By AKM Moinuddin
Dhaka, Oct 30 (UNB) – Branding the country’s land registration offices at the ‘core of corruption,’ Finance Minister AMA Muhith on Saturday said digitalization of major sectors would curb corruption, a key barrier to development.
“Our land registration system is at the core of corruption. Bribes are exchanged openly. Digitalizing such organizations is urgent because massive use of information technology can curb corruption and expedite development,” he said.
The finance minister said the government has taken up the challenge to digitalize the land registration system, though the progress so far has not been remarkable.
Muhith also observed ‘slow progress’ in administrative reforms and urged the technology-driven youths and those who are there in the ICT sector to come forward saying the country ‘needs revolutionary change in some sectors.’
The Finance Minister came up with this observation while addressing as chief guest the inaugural ceremony of the four-day BCS-ICT World Fair-2010 at Bangabandhu International Conference Center.
State Minister for Science, Information and Communications Technology architect Yeafesh Osman attended the function as special guest with Bangladesh Computer Samity (BCS) president Mostafa Jobbar in the chair.
Convener of the fair committee Mujibur Rahman Shawpan and Chief Executive Officer of QUBEE Bangladesh Jerry Mobbs were also present at the inaugural session.
Muhith said the progress that has been made so far was ‘beyond his imagination and calculation’, but he admitted that the government has been unable to implement e-governance yet.
“We’ve made 64 digital portals at the district-level, many of these portals have updated content. More remarkably, the country will get 4500 information centers by November at the union parishad level, whereas we had thought of getting to only 1000 information centers across the country by the yearend,” he revealed.
Talking about paper-based documentation in public offices, Muhith said: “We couldn’t break out of the paper-based documentation process for various reasons. That doesn’t mean we’re not interested, the fact is that it takes time.”
Terming Bangladesh a ‘land of impossible attainment,’ the Finance Minister expressed his government’s desire to bring about massive changes in some priority sectors like the police department, and the education sector through proper utilization of ICT.
He said technology is the key to development and assured that there would be no ‘digital-divide’ in the country. Digital-divide refers to the gap between people with effective access to digital and information technology, and those with very limited or no access at all. It includes the imbalance both in physical access to technology and the resources and skills needed to effectively participate as a digital citizen.
Yeafesh Osman in his speech said there has been a lot of progress over the last 22 months in ‘digitalizing’ Bangladesh.
“Widespread access for people to cell-phones has played a vital role in creating sound GDP growth,” he said.
The state minister also confirmed 4500 information centers would be up and running by November for people at the union level to have access to information technology across the country. “The Country is being changed…we need to change our mindset”
“The nation had a dream…the dream is being transformed into reality with technology playing a supporting role,” he said.
Later, the finance minister and other guests visited different stalls at the fair.
The BCS arranged the fair, the largest multidimensional international event in the history of ICT of Bangladesh, with various national and international companies organizations demonstrating their products and services.
Though the major emphasis is on computer hardware and accessories, software, ITES, BPO products, telecom products, Multimedia, ICT educational products, laptops and digital lifestyle products are also being displayed at the fair incorporating their latest developments.
There will be seminars on relevant and recent topics. Symposia, product launches, competition and contests will be running side by side with the showcasing of the products and services.
END/UNB/
Saturday, October 30, 2010
Thursday, October 28, 2010
Bangladesh to be attractive destination of Social Business: Dr Yunus; 80% work done to design social business, once you’ve great ideas, he says
By AKM Moinuddin
Dhaka, Oct 28 (UNB) – Bangladesh will become an attractive destination of ‘Social Business’ in near future setting an example for rest of the world, as it has totally different objectives with special focus on solving society’s most pressing problems, instead of making money.
This was stated by Nobel Laureate Prof Muhammad Yunus, the founder of Grameen Bank and innovator of social business, at the inaugural session of a conference titled ‘Global Social Responsibility’ held at Hotel Radisson in the city on Thursday.
He said that social business is a new concept, completely different from conventional profit-making business. It has objectives to solve social problems in sectors like healthcare, education, affordable housing, clean technology and finance through ensuring access of rural people.
Dr Yunus, who is often called the `grandfather of microfinance’, has urged all to come up with unique ideas to open a door for social business in addressing social needs and resolving social problems saying that “if you have ideas, fund will follow you.”
“Social business needs creativity. Some 80 percent work is done if anybody has great idea…anybody can do it and each one has capacity,” he said adding that the social businesses will become a substantial part of the business world.
Bangladesh German Chamber of Commerce and Industry (BGCCI) with the support of German Embassy in Dhaka and GTZ arranged the conference.
Commerce Minister Faruk Khan, German Ambassador Dr Holger Michael,
Chairman of Otto GmbH & Company Dr Michael Otto, BGCCI president Saiful Islam and President of BASF SE Asia Pacific Saori Dubourg were, among others, present at the inaugural session which was followed by panel discussion moderated by The Daily Star Editor Mahfuz Anam.
Explaining the prospects and progress of social business in Bangladesh, Prof Yunus said a series of such businesses are already in operation in the country jointly with other countries including Germany, France and Japan.
“We’ve signed an agreement with a German-based company, Solar World, to produce solar panels here aiming at cutting cost on solar energy generation. Many foreign companies are coming forward to do social business here,” he said outlining the potential of Bangladesh in social business.
Yunus said they would reach millions of people through the social business and cited some example of such businesses that aim at producing mosquito nets and sanitary napkins, providing arsenic-free water for the disadvantaged people, and producing trained nurses.
Differentiating between charity and social business, he said: “Charity is good… once it’s given it’s given forever, you won’t get it back. In a social business, the investors or owners can gradually recoup the money invested, but cannot take any dividend beyond that point.”
Later, in the interactive session, Prof Yunus said many global universities have been providing academic lessons on the concept of social business.
Replying to a question on organizational structure of the social business firms, he said: “Administrative and financial parts are as usual but its objective is different by which you’re trying to solve a social problem.”
Replying to another query, the innovator of social business said he does not foresee any conflict between two types of business. “Rather, I see competition which is a must in market economy.”
He also discussed his work with Dannon Yogurt Co. to develop a nutrient-enriched yogurt product for children that would help curb child malnutrition in Bangladesh.
Yunus highlighted this project as a prime example of a business developing a cheap yet economically viable product, providing a sustainable solution to pressing social needs.
Yunus’ many years of experience in both commercial and social business makes it possible for him to draw a line between the two. He spoke passionately on his stance, affirming that the two types of business must exist independent of one another.
Expressing his views on social business, Commerce Minister Faruk Khan said: “Social business is something very innovative and I’m sure this concept will be replicated in other parts of the world.”
He urged the corporate companies to invest a portion of their profit in social business as part of their corporate social responsibility.
Faruk Khan said Bangladesh has so many things and achievements that carry positive image of the country but these always remain untold. “We don’t look at our achievements and positive image that we have. Rather, we’ve a tendency of seeing negative things in a big way. It shouldn’t be.”
Daily Star Editor Mahfuz Anam said: “Let’s stop to say Bangladesh is a poor country. Let’s say Bangladesh is a developing country, Bangladesh is moving ahead. We’ve many things that had gone positively.”
Urging all to highlight positive things in representing Bangladesh, Mahfuz Anam said: “Change reality, the image will change itself.”
Talking part in the discussion, Chairman of Otto GmbH & Company Dr Michael Otto said the initiative (social business) is very important to fight against poverty. “Social business concept will be able to solve social problems.”
END/UNB/
Dhaka, Oct 28 (UNB) – Bangladesh will become an attractive destination of ‘Social Business’ in near future setting an example for rest of the world, as it has totally different objectives with special focus on solving society’s most pressing problems, instead of making money.
This was stated by Nobel Laureate Prof Muhammad Yunus, the founder of Grameen Bank and innovator of social business, at the inaugural session of a conference titled ‘Global Social Responsibility’ held at Hotel Radisson in the city on Thursday.
He said that social business is a new concept, completely different from conventional profit-making business. It has objectives to solve social problems in sectors like healthcare, education, affordable housing, clean technology and finance through ensuring access of rural people.
Dr Yunus, who is often called the `grandfather of microfinance’, has urged all to come up with unique ideas to open a door for social business in addressing social needs and resolving social problems saying that “if you have ideas, fund will follow you.”
“Social business needs creativity. Some 80 percent work is done if anybody has great idea…anybody can do it and each one has capacity,” he said adding that the social businesses will become a substantial part of the business world.
Bangladesh German Chamber of Commerce and Industry (BGCCI) with the support of German Embassy in Dhaka and GTZ arranged the conference.
Commerce Minister Faruk Khan, German Ambassador Dr Holger Michael,
Chairman of Otto GmbH & Company Dr Michael Otto, BGCCI president Saiful Islam and President of BASF SE Asia Pacific Saori Dubourg were, among others, present at the inaugural session which was followed by panel discussion moderated by The Daily Star Editor Mahfuz Anam.
Explaining the prospects and progress of social business in Bangladesh, Prof Yunus said a series of such businesses are already in operation in the country jointly with other countries including Germany, France and Japan.
“We’ve signed an agreement with a German-based company, Solar World, to produce solar panels here aiming at cutting cost on solar energy generation. Many foreign companies are coming forward to do social business here,” he said outlining the potential of Bangladesh in social business.
Yunus said they would reach millions of people through the social business and cited some example of such businesses that aim at producing mosquito nets and sanitary napkins, providing arsenic-free water for the disadvantaged people, and producing trained nurses.
Differentiating between charity and social business, he said: “Charity is good… once it’s given it’s given forever, you won’t get it back. In a social business, the investors or owners can gradually recoup the money invested, but cannot take any dividend beyond that point.”
Later, in the interactive session, Prof Yunus said many global universities have been providing academic lessons on the concept of social business.
Replying to a question on organizational structure of the social business firms, he said: “Administrative and financial parts are as usual but its objective is different by which you’re trying to solve a social problem.”
Replying to another query, the innovator of social business said he does not foresee any conflict between two types of business. “Rather, I see competition which is a must in market economy.”
He also discussed his work with Dannon Yogurt Co. to develop a nutrient-enriched yogurt product for children that would help curb child malnutrition in Bangladesh.
Yunus highlighted this project as a prime example of a business developing a cheap yet economically viable product, providing a sustainable solution to pressing social needs.
Yunus’ many years of experience in both commercial and social business makes it possible for him to draw a line between the two. He spoke passionately on his stance, affirming that the two types of business must exist independent of one another.
Expressing his views on social business, Commerce Minister Faruk Khan said: “Social business is something very innovative and I’m sure this concept will be replicated in other parts of the world.”
He urged the corporate companies to invest a portion of their profit in social business as part of their corporate social responsibility.
Faruk Khan said Bangladesh has so many things and achievements that carry positive image of the country but these always remain untold. “We don’t look at our achievements and positive image that we have. Rather, we’ve a tendency of seeing negative things in a big way. It shouldn’t be.”
Daily Star Editor Mahfuz Anam said: “Let’s stop to say Bangladesh is a poor country. Let’s say Bangladesh is a developing country, Bangladesh is moving ahead. We’ve many things that had gone positively.”
Urging all to highlight positive things in representing Bangladesh, Mahfuz Anam said: “Change reality, the image will change itself.”
Talking part in the discussion, Chairman of Otto GmbH & Company Dr Michael Otto said the initiative (social business) is very important to fight against poverty. “Social business concept will be able to solve social problems.”
END/UNB/
Wednesday, October 27, 2010
Country to become economically prosperous if use of Ctg port allowed thru transit: Faruk Khan
By AKM Moinuddin
Chittagong, Oct 27 (UNB) – Commerce Minister Faruk Khan said here on Wednesday that transit facilities to the neighboring countries would have to be given to ensure proper utilization of Chittagong seaport and accelerated growth of country’s economy.
“The government is working on the infrastructure development of roads, railway and river-ways. Transit facilities will have to be given to the neighboring countries for proper utilization of Chittagong port and country’s economic growth,” he said at a seminar in the port city.
Suchinta Foundation, a social organization, arranged the seminar titled ‘Regional Cooperation: Transit Deal and Its Impact on Bangladesh’s Economy’ at the Chittagong Press Club auditorium with its executive director MA Arafat in the chair.
The Commerce Minister said if the neighboring countries are given the facility of using Chittagong port through transit, Bangladesh and its people will be equally benefited.
He alleged that opposition BNP had provided all-possible facilities to India when they were in power but could bring nothing for the country.
“Now, BNP is creating confusion among countrymen against India capitalizing on the transit issue. Transit doesn’t mean the country is being sold out,” he said urging the BNP and like-minded parties to “shun the nasty politics.”
Faruk Khan said that trade relations with China, Myanmar and the northeastern states of India would be accelerated through transit.
He called upon the youths to work for the socioeconomic development of the country and to bring about changes in the destructive political culture.
Shamshul Haque Chowdhury MP, Metropolitan Chamber president Abdus Salam and Chittagong Press Club President Abu Sufian, among others, took part in the discussion.
END/UNB/
Chittagong, Oct 27 (UNB) – Commerce Minister Faruk Khan said here on Wednesday that transit facilities to the neighboring countries would have to be given to ensure proper utilization of Chittagong seaport and accelerated growth of country’s economy.
“The government is working on the infrastructure development of roads, railway and river-ways. Transit facilities will have to be given to the neighboring countries for proper utilization of Chittagong port and country’s economic growth,” he said at a seminar in the port city.
Suchinta Foundation, a social organization, arranged the seminar titled ‘Regional Cooperation: Transit Deal and Its Impact on Bangladesh’s Economy’ at the Chittagong Press Club auditorium with its executive director MA Arafat in the chair.
The Commerce Minister said if the neighboring countries are given the facility of using Chittagong port through transit, Bangladesh and its people will be equally benefited.
He alleged that opposition BNP had provided all-possible facilities to India when they were in power but could bring nothing for the country.
“Now, BNP is creating confusion among countrymen against India capitalizing on the transit issue. Transit doesn’t mean the country is being sold out,” he said urging the BNP and like-minded parties to “shun the nasty politics.”
Faruk Khan said that trade relations with China, Myanmar and the northeastern states of India would be accelerated through transit.
He called upon the youths to work for the socioeconomic development of the country and to bring about changes in the destructive political culture.
Shamshul Haque Chowdhury MP, Metropolitan Chamber president Abdus Salam and Chittagong Press Club President Abu Sufian, among others, took part in the discussion.
END/UNB/
Govt to revive fair-price card system soon: Food Minister; There is no food crisis in country, he says
By AKM Moinuddin
Dhaka, Oct 27 (UNB) - The government has decided to restart its fair price card (FPC) system as soon as possible to reach rice to hardcore poor people at cheaper price, Food Minister Dr Abdur Razzaque said on Wednesday.
The FPC system was introduced in September last year but its operation was suspended during the month of Ramadan.
“Initially, we’ll restart the program in Dhaka metropolitan areas and it’ll be gradually expanded to other parts of the country,” the Food Minister told the journalists after emerging from a meeting this (Wednesday) afternoon.
The meeting with Food Minister Abdur Razzaque in the chair was attended by MPs from Dhaka metropolitan areas, Awami League leaders from city different wards and leaders of the AL-led alliance government.
Talking to journalists, Dr Razzaque said there is no food crisis in the country. “We’ve sufficient food stock…the price of rice has increased in local market following the price-hike on the international market.”
Replying to a question, he said the government has plans to include more features in the FPC system so that other essential commodities can also be provided to the targeted people at cheaper prices.
At present, over 11 lakh people across the country have fair price cards. Of them, 5.84 lakh are from Dhaka metropolitan areas. Under the fair price cards, people will get 20 kgs of rice at Tk 24 per Kg every month.
Replying to a question, the Food Minister said the government did not politicize the awarding of fair price cards. Even it was totally fair in selecting dealerships for the OMS.
He directed all concerned to ensure access of grassroots-level people including slum dwellers to OMS service.
Home Minister Adv Sahara Khatun, State Minister for Law adv Kamrul Islam, Rashed Khan Menon MP, AKM Rahmat Ullah MP, Dr Mostafa Jalal Mohiuddin MP and Barrister Sheikh Fazle Noor Tapash MP were, among others, present at the meeting.
END/UNB
Dhaka, Oct 27 (UNB) - The government has decided to restart its fair price card (FPC) system as soon as possible to reach rice to hardcore poor people at cheaper price, Food Minister Dr Abdur Razzaque said on Wednesday.
The FPC system was introduced in September last year but its operation was suspended during the month of Ramadan.
“Initially, we’ll restart the program in Dhaka metropolitan areas and it’ll be gradually expanded to other parts of the country,” the Food Minister told the journalists after emerging from a meeting this (Wednesday) afternoon.
The meeting with Food Minister Abdur Razzaque in the chair was attended by MPs from Dhaka metropolitan areas, Awami League leaders from city different wards and leaders of the AL-led alliance government.
Talking to journalists, Dr Razzaque said there is no food crisis in the country. “We’ve sufficient food stock…the price of rice has increased in local market following the price-hike on the international market.”
Replying to a question, he said the government has plans to include more features in the FPC system so that other essential commodities can also be provided to the targeted people at cheaper prices.
At present, over 11 lakh people across the country have fair price cards. Of them, 5.84 lakh are from Dhaka metropolitan areas. Under the fair price cards, people will get 20 kgs of rice at Tk 24 per Kg every month.
Replying to a question, the Food Minister said the government did not politicize the awarding of fair price cards. Even it was totally fair in selecting dealerships for the OMS.
He directed all concerned to ensure access of grassroots-level people including slum dwellers to OMS service.
Home Minister Adv Sahara Khatun, State Minister for Law adv Kamrul Islam, Rashed Khan Menon MP, AKM Rahmat Ullah MP, Dr Mostafa Jalal Mohiuddin MP and Barrister Sheikh Fazle Noor Tapash MP were, among others, present at the meeting.
END/UNB
Industries Minister plays down fear of crisis; Tk 5,000 crore subsidy to farmers on count of fertilizer pries
By AKM Moinuddin
Dhaka, Oct 27 (UNB) – Industries Minister Dilip Barua today dismissed speculation of fertilizer scarcity in the ensuing boro season and assured the farmers of reaching them the essential input for which Tk 5,000 crore subsidy provided on count of import..
Allaying the fears of short supply of fertilizer Barua told a press conference in his office that government has arranged adequate stock in meeting the farmers demand through proper management.
“We’ve taken precautionary measures…farmers won’t face fertilizer crisis in the peak season as we’ve all arrangements to meet fertilizer demand,” said the Minister.
The country is now heavily depended on import of fertilizer to meet the demand of major agricultural input as some fertilizer factories under the BCIC remain inoperative due persisting gas crisis. Tk 4,500 to 5,000 crore has been provided as subsidy on count of fertilizer import alone.
The amount was slightly lower (Tk 3,295 crore) lower than the subsidy given last year. It is because of decline in fertilizer price in the international market.
“Fertilizer demand always remains all-time high during the January-March period. We’ve set total demand of 12, 08,382 metric tons during the peck season. Of which, some 3, 35,000 MTs will be imported,” Barua said.
The government, however, planned to import 16.81 lakh metric tones of Urea during the current fiscal year through state-to-sate deals, international tenders and from Karnaphuli Fertilizer Company (KAFCO), Bangladesh.
Some 4.81 lakh metric tones of Urea will be procured through international tenders, while 6 lakh metric tones each from KAFCO and through state-to-state deals (Qatar-3 lakh MT, KSA-2 lakh MT, UAE-1 lakh MT).
“Both supply and production of fertilizers remained normal and farmers would not face any fertilizer crisis in the coming Boro season,” he said.
Talking about progress of fertilizer import he said about 17,000 metric tons of urea reached the country and were being unloaded at Chittagong and Mongla ports. Another 2 lakh MT of fertilizers will arrive by November.
The government set a demand target of fertilizer at 28.31 lakh metric tons for the current year, showing a sharp drop in targeted demand compared to the previous year’s target, when it was 29.51 lakh metric tons. The demand target of TSP and DAP (diammonium phosphates) is 5.60 lakh metric tones and 3.40 lakh metric tones respectively.
He claimed that the farmers haven’t faced any fertilizer crisis during the tenure of the present government, and nobody has had to sacrifice their lives for fertilizer, as happened before.
The actual production of fertilizer producing units under the BCIC till October 25 stood at 1, 66,194 metric tones against total production target of 11.50 lakh metric tones.
END/UNB
Dhaka, Oct 27 (UNB) – Industries Minister Dilip Barua today dismissed speculation of fertilizer scarcity in the ensuing boro season and assured the farmers of reaching them the essential input for which Tk 5,000 crore subsidy provided on count of import..
Allaying the fears of short supply of fertilizer Barua told a press conference in his office that government has arranged adequate stock in meeting the farmers demand through proper management.
“We’ve taken precautionary measures…farmers won’t face fertilizer crisis in the peak season as we’ve all arrangements to meet fertilizer demand,” said the Minister.
The country is now heavily depended on import of fertilizer to meet the demand of major agricultural input as some fertilizer factories under the BCIC remain inoperative due persisting gas crisis. Tk 4,500 to 5,000 crore has been provided as subsidy on count of fertilizer import alone.
The amount was slightly lower (Tk 3,295 crore) lower than the subsidy given last year. It is because of decline in fertilizer price in the international market.
“Fertilizer demand always remains all-time high during the January-March period. We’ve set total demand of 12, 08,382 metric tons during the peck season. Of which, some 3, 35,000 MTs will be imported,” Barua said.
The government, however, planned to import 16.81 lakh metric tones of Urea during the current fiscal year through state-to-sate deals, international tenders and from Karnaphuli Fertilizer Company (KAFCO), Bangladesh.
Some 4.81 lakh metric tones of Urea will be procured through international tenders, while 6 lakh metric tones each from KAFCO and through state-to-state deals (Qatar-3 lakh MT, KSA-2 lakh MT, UAE-1 lakh MT).
“Both supply and production of fertilizers remained normal and farmers would not face any fertilizer crisis in the coming Boro season,” he said.
Talking about progress of fertilizer import he said about 17,000 metric tons of urea reached the country and were being unloaded at Chittagong and Mongla ports. Another 2 lakh MT of fertilizers will arrive by November.
The government set a demand target of fertilizer at 28.31 lakh metric tons for the current year, showing a sharp drop in targeted demand compared to the previous year’s target, when it was 29.51 lakh metric tons. The demand target of TSP and DAP (diammonium phosphates) is 5.60 lakh metric tones and 3.40 lakh metric tones respectively.
He claimed that the farmers haven’t faced any fertilizer crisis during the tenure of the present government, and nobody has had to sacrifice their lives for fertilizer, as happened before.
The actual production of fertilizer producing units under the BCIC till October 25 stood at 1, 66,194 metric tones against total production target of 11.50 lakh metric tones.
END/UNB
Tuesday, October 26, 2010
Faruk terms New Delhi visit fruitful, Duty-free access of more Bangladeshi products likely to Indian market
By AKM Moinuddin
Dhaka, Oct 26 (UNB) – Commerce Minister Faruk Khan Tuesday hinted that an official announcement of India granting duty-free access of more Bangladeshi products to Indian market might come shortly, probably during Indian Premier Manmohan Singh’s visit to Dhaka at the beginning of next year.
Terming his recent New Delhi visit fruitful, he said Dhaka got a number of decisions in its favor and expressed high hopes about expeditious implementation of the decisions.
“It’s a fruitful visit in all aspects. Prompt decisions came out through discussions, which will be mutually beneficial for both the countries. I hope its implementation will have the same speed,” he told reporters at a press conference in his ministry this noon.
Although the Commerce Minister considered the entire visit was ‘full of achievements’ he preferred to keep cotton import issue on top of the achievements as the country’s vast textile sector was in trouble due to Indian ban on its export to Bangladesh.
“We’ll get nearly 12.35 lakh bales of cotton this year that will start arriving here from November. The consignments include fresh Indian assurance of exporting some 11 lakh bales of cotton in addition to those already contracted,” Khan said.
Bangladesh usually import 55 lakh bales of cotton from international market every year with major import from Uzbekistan (40 lakh bales), 10 lakh bales from India and 5 lakh bales from other countries, he said.
Faruk said Bangladesh sought to import a quota of 20 lakh bales of cotton from India to get a permanent solution to the problem that appears in the textile sector due to cotton crisis.
“Similarly, we sought quota on food grains export to Bangladesh,” the Minister said adding that India-pledged 3 lakh tones of rice and 2 lakh tones of wheat that will soon arrive in the country.
He said the Indian authority assured him of bringing necessary amendments to the relevant laws to remove non-tariff barriers to importing jute bags from Bangladesh .
“The Indian commerce minister has assured me about the duty-free entry of more Bangladeshi products. Currently 480 items are on India ’s negative list. We demanded to cut 61, mostly textile items (47), from the negative list and we’ll get a positive response very soon,” Khan said.
For the interim period, the Indian government has agreed to allow Bangladesh to duty-free export of 8 million pieces of garment products in 2011 in addition to the pending 1.6 million pieces by December this year.
“The export will be unlimited once our demand for delisting 61 products from India’s negative list is realized,” he explained.
Faruk said Indian Commerce and Industry Minister Anand Sharma will be visiting Dhaka within next 2-3 months.
He had a 45-minute unscheduled meeting with Indian Finance Minister Pranab Mukherjee during the visit when he has been assured of quick implementation of the joint communique signed during Prime Minister Sheikh Hasina’s visit to new Delhi in January this year.
On border hat, the Minister said a memorandum of understanding (MoU) on mode of operation was signed during his visit and hoped that border trading would formally be launched in February next year.
He said 25 traders from each country will be allowed primarily in such hats with unlimited access of buyers. No passport but national identity card will be required there.
Meanwhile, a deal on ‘Standard Operating Procedures’ was also signed to allow trucks from India and Nepal in Bangladesh’s territory (within 200 kilometers) and Bangladesh’s trucks into Indian territory for loading and unloading goods from the warehouses, he said.
Faruk informed that Bangladesh might get BSTI accreditation by December and a team from India would visit Dhaka to inspect BSTI.
On the other hand, Bangladesh business leaders had one-to-one talks with the Indian traders and leaders of leading Indian chambers.
He said four MoUs were signed at that time. India’s SRS Group signed a MoU with Nitol Group to set up a packaging industry in Bangladesh with initial investment of Tk 400 crore.
Meanwhile, a MoU between Uttara Motors and Tata Motors was signed to provide technical training facilities to Bangladeshi people, he said.
END/UNB/
Dhaka, Oct 26 (UNB) – Commerce Minister Faruk Khan Tuesday hinted that an official announcement of India granting duty-free access of more Bangladeshi products to Indian market might come shortly, probably during Indian Premier Manmohan Singh’s visit to Dhaka at the beginning of next year.
Terming his recent New Delhi visit fruitful, he said Dhaka got a number of decisions in its favor and expressed high hopes about expeditious implementation of the decisions.
“It’s a fruitful visit in all aspects. Prompt decisions came out through discussions, which will be mutually beneficial for both the countries. I hope its implementation will have the same speed,” he told reporters at a press conference in his ministry this noon.
Although the Commerce Minister considered the entire visit was ‘full of achievements’ he preferred to keep cotton import issue on top of the achievements as the country’s vast textile sector was in trouble due to Indian ban on its export to Bangladesh.
“We’ll get nearly 12.35 lakh bales of cotton this year that will start arriving here from November. The consignments include fresh Indian assurance of exporting some 11 lakh bales of cotton in addition to those already contracted,” Khan said.
Bangladesh usually import 55 lakh bales of cotton from international market every year with major import from Uzbekistan (40 lakh bales), 10 lakh bales from India and 5 lakh bales from other countries, he said.
Faruk said Bangladesh sought to import a quota of 20 lakh bales of cotton from India to get a permanent solution to the problem that appears in the textile sector due to cotton crisis.
“Similarly, we sought quota on food grains export to Bangladesh,” the Minister said adding that India-pledged 3 lakh tones of rice and 2 lakh tones of wheat that will soon arrive in the country.
He said the Indian authority assured him of bringing necessary amendments to the relevant laws to remove non-tariff barriers to importing jute bags from Bangladesh .
“The Indian commerce minister has assured me about the duty-free entry of more Bangladeshi products. Currently 480 items are on India ’s negative list. We demanded to cut 61, mostly textile items (47), from the negative list and we’ll get a positive response very soon,” Khan said.
For the interim period, the Indian government has agreed to allow Bangladesh to duty-free export of 8 million pieces of garment products in 2011 in addition to the pending 1.6 million pieces by December this year.
“The export will be unlimited once our demand for delisting 61 products from India’s negative list is realized,” he explained.
Faruk said Indian Commerce and Industry Minister Anand Sharma will be visiting Dhaka within next 2-3 months.
He had a 45-minute unscheduled meeting with Indian Finance Minister Pranab Mukherjee during the visit when he has been assured of quick implementation of the joint communique signed during Prime Minister Sheikh Hasina’s visit to new Delhi in January this year.
On border hat, the Minister said a memorandum of understanding (MoU) on mode of operation was signed during his visit and hoped that border trading would formally be launched in February next year.
He said 25 traders from each country will be allowed primarily in such hats with unlimited access of buyers. No passport but national identity card will be required there.
Meanwhile, a deal on ‘Standard Operating Procedures’ was also signed to allow trucks from India and Nepal in Bangladesh’s territory (within 200 kilometers) and Bangladesh’s trucks into Indian territory for loading and unloading goods from the warehouses, he said.
Faruk informed that Bangladesh might get BSTI accreditation by December and a team from India would visit Dhaka to inspect BSTI.
On the other hand, Bangladesh business leaders had one-to-one talks with the Indian traders and leaders of leading Indian chambers.
He said four MoUs were signed at that time. India’s SRS Group signed a MoU with Nitol Group to set up a packaging industry in Bangladesh with initial investment of Tk 400 crore.
Meanwhile, a MoU between Uttara Motors and Tata Motors was signed to provide technical training facilities to Bangladeshi people, he said.
END/UNB/
Indian company to invest Tk 400 crore to set up packaging industry in JV with Nitol Group
By AKM Moinuddin
Dhaka, Oct 26 (UNB) - SRS Group, an Indian conglomerate with business interest in real estate, multiplexes, retail, jewelry, and food and beverages, will soon set up a packaging industry in Bangladesh under a joint venture with Nitol Group.
SRS Group has already signed a Memorandum of Understanding (MoU) with Nitol Group during the recent New Delhi visit of a Bangladesh business delegation led by Commerce Minister Faruk Khan.
“They’ll (SRS Group) invest Tk 400 crore to set up the packaging industry,” Chairman of Nitol-Niloy Group Abdul Matlub Ahmad told UNB over phone.
He said they are looking for a suitable site for the project to be implemented shortly. “We’ll prefer a site within 50 kilometers of either Dhaka-Chittagong or Dhaka-Sylhet highway.”
During the three-day visit, Bangladesh delegation had an interactive business meeting with Confederation of Indian Industries from which the joint venture project was initiated.
After addressing the local demand, the products of the packaging industry (JV) will be exported to India and other countries, Commerce Minister Faruk Khan said while talking to journalists at the Commerce Ministry conference room on Tuesday.
Another MoU in private sector was also signed between Uttara Motors and TATA Motors during the visit, said Matlub, also president of India-Bangladesh Chamber of Commerce and Industry (IBCCI).
“Under the agreement, TATA will take up a number of projects including assembling and manufacturing of mini-trucks and providing training facilities in the automobile sector,” he said.
END/UNB
Dhaka, Oct 26 (UNB) - SRS Group, an Indian conglomerate with business interest in real estate, multiplexes, retail, jewelry, and food and beverages, will soon set up a packaging industry in Bangladesh under a joint venture with Nitol Group.
SRS Group has already signed a Memorandum of Understanding (MoU) with Nitol Group during the recent New Delhi visit of a Bangladesh business delegation led by Commerce Minister Faruk Khan.
“They’ll (SRS Group) invest Tk 400 crore to set up the packaging industry,” Chairman of Nitol-Niloy Group Abdul Matlub Ahmad told UNB over phone.
He said they are looking for a suitable site for the project to be implemented shortly. “We’ll prefer a site within 50 kilometers of either Dhaka-Chittagong or Dhaka-Sylhet highway.”
During the three-day visit, Bangladesh delegation had an interactive business meeting with Confederation of Indian Industries from which the joint venture project was initiated.
After addressing the local demand, the products of the packaging industry (JV) will be exported to India and other countries, Commerce Minister Faruk Khan said while talking to journalists at the Commerce Ministry conference room on Tuesday.
Another MoU in private sector was also signed between Uttara Motors and TATA Motors during the visit, said Matlub, also president of India-Bangladesh Chamber of Commerce and Industry (IBCCI).
“Under the agreement, TATA will take up a number of projects including assembling and manufacturing of mini-trucks and providing training facilities in the automobile sector,” he said.
END/UNB
Subscribe to:
Posts (Atom)
