Dhaka, Bangladesh (BBN) - The BBN (Bangladesh Business News) has prepared the morning news highlights compiling reports, published by different newspapers and news portals in Bangladesh.
BPC in trouble due to pvt import of furnace oil
The government's decision to allow the private sector to import furnace oil has given rise to problems in fuel-supply chain for oil-fired power plants. The decision has resulted in oversupply of the fuel leading to payment of heavy demurrage to foreign oil tankers by the Bangladesh Petroleum Corporation (BPC). The state-run BPC is now struggling with its imported furnace oil as its principal buyer, the Bangladesh Power Development Board (BPDB), is not lifting furnace oil in accordance with its previous commitment, BPC chairman AM Badrudduja alleged.
Two-thirds of Dhaka Wasa area lacks drainage
Life in Dhaka city virtually comes to a standstill every time there is a monsoon rain. Many areas go under water due to scanty storm drainage system and the indiscriminate filling up of water retention areas by private and government entities over the years. Shantinagar, Khilgaon, Bashabo, Malibagh, Shantibagh, Rajarbagh, Mughdah, Mohammadpur, Badda and different parts of Old Dhaka are among the areas that experience the worst of waterlogging after a shower. Just a third of the 360-square kilometre Wasa service area is covered by storm-water drainage system. The Dhaka master plan area, however, is 1,528 sq km, officials said. Wasa has a storm-water drainage system master plan for the capital, but its implementation will depend on the availability of funds, they added.
Bangladesh to build elevated expressway with $796m Chinese loan
The government has approved a US$796 million loan from China Development Bank (CDB) for building the Dhaka Elevated Expressway (DEE) to help ease the traffic troubles on the city roads, officials said. The Italian-Thai Development PLC has formed a company locally, named, the First Dhaka Elevated Expressway Company Ltd that has already been registered with the Registrar of Joint Stock Companies and Firms and the Board of Investment. The loan was approved at a meeting of the scrutiny committee for approval of foreign loans or supplier’s credits, held in the central bank headquarters in Dhaka on June 15 with its chairman and Bangladesh Bank Governor Dr Atiur Rahman in the chair.
Essentials prices jump despite govt assurance of stability
The prices of essential commodities including aubergine and green chilli jumped in the city’s kitchen markets over the week as Ramadan, the fasting month for the Muslims, began on Friday. Aubergine price increased by 130 per cent to Tk 100-Tk 110 a kilogram in the week ending Friday from Tk 40-Tk 45 a kg in the previous week. The price of green chilli rose by 100 per cent to Tk 60 a kg from Tk 30-Tk 35 a kg.
BBA seeks to hike Padma Bridge cost to buy vehicles
The Bangladesh Bridge Authority (BBA) has proposed to spend Tk 358.9 million from the fund of the Padma Multipurpose Bridge (PMB) project for purchasing vehicles, fuels and their maintenance, officials said Friday. Officials said the BBA has recently sought revision of the PMB project cost hiking it by nearly 40 per cent to Tk 287.93 billion. The cost after the first revision of the project in 2011 had stood Tk 205.07 billion.
Iftar delicacy of Old Dhaka
The smell of piyaju or beguni or succulent jilapi being fried on a stove was all around the city since mid-afternoon yesterday. Traders were preparing the traditional iftar items in hundreds of makeshift shops all over the city in front of markets and mosques, and at intersections. Most restaurants, even many tiny tea stalls put a table in front and sold common iftar delicacies. Fasting city dwellers enthusiastically snapped up these traditional iftar items on the first day of Ramadan with an extra fervour as it was also the day of Juma prayers.
IndustriAll, UNI concerned over Bangladesh finance minister’s remarks
Two global trade unions have expressed their grave concern over the recent observation of Bangladesh Finance Minister AMA Muhith on the Accord’s activities, saying such remarks would send a ‘negative’ signal to the buyers thus undermining the ongoing workplace safety initiatives. Citing media reports, the unions said the finance minister in a recent meeting with the leaders of BGMEA (Bangladesh Garment Manufacturers and Exporters Association), BKMEA (Bangladesh Knitwear Manufacturers and Exporters Association) and BTMA (Bangladesh Textile Mills Association) characterised the Bangladesh Accord on Fire and Building Safety, generally known as Accord as a ‘noose for the apparel industry’.
Public servants’ provident fund management authority coming
The government has decided to create separate authorities to manage public sector provident and pension funds, according to a Finance Division official. Finance Division Senior Secretary Mahbub Ahmed said: “We want to create two separate authorities to manage government employees’ provident and pension funds.” There will be more emphasis on the use of the provident fund for commercial purposes like share market investments and investments in the country’s infrastructure, he said.
BBN/SSR/AD