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.
Govt spends one-fourth of current budget in H1
Bangladesh recorded a budget surplus of Tk 2.37 billion in the six months to December of the current fiscal year, mainly due to slow spending of budgetary resources. Finance minister AMA Muhith disclosed Wednesday this while presenting a report on the budget implementation and macro-economy in Parliament.
Inadequate infrastructure fuels vessel congestion at Ctg port
Three years ago, Bangladesh’s prime seaport Chittagong only saw vessel congestion during the period of budget announcement and Ramadan, but now the problem is continuous. Veteran seafarers using the port blamed the Chittagong Port Authority’s (CPA) negligence in developing the port’s infrastructure for the alarming crisis which is hurting not only the country’s export-import sector, but also the overall economic development.
Banks’ NPLs: Curse for sustainable growth of Bangladesh
Now that Bangladesh has graduated to developing country all efforts should be made to strengthen the banking sector which is the backbone of the economy. The requirements and challenges of many to a developing country must not be ignored and the best way to do this is strengthening the capital & liquidity ratio of the banks, according to the editorial of the current News Bulletin (Jan-March-2018) of International Chamber of Commerce-Bangladesh (ICCB) released on Wednesday.
Muhith for publishing names of loan defaulters
Finance minister Abul Maal Abdul Muhith on Wednesday told parliament that loan defaulters were causing dangerous harm to the country and the government would make public a list of loan defaulters. ‘The loan defaulters keep away the amount which can be invested in other areas. The list of the loan defaulters will be public time to time,’ Muhith told the house while responding to a supplementary question of independent lawmaker Rustam Ali Farazi.
Now ADB differs with growth estimate of BBS
After the World Bank, the Asian Development Bank has now projected a growth figure that is much lower than the government’s provisional estimate of 7.65 percent. The Manila-based multilateral lender yesterday said Bangladesh’s economic growth this fiscal year would be 7 percent as consumption demand slackens despite a rebound in remittance inflow.
ADP spending stands only at 45.65pc in 9 months
Progress in implementation of the annual development programme remained sluggish in the first nine months of the current fiscal year 2017-2018 as the government agencies could implement only 45.65 per cent of the total ADP outlay. According to Implementation Monitoring and Evaluation Division data, 57 ADP implementing ministries and divisions of the government in July-March of FY 2018 spent Tk 71,940 crore, out of the total allocation of Tk 1,57,594 crore for the year.
Govt opts for costlier Chinese credit to buy railway cars
The government is in talks with China to secure costlier credit for purchasing railway coaches, which officials said might attract as high as 6.0 per cent interest rate. The CRRC Sifang Company Ltd, a subsidiary of China South Locomotive and Rolling Stock Industry (Group), will supply the carriage to Bangladesh Railway by arranging financing from Shanghai Pudong Development Bank.
WB approves $55m to facilitate Bangladesh renewable energy
The World Bank (WB) has approved $55 million to expand use of clean renewable energy in rural areas of Bangladesh where grid electricity cannot reach easily. This additional financing to the Second Rural Electrification and Renewable Energy Development (RERED II) Project will install 1,000 solar irrigation pumps, 30 solar mini-grids, and about 4 million improved cookstoves in rural areas.