Dhaka, Bangladesh (BBN) – The BBN has prepared the morning business round up compiling reports, published by different newspapers and news portals in Bangladesh.
Bangladesh Bank unveils BDT 164bn agricultural, rural credit policy for FY 16
The central bank has announced an agricultural and rural credit policy and programme with a disbursement target of BDT 164 billion for this fiscal year (FY), projecting around 5.5 per cent growth over that of the previous fiscal. “The banks will have to take necessary initiatives for achieving the agricultural loan-disbursement target by ensuring proper use of such loan through strengthening their monitoring across the country,” Bangladesh Bank (BB) Governor Dr Atiur Rahman said while announcing the policy at the central bank headquarters in the capital Dhaka on Monday.
CAAB proposes threefold rise in project cost
The government is set to revise the Cox’s Bazar airport upgradation project hiking its cost by nearly 300 per cent from the original estimate, officials said Monday. The Project Evaluation Committee (PEC) of the Planning Commission will sit next week for evaluating the revised Development Project Proposal (DPP) of the Cox’s Bazar airport before the proposed revision.
Long wait for ministry’s nod for BTRC guidelines
A number of guidelines formulated by the Bangladesh Telecommunication Regulatory Commission have been pending for long with the telecom ministry and the long wait for the ministry’s approval is affecting the industry, BTRC officials said. They said the commission in the last several months sent to the post, telecommunication and information ministry a number of guidelines including mobile number portability, network tower sharing, internet safety solution and spectrum auction but it was yet to receive the ministry’s approval.
New pay-scale to get cabinet nod next week
The new pay structure for government staff will be placed in the next cabinet meeting, scheduled to be held on Monday, Finance Minister AMA Muhith said. Muhith’s comments came after a meeting with the English-medium school association at his secretariat office yesterday. The proposal is almost ready as recommended by the secretary-level review committee and the Pay and Services Commission, according to a finance ministry official. There were some disputes among the government staff about the Pay Commission and Review committee recommendations.
NBR to earn Tk 22b less than original estimates
The last-minute amendments made to two major tax proposals in the national budget is likely to deprive the government of revenue estimated at Tk 22 billion during the fiscal year (FY) 2015-16. Tax at source (TAS) on export bill and advance income tax (AIT) on import of essential commodities are two of the vital sources of revenue collection by the tax authorities.
New law to boost tax receipts by 20pc: study
The implementation of the new VAT law will boost revenue collection from domestic sources by as much as 20 percent, according to a government-sponsored study. Conducted by the Policy Research Institute, the study found that revenue receipts from local sources will rise by up to Tk 8,481 crore over the amount recorded in fiscal 2013-14. Some Tk 42,900 crore was collected that year. In a modest scenario, the revenue gain is estimated to be 15 percent, or Tk 6,394 crore, over the collected amount in fiscal 2013-14, according to the study, which was submitted to the National Board of Revenue.
Bangladesh’s stocks plunge for 2nd day
Bangladesh’s stocks declined marginally for the second running sessions on Monday with turnover falling further as investors remained on profit booking mood. DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 11.21 points or 0.23 percent to settle at 8.775.27, after witnessing volatility almost throughout the session.
Dhaka luxury hotels feel pinch for lack of guests
Hotel business in the capital is going through a lacklustre period as the foreigners visit came down drastically. Industry insiders said the business is down by almost 50% over the last one month. The number of garment buyers visiting the country has reduced due to fall in the ready-made garment orders. According to Salman Kabir, assistant director of Pan Pacific Sonargaon Hotel, the number of guests started falling at the beginning of Ramadan while ahead of Eid ul-Fitr the number fell drastically and the trend continues.