Surcharge-free asset limit to be hiked to Tk 2.25cr
June 2, 2015
The government is likely to increase the limit of net assets for imposing wealth surcharge to Tk 2.25 crore from existing Tk 2 crore in the proposed national budget for financial year 2015-2016, said officials of the finance ministry. Currently, people having net assets worth Tk 2 crore or above pay wealth tax ranging between 10 per cent and 25 per cent based on Read more
Revenue, investment, fair price for farmers key challenges: CPD
June 2, 2015
New Fiscal Year
Revenue, investment, fair price for farmers key challenges: CPD
Revenue growth, tapping more foreign assistances, sluggish exports in the US market, ensuring fair prices for farmers and accelerating private investment would be key challenges for the government in the new fiscal year. The Centre for Policy Dialogue has identified the challenges in its review report on the country’s economy it released at a programme in the capital Read more
Farm loan disbursement drops, default rises in 10 months
May 22, 2015
Defaulted loan in the agriculture sector increased by 3.10 per cent in the first 10 months of the current financial year 2014-15 compared with that of corresponding period of the FY14 while farm loan disbursement decreased by 5.71 per cent as the recent political unrest disrupted marketing of agricultural products. According to the latest Bangladesh Bank data, the defaulted Read more
RMG factory repair works go slow, says Accord
May 22, 2015
Only 20 per cent of remediation work has been completed in the readymade garment factories that supply products for the European brands and retailers as the work is going on a slow pace due to unwillingness of factory owners as well as some technical problems. At a press conference marking the second anniversary of Accord on Fire and Building Safety in Bangladesh, Read more
Bangladesh awaits FDA’s nod for pharma exports to US: FM
May 22, 2015
Bangladesh is now waiting for final approval of US Food and Drug Administration to export pharmaceutical products to their market, foreign minister AH Mahmood Ali said on Thursday. ‘We are waiting for the USFDA’s final concurrence to enter that market with pharmaceuticals goods,’ he said at the monthly luncheon meeting of the American Chamber of Commerce Read more
Body formed for feasibility study for offloading more state power cos
May 22, 2015
The government has taken a fresh move to offload shares of more state-run power companies in the capital market to mobilise funds for their expansion and implementation of development projects. An inter-ministerial meeting, with the state minister for power, energy and mineral resources Nasrul Hamid in chair, on Thursday decided to examine the feasibility of offloading Read more
BTRC plans to auction 2 licences
May 21, 2015
Mobile tower Business
BTRC plans to auction 2 licences
The Bangladesh Telecommunication Regulatory Commission has decided to go for an open auction to award two licenses which will allow new independent companies to build and manage mobile network towers. BTRC officials said the regulator finalised a guideline at a regular meeting of the commission last week presided over by the BTRC chairman Sunil Kanti Bose. Read more
BB asks Farmers Bank to remove EC committee chairman Chisty
May 21, 2015
TK 50 Crore Loan Anomalies
BB asks Farmers Bank to remove EC committee chairman Chisty
Bangladesh Bank has asked the Farmers Bank Ltd to remove its executive committee chairman Md Mahabubul Haque Chisty for his involvement in irregularities for disbursing Tk 50 crore loans. The BB issued a letter to the Farmers Bank chairman Mohiuddin Khan Alamgir on May 17, asking him to remove Chisty from the EC within 10 days. The BB said Read more
Dhaka stocks down on profit-taking sales
May 21, 2015
Dhaka stocks inched down on Wednesday as a section of investors went for profit taking share sell-offs after a sharp rise in share prices in last couple of trading sessions, market operators said. The key index of Dhaka Stock Exchange, DSEX, closed at 4,455.57 points, shedding 0.08 per cent or 3.71 points. DSEX in last 11 trading sessions gained 495.84 points including Read more
GB finally gets tax exemption for 6 months with retrospective effect
May 21, 2015
The National Board of Revenue has finally provided Grameen Bank with exemption from paying income tax for the period of six months with retrospective effect from January to June 2011. The revenue board issued a statutory regulatory order in this connection on May 11, one year after making the decision on the issue in a board meeting held in June last year. Read more