Bangladesh RMG

RMG workers in a Bangladesh factory. BBN file photo.

Dhaka, Bangladesh (BBN) – The BBN (Bangladesh Business News) has prepared the morning business round up compiling reports, published by different newspapers and news portals in Bangladesh.

50% garment units yet to come under safety efforts
Around 50 per cent of the readymade garment factories in the country still remain under safety risk as nearly 2,200 units are yet to undergo either any remediation work or safety assessment. Following the 2013 Rana Plaza building collapse that killed more than 1,100 people, mostly garment workers, European retailers formed the Accord on Fire and Building Safety in Bangladesh while North American retailers instituted the Alliance for Bangladesh Workers Safety and the initiatives launched safety inspections at more than 2,300 RMG factories in Bangladesh.

NBR: Upcoming budget to be investment-friendly
NBR Chairman Md Nojibur Rahman has said the upcoming budget would be pro-people and investment-friendly. “The budget is going to be more business-friendly. This time it will be production-oriented as well,” the NBR chief said while addressing a pre-budget meeting with the Chittagong Chamber of Commerce and Industry (CCCI) on Sunday. The CCCI organised the view-exchange meeting at Bangabandhu Conference Hall of World Trade Centre in the city.

Workers’ database yet to come through
The BGMEA was looking for just 20 names from each of the five factories housed in Rana Plaza to provide compensation under its group insurance policy, but it could not find any. There were no hard or soft documents that could give the identities of the 1,134 deceased workers from the industrial accident four years ago, which was amongst the worst the world has seen. “We weren’t getting even a single name,” said an official of the Bangladesh Garment Manufacturers and Exporters Association engaged with the process at that time.

Drug admin fixes stent prices of 37 brands
The Directorate General of Drug Administration (DGDA) Sunday fixed the coronary stent prices of 37 brands imported by 15 companies. The number of brands was increased from 26 to 37 in the 3rd expert committee meeting, with director general Major General Mustafizur Rahman in the chair.

Bangladesh’s stock turnover hits fresh 5-month low
Bangladesh’s stocks extended the losing spell for the fourth session on Sunday with turnover dipping below fresh five months low as investors reluctant to put funds on stocks amid prolonged bearish trend in the market. Brokers said gradual decline in turnover and stocks price indicates that most of the investors remained on the sidelines and observing the market movement carefully amid lack of market triggers.

Draft law on EPZ to be reviewed
The government has withdrawn the draft of the Export Processing Zone law from parliament for a review by the prime minister, said a top official of the labour and employment ministry yesterday. The move was prompted by the European Union’s threat to suspend Generalised System of Preferences (GSP) for Bangladeshi products if the labour law is not amended by mid June this year.

Import payment surges 20pc in Mar on Ramadan
Import bill payment in March surged by 20.46 per cent year-on-year due to a rise in payment of bills for food products imported to meet up demand in the upcoming Ramadan, the fasting month for Muslims. According to the latest Bangladesh Bank data, the total import bill payment stood at $3.74 billion in March this year from $3.10 billion in the corresponding month of 2016.

Good governance alongside growth imperative
Former adviser of caretaker government Dr. Akbar Ali Khan laid emphasis on ensuring good governance alongside the country’s economic growth. “Not only economic growth, ensuring good governance is also important,” he said Sunday at a working session on ‘Can Bangladesh continue to grow without good governance’, an annual event of the Bangladesh Institute of Development Studies (BIDS).