Revenue shortfall widens in tax receipts
The shortfall in revenue collection further widened in the first four months of the current fiscal year. Officials of the National Board of Revenue (NBR) said, NBR continued to struggle in achieving its revenue collection target amid volatile political environment and economic slowdown prevailing in the country.
According to NBR data released on Thursday, the revenue board fell short of target by Tk 3,119.68 crore or 8.58 per cent in July-October of FY 2013-14.
In the period, the NBR managed to collect Tk 33,492.84 crore against the collection target of Tk 36,612.52 crore, the data showed.
Top 10 remitters to be rewarded each year: NRB database launched
Bangladesh Bank (BB) will reward ten top remitters every year to encourage Non-Resident Bangladeshis (NRBs) to send home their hard-earned money for the development of the country.
BBB Governor Dr. Atiur Rahman Monday launched NRB (non-resident Bangladeshi) Database Web Link to help get connected with central bank, promote and uphold investment information and make it as hub for the NRBs.
"I've instructed officials concerned to take necessary measures to honour top remittance senders from this year," said the BB Governor.
Describing the NRBs as national heroes of Bangladesh, the Governor said NRBs must be respected because of their contribution for the country's economy.
Bangladesh is one of the top remittance-earning countries in the world and it received $14 billion worth ...
ECNEC reconstituted; 4 new ministers incorporated
The Executive Committee of National Economic Council (ECNEC) was reconstituted on Monday following the formation of a new cabinet for election oversight.
The Council was reconstituted with 13 members brining in four newly-appointed ministers – Industries Minister Tofail Ahmed, Land Minister Amir Hossain Amu, Posts and Telecommunication Minister Rashed Khan Menon and Health and Family Planning Minister Rowshan Ershad, reports UNB.
Prime Minister Sheikh Hasina will continue to hold her office as Ecnec chairman while Finance Minister AMA Muhith as its alt...
The Council was reconstituted with 13 members brining in four newly-appointed ministers – Industries Minister Tofail Ahmed, Land Minister Amir Hossain Amu, Posts and Telecommunication Minister Rashed Khan Menon and Health and Family Planning Minister Rowshan Ershad, reports UNB.
Prime Minister Sheikh Hasina will continue to hold her office as Ecnec chairman while Finance Minister AMA Muhith as its alt...
October export growth hit the lowest in 14 months
The country’s export earning growth in October hit the lowest in 14 months to 2.03 per cent. In August 2012, the earning had posted a negative 17.89 per cent growth.
Industry insiders have attributed the lower growth to production disruption for long due to Eid vacation and labour unrest in the garment sector as well as political turbulence.
According to the EPB data, the export earnings rebounded in September of the current financial year with a 36.26 per cent growth but the growth decreased further in October.
The export earning in July-Octob...
The export earning in July-Octob...
BB continues to purchase US dollars from banks
The central bank has continued to purchase US dollars from the commercial banks directly aiming at keeping the inter-bank foreign exchange market stable, officials said Sunday.
"We've strengthened our intervention in the foreign exchange (forex) market recently to protect the interests of exporters and migrant workers by keeping the exchange rate of the local currency against the greenback stable," a senior official of the Bangladesh Bank (BB) told the Financial Expres (FE).
He also said the BB is buying US dollars continuously from the banks to offset higher inflow of foreign exchange in the market.
As part of the move, the BB ...
As part of the move, the BB ...
