Archive for June 13th, 2009
Saturday, June 13th, 2009Finance Minister AMA Muhith yesterday said overall implementation of the budget is a much bigger challenge than mobilisation of resources.Speaking at a post-budget press conference, he also noted that collection of revenues is easier than their proper utilisation.Asked why he allowed money-whitening despite his disapproval of the provision, Muhith replied, "Politics is the highest art of compromise."Agriculture Minister Matia Chowdhury and Planning Minister AK Khandker were those present at the press conference at the auditorium of National Economic Council (NEC).The previous day, Muhith placed the national budget for fiscal year 2009-10, drawing a sharply mixed reaction.He said like implementing the ...
(read more) Saturday, June 13th, 2009Private think tank Centre for Policy Dialogue (CPD) has rejected the view that the proposed budget is an ambitious one and said many of the projections, including economic growth, have been estimated lower than capacity.“Rather it's a conservative budget in terms of the growth projections and people's expectations,” Dr Debapriya Bhattacharya, distinguished fellow of the CPD, told reporters yesterday at BRAC Centre Inn. CPD Executive Director Mustafizur Rahman was also present.Growth projections on GDP (gross domestic product), investment and tax income have been shown below the capacity levels, observed the CPD.“Even the private sector investment growth has been projected at ...
(read more) Saturday, June 13th, 2009The provision for whitening undisclosed money in the proposed budget for the fiscal year 2009-'10 is 'a political compromise', said the finance minister yesterday, after several organisations scathingly criticised the government's move.Every year during budget time, the issue of whitening black money becomes a topic of hot debates as prominent citizens' groups think such an opportunity discourages honest taxpayers to pay tax on time.The incumbent prime minister and her finance minister had opposed allowing money whitening when they had been in the opposition during the last four-party alliance regime. Finance Minister Abul Mal Abdul Muhith opposed it even after becoming ...
(read more) Saturday, June 13th, 2009Awami League lawmaker MA Latif was involved in a scuffle with law enforcers when the MP with his men tried to force his way into a Water Transport Coordination Cell (WTCC) meeting in Chittagong yesterday.Latif, also the president of Chittagong Chamber of Commerce and Industry (CCCI), claimed that he was assaulted by police while police claimed that a few of their officers were attacked by the lawmaker himself.The WTCC was scheduled to hold a meeting in which an ad hoc committee was to take charge in presence of Shipping Minister Afsarul Amin. Latif was not included in the committee. He ...
(read more) Saturday, June 13th, 2009The government's move to revoke the VAT exemption facility for manpower exporters will ultimately hurt migrant workers, as it will increase the cost of going abroad for work, recruitment agents and migration analysts said yesterday."At a time when manpower export is suffering from the fallout of the global economic recession, such a move is an insult to injury," said Ghulam Mustafa, president of Bangladesh Association of International Recruiting Agencies (Baira).Finance Minister AMA Muhith proposed revocation of the VAT exemption facility for manpower exporters, travel agents, and a few other sectors, in his budget speech on Thursday.Recruiting agents and analysts ...
(read more) Saturday, June 13th, 2009The government plans to form a high-powered body to supervise the development projects under various ministries and ensure their quick implementation.Prime Minister Sheikh Hasina has already consulted some of her close aides about formation of a planning implementation body, said sources.Many policymakers believe that a number of projects remain unimplemented after receiving approval from the Executive Committee of National Economic Council (ECNEC) due to absence of a body for monitoring the government projects.Sources said the status and size of the body is yet to be decided. However, they said a professor at the Economics Department of Dhaka University ...
(read more) Saturday, June 13th, 2009Business leaders yesterday hailed the government's concept of the public private partnership (PPP) initiative in the budget to implement different projects in infrastructure, health and education sectors.They, however, gave mixed reactions over whitening of black money in the proposed budget for the fiscal year 2009-10.The trade body leaders also expressed their concern over the possible price rise of basic commodities in local markets due to government's laxity in monitoring the market.Syed Earshad Ahmed, president of American Chamber of Commerce in Bangladesh (AmCham) said, "I personally welcome the concept of public private partnership (PPP) as it is a new element in ...
(read more) Saturday, June 13th, 2009At least 39 Taliban militants and 10 soldiers were killed in fierce fighting in northwest Pakistan's Swat valley while two suicide bombings in a mosque and madrasa killed six others, the military said yesterday."During last 24 hours, 39 terrorists were killed in various areas of Malakand. At the same time, 10 soldiers embraced shahadat (martyrdom) and 24 were injured," it said in a statement.Malakand region includes Swat, Dir and Buner districts where the military has launched operations since April 26 against Taliban militants.Earlier at least six people including a prominent anti-Taliban cleric were killed and more than 90 wounded in ...
(read more) Saturday, June 13th, 2009The proposed budget for fiscal year 2009-10 is a "bold and challenging one" as the government will face up to financing and implementing the budget astutely, said Metropolitan Chamber of Commerce and Industry (MCCI) yesterday."Financing and implementing the budget will be the two major challenges," the chamber said in a written reaction to the budget.It also came down on the government for keeping the provision of whitening undisclosed income and that for three years.Finance Minister AMA Muhith presented a Tk 1,13,819 crore budget to the nation on Thursday.The budget's net outlay is to be financed by 56.2 percent from tax ...
(read more) Saturday, June 13th, 2009The government will update the existing labour laws to stop children doing hazardous jobs, said Law Minister Shafique Ahmed yesterday.Since many families depend on the incomes of their children, child labour should not be stopped straightaway enacting any law, he said, adding that the government is trying to rehabilitate the poor children, who are engaged in different jobs, by creating facilities for their education and financial development.He was speaking as the chief guest at a meeting organised by Disadvantaged Adolescents' Working NGOs (DAWN) Forum marking the World Child Labour Resistance Day, 2009, at Dhaka Mohanagar Natya Mancha.Presided over ...
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