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.
Businesses on same page with govt over VAT law
Businesses are on board with the government’s plan to introduce four different rates of value-added tax (VAT) from July, clearing the way for the implementation of the much-talked about VAT law 2012. As per the scheme, there will be four different rates of VAT applied on most of the goods and services under the existing VAT law 1991: 5 percent, 7.5 percent, 10 percent and 15 percent.
Govt moves to amend labour rules
The government has started process to amend Bangladesh Labour Rules 2015 in line with Bangladesh Labour (amended) Act 2018 aiming at making the rules time befitting. The labour ministry has recently formed a 10-member committee headed by an additional secretary to amend the labour rules in line with the amended labour act.
Interest rate of bank loan ‘to be brought down’
Expressing her government’s firm stance to bring down the interest rate of bank loan to a single digit, Prime Minister Sheikh Hasina said on Sunday the government will take measures again to reduce the interest rate for the sake of the country’s industrialisation, reports UNB. “We’ll sit again to discuss how to reduce the interest rate of bank loan,” she said while inaugurating the weeklong first national industrial fair in the city.
Bangladesh forms €50m low-cost fund for safer RMG
Bangladesh government has formed a €50 million low-cost fund aiming to facilitate garment factory remediation with the view to enhancing workplace safety in the prime export-earning sector. Each garment factory will get loans of up to €1 million from the fund at 7.0 per cent interest rate. In exceptional cases, the amount of loan will be increased to €3 million for massive upgrades.
Bangladesh stocks falling as investors selling mode
Bangladesh stocks fell on Sunday amid cautious trading as investors continued selling shares amid concerns over liquidity pressure on the banking sector. The prime index of the Dhaka Stock Exchange (DSE) dropped below 5,500-mark after three months on the day as worried investors continued their selling binge.
BARVIDA seeks 45pc depreciation facility
The importers of reconditioned vehicles have demanded either 45-per cent depreciation facility for five years or reintroduction of a consolidated tax benefit system for them. They said the introduction of the proposed measures would minimise the discriminatory import duty rates between used and new vehicles.
Liquidity shortage hits banks’ farm loan disbursement
Farm loan disbursement dropped by 2.81 per cent or Tk 406.86 crore in the July-February period of the current fiscal year due mainly to liquidity crisis in the country’s banking sector. In July-February of FY19, banks disbursed Tk 14,113.56 crore in farm loans against Tk 14,520.42 crore disbursed in the same period of FY18, according to the latest Bangladesh Bank data.
ILO: Ensure nutrition for female RMG workers
On Sunday, International Labour Organization Country Director, Tuomo Poutiainen, called for improving working conditions in the ready-made garment sector in Bangladesh. Addressing the launch of an initiative, Nutrition of Working Women, he also urged the authorities concerned to further enhance workplace safety in the sector.