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Divisive politics, red-tape, rent-seeking key challenges: WB

The World Bank has identified confrontational politics and bureaucratic red-tape as key challenges for Bangladesh to speed up growth and promote itself as a middle-income country by the early next decade. Sharing views with the newsmen at the WB office at Agargoan on Monday, WB country director Johannes Zutt said divisive and confrontational politics could bring uncertainty in policy decisions, reports the New Age. Uncertainty affects the process of addressing critical problems, he added. He said bureaucratic red-tape as well as widespread rent-seeking impedes economic growth and investment.

Separate EC to elect Grameen Bank board likely  

The government is likely to form an Independent Election Commission (IEC) soon headed by a retired judge for holding election of the board of directors of Grameen Bank (GB) in a move to shift the responsibilities of electing the Grameen Bank board from Bangladesh Bank. The move comes after the central bank had recently expressed its inability to oversee the election. Two ministers – Finance Minister AMA Muhith and Law Minister Anisul Islam Mahmud – have discussed primarily about formation of the IEC. The final decision may come within a few weeks, reports the Daily Sun. “This has not been decided yet, but this might be the appropriate way to hold the (GB board of directors) election. Final decision in this regard would come soon—perhaps by the next couple of weeks,” said Dr Md ...

Fish farming loses tax privileges  

The National Board of Revenue yesterday withdrew tax privileges for fish farming to rein in tax-dodging by a section of dishonest taxpayers who allegedly shift income from other sources to fisheries to evade tax. The existing tax rate of 3 percent on income from fish cultivation will no longer be effective, the NBR said in a notice. Income from the sector will be subject to normal tax rates, it said. “It means the tax rate for companies involved in fish farming will be 35 percent. And individuals having income from fish cultivation will pay tax at normal rates depending on their income levels,” an NBR official said, asking not to be named, reports the Daily Star.

Two-year jail term for child marriage

The government on Monday approved a law setting a two-year jail term for anyone involved in marrying a girl aged under 18, in a bid to cut the country's notoriously high child marriage rate. The new law comes days after new UN figures showed saudi marriagetwo-thirds of Bangladeshi girls marry before they reach adulthood. It targets the parents or guardians and the marriage registrar as well as the groom, reports AFP. "Anyone found responsible for child marriage, including the groom, the marriage registrar or the guardians, would...

Bangladesh NDC team arrives in Sri Lanka

A delegation of 32 service personnel from Bangladesh National Defence College (NDC), headed by Rear Admiral Muhammad Anwarul Islam currently in Sri Lanka on a familiarization tour as part of their curriculum, called on Major General Sumedha Perera, Director General General Staff at the Army Headquarters, Colombo on Friday (12). Sri Lanka Air Force (SLAF) has extended the invitation for this visit as a token of goodwill and bilateral relations. NDC SLThe delegation on arrival at the Army Headquarters was received by Major General Sumedha Perera ...

Bangladesh to give Omani citizens visa on arrival

The government of Bangladesh will now extend visa on arrival facility to Omani citizens, a statement issued by the country’s embassy here said. “Considering the existing excellent bilateral relations and the growing friendship and interaction between the people of the two brotherly Muslim countries, the government of Bangladesh has unilaterally decided to extend visa on arrival facilities for all Omani citizens,” the statement said. visa omanCitizens of Oman holding diplomatic, official or regular passport, who intend to visit Bangladesh ...
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