Land crisis irritates cross border trades in Sonamasjid
Crisis in export through an Indo-Bangladesh cross-border trade gate has reached an unprecedented height to prompt the traders to knock the door of top officials at diplomatic level. It is Mahadipur Land Customs Station in West Bengal that has Sonamasjid Land Port of Bangladesh in the other side of border, that has become a concern for the Indian cross border traders.
“Lack of infrastructure in Bangladesh side of the port has become a nightmare,” said Mr. Ujjal Saha, Secretary, West Bengal Exporters Coordination Committee, a body affiliated to Federation of Indian Export Organization.
Investment in private sector may shrink on BB stance
The move by Bangladesh Bank (BB) for maintaining higher cash reserve requirement (CRR) to absorb access liquidity from the banking system would fail to contain inflationary pressure rather it would adversely hamper private sector investment in the country.
The monetary policy for the first half of current fiscal (2014-15) may fail to achieve the target of taming inflation to 6.5 percent and ensuring the private sector credit growth of 16.5 percent, set for the first half of FY2014-15.
The Unnayan Onneshan
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NBR fails to achieve downsized revenue target for FY14
The National Board of Revenue is going to set a strategic plan today to achieve its revenue collection target for the current fiscal year of 2014-15 in the backdrop of a significant shortfall in collection in the last fiscal year, NBR officials said.
They said that the NBR fell short of its revised target by around Tk 4,500 crore in the FY 2013-14 as the VAT and income tax wings of the revenue board failed to achieve the target set for the year.
In this context, the revenue board called a meeting to prepare the plan and invited all its...
In this context, the revenue board called a meeting to prepare the plan and invited all its...
Nearly 30 commercial banks fail to meet spread target
Some 28 scheduled commercial banks have failed to keep their spreads within the targeted 5 per cent in the last month (June) of the just concluded fiscal year 2013–14.
The banks’ average spread stood at 5.31 per cent in June, which was the highest rate during the last fiscal.
Spread refers to the difference in borrowing and lending rates of financial institutions in nominal terms. The average spreads of nationalised and specialised banks, however, remained within the central bank’s prescribed rate, barring BASIC Bank. But the situation is a little different in cases of the private commercial banks (PCBs) and foreign commercial banks (FCBs), the rates of which were over 5 per cent, reports the Independent.
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Record $ 1.48b remittance in July
Migrant workers last month sent home $1.48 billion, the highest inflow of remittance in a single month in Bangladesh’s history.
The record flow of remittance could be attributed to celebrations of Eid-ul-Fitr in the last week of July, the country’s biggest festival.
The amount is 15.19 percent higher than in the previous month and 19.67 percent from July last year, the central bank said in a statement yesterday.
Last month’s receipts surpassed October 2012’s $1.45 billion, the highest for a single month previously, reports ...
Last month’s receipts surpassed October 2012’s $1.45 billion, the highest for a single month previously, reports ...
WB changes approach to tackling corruption in BD
After the much-publicised Padma bridge episode, the World Bank (WB) has now realigned its approach to tackling corruption in projects.
Previously, the multilateral lender would wash its hands off projects as soon as allegations of corruption surfaced. But now, in essence, it will carry on with the projects but will work with local authorities to identify and snuff out the issues.
“When evidence of corruption comes to light, its response should not be to disengage, but to engage differently,” it said in its Country Assistance Strategy Progress Report.
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