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.
Retail power price hike likely
The retail level electricity distributors have sought a fresh hike in electricity price for almost all types of consumers from January 2020. State-run electricity distribution companies submitted the tariff hike proposals to the energy regulator a week after similar proposal to raise the bulk electricity price by the Bangladesh Power Development Board, or BPDB.
NBR to start EFD installation in Dec
The National Board of Revenue may start installation of electronic fiscal devices (EFD) at shops from December, one year after making use of the device mandatory for 24 types of shops and service providers across the country. Initially, the device will be set up at 100 shops located at Bashundhara City Shopping Mall and Jamuna Future Park in Dhaka as part of implementation of the provision.
Arrears worsen leather sector’s woes
The crisis in the leather and leather goods industry has deepened further as the tanners are yet to pay Tk 350 crore in arrears fully to the rawhide merchants. In August, the tanners agreed to settle the arrears at a meeting brokered by the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI).
Bangladesh receives over $6.0b remittance in four months
The inflow of remittances crossed US$6.0 billion in the first four months of the current fiscal year (FY) as the government started providing incentive to the beneficiaries against inward remittance. Depreciating mode of the local currency against the US dollar has also pushed up the flow of inward remittances in the recent months, bankers said.
Bangladesh’s stocks back to red again
Bangladesh’s stocks slipped back to the red on Monday, after a single-day break as risk-averse investors went on selling binge on sector-wise stocks. DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 33.72 points to settle at 4,678, after gaining 29 points in the previous day.
Women’s unpaid work equivalent to 40pc of GDP: Sanem
Women need recognition for their unpaid work because its monetary value was almost 40 percent of Bangladesh’s GDP in fiscal 2016-17, said the South Asian Network on Economic Modelling (Sanem). Sanem says the monetary value of unpaid domestic work is equivalent to 48.54 percent of fiscal 2016-17’s GDP and women account for 81.4 percent of the amount.
Kamal calls CPD’s funds in question
Finance Minister AHM Mustafa Kamal on Monday raised question about the sources of funds of private sector think–tank Centre for Policy Dialogue (CPD). “We need to know where their funds come from,” Kamal told reporters in response to a question over the CPD’s assessment on the country’s state of economy made public on Sunday.
Kamal blames regulators for PLFS woes
Finance minister AHM Mustafa Kamal on Monday said that lack of monitoring of the regulatory bodies had resulted in poor health of financial institutions including People’s Leasing and Financial Services (PLFS) Limited. He made the remark after a six-member team of the depositors of PLFS met him at his office in Dhaka on the day. The non-bank financial institution is facing a forced liquidation.