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.
Rural areas get less power supply
Load shedding in the rural areas increased both in terms of frequency and durations over the past one year despite the government’s claims that it increased power generation capacity by approximately 1,000MW during the same period. Rural Electrification Board’s customers in Chittagong and Barisal divisions, greater Mymensingh and several other areas find their power connections useless in the pitiless summer.
Local firms decry restrictions
Local private entrepreneurs are angry about the criteria set for selecting sponsors to build 10 new power plants as they say the move is designed to keep most of them ‘out of the race’. In the selection terms, the state-run Bangladesh Power Development Board (BPDB) has barred firms having ‘litigation’ with state-owned entities from taking part in the bidding process, a senior BPDB official told the FE.
Tax hike at source to hurt export
The proposed 1.5% tax at source for export-oriented industry would badly hit the sector especially the promising ones, like plastics industry, furniture and garment accessories manufacturers and the like, exporters say. In the proposed budget for the fiscal year 2016-17, the government has proposed to raise the tax at source on exports, including that of the garment sector, to 1.5% from 0.60%. Currently, the apparel makers and other export-oriented sectors pay 0.60% tax at source.
BB directs banks to tighten security at ATMs during Eid
Bangladesh Bank has asked all banks to maintain a high-level of security at all ATM booths ahead of the Eid-ul-Fitr, a senior official said yesterday. The BB will also release new banknotes worth around Tk 15,000 crore, starting June 19, to meet the demand for the new notes during the festival of Muslims. A new note of Tk 500 denomination signed by the new governor will also be launched.
Bangladesh’s stocks edge up amid choppy trading
Bangladesh’s stocks edged higher with choppy trading for the second trading sessions on Wednesday as some optimistic investors took position on sector specific lucrative stocks. After witnessing volatile trading throughout the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), settled at 4,411.99, advancing 2.90 points or 0.06 percent.
Bangladesh Bank slashes interest rate on agro credit
The central bank of Bangladesh has slashed maximum ceiling on agricultural credit by 1.0 percentage points considering the declining trend of both interest rates on lending and deposits, officials said. The banks are allowed to charge maximum 10 per cent interest rate on agriculture credit instead of 11 per cent, according to a notification, issued by the Bangladesh Bank (BB) on Wednesday.
Govt. employees to get Eid bonus as per new pay scale
The public servants will get bonus on the occasion of Eid-ul-Fitr, the biggest religious festival of the Muslim, as per new pay scale, officials said. The finance ministry issued a notification in this connection on Wednesday.
Transshipment begins today with charge of Tk 192 per tonne
Dhaka will allow transshipment facility to Delhi charging only Tk 192 per tonne of Indian goods to be carried through Bangladesh territory from today. Shipping ministry officials in Dhaka said that a ship carrying 1,000 tonnes of steel and iron sheets, bound for Tripura, was scheduled for unloading the goods at Ashuganj river port today.