Dhaka will sign a deal with New Delhi on duty-free export of eight million pieces of Bangladeshi readymade garments to India annually.
Chaired by Chief Adviser Fakhruddin Ahmed, a meeting of the Council of Advisers yesterday approved a proposal for signing the MoU on duty-free import of the RMG products by the Indian government through Tariff Rate Quota (TRQ) system under the purview of Safta agreement.
The meeting also approved the draft of the Bank Companies (Amendment) Ordinance 2007 updating the Bank Companies Act 1991 in order to streamline the banking sector.
Under the new Bank Companies Ordinance, the definition of ‘bank’ has been specified so that except for the Bank Companies no other company can use the term ‘bank’ to mislead people.
The paid-up capital of bank has been doubled to Tk 200 crore from earlier Tk 100 crore.
“Bangladesh Bank, in consultation with the government, if necessary, can change the amount through government gazette notification,” says the statement on objective of the amended law.
The council meeting also approved an amended proposal on policy guidelines of the government for the purchase of electricity from Captive Power Plants (CPPs).
Under the policy guidelines, the government can purchase per-unit electricity at the rate of Tk 2.23 from the CPPs. It also extends the period of agreement with a CPP to three years from six months.
The Council of Advisers reviewed the post-flood rehabilitation programme in the flood-affected districts, according to CA’s Press Secretary Syed Fahim Minaim.
Thanking the advisers for performing well their flood and relief-monitoring tasks in the respective assigned districts, the chief adviser urged them to go to the flood-hit districts to see for themselves the rehabilitation activities.
He also asked for utilising the maintenance budget of the respective ministries for repairing work as necessary for various infrastructures damaged by the recent floods.
All members of the Advisory Council, the cabinet secretary and the secretaries concerned were present attended the meeting at the Chief Adviser’s Office.
Categories: Bangla, Bangladesh, Bangladesh Economy, Bangladesh News, Daily Bangladesh News, Economy, News
