Dhaka, Sept 28 (UNB) – High price of yarn affecting the garments sector will be brought down to a reasonable level within a week in consultation with stakeholders, assured the Commerce Minister Faruk Khan today.
Yarn price has sharply increased in the domestic market following rise in cotton price in the international market that put the country’s prime export industry textile under severe stress.
“We’ll call a meeting soon…I’ve already talked to BTMA president Abdul Hai Sarker in this regard. I hope we’ll be able to solve the problem within seven to ten days,” Khan said while talking to reporters at the Secretariat today after a meeting with the BKMEA leaders.
Faruk Khan said the government would request the Indian government to lift ban on cotton export to Bangladesh immediately. “I’ve already talked to Bangladesh Ambassador in New Delhi today about it.”
He said he is planning to go India within next few days where he would talk with relevant people about import of raw cotton.
Admitting price hike of yarn in the international market, Faruk Khan said they would check whether the price is hiked reasonably in the domestic market.
“We’re downloading last two months’ international yarn price status …How much the price can be increased logically, we’re looking into it,” he said.
Earlier, a three-member team of Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) led by its president AKM Selim Osman met with Commerce Minister and expressed concern at exorbitant price hike of yarn badly affecting the textile sector.
Talking to UNB after the meeting Selim Osman said the government assured them of taking effective steps to reduce the price.
“We’re concerned over the matter…If it’s not tackled the number of unemployment will shoot up and export decline considerably,” he said.
Earlier, a 9-member coordination committee was formed comprising members from the BGMEA, BKMEA and BTMA to safeguard the interest of the three Associations while addressing the problems in the wake of the yarn price hike.
The coordination committee comprises three members each from the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) and Bangladesh Textile Mills Association (BTMA).
The decision was taken at a joint meeting of the associations at BTMA office.
The meeting also decided that the BTMA will take necessary steps to contain the price of yarn to a rational and tolerant level. Coordination committee will take necessary measures to address the other issues.
The maximum used 30-count yarn price was hovering at $4.55 to $4.65 (30’s) till September 26, much to the sufferings of the garment producers. The yarn price last September was around $ 2.65.
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Signing of FTA with Malaysia, India in final stage: Commerce Minister
Dhaka, Sept 28 (UNB) – The signing of Free Trade Agreement (FTA) with Malaysia and India is now in final stage, Commerce Minister Faruk Khan said on Tuesday.
“Experts are now examining what benefit Bangladesh will get if the FTA is signed,” he told journalists at his Secretariat office.
Faruk Khan said the government would not sign any deal that might go against the country’s interest. “We’re considering all crucial aspects…it may take time,” he added.
If Bangladesh signs the FTA with Malaysia and India, it will be the first of its kind, as Bangladesh have no such agreement with any country yet.
END/UNB/
Wednesday, September 29, 2010
Tk 62,112.10 crore earned as revenue last fiscal achieving 101.82% against target
By AKM Moinuddin
Sangsad Bhaban, Sept 28 (UNB) - The government earned Tk 62,112.10 crore as revenue during the fiscal 2009-10, which shows 101.82 percent achievement against the pre-set target.
The amount collected as revenue income was Tk 9,584.85 crore more than the earnings of previous fiscal (2008-2009).
The target of revenue earning was Tk 61,000 crore in fiscal 2009-10, said a written answer that stood in the name of Finance Minister AMA Muhith in reply to a scripted question of Nasimul Alam Chowdhury (Awami League-Comilla).
Replying to another scripted question of ABM Ashrafuddin (Laxmipur-4), a written answer of Finance Minister Muhith said the government earned over Tk 62,000 crore through the Internal Resource Division in the last fiscal.
He also said the government has plans for increasing revenue from internal sources in the current fiscal (2010-11) and various steps have been taken in this regard.
The Minster in his written answer hoped that nearly Tk 600 crore would be earned through realizing five percent regulatory duty on finished goods and luxury goods.
He said the officials of National Board of Revenue (NBR) and Customs have been asked to regularly monitor revenue target and collection.
Meanwhile, a proposal regarding increasing manpower of the NBR is under consideration of the Finance Division, he said.
The minister said the country earned Tk 17,087 crore as revenue from the income tax sector during last fiscal (2009-10).
END/UNB/
Sangsad Bhaban, Sept 28 (UNB) - The government earned Tk 62,112.10 crore as revenue during the fiscal 2009-10, which shows 101.82 percent achievement against the pre-set target.
The amount collected as revenue income was Tk 9,584.85 crore more than the earnings of previous fiscal (2008-2009).
The target of revenue earning was Tk 61,000 crore in fiscal 2009-10, said a written answer that stood in the name of Finance Minister AMA Muhith in reply to a scripted question of Nasimul Alam Chowdhury (Awami League-Comilla).
Replying to another scripted question of ABM Ashrafuddin (Laxmipur-4), a written answer of Finance Minister Muhith said the government earned over Tk 62,000 crore through the Internal Resource Division in the last fiscal.
He also said the government has plans for increasing revenue from internal sources in the current fiscal (2010-11) and various steps have been taken in this regard.
The Minster in his written answer hoped that nearly Tk 600 crore would be earned through realizing five percent regulatory duty on finished goods and luxury goods.
He said the officials of National Board of Revenue (NBR) and Customs have been asked to regularly monitor revenue target and collection.
Meanwhile, a proposal regarding increasing manpower of the NBR is under consideration of the Finance Division, he said.
The minister said the country earned Tk 17,087 crore as revenue from the income tax sector during last fiscal (2009-10).
END/UNB/
Tk 922.90 crore undisclosed money invested in 3 sectors in last fiscal
Sangsad Bhaban, Sept 28 (UNB) – A total of Tk 922.90 crore of undisclosed money was invested in the last fiscal (2009-2010) in three sectors, Parliament was informed Tuesday.
The government has kept scope for the investment of undisclosed money in four sectors in the last fiscal, said a written answer that stood in the name of Finance Minister AMA Muhith, in reply to a question of M Israfil Alam (Awami League Naogaon).
The sectors were investment in setting up new industrial unit, renovation, repair and modernization of old industry, investment through buying registered company’s shares, and investment in buying flat or house.
The undisclosed money invested in the last fiscal was in the first three sectors.
END/UNB/
The government has kept scope for the investment of undisclosed money in four sectors in the last fiscal, said a written answer that stood in the name of Finance Minister AMA Muhith, in reply to a question of M Israfil Alam (Awami League Naogaon).
The sectors were investment in setting up new industrial unit, renovation, repair and modernization of old industry, investment through buying registered company’s shares, and investment in buying flat or house.
The undisclosed money invested in the last fiscal was in the first three sectors.
END/UNB/
Govt so far recommends withdrawal of 6,392 cases; allegation of partiality baseless: Sahara Khatun
By AKM Moinuddin
Sangsad Bhaban, Sept 27 (UNB) – The government has so far recommended withdrawal of 6,392 “politically motivated” cases, Home Minister Sahara Khatun told Parliament Monday.
Replying to a scripted question of M Harunur Rashid (Chandpur-4), she said the central committee of Home Ministry made the recommendations for withdrawing the cases filed for “political harassment.”
Till September 20, the committee held a total of 22 meetings where the recommendations were made.
The Home Minister informed the House that the recommendations were made impartially and two cases filed against opposition leaders have also been withdrawn along with other recommended cases.
“The cases relating to political harassment come for discussion while recommending withdrawal of cases…there is no question of partiality,” she said.
Sahara said there was no scope of filing cases against the present opposition leaders for political harassment during the BNP-Jamat alliance government’s tenure as they were in power.
She said most of the cases were filed against the then opposition leaders, activists and supporters (AL-led grand alliance), businessmen, service holders and helpless people. “The allegation of partiality in withdrawing political cases is baseless.”
The Home Minister said the government would take effective steps if any case filed against opposition leaders and activities is placed before the central committee dealing with such cases.
END/UNB/
Sangsad Bhaban, Sept 27 (UNB) – The government has so far recommended withdrawal of 6,392 “politically motivated” cases, Home Minister Sahara Khatun told Parliament Monday.
Replying to a scripted question of M Harunur Rashid (Chandpur-4), she said the central committee of Home Ministry made the recommendations for withdrawing the cases filed for “political harassment.”
Till September 20, the committee held a total of 22 meetings where the recommendations were made.
The Home Minister informed the House that the recommendations were made impartially and two cases filed against opposition leaders have also been withdrawn along with other recommended cases.
“The cases relating to political harassment come for discussion while recommending withdrawal of cases…there is no question of partiality,” she said.
Sahara said there was no scope of filing cases against the present opposition leaders for political harassment during the BNP-Jamat alliance government’s tenure as they were in power.
She said most of the cases were filed against the then opposition leaders, activists and supporters (AL-led grand alliance), businessmen, service holders and helpless people. “The allegation of partiality in withdrawing political cases is baseless.”
The Home Minister said the government would take effective steps if any case filed against opposition leaders and activities is placed before the central committee dealing with such cases.
END/UNB/
BD to set up embassy/consulate in 10 countries
Sangsad Bhaban, Sept 27 (UNB) - Bangladesh will set up full-fledged embassies/ consulates in 10 countries during the current fiscal.
Answering a scripted question from Md. Majibul Haque (Kishoreganj-3), State Minister for Forest and Environment Dr Hasan Mahmud said Prime Minister Sheikh Hasina has approved this in principle.
Dr Hasan Mahmud answered the question in absence of Foreign Minister Dr Dipu Moni, now visiting New York on the occasion of the 65th UN General Assembly.
Hasan said the Prime Minister has given approval in principle to set up full-fledged embassy/consulate in Kabul in Afghanistan, Freetown in Sierra Leone, Abuja in Nigeria, Lisbon in Portugal, Port Louis in Mauritius, Beirut in Lebanon, Kunming in China, and Milan in Italy, as well as Mexico and Denmark.
Besides, approval of the Prime Minister has also been taken to re-establish missions in Brazil, Algeria, Poland and Romania, the State Minister said.
Dr Hasan said further steps have been taken to set up deputy missions in Mumbai, Chennai and Guwahati of India and in Vienna, Austria.
In his response to a supplementary question of Rashed Khan Menon (Dhaka-8), Dr Hasan Mahmud said the government, since taking office, has further strengthened the labor wings of embassies in various countries.
Fazle Rabbi Mia (Gaibandha-5) in his supplementary question wanted to know why complexities over Akama (work permit) transfer has not been removed yet, even though Prime Minister Sheikh Hasina during her Saudi Arabia visit in April 2009 got an assurance from the Saudi government in this regard.
In reply, Dr Hasan Mahmud said the government is working to remove prevailing complexities over work-permit for the Bangladeshi workers living in Saudi Arabia.
He also said complexities regarding family visa have already been simplified following the Prime Minister’s Saudi Arabia visit.
Dr Hasan further said a huge number of Rohingyas went to Saudi Arabia using Bangladeshi passports during the last BNP-Jamaat regime, resulting in various problems for real Bangladeshi expatriates.
END/UNB/
Answering a scripted question from Md. Majibul Haque (Kishoreganj-3), State Minister for Forest and Environment Dr Hasan Mahmud said Prime Minister Sheikh Hasina has approved this in principle.
Dr Hasan Mahmud answered the question in absence of Foreign Minister Dr Dipu Moni, now visiting New York on the occasion of the 65th UN General Assembly.
Hasan said the Prime Minister has given approval in principle to set up full-fledged embassy/consulate in Kabul in Afghanistan, Freetown in Sierra Leone, Abuja in Nigeria, Lisbon in Portugal, Port Louis in Mauritius, Beirut in Lebanon, Kunming in China, and Milan in Italy, as well as Mexico and Denmark.
Besides, approval of the Prime Minister has also been taken to re-establish missions in Brazil, Algeria, Poland and Romania, the State Minister said.
Dr Hasan said further steps have been taken to set up deputy missions in Mumbai, Chennai and Guwahati of India and in Vienna, Austria.
In his response to a supplementary question of Rashed Khan Menon (Dhaka-8), Dr Hasan Mahmud said the government, since taking office, has further strengthened the labor wings of embassies in various countries.
Fazle Rabbi Mia (Gaibandha-5) in his supplementary question wanted to know why complexities over Akama (work permit) transfer has not been removed yet, even though Prime Minister Sheikh Hasina during her Saudi Arabia visit in April 2009 got an assurance from the Saudi government in this regard.
In reply, Dr Hasan Mahmud said the government is working to remove prevailing complexities over work-permit for the Bangladeshi workers living in Saudi Arabia.
He also said complexities regarding family visa have already been simplified following the Prime Minister’s Saudi Arabia visit.
Dr Hasan further said a huge number of Rohingyas went to Saudi Arabia using Bangladeshi passports during the last BNP-Jamaat regime, resulting in various problems for real Bangladeshi expatriates.
END/UNB/
Govt offloads shares of 2 BSEC companies in capital market by 6 months; it actively considering setting up coal-based power plants in Ctg, Khulna
By AKM Moinuddin
Dhaka, Sept 27 (UNB) – The government has planned to offload shares of at least two companies under Bangladesh Steel and Engineering Corporation (BSEC) into capital market within next six months in a bid to boost industrial sector’s growth.
“Our Ministry has already taken necessary steps in this regard, ”Industries Minister Dilip Barua said at a meeting with US Ambassador James F Moriarty at his office Monday.
He informed the US envoy that the government is working for building a strong private sector to help boosting the industrial sector’s growth.
“The government would provide necessary logistic supports and infrastructural facilities for the flourishment of private sector,” he said.
Issues related to friendly work environment, coal-based power generation, investment in specialized industrial zones and setting up Hi-Tech industrial park dominated in the discussion.
The US envoy appreciated the government’s Industrial Policy-2010 and hoped that industrialization would get momentum if steps are taken in the light of the new industrial policy.
He emphasized on friendly relationship between workers and owners and suggested a tri-party communications and discussion among government, workers and owners to ensure better environment in country’s industrial units.
“Bangladesh can set up Hi-Tech industrial park for the development of industrial sector,” Moriarty said.
In response, Minister Barua said the government is actively considering the issue of setting up coal-based power plants in Chittagong and Khulna to address prevailing power crisis in industrial belts.
He informed that the government would ensure equal opportunities for domestic and foreign investors apart from expatriate Bangladeshis in investing specialized industrial zones.
Industries Ministry Secretary KH Masud Siddiqui and high official of the US Embassy in Dhaka were present in the meeting.
END/UNB/
Dhaka, Sept 27 (UNB) – The government has planned to offload shares of at least two companies under Bangladesh Steel and Engineering Corporation (BSEC) into capital market within next six months in a bid to boost industrial sector’s growth.
“Our Ministry has already taken necessary steps in this regard, ”Industries Minister Dilip Barua said at a meeting with US Ambassador James F Moriarty at his office Monday.
He informed the US envoy that the government is working for building a strong private sector to help boosting the industrial sector’s growth.
“The government would provide necessary logistic supports and infrastructural facilities for the flourishment of private sector,” he said.
Issues related to friendly work environment, coal-based power generation, investment in specialized industrial zones and setting up Hi-Tech industrial park dominated in the discussion.
The US envoy appreciated the government’s Industrial Policy-2010 and hoped that industrialization would get momentum if steps are taken in the light of the new industrial policy.
He emphasized on friendly relationship between workers and owners and suggested a tri-party communications and discussion among government, workers and owners to ensure better environment in country’s industrial units.
“Bangladesh can set up Hi-Tech industrial park for the development of industrial sector,” Moriarty said.
In response, Minister Barua said the government is actively considering the issue of setting up coal-based power plants in Chittagong and Khulna to address prevailing power crisis in industrial belts.
He informed that the government would ensure equal opportunities for domestic and foreign investors apart from expatriate Bangladeshis in investing specialized industrial zones.
Industries Ministry Secretary KH Masud Siddiqui and high official of the US Embassy in Dhaka were present in the meeting.
END/UNB/
Commerce Minister invites Korean entrepreneurs to invest ; FBCCI-KOIMA sign MoU to boost trade
By AKM Moinuddin
Dhaka, Sept 29 (UNB) – Commerce Minister Faruk Khan has extended invitation to Korean entrepreneurs to invest in Bangladesh in a big way to strengthen the existing trade relations between the two nations.
The existing trade balance is now heavily in favor of Korea as Bangladesh’s export in the last fiscal was US$ 140.28 million as against the import of US$ 837.01 million.
“Bangladesh is a suitable place for investment…It has skilled manpower and you can avail of the opportunities,” he told Korean entrepreneurs while speaking at a seminar.
The seminar on “Trade between Bangladesh and Republic of Korea” was held at Hotel Sonargaon in the city today.
Export Promotion Bureau (EPB) and Ministry of Commerce jointly hosted the seminar. Korean Ambassador in Dhaka Taiyoung Cho attended as special guest.
Faruk Khan said Bangladesh wants to utilize Korean experience and technological skills for rapid industrialization. “Two nations can come closer to each other by utilizing modern communication system and can be friends of each other both in good and bad days,” he said.
Later, Federation of Bangladesh Chamber of Commerce and Industry (FBCCI) and the Korea Importers Association (KOIMA) inked a memorandum of understanding (MoU) for strengthening trade and economic development of both parties. FBCCI acting president M Jashim Uddin and KOIMA Chairman Dr Ju-Tae Lee signed the MoU.
EPB Vice Chairman Jalal Ahmed, FBCCI acting president M Jashim Uddin, KOIMA Chairman Dr Ju-Tae Lee, Korea-Bangladesh Chamber of Commerce and Industry (KBCCI) president SM kamal Uddin and joint secretary (export) Monoj Kumar Roy also spoke at the seminar.
END/UNB/
Dhaka, Sept 29 (UNB) – Commerce Minister Faruk Khan has extended invitation to Korean entrepreneurs to invest in Bangladesh in a big way to strengthen the existing trade relations between the two nations.
The existing trade balance is now heavily in favor of Korea as Bangladesh’s export in the last fiscal was US$ 140.28 million as against the import of US$ 837.01 million.
“Bangladesh is a suitable place for investment…It has skilled manpower and you can avail of the opportunities,” he told Korean entrepreneurs while speaking at a seminar.
The seminar on “Trade between Bangladesh and Republic of Korea” was held at Hotel Sonargaon in the city today.
Export Promotion Bureau (EPB) and Ministry of Commerce jointly hosted the seminar. Korean Ambassador in Dhaka Taiyoung Cho attended as special guest.
Faruk Khan said Bangladesh wants to utilize Korean experience and technological skills for rapid industrialization. “Two nations can come closer to each other by utilizing modern communication system and can be friends of each other both in good and bad days,” he said.
Later, Federation of Bangladesh Chamber of Commerce and Industry (FBCCI) and the Korea Importers Association (KOIMA) inked a memorandum of understanding (MoU) for strengthening trade and economic development of both parties. FBCCI acting president M Jashim Uddin and KOIMA Chairman Dr Ju-Tae Lee signed the MoU.
EPB Vice Chairman Jalal Ahmed, FBCCI acting president M Jashim Uddin, KOIMA Chairman Dr Ju-Tae Lee, Korea-Bangladesh Chamber of Commerce and Industry (KBCCI) president SM kamal Uddin and joint secretary (export) Monoj Kumar Roy also spoke at the seminar.
END/UNB/
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