Finance Minister speaks at SPIEF 2016
The 20th St. Petersburg International Economic Forum (SPIEF 2016) was held on June 16-18 at ST. PETERSBURG, Russia. A strong business delegation from Bangladesh led by Finance Minister, Abul Maal Abdul Muhith, MP attended the Forum.
The key topics of discussion are the new economic reality and the search for new sources of growth. The most important discussion for Bangladesh took part in the Russia-Bangladesh: Era of New Opportunities session where Finance Minister shared his interest in his Key Note Speech
Bangladesh project exposes India EXIM Bank to high risk
According to the report released by the Institute for Energy Economics and Financial Analysis (IEEFA) on Friday the Bangladesh-India Maitree project could effectively end up in a financial mess.
The Coal based power plant proposed to be built near the city of Khulna, close to the Sundarbans mangrove forest, is a joint venture between India and Bangladeshs state owned entities. The project is heavily subsidized, exposes investors, taxpayers and consumers to high risk and is a potential stranded asset in the making.
We examined the Rampal coal power project on parameters such as funding, investment, cost of production, supply of fuel as well as risk due to extreme weather events. The project fails on a
67.5pc budget for non-dev expenditure frustrating
The International Business Forum of Bangladesh (IBFB), one of the leading organizations of the business leaders and civil society members, organized a press conference on “Reaction of IBFB on National Budget 2016-17” on June 8, 2016 at the VIP Lounge of the National Press Club, Dhaka. Mr. Hafizur Rahman Khan, President of IBFB, presented the IBFB’s reactions at the press conference, where, among others, Mr. Humayun Rashid, IBFB Vice President (Finance), Ms. Lutfunnisa Saudia Khan, IBFB Director; Mr. M. S. Siddiqui, IBFB Director; Mr. Md. Ali Deen, IBFB Director; Mr. Md. Ershad Hussain Rana, IBFB Director; Mr. Syed Mustafizur Rahman, IBFB Director, Dr. Md. Mozibur Rahman, IBFB Director and former Chairman of Bangladesh Tariff Commission; Dr. Md. Abdul Mazid, Chairman of IBFB Finance Comm...
WB grants to strengthen BD college education
The World Bank today approved $213 million for two projects in Bangladesh to improve weather and climate information services and to strengthen college education provided through affiliates of the National University.
The $113 million Weather and Climate Services Regional Project will help Bangladesh provide reliable weather, water and climate forecasts and enable communities, especially farmers, to access weather information services easily. The $100 million College Education Development Project will help improve the teaching and learning environment of government and non-government colleges affiliated with the National University.
‘To reach middle-income country status by 2021, Bangladesh needs to focus on priority areas, which include creating a skilled and competent workforce,...
VAT increase to lead SME sector feel the heat
Finance Minister AMA Muhit, MP, proposed the National Budget for 2016-17 FY in the National Parliament on 2nd June 2016. The size of the proposed budget is Tk. 3 Lac 40 Thousand 605 Crore, where non-development expenditure is 2 Lac 29 Thousand 900 Crore, development expenditure is Tk. 1 Lac 10 Thousand 700 Crore and total deficit is Tk. 97 Thousand 853 Crore, which is 5% of GDP. In the proposed budget, the total revenue was targeted at Tk. 2 Lac 42 Thousand 752 Crore, where NBR earnings were projected as Tk. 2 Lac 3 Thousand 152 Crore which is 35.4% higher than the corrected target of the running FY, and non-NBR earnings were projected as Tk. 39 Thousand 600 Crore. This target of revenue earnings, without any doubt, can be termed as ambitious and seems to be ‘not so easy to ...
TK 1.10 lakh crore allocation for ADP in FY17
The proposed National Budget for the fiscal 2016-17 has set an Annual Development Programme (ADP) with the original outlay of Taka 1,10,700 crore aiming to ensure a balanced development and higher growth.
In the new ADP, transport, education, power, rural development, health, and water sector have been given highest priority, reports BSS.
However, incorporation of Taka 12,645.80 crore of own financing projects from the corporations and autonomous organizations has inflated the ADP outlay to Taka 1,23,345.80 crore.
“Like previous years, we have estimated the ADP allocations while giving priority to ensuring regional parity, developing human resources and infrastructure and securing quality of
