Dhaka, Bangladesh (BBN) – The country’s leading economists Sunday cautioned about external risks over growing private sector borrowing from international sources and the fresh move of launching US$ 500 million state-sponsored ‘sovereign bond’. They said the central bank should not allow borrowing from external sources by private entities that do not produce export items or by a management that does not have adequate expertise in handling such funds.
It comes as a shock for those who believe Bangladesh has made remarkable progress in food production. A new study has found that over the years, rice production has been reported noticeably inflated. At least in one year, it was inflated as much as 3.5 million tonnes. On the other hand, consumption has also been shown at least about 10 percent less than actual.
The government yesterday increased fares of long-distance bus by 10 paisa per kilometre, 17 days after the latest hikes in fuel prices.This means inter-district passengers will have to pay Tk 1.45 instead of Tk 1.35 a km from tomorrow, when the hike takes effect, Communications Minister Obaidul Quader said after a meeting on re-fixing the fare at his ministry.
Premier Bank Limited has filed a criminal case against nine of its officials for misappropriating nearly BDT 600 million between 2011 and 2012. The case was lodged with the Motijheel Police Station by a senior executive vice-president of the bank on Sunday, a police officer confirmed.
Bank borrowing of the government in the first half of the current fiscal year was to the tune of Tk 79.26 billion or only 35 per cent of total yearly target set to be borrowed from banking sector.
Energy Ministry convened a meeting for Monday to discuss the nine-point demand of the leaders of Bangladesh Petrol Pump and Tank Lorry Owners-Workers Unity Council in order to bring an end to the ongoing petrol pump strike. The meeting will be held Monday afternoon at its conference room where all the top leaders of the Unity Council have been invited, a senior official of the Energy Ministry confirmed.
The taskforce formed by the Bangladesh Garments Manufacturers and Exporters Association to ensure fire safety in the garment factories has made little headway as it is working in a slow pace.
The central bank is now working on memos of maximum four proposed banks including the NRB Commercial Bank Limited, to be submitted in its the next board meeting on February 3 for approval, officials said. The Bangladesh Bank (BB) officials have expected that a few number of banks including the NRB Commercial Bank might get the final nod from the board meeting after complying with all the preconditions successfully.
BBN/SSR/AD-21Jan13-9:00 am (BST)
