions to lower imports, such as depreciating the currency and allowing banks to trade more freely, the dollar kerb market is calmer. As I write, the dollar has fallen there – i.e., the taka has regained value – by 10 percent over the last 10 days. At the same time, as the government knows, there is no room for complacency or errors made in haste. Instead, let us use the current challenge to strengthen our economy. As a previous August 3 IMF statement puts it, the reality is that our economy faces "a sharp deterioration in external conditions." The immediate issue is not foreign debt but rather the record-breaking trade deficit of USD 33 billion and the current account deficit of USD 19 billion – i.e., the deficit even after including the USD 22 billion of remittances receipts sent by heroic Bangladeshi workers abroad. To put things in perspective, last year's current account deficit increased nearly five times over the FY 2021 deficit and is almost four times the average current account deficit of the past five years. Current account deficits are fundamentally the result of spending more than our income or, what is the same, importing more goods and services than we export. So, managing the current account will mean that our imports will need to grow markedly less than our exports in the next few years. The immediate driver behind the high external deficits has been the spike in energy, fertiliser, food, and edible oil import prices. But that is not all. Even without these import price increases the current account deficit of FY 2022 would have been significant – perhaps twice that of the previous year. That is because long-pending unaddressed structural weaknesses have made the economy and exports less diversified and competitive. These problems include low revenues and inadequate public expenditures, made worse by weak management; a strained financial sector burdened by non-performing loans, weak governance and interest rate caps; weakness in infrastructure, energy and urban development planning – all of which lower our economy's competitiveness. More fundamentally, an insufficiently trained labour force and a burdensome investment climate constrain our economy, as evidenced by the minimal foreign direct investment inflows. These are not long-term but pressing matters. Because of these weaknesses, we excessively depend on foreign services and skilled expatriate workers. Thus, our gross external payments for these services have almost doubled over the past five years to approximately USD 14 billion. One driver of our large deficit is that our real exchange rate appreciated by more than 70 percent over the past decade, which made imports cheaper and our exports more expensive. That needed a correction. The depreciation of the taka by about 10 percent over the past few months has been one response. However, signalling that the exchange rate may still be unsettled, the kerb rate premia – the difference between the interbank rate and the kerb rate – remains at about 14 percent. Thus, we will need realistic thinking. Assuming that energy prices will steadily decline is not warranted, given that winter is coming to Europe and North America. Even if Iranian oil enters the global market, it will provide only one percent of demand. European countries are stocking up and contracting oil and LNG supplies to avoid the perils of an unheated cold winter. Facing these conditions and high inflation, European and American demand for our exports will likely be subdued, even with some switching to our cheaper garments products. A global food shortage and rising prices are also all but guaranteed. Together, these ingredients can lead to deeper and longer-term economic difficulties and even a crisis for globalised developing economies such as ours. Further, economic events during times of uncertainty, such as now, can be sudden and unexpected, as we have already discovered. It becomes critical for governments to stay ahead of events by preparing a well-coordinated programme to stabilise the economy and be ready for contingencies. How should the government prepare such a coherent, well-coordinated programme? There needs to be three elements in it. First, as good civil servants will tell you, strong political leadership will be imperative. For speed and authority, it may be best to organise a small economic committee of ministers that has the confidence of the prime minister to prepare and implement such a programme. They and their civil service team should prepare large parts of the economic stabilisation and recovery policy package in advance of the IMF's visit, negotiate with them when they arrive, and steer it through Cabinet approval. That will enable better coordination and political support. Leaving this task alone with the Ministry of Finance and the Bangladesh Bank could slow things. A historically good example of this comes from India during its foreign exchange crisis of 1991, when, with the support of the IMF, they prepared and implemented a path-breaking economic reforms package. Reputed Indian economists say that was the programme that generated 20 years of rapid economic growth. That reform programme was almost wholly Indian prepared by then Finance Minister Manmohan Singh with the partnership of Commerce Minister P Chidambaram, with technical inputs provided by then Finance Secretary Montek Ahluwalia and other civil servants. Certainly, the steadfast political support of PM Narasimha Rao made it possible. Other examples are Thailand's Cabinet Committee for Economic Policy, Indonesia's Industry and Economic Committee, and Malaysia's Special Cabinet Committee to protect the Economy and Labour market against Covid-19. Who should be the members of such a committee in Bangladesh? The ministers of finance, agriculture, commerce and planning perhaps, along with the participation of the Governor of the Bangladesh Bank. The Foreign Ministry can advise on fraught matters such as assuring Europe and the US if we import oil from Russia. Including the road transport and bridges minister can provide political heft. Second, while the finance minister does not need to be the chair of such a committee, the secretariat of this committee has to be the Ministry of Finance, and it has to be staffed by the most experienced civil servants in finance and the other ministries. Finance, in particular, is a ministry where nothing can replace the experience of working there for years. Difficult policy decisions about revenues, expenditure, subsidies, exchange rates, interest rates, bank governance, food and energy prices, regulations and safety nets will be needed. Only civil servants with the experience and knowledge of their subject will have the confidence to lay down situations and options most starkly to their political superiors. If this link in the chain falls, the political masters will be uninformed and blindsided. Third, outside experts and stakeholders need to be consulted not only for their advice, but also to communicate the objective situation and get their support. Bangladesh has several former governors, finance secretaries and other civil servants who have effectively dealt with the IMF and with difficult economic situations in the past. We also have competent economists, including some with first-hand experience working in crisis-prone countries. Bangladesh also has thoughtful stakeholders in the chambers of commerce and business associations who can offer valuable perspectives. Finally, major political figures should also be taken into confidence to at least attempt to get unity behind the recovery programme. Dr Ahmad Ahsan is the director of the Policy Research Institute (PRI) of Bangladesh and a former World Bank economist and Dhaka University faculty member. Views expressed in this article are the author's own.

https://www.tbsnews.net/bangladesh/greece-start-recruiting-bangladeshi-workers-soon-greek-migration-minister-484110 TBS Report 26 August, 2022, 10:05 am Last modified: 26 August, 2022, 10:08 am Greece to start recruiting Bangladeshi workers soon: Greek migration minister Notis Mitarachi, the Greek minister for migration and asylum, has said that a scheme to offer seasonal worker visas to thousands of Bangladeshis will start this fall. However, some migrants are critical of such a plan, adding that it offers no long-term security, the minister added while speaking with the InfoMigrants. Bangladesh and Greece signed a memorandum of understanding (MoU), which was projected in order to bring to the Hellenic Republic 4,000 workers from Bangladesh annually in a lawful way on 9 February this year. The agreement was signed in Dhaka by Bangladesh Expatriates' Welfare and Overseas Employment Minister Imran Ahmad, as well as his Greek counterpart Panagiotis A Mitarakis. "Bangladeshi workers will be provided with a 5-year temporary work permit. Under the agreement, seasonal workers will be hired in the agricultural sector," the Bangladesh expatriate ministry pointed out in this regard. The Migration Minister of Greece, Notis Mitarachi, has confirmed that the scheme that will start this fall is a legal pathway for all people to work in the Hellenic Republic without relying on people smugglers. About 30,000 citizens from Bangladesh are currently living in the Hellenic Republic, based on the figures provided by the Bangladesh Embassy in Athens, while the same source notes that nearly half of them are believed to not have legal status. Such an agreement reached between Greece and Bangladesh comes after a large number of migrants from Bangladesh took risky journeys in order to reach Greece. Authorities in the Hellenic Republic have argued that the seasonal worker visa scheme, which is confined to the agricultural sector at present, is in line with the policy described as strict but fair by authorities in Greece. "Greece does not accept illegal migration. We protect our borders. We do not allow smugglers to select who comes to Europe," Mitarachi told InfoMigrants. It has been confirmed that the conditions for undocumented migrants from Bangladesh who receive the regular status will be the same, meaning that they will be permitted to stay in the Hellenic Republic for five years as seasonal workers, doing agricultural work for a period of nine months. In this regard, Mitarachi stressed that Greece is the first European country to give a long-term seasonal visa, offering migrants dignity and security.

https://www.tbsnews.net/bangladesh/earnings-inbound-visitors-grew-59-last-year-484098 Kamran Siddiqui 26 August, 2022, 10:00 am Last modified: 26 August, 2022, 12:40 pm Earnings from inbound visitors grew 59% last year The contribution of inbound visitors to the national exchequer grew around 59% year-on-year in 2021, thanks to the roll-out of massive vaccination across the South Asian region that also successfully contained the pandemic. Earnings from inbound visitors amounted to a little over TK2,279 core last year in contrast to Tk1,196 crore in 2020 ((10 months), according to data from the Bangladesh Bank collected by Bangladesh Tourism Board. Industry insiders have attributed such a growth mainly to business travellers and foreigners working in Bangladesh or engaged in humanitarian activities as the pandemic had barred leisure tourists from entering the country. In 2020 and 2021, leisure tourists hardly visited the country owing to Covid-19. Those who came to the country were foreigners who work in Bangladesh on tourist visas, non-resident Bangladeshis and business travellers, Masud Hossain, an inbound tour operator and managing director of Bengal Tours, told The Business Standard. "Last year, altogether 10 people came to Bangladesh for travel purposes via my company. The number was more than 500 before the pandemic hit," he added. In the meantime, Bangladesh Tourism Board has not updated data on international tourists after December 2021, according to sources knowledgeable about the matter. To regularly update data of tourist arrivals in the country, the tourism board is now willing to develop a software with the assistance of the special branch of Bangladesh police, emulating the models of countries such as India, the Maldives, Nepal, Sri Lanka, Nepal, Malaysia, Indonesia and Thailand. In 2020, the inbound tourism sector suffered a 35% negative growth year-on-year. The inbound tourism sector's contribution to the national exchequer stood at around Tk1,860 crore in 2019, Tk2,950 crore in 2018, TK2,445 crore in 2017, Tk866 crore in 2016, Tk696 crore in 2015, Tk528 crore in 2014 and Tk623 crore in 2013. "Earnings do not go up only because of a rise in the number of tourists. We rather have to see from which country more tourists have come. For example, an Indian tourist does not spend money equal to what an American one does," Assistant Director of Bangladesh Tourism Board Md Mazharul Islam told TBS. Despite its vast potential, Bangladesh could not yet become a popular destination for foreign tourists in comparison to its neighbouring countries owing to poor tourism and airport infrastructure, complex visa policies, social restrictions and a lack of comfortable transportation facilities, according to experts. Bangladesh received three lakh in-bound tourists in 2019, the highest in its history since independence. The figures earlier were 2.48 lakh in 2018, 2.2 lakh in 2017, 1.69 lakh in 2016, 1.18 lakh in 2015. In 2019, the number of Indian tourists was 270,024, or 89% of the total inbound tourists, according to the tourism board. Toufiq Rahman, an inbound tour operator and general secretary of Pacific Asia Travel Association (Pata) Bangladesh Chapter told TBS, "Only 30,000-40,000 foreigners would come to Bangladesh for purposes of travel in pre-Covid times." As the Padma Bridge has opened, the number of Indian and Nepalese tourists is expected to go up by 25-50% in the coming days, said Indian diplomats in Dhaka and Bangladeshi diplomats in New Delhi, Guwahati and Kolkata. Professor Akbaruddin Ahmad, former president of Tour Operators' Association of Bangladesh, said, "Indian and Nepalese tourists will be interested in visiting Bangladesh through the Padma Bridge. The government is even planning to connect the southern-western part of the country with the capital through improved road and railway networks in phases." The government is also upgrading Mongla Port, making it an international port, with a view to easing the pressure on Chattogram Port. With the emergence of a rising upper- and middle-class in the country in the last 15-20 years and construction of hundreds of cottages, hotels and motels, local tourism has also had an uplift, he added. Bangladesh Tourism Board is now working on preparing a master plan under the Seventh Five-Year Plan to develop the sector in the next 25 years.

https://www.tbsnews.net/bangladesh/greece-start-recruiting-bangladeshi-workers-soon-greek-migration-minister-484110 TBS Report 26 August, 2022, 10:05 am Last modified: 26 August, 2022, 10:08 am Greece to start recruiting Bangladeshi workers soon: Greek migration minister Notis Mitarachi, the Greek minister for migration and asylum, has said that a scheme to offer seasonal worker visas to thousands of Bangladeshis will start this fall. However, some migrants are critical of such a plan, adding that it offers no long-term security, the minister added while speaking with the InfoMigrants. Bangladesh and Greece signed a memorandum of understanding (MoU), which was projected in order to bring to the Hellenic Republic 4,000 workers from Bangladesh annually in a lawful way on 9 February this year. The agreement was signed in Dhaka by Bangladesh Expatriates' Welfare and Overseas Employment Minister Imran Ahmad, as well as his Greek counterpart Panagiotis A Mitarakis. "Bangladeshi workers will be provided with a 5-year temporary work permit. Under the agreement, seasonal workers will be hired in the agricultural sector," the Bangladesh expatriate ministry pointed out in this regard. The Migration Minister of Greece, Notis Mitarachi, has confirmed that the scheme that will start this fall is a legal pathway for all people to work in the Hellenic Republic without relying on people smugglers. About 30,000 citizens from Bangladesh are currently living in the Hellenic Republic, based on the figures provided by the Bangladesh Embassy in Athens, while the same source notes that nearly half of them are believed to not have legal status. Such an agreement reached between Greece and Bangladesh comes after a large number of migrants from Bangladesh took risky journeys in order to reach Greece. Authorities in the Hellenic Republic have argued that the seasonal worker visa scheme, which is confined to the agricultural sector at present, is in line with the policy described as strict but fair by authorities in Greece. "Greece does not accept illegal migration. We protect our borders. We do not allow smugglers to select who comes to Europe," Mitarachi told InfoMigrants. It has been confirmed that the conditions for undocumented migrants from Bangladesh who receive the regular status will be the same, meaning that they will be permitted to stay in the Hellenic Republic for five years as seasonal workers, doing agricultural work for a period of nine months. In this regard, Mitarachi stressed that Greece is the first European country to give a long-term seasonal visa, offering migrants dignity and security.

https://www.bd24live.com/bangla/517516/ সম্পাদনাঃ তুহিন ভূইয়া সাব এডিটর গম ও ভুট্টা চাষে কৃষকরা পাবেন এক হাজার কোটি টাকার ঋণ প্রকাশিত: ৬:৪৮ অপরাহ্ণ, ২৫ আগস্ট ২০২২ https://www.bd24live.com/bangla/wp-content/uploads/2022/08/gum-butta.jpg কৃষকদের ঋণ দেওয়ার জন্য এক হাজার কোটি টাকার তহবিল গঠন করেছে বাংলাদেশ ব্যাংক। মাত্র চার শতাংশ সুদে গম ও ভুট্টা চাষীদের এই ঋণ দেওয়া হবে। বৃহস্পতিবার (২৫ আগস্ট) এ সংক্রান্ত একটি নীতিমালা জারি করেছে। বাণিজ্যিক ব্যাংকগুলোর প্রধান নির্বাহীদের কাছে পাঠানো এ সংক্রান্ত সার্কুলারে বলা হয়েছে, দেশে গম ও ভুট্টার পর্যাপ্ত চাহিদা থাকলেও এই শস্যগুলোর উৎপাদনের পরিমাণ যথেষ্ট নয়। এ কারণে দেশে গুম-ভুট্টা ও এগুলো থেকে উৎপাদিত খাদ্য দ্রব্যাদির সরবরাহ স্বাভাবিক রাখার লক্ষ্যে প্রতিবছর গম ও ভুট্টা আমদানি করার জন্য উল্লেখযোগ্য পরিমাণ বৈদেশিক মুদ্রা ব্যয় করতে হয়। এ প্রেক্ষিতে দেশে গম ও ভুট্টা উৎপাদন বৃদ্ধি করতে এক হাজার কোটি টাকার একটি পুন:অর্থায়ন স্কিম গঠনের সিদ্ধান্ত হয়েছে। বাংলাদেশ ব্যাংক নিজস্ব তহবিল থেকে এই ঋণ দেবে যার মেয়াদ ২০২৫ সালের ৩০ জুন পর্যন্ত। তবে প্রয়োজনে স্কিমের মেয়াদ বৃদ্ধি করা যাবে। এই স্কিমের আওতায় অংশগ্রহণকারী ব্যাংকগুলো নিজস্ব নেটওয়ার্কের মাধ্যমে সরাসরি কৃষক পর্যায়ে ঋণ বিতরণ নিশ্চিত করবে। গম ও ভুট্টা চাষের উপযোগী অঞ্চলকে এই স্কিমের আওতায় ঋণ বিতরণে অগ্রাধিকার দিতে হবে। ভূমিহীন কৃষক, ক্ষুদ্র ও প্রান্তিক কৃষক এবং বর্গা চাষিদের জামানতবিহীন সর্বোচ্চ ২ লাখ টাকা পর্যন্ত এই তহবিল থেকে ঋণ দেওয়া যাবে।

https://thefinancialexpress.com.bd/economy/bangladesh-to-get-easier-access-to-uk-market-in-post-ldc-era-1660709186 UK's new trading scheme Bangladesh to get easier access to UK market in post-LDC era DCTS comes into force in early 2023, replacing GSP FE REPORT | Published: August 17, 2022 10:06:27 | Updated: August 21, 2022 21:10:12 The United Kingdom (UK) on Tuesday launched the Developing Countries Trading Scheme (DCTS), offering 65 developing countries, including Bangladesh, an easier market access to their market with reduced tariff rates and simpler terms of trade. "Bangladeshi businesses will have easier access to UK markets under the new scheme," said British High Commissioner in Dhaka Robert Chatterton Dickson. "Even after Bangladesh graduates from the least developed country (LDC) status in 2026, it will retain duty-free access to the UK for 98 per cent of its products, including ready-made garments." Mr Dickson said the DCTS will harness the power of trade and the private sector to enable developing countries like Bangladesh to grow and prosper. The UK is one of Bangladesh's biggest export markets with annual trade partnership worth over $4.0 billion. "We look forward to increasing trade in both directions as an increasingly prosperous Bangladesh buys more high quality UK goods and services," he said in a communication, following the launching of the scheme. The DCTS will be one of the most generous sets of trading preferences of any country in the world, helping to grow trade, boost jobs and drive economic growth, said a spokesperson at the British High Commission in Dhaka. He said the new scheme will replace the UK's Generalised Scheme of Preferences (GSP) and will come into force in early 2023, the spokesperson added. This new scheme demonstrates the UK's commitment to strengthening a longer-term and mutually beneficial economic relationship with Bangladesh, he added. The DCTS will provide a clearer and streamlined trading arrangement for Bangladesh thanks to simplified and more flexible rules of origin, making it easier to produce goods using components from other countries without losing duty-free status. Under the scheme, Bangladesh will continue to benefit from duty-free exports to the UK on everything but arms. The DCTS contributes to developing countries' integration into the global economy, creating stronger trade and investment partners for the future. It also reflects the UK's commitments on human rights and labour standards, incorporating powers to alter trade preferences in the event of serious human or labour rights violations. The DCTS will also support the UK's obligation on anti-corruption, climate change and environment conventions. [email protected]

https://www.tbsnews.net/economy/uk-continue-duty-free-market-access-bangladesh-after-ldc-graduation-481830 TBS Report 22 August, 2022, 06:10 pm Last modified: 22 August, 2022, 06:18 pm UK to continue duty-free market access to Bangladesh after LDC graduation According to the new scheme, 98 percent of Bangladesh’s products will be eligible for the duty benefit after LDC graduation The UK will continue to provide Bangladesh with duty-free access to its market after the country's graduation from the LDC category. British High Commissioner to Bangladesh Robert Chatterton Dickson said this while responding to a query from Acting President of BGMEA Shahidullah Azim about the duty-free market access for Bangladesh after the LDC graduation. The British government has announced a new scheme named "Developing Countries Trading Scheme" in place of the existing GSP. According to the new scheme, 98 percent of Bangladesh's products will be eligible for the duty benefit after LDC graduation. The British High Commissioner spoke on different issues and answered various questions from stakeholders including political leaders, business leaders, economists, academia and journalists at a program titled "Meet the Ambassador" organized by the Centre for Governance Studies (CGS) in cooperation with Friedrich-Ebert-Stiftung Bangladesh in Dhaka on 22 August. Shahidullah Azim said the UK is the 3rd largest export destination for Bangladesh's RMG with exports of 4.49 billion dollars in the last fiscal year 2021-2022, and the bilateral economic relationship between the two countries has been growing significantly over the past decades. "As we are preparing for the next growth phase of our industry, we have set priorities to enhance our business capabilities, particularly in the areas of diversification of products, investment in high-end textile sectors through innovation, value-addition, and upgrading technologies," he added. He expressed thanks to the British government for the new scheme, saying that it would support Bangladesh in enhancing trade significantly. He hoped that the friendly support of the British government for the development of Bangladesh would continue in the coming years. Dr. Manjur A Chowdhury, Chairman, Zillur Rahman, Executive Director of the Centre for Governance Studies and Shadhan Kumar Das, Program Co-coordinator of Friedrich-Ebert-Stiftung Bangladesh, among others, were present at the program.

https://www.dhakatribune.com/power-energy/2022/08/25/bangladesh-entering-the-gigawatt-club Bangladesh entering the gigawatt club Very few solar plants across the world produce more than 1,000MW from a single unit Special Correspondent August 25, 2022 9:00 PM For the first time since the country introduced solar systems in 1996, Bangladesh has received several proposals from foreign and local private firms willing to set up 1,000MW solar power plants – thanks to the government’s timely steps to shift to clean energy in phases. According to several highly-placed officials asking not to be named, the government received at least three such proposals seeking unsolicited bids to implement the projects, each of which may need an investment of over Tk15,000 crore or over $1.5 billion and vast land. The proposed locations are Zajira in Shariatpur, Saral of Banshkhali in Chittagong and Swarna Dwip (formerly Jahazzair Char) in Noakhali. There are very few solar plants across the world producing more than 1,000MW from a single unit – with China, India and the UAE leading the race, and are working to expand the capacity to 5,000-10,000MW in the next few years. On the other hand, Bangladesh gets around 230MW of electricity from eight grid-tied solar plants. Shariatpur district on the southern side of the Padma Bridge does not have any power plants. On the other hand, Swarna Dwip island still has vast land suitable for installing solar panels. Banshkhali will see its first mega power plant, two coal-fired units each with a capacity of 660MW, go into operation this year. If approved, the 1,000MW solar plant will be set up at Saral Union of the upazila. Bangladesh Army’s 33rd Infantry Division has been in charge of the 370sq-km island since 2013 and has been implementing different development projects alongside setting up a base for exercises. In February this year, the US-based Pacific Energy Group, LLC (Pacific Energy), through its subsidiary Eleris Energy Limited, Hong Kong, signed a Joint Venture Agreement (JVA) with the Bangladesh Army Welfare Trust, on building the plant. Of the 11 other proposals currently being reviewed by the government, Sreemangal in Moulvibazar has been proposed for a 300MW plant, Mongla in Bagerhat for 200MW, and Gaibandha and Thakurgaon for two 200MW plants. The other plants have an estimated capacity of 10-70MW, several senior officials concerned told Dhaka Tribune. Bright future The contribution of solar energy to the national grid is negligible – around 1% of total daily generation of around 12,000-14,000MW. In FY2017-22, generation by solar plants increased marginally – from 38MW in 2020 to 230MW in 2022. In the last couple of years, many local and foreign investors have expressed interest in setting up large-scale solar plants. During this time, eight solar parks have been established and these are now adding around 230MW to the national grid every day. The government has already cancelled at least 10 coal-power projects of more than 8,000MW capacity to meet the country’s climate change commitments. Bangladesh now produces over 890MW from renewable sources – a meagre 2.9MW from wind energy, 230MW from the country’s lone hydropower plant at Kaptai in Rangamati and the rest from solar parks. The country’s largest grid-tied solar power plant, producing around 100MW of electricity in Mongla of Bagerhat, came into operation in December last year. The 3.28MW plant at Sarishabari in Jamalpur is the country’s first grid-tied solar power facility that came into commercial operation in 2017. The other key players operating solar parks are the consortiums of HETAT-DITROLIC and IFDC Solar (50MW in Mymensingh), Spectra Engineers Limited and Shunfeng Investment Limited (35MW in Manikganj); Joules Power Limited (20MW in Cox’s Bazar), and Parasol Energy Ltd (8MW in Panchagarh). Since 1996, the number of Solar Home Systems (SHS) units has now reached a whopping 6,037,601-mark. Meanwhile, the off-grid generation of electricity from SHS, irrigation and rooftop units, street lights and solar-powered telecom BTS amounts to 351MW, according to the Sustainable and Renewable Energy Development Authority (Sreda). There are some 2,592 solar irrigation units producing 48.14MW; some 296,861 street lights with a capacity of 17.07MW; 115 rooftop units (except for net metering) of 14.20MW and 1,933 solar-powered telecom BTS generating 8.06MW.

https://www.tbsnews.net/economy/bangladeshs-external-conditions-stabilise-year-sp-483998 TBS Report 25 August, 2022, 10:00 pm Last modified: 25 August, 2022, 10:19 pm Bangladesh's external conditions to stabilise in a year: S&P Bangladesh's economic recovery remains on a sound footing despite an elevated current account deficit and declining foreign exchange reserves, and real GDP growth is expected to average 7% per year over the next three years, says S&P Global Ratings. In its latest report released Thursday, the rating agency expected that Bangladesh's external conditions would gradually stabilise over the next 12 months with solid economic growth continuing to support gradual fiscal consolidation. The rating agency kept its outlook stable for Bangladesh reaffirming 'BB-' long-term and 'B' short-term sovereign credit ratings. S&P Global Ratings said high commodity prices, surging domestic demand, and tighter monetary conditions are exerting pressure on Bangladesh's external profile. "Bangladesh's net external debt position has weakened. A longer period of high commodity prices and extremely strong import demand could give rise to additional weakness in the Bangladeshi taka and a sustained drain on foreign exchange reserves, which would further undermine Bangladesh's external buffers," said the agency. "Despite its moderate net debt position, the Bangladesh government's interest burden is considerable. Its foreign currency-denominated debt, though predominantly borrowed from multilateral and bilateral sources, is subject to exchange rate risk." The normalisation of economic activity domestically and abroad is supporting strong momentum in Bangladesh's labour market and export industries. However, Bangladesh's highly concentrated political landscape may constrain the effectiveness of institutions and limit checks and balances on the government, said the credit rating agency.

https://www.dhakatribune.com/business/2022/08/25/high-taxes-prevent-tourists-from-coming-to-bangladesh High taxes prevent tourists from coming to Bangladesh VAT and other taxes on hotels, motels, and goods associated with the tourism industry are much higher than those of other countries Tribune Desk August 25, 2022 3:24 PM Current value added tax (VAT) and other high tax rates were found to be major obstacles to developing Bangladesh's tourism industry, a parliamentary body said on Wednesday. VAT and other taxes on hotels, motels, and goods associated with the tourism industry are much higher than those of other countries. This is a major obstacle to attracting foreign tourists, said the parliamentary standing committee on civil aviation and Tourism Ministry. In a meeting at Jatiya Sangsad, with Awami League lawmaker RAM Obaidul Muktadir Chowdhury in the chair, it was said the municipality and city corporation have started the process of collecting holding tax at a new rate and 5% tax from those staying in hotels or motels, which will directly hinder the industry's development. In the meeting, Bangladesh Parjatan Corporation said tourism is one of the fastest growing sectors in the world. But in Bangladesh, taxes are levied at various levels, including service sub-sectors, such as hotels, motels, restaurants, and amusement parks. In many cases, taxes are taken from service providers and receivers of the same service, meaning that double taxation is taking place, the organization said. It was mentioned that Bangladesh Parjatan Corporation has to pay 15% VAT, 5% supply tax on purchased goods, and 5% on the revenue received. Due to giving so much VAT and income tax in addition to paying salaries and allowances, the existence of the corporation has become impossible, the corporation added. According to the committee, authorities should take an integrated approach to keep taxes at a tolerable level in all the related sectors, including the various service sub-sectors in the tourism industry. The meeting recommended taking necessary measures by holding a meeting involving Dhaka north and south city corporations, the Finance Ministry and the National Board of Revenue. About the obstacles in Cox's Bazar, lawmaker Obaidul said although the 24-hour security system has been beefed up in the location, there is no means of recreation at night, and that is why tourists usually stay in the hotel area. The committee also recommended demolishing all old infrastructures in Cox's Bazar and building a modern tourist city.

https://www.thedailystar.net/news/bangladesh/development/news/8th-bangladesh-china-friendship-bridge-pirojpur-set-open-sep-4-3102981 8th Bangladesh-China Friendship Bridge in Pirojpur to open on Sep 4 Tuhin Shubhra Adhikary Thu Aug 25, 2022 06:03 PM Last update on: Thu Aug 25, 2022 07:41 PM Photo taken from the Facebook page of Embassy of the People's Republic of China in Bangladesh The much-awaited Bekutia Bridge, formally known as the 8th Bangladesh-China Friendship Bridge, in Pirojpur is set to be opened on September 4. Prime Minister Sheikh Hasina will virtually open the bridge, Sultana Yasmin, joint secretary of the Road Transport and Highway Division, confirmed to The Daily Star today. The division today held a meeting after the prime minister gave consent to the date, sources at the Roads and Highways Department (RHD), the implementing agency of the project, said. However, opening dates for two other major bridges – Kalna Bridge in Narail and 3rd Shitalakhya Bridge in Narayanganj, construction of which is now at the final stage – are yet to be set, Sultana said. Project Director Abdul Awal Molla said there will be a stage at the project site on the day of the inauguration. RHD in October 2017 undertook the project to build the bridge over the Kacha river. Currently, people have to use ferries to cross the river. The cost of the project is Tk 894 crore, of which China has provided Tk 654 crore as a grant and thus the bridge is named the 8th Bangladesh-China Friendship Bridge. However, the physical work of the project started in July 2018. The main structure of the 1,493m bridge, with a 495m viaduct, became fully visible in December last year. The bridge will not only establish Pirojpur's direct connection with Barishal city, but it will also connect Barishal with Khulna. Mongla port and the under-construction Payra port would also be connected by the bridge, and commute from Khulna and other western areas of the country to Kuakata, a top tourist destination, will be easier, RHH officials said.

https://www.tbsnews.net/bangladesh/only-income-generating-loans-will-be-taken-development-partners-lgrd-minister-483982 TBS Report 25 August, 2022, 09:55 pm Last modified: 25 August, 2022, 09:59 pm Only income generating loans will be taken from development partners: LGRD minister He said this yesterday speaking as chief guest at a discussion on 'Bangabandhu's work and biography’ and Doa Mahfil programme Only those investments which would be profitable for the country, or income generating, will be taken from development partners after scrutiny, said Local Government, Rural Development and Cooperatives Minister Md Tajul Islam. The minister also said various development partners, including different countries and organisations, expressed interest in investing about $11 billion in the overall development of the country, including the development of infrastructure. He said this yesterday speaking as chief guest at a discussion on 'Bangabandhu's work and biography' and Doa Mahfil programme, said a press release. The local government division organised the programme at the Department of Public Health and Engineering in the capital on the occasion of National Mourning Day. The minister said, "If we invest money given by development partners in various productive sectors, then the country will be in a profitable position even after paying off the loans. Loans are taken by all countries for the development of their countries, welfare of their people, to improve their standard of living. Loans of all countries are paid by their people, because the money that the government uses to repay the debt is basically the people's money." He said some people cannot appreciate the unprecedented development that has taken place in the country under the leadership of Prime Minister Sheikh Hasina. After the assassination of Bangabandhu on 15 August in 1975, the development of the country stopped, he continued. The country turned from poor to poorer, he went on. The country was known as a nation of beggars and poor people at that time, he said. The Public Health Engineering Department's Chief Engineer, Md Saifur Rahman, LGED Chief Engineer Sheikh Mohammad Mohsin, National Institute of Local Government Director General Saleh Ahmad Mozaffar, and Dhaka WASA Managing Director Taqsem A Khan, also spoke at the programme chaired by Local Government Division Secretary, Mohammad Mezbah Uddin Chowdhury.

https://www.tbsnews.net/nbr/nbr-fears-revenue-loss-if-project-implementation-slows-483986 TBS Report 25 August, 2022, 10:00 pm Last modified: 25 August, 2022, 10:03 pm NBR fears revenue loss if project implementation slows The NBR chairman has ordered tax officials to increase field level supervision to increase revenue collection Slowing the implementation of less important projects in the current fiscal year might have a negative impact on revenue collection, fears the officials of the National Board of Revenue (NBR). The government has decided to slow down implementation of less important projects to cope up with the decline in the country's dollar reserve. Besides, collection of value added tax (VAT) from large taxpayers is not going on as per expectations, which was discussed yesterday at a meeting of tax officials presided over by NBR Chairman Abu Hena Md Rahmatul Muneem at the Rajaswa Bhaban in Segunbagicha, Dhaka. The NBR chairman has ordered tax officials to increase field level supervision to increase revenue collection, said sources present at the meeting. On condition of anonymity, an NBR member present at the meeting told The Business Standard, "Government expenditure will drop if the implementation of less essential projects is slowed down in the current year. The government used to collect the VAT deducted at source from the material suppliers of these projects. There is a concern that the amount of VAT collected in this way might decrease this year." According to sources, the issue of drop in VAT collection from a number of large taxpayers including the cigarette companies was also discussed in the meeting. The NBR aims to collect Tk3.7 lakh crore revenue in the current fiscal year. About Tk1.37 lakh of that amount will be collected as VAT.