Binayak Sen, director general of the Bangladesh Institute of Development Studies (BIDS), told Prothom Alo that he thinks it is necessary to reduce duties on essential goods to almost zero for at least a year, and there may also be some advance income tax. He said the government may take a closer look at the…
These include bridge over Padma river, metro rail in Dhaka, tunnel under Karnaphuli river, expressway, modern international airport in Dhaka, power plants, etc, he said. He said that the legal and financial infrastructure is also being enhanced, and this has strengthened our domestic and regional connectivity. Sheikh Hasina said Bangladesh is currently one of the…
Mentioning that advice from foreigners would not be fruitful in the country, he said, “Someone will come to the country (from abroad) for a day or two and give us advice, but that advice will not be fruitful for us.” “It will be useful when you see with your own eyes and work for the…
Nearly five months after the export ban, on February 26, India decided to exempt Bangladesh as well as five other countries from the export ban on onions up to a certain quantity. Last month, the export ban on onions was extended till further orders.
The proposal on the revised fuel price has been sent to the Prime Minister's Office as Prime Minister Sheikh Hasina is the Minister of Power, Energy and Mineral Resources. As soon as the proposal is approved, a gazette will be issued on the revised price. BPC always makes profits from petrol and octane prices. Seventy-five…
Typically, the price tariff is set at a price lower than the purchase price, thus, reducing the expense of the BPC. However, if the National Board of Revenue (NBR) wants to impose import duty on procurement prices, BPC’s expenditure on fuel oil will increase. Since the government has not yet finalized the matter, BPC has…
Analysts say high inequality creates social instability. The workers’ agitation has intensified demanding salary increase. Many analysts believe that high inequality levels hinder economic growth. The global risk report further said that Bangladesh will lag behind in meeting the Sustainable Development Goals (SDGs) due to lack of funds. To meet the SDGs by 2030, Bangladesh…
Although there has been no direct impact on supply so far, the IEA said it stood ready to take action if needed to ensure adequate supply. Meanwhile, as 2024 approaches, a higher interest rate environment aimed at curbing inflation in major Western economies and the resulting stronger US dollar is dampening demand in low-income emerging…
Bangladesh Bank does not maintain reserves. It invests in various sectors. The central bank benefits from these investments. Many times one has to suffer loss due to this. A large part of the reserves are now in dollars. Its amount is about 18.45 billion dollars, which was 31.90 billion dollars in June last year. Apart…
PM for reorganizing financial system to overcome global economic crisis
Argentina’s Rosario Grain Exchange on Wednesday issued an improved forecast for the South American country’s 2023/24 soybean and corn crops. The exchange predicted a soybean crop of 48 million metric tons, up from 20 million tons last season, while the corn crop could be 56 million tons, up from the 34 million tons forecast for…
Strategists at BlackRock Investment Institute wrote that although Fitch’s action is unlikely to be a market driver, it “reinforces our view that rising inflation and debt burdens may cause investors to demand more over time.” Will induce… government debt to compensate for long-term risk.” “We see DM (developed market) bond yield curves increasing over time…
While a major banking crisis was not in the IMF’s baseline, Gourinchas said a significant deterioration in financial conditions could recur as nervous investors seek to test the “next weakest link” in the financial system as they look at credit. Did it with Suisse. The report includes two analyzes showing financial turmoil has a moderate…
Undue Privileges and Widespread Corruption Big Problem