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.
31pc of RMG factories make no progress in remediation works
About 31 per cent of readymade garment factories, inspected under the national initiative, have completely failed to fix safety faults, while 36 per cent of factories made less than 30 per cent progress in repairing structural, fire and electrical faults in the units.
At-source taxpayers to come under tax net
Chairman of the National Board of Revenue (NBR) said on Tuesday that people who are paying tax at source will be brought under the net in the next financial year. The majority of such taxpayers go traceless and they have not come under formal tax net, said Md Mosharraf Hossain Bhuiyan.
Bangladesh’s imports rise by 30% in February
Bangladesh’s overall imports jumped by 29.96 per cent or US$926.37 million in February mainly due to higher import of rice, capital machinery and fuel oils, officials said. The settlement of letters of credit (LCs), generally known as actual import, in terms of value, rose to $4.02 billion in February last from $3.09 billion in the same period of the previous calendar year, according to the central bank’s latest statistics.
Yarn production to rise 2.67pc: USDA
Yarn production is set to expand 2.67 percent to 7.70 lakh tonnes this fiscal year on the back of rising garment exports, according to a report from the United States Department of Agriculture. But the Bangladesh Textile Mills Association says the amount of yarn produced in the country is much higher at 13.50 lakh tonnes a year.
WB to provide $515m loan to improve electricity of Bangladesh
The government of Bangladesh on Tuesday signed two financing agreements totaling $515 million with the World Bank (WB) to help expand electricity transmission network. The $450 million Enhancement and Strengthening of Power Transmission Network in Eastern Region Project will improve reliable electricity supply and reduce load shedding in the eastern region, covering greater Cumilla and Noakhali and part of greater Chittagong, according to a statement, issued by the WB in Dhaka.
Chisty, 3 others sent to jail
Former chairman of Farmers Bank Audit Committee Mahabubul Haque Chisty, his son and two officials of the bank landed in jail yesterday after the Anti-Corruption Commission arrested them in a Tk 160-crore laundering case. Mahabubul, his son Rashedul Haque Chisty, the bank’s Senior Vice President Zia Uddin Ahmed and First Vice President Muhammad Masudur Rahman Khan were produced before a Dhaka Metropolitan Magistrate’s Court that sent them to prison.
Lack of infrastructure hampers operational growth in Chittagong port
The Chittagong port, located on the estuary of the Karnaphuli River, faces challenges in operational growth due to lack of infrastructural development in a decade, port users, experts and authorities concerned say. About 90% of the country’s export and import passes through the country’s prime seaport.
Informal sectors employ 87pc of workforce
About 87 per cent of the country’s total workforce are engaged in informal sectors including agriculture and small trade who are not properly evaluated. On the other hand, many of these workers cannot play their due role due to lack of training and skill hindering the achievement of sustainable development goals (SDGs).