Country to get laptop at Tk 15,000

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Country to get laptop at Tk 15,000
Bangladesh Sangbad Sangstha . Dhaka

Post and telecommunications minister Rajiuddin Ahmed on Saturday said the government would start, from next June, manufacturing laptops that would be sold at Tk 15,000 each.

Country would probably launch its first satellite by 2013, he added.

‘We will float tender in next June for launching a satellite and hopefully we will be the owner of a satellite worth about $ 3 million by 2013,’ he said while addressing a seminar at the Military Institute of Science and Technology at the Mirpur Cantonment in Dhaka.

MIST computer science and engineering department held the seminar on ‘roadmap to digital Bangladesh-role of ICT education.’

Chief of army staff General Abdul Mubeen spoke as the special guest while MIST commandant Major General Habibur Rahman Khan was in the chair.

Export earnings cross $16 billion in nine months

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Export earnings cross $16 billion in nine months
Special Correspondent

Exports grew by 40.31 percent in nine months of the current fiscal year, compared to the same period a year ago, the commerce ministry said on Wednesday.

A report of the Export Promotion Bureau shows the country exported goods worth $16,207 million during July-March of the current 2010-11 fiscal, up from $11,551 million in the same period of 2009-10.

The government data shows that in March alone, exports grew by 40.56 percent, compared to the same month of the previous year, to $2.14 billion.

Shipment of major items including knitwear, woven or cut and sew garments, jute and jute goods, home textiles, frozen food, shrimp and leather goods increased significantly during the July-March period.

The knitwear sector earned $6.6 billion, which is a 44.36 percent rise from the same period in the previous year while woven garment exports grew to $6 billion, up 37.76 percent compared to the same period last year.

‘As unit price of apparels and textiles remain high due to costlier yarns and fabrics, export earnings for apparels and textiles kept increasing in recent months, compared to that of the corresponding period of last year,’ said Faruque Hassan, vice president of the Bangladesh Garment Manufacturers and Exporters Association.

Readymade garments consist 80 percent of the entire export earnings while home textiles and other non-apparel textile products earned around 6 percent.

‘Export orders from foreign buyers still remain high to but due to infrastructure problem and shortage of skilled workers further growth potential will remain uncultivated,’ he said.

Jute and jute goods export rose to $837 million in July-March 2010-11, growing 44 percent year-on-year, home textile exports rose to $555 million, growing 98 percent, frozen foods to $471 million, up 57 percent and footwear export grew by 50 percent to $222 million.

Despite most major items showed significant rise in shipments, some items suffered negative growths in exports. Among such significant export items, export earning from terry towels declined by 7.39 percent to $94 million, bicycle 10.23 percent to $72 million and tea 56 percent to $2.31 million.

EPB had set an export target to earn $18.5 billion for the current fiscal year, which is 14.16 percent more than the actual earnings last year. But export sector insiders predict that earnings would be around $22 billion by the end of this fiscal.

During 2009-10, the total export earnings were $16.2 billion against a target of $17.6 billion but real earnings was 4.11 percent higher than the earnings of 2008-2009 fiscal year.

New policy on shipbuilding soon: minister

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New policy on shipbuilding soon: minister
Star Business Report

The government will finalise the policy for shipbuilding and shipbreaking sector by the next two months in a bid to accelerate the growth of the promising sector, Industries Minister Dilip Barua said yesterday.

Barua said, “We are working to put the policy in place to ensure environment fri-endly and sustainable growth of the sector.”

The minister was addressing a workshop on “Identifying Regulatory Barriers and Improving Transference in Ship Building Industry”, organised by International Business Forum of Bangladesh (IBFB) at Sheraton Hotel in Dhaka.

He said the government is working over a ship industry promotion council to give policy support to the shipbuilding sector.

The IBFB also disclosed findings of a report on Bangladesh shipbuilding industry at the advocacy workshop. Suhel A Choudhury, former secretary of commerce and shipping ministries, led the six-member committee constituted by the IBFB.

The committee suggested three sites for establishing a special shipbuilding zone. These are East bank of Karnaphuli river, Meghna Ghat area and Chalna basin.

The special economic zone should have technical and geographical facilities including a deep channel with 200-plus metres height of bridges on the rivers and good electricity and gas supply for a fully export-oriented shipbuilding industry, said Choudhury.

The report also identifies some financial constraints — high interest rates, credit ratings of local banks and barriers to hire foreign experts.

Choudhury said, “The cost of generating bank guarantees from local banks is a huge burden for this sector as they have to pay about 6 to 7 percent interest.”

Poor inland water transport facility is another barrier for the development of the shipbuilding sector, said Choudhury.

About 90 percent exports and imports of Bangladesh are executed by sea because inland water transportation system was neglected, he added.

However, the report said, the newly emerging Bangladesh shipbuilding can become the next major export sector if the government formulates and executes a properly designed policy framework.

Public-private partnership may be encouraged in this sector and some existing state-owned shipyards may be put to use to their fullest capacities, said Choudhury.

The report also suggested that Bangladesh Bank should introduce refinancing scheme at a lower interest rate and provide industrial loans and working capitals for setting up new shipyards as well as expansion of existing units.

Speaking as a special guest, Abdul Mannan Howlader, secretary of ministry of shipping, said the inland container port will start operation from this year.

German Ambassador to Bangladesh Holger Michael said Bangladesh should develop and nurture the shipbuilding industry to turn the country into a major economic hub as it has potentials to grow.

Mahmudul Islam Chowdhury, president of IBFB, said shipbuilding industry has a possibility to grow like the readymade garment sector as the country has cheap labour available.

Western Marine Managing Director Sakhawat Hossain urged the government to formulate a proper policy to support the sector as it will give Bangladesh a new name as a shipbuilding nation in the global market.

Russia to ease entry of Bangladeshi goods

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Russia to ease entry of Bangladeshi goods
Diplomatic Correspondent

Russia will liberalise rules related to trade for allowing entry of more Bangladeshi items, particularly the pharmaceutical products, into its market.

The assurance came during a bilateral meeting between the foreign ministers of Bangladesh and Russia in Moscow on Wednesday.

Russian Foreign Minister Sergey V Lavrov and Bangladesh Foreign Minister Dipu Moni led their respective countries at the meeting.

The Russian side gave assurance of expediting and liberalising the registration procedures for Bangladeshi pharmaceutical products, a foreign ministry press statement said yesterday.

The Russian foreign minister said at the meeting that Bangladesh enjoyed duty-free and quota-free access as an LDC under the framework of Council of Euro-Asian Economic Community, members of which are Russia, Belarus and Kazakhstan.

Under the framework, jute, tea, frozen foods and pharmaceutical products can enjoy duty and quota-free access.

Dipu Moni reiterated her request to Russia to extend the duty and quota-free access to readymade garments, ceramics and knitwear.

The foreign ministers reviewed the whole range of bilateral relations between the two countries including economic, energy and power, trade, cultural, educational and defense cooperation.

The two ministers especially discussed the proposed visit of Prime Minister Sheikh Hasina to the Russian Federation.

They also discussed cooperation in construction of nuclear power plant in Bangladesh, reviewed status of a number of proposed agreements, duty and quota-free access of Bangladeshi products to Russian market, and exchanging diplomatic properties.

Dipu Moni expressed her satisfaction over developments in the preliminary steps for setting up the nuclear power plant, assistance of Gazprom in the oil and gas exploration sector, and modernisation of old electricity generation units.

The Bangladesh minister was also happy with the status of draft agreements some of which were ready to be signed during the forthcoming visit of Prime Minister Sheikh Hasina.

The two foreign ministers also discussed different regional and international issues of common concern.

Dipu Moni gratefully recalled the valuable contribution of the government and people of former Soviet Union and the Russian people in the War of Liberation in 1971.

The Russian foreign minister said the Bangladesh prime minister’s visit would pave the way forward for strengthening cooperation between Bangladesh and Russia. The Russian foreign minister hosted a luncheon in honour of Dipu Moni.

The Bangladesh foreign minister was assisted by Bangladesh Ambassador to the Russian Federation SM Saiful Hoque and senior officials from the foreign ministry, while the Russian foreign minister was assisted by Russian Deputy Foreign Minister Alexey N Borodavkin and other senior officials of the Russian foreign ministry and Gazprom.

The two foreign ministers also briefed the members of the local and international press based in Moscow.

Local airlines’ market share on the up

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Local airlines’ market share on the up
Mashiur Rahaman

DHAKA, APR 9: Bangladeshi airlines in 2010 have witnessed a remarkable growth in the numbers of international flyers, thanks to their vigorous expansion.

A recent comparative analysis by the Civil Aviation Authority of Bangladesh (CAAB) shows foreign airlines that operate in Bangladesh, have lost their market control to their local counterparts. It came down to 65 per cent in 2010 from 71 per cent in 2009. For the first time, local carriers have managed to check the ever-growing growth of international carriers, CAAB official told The Independent.

The country’s national airline — Biman Bangladesh Airlines along with two other private airlines, has secured 35 per cent market share at the end of 2010.

Bangladeshi airline operators managed to secure 29 per cent market share in 2009, the CAAB released data revealed.

Biman with 1.16 million passengers improved its market share to 28 per cent at the end of 2010. In 2009, the national airline managed to secure 24 per cent market share, transporting 1.05 million passengers.

Growth in the market share of international flyers was also registered by GMG Airlines, the largest private carrier in Bangladesh.

At the end of 2010, GMG’s control in the segment improved significantly to 6 per cent from 4 per cent of 2009, the CAAB data revealed.

Market share of United Airways (BD) Limited has remained unchanged; it managed 1.0 per cent in both 2010-9. “This is an achievement for Biman’s management,” Managing Director and CEO of Biman Bangladesh Airlines Air Commodore Muhammad Zakiul Islam (Rtd.) said.

The growing number of air-travellers has been the major driving force for Biman’s growth in market share. The successful Hajj operations have also added to the cause.

“With the addition of more aircrafts in Biman’s fleet in the later half of the year, we are expecting to reach newer destinations and increased frequency. This will enhance our market share even further and faster,” Mr Islam said.

The state-airline transported 45,000 Hajj pilgrims in the last season, highest ever in the airline’s history.

The market share of Biman in the international air travel once boasted of 50 per cent. But since early 2000’s the story has changed and it kept on decreasing until the recent success.

“The growth in market share by the local airlines proves that we can regain our lost control over international passenger traffic, if quality and timely service is ensured,” Managing Director of GMG Airlines Shahab Sattar told The Independent.

Since the inception of private airlines in Bangladesh, operators have tried to convince the local regulatory authority that Bangladeshi airlines have the potential to become major player in the airline industry.

“With regular expansion of our fleet and by adding more destinations, we have ensured to grow and it will continue in the years to come,” Mr Sattar said.

To sustain this growth, we need supportive and well-defined regulatory framework from the local regulatory authority, he added.

According to CAAB record, a total of 4.06 million international passengers were carried by the three local airlines and two-dozens of international airline operators in 2010. It registered over five per cent growth from 3.85 million international passengers’ base in 2009.

Among the total number of passengers, 1.16 million passengers (departure 0.61 million and arrival 0.55 million) were carried by Biman Bangladesh Airlines while 2.9 million international route passengers were transported by international carriers (departure 1.16 million and arrival 1.44 million).

Dredging of 24 rivers to begin in June

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Dredging of 24 rivers to begin in June

DHAKA, Apr 9 (BSS) – The government will start dredging of 24 rivers in June this year in the first phase with public and private dredgers as part of its capital dredging campaign.

The shipping ministry and the water resources ministry have jointly taken the initiative for the first time in the country to dredge 53 rivers under the mega plan, Shipping Minister Shahjahan Khan told BSS.

An inter-ministerial meeting with Planning Minister AK Khandakar in the chair recently finalized a guideline for implementation of the river dredging plan.

The shipping minister said, besides 27 dredgers of the shipping ministry and 37 dredgers of the water resources ministry, 14 private dredgers would also be used in dredging. Moreover, the water resources ministry has given approval to procure 12 more dredgers.

The first-phase river dredging will begin in June with 10 dredgers of the shipping ministry and 14 private dredgers.

The 24 river routes to be dredged in the first phase are: Dhaka-Hizla-Barisal, Chandpur-Munshiganj-Barisal, Roymangal- Chalna-Mongla, Barisal-Chandpur-Bhola, Chandpur-Nandirbazar-Shikarpur, Jukirkanda-Banaripara, Swarupkathi-Hularhat, Gazaria- Bhoirab, Sherpur-Zakiganj, Aricha-Baghabari, Loargar-Durgapur, Chitra-Nabinagar, Narsingdi-Fatiadi, Munshiganj-Narayanganj- Demra, Barisal- Jhalokathi-Barguna, Khulna-Kazihat, Nandibazar- Madaripur- Tekerhat-Gopalganj-Mankoha, Mirpur-Rustampur- Kaliakoir, Sripur-Bhola-Kazirhat-Gongapur-Bhola, Rajbari-Faridpur- Magura-Gopalganj and four more river routes.

Shipping Secretary Abdul Mannan Hawladar said three new dredgers named ‘Karnafuli Voster’ will be added to the fleet of Bangladesh Inland Water Transport Corporation (BIWTC) in May this year.

He said four dredgers will be procured under Indian credit programme and four more dredgers are expected to be available as donation from Kuwait within 2011.

He said the Water Development Board and the shipping ministry will spend Taka 4,389.56 crore for the dredging of 24 rivers till 2013.

BIWTA Chairman Abdul Malek Mian said tenders would be invited within 15 days to procure new dredgers and other equipments.

BIWTA Dredger Wing Chief Engineer Abdul Matin said as per the 2009 master plan study, there is a requirement of dredging 180 lakh cubic feet annually. But only 20 lakh cubic could be dredged with the existing dredgers of the government.

Therefore, the government has taken the initiatives to procure new dredgers to dredge the rivers to maintain navigability in the rivers.

Once the country had 24,000 kilometers river route, which has now reduced to 5,000 kilometers only. Rivers are being silted up every year and the adjoining areas are being flooded during the monsoon.

German economic zone in the offing

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German economic zone in the offing

Bangladesh Ambassador to Germany Mosud Mannan and State Secretary of German Federal Foreign Office Martin Biesel cut a cake to celebrate 40 years of Bangladesh's independence at the atrium of Deutsche Bank of Germany recently. Photo: Sharaf Ahmed

Sharaf Ahmed, Germany

A German economic zone will be established in Bangladesh that will help further intensify the business relation between the two countries, State Secretary of German Federal Foreign Office Martin Biesel said.

Biesel was speaking at the celebration programme of 40th Independence Day of Bangladesh at the atrium of Deutsche Bank of Germany in Berlin. More than 300 dignitaries, including 70 ambassadors, from the host and accredited countries of the embassy attended the event.

The event started with the national anthems of Bangladesh and Germany followed by the speeches of Bangladesh Ambassador to Germany Mosud Mannan and State Secretary of German Federal Foreign Office Martin Biesel. A special toast was made wishing the continued success of Bangladesh-German friendship.

Mannan and Biesel jointly cut the anniversary cake on the occasion. Live music, dance, screening of videos on development activities and tourism promotion of Bangladesh and display of exportable products of Bangladesh were the main attractions of the programme.

The german secretary said the present scope of investment is very favourable in Bangladesh. He added that as a result of sincere effort by both the governments a German economic zone will be established.

Mannan said the German Democratic Republic was the first country in Europe to recognise Bangladesh on January 11, 1972 and recognition from the Federal Republic of Germany (FRG) came on February 4, 1972.

He recalled the support of German people for the provisional government during the liberation war. The ambassador expressed his gratitude to FRG for providing treatment to a large number of post-war-wounded freedom fighters of Bangladesh.

At present Germany is the second largest destination of Bangladesh’s total export and the largest in Europe, he said. “The German-Bangladesh relation is a glowing example of the ever-growing friendship and confidence, and Bangladesh values Germany as a longstanding reliable partner in development.”

The bilateral relation has infused in renewed depth and dimension under the present democratic government of Prime Minister Sheikh Hasina, he added. During the visit of Foreign Minister Dipu Moni on last August, two memoranda of understanding were signed. One was a government deal on cultural cooperation and another one was a private deal on shipbuilding, Mannan said.

Martin Biesel, in his address, said Bangladesh with her young, energetic, hard-working, motivated young people and with the stewardship and far-sighted vision of the government, had been emerging as a vibrant country in South Asia.

Bangladesh emerges as world’s second largest knitwear maker

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Bangladesh emerges as world’s second largest knitwear maker
It overtakes Turkey in volume, eyes China

Jubair Hasan

Bangladesh has become the world’s second largest knitwear exporter beating Turkey in terms of volume last year, the knitwear exporters said Saturday.

The country exported 7.78 billion pieces of knitted items such as T-shirts, sweaters in 2010 against Turkey’s shipment of 7.74 billion pieces, the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) said.

“We overtook Turkey as the world’s second largest knitwear manufacturer last year. Volume-wise, we are now only second to China,” BKMEA first vice-president Md Habibur Rahman told the FE.

Mr. Rahman said Turkey is still ahead of Bangladesh in terms of values as they exported knitted clothing worth $6.92 billion last year, compared to Bangladesh’s shipment of $6.19 billion.

“Our apparel export has been growing at an impressive 40 per cent rate in the current fiscal year. If the growth continues at this rate, we can beat Turkey in values by next fiscal year,” he said.

He said Turkish knitwear manufacturers produce high-value added products such as sportswear catering to western fashion retailers, while Bangladesh mainly operates in low-cost products such as T-shirts.

“We are in the knitwear business since the 1990s. By contrast, Turkey has been a major garment maker since the Second World War. They don’t take cheap orders because of high labour cost,” he added.

Turkey — Europe’s fastest-growing economy — has also emerged as an important apparel market for Bangladesh in recent years with shipment spiking 65 per cent in FY 2009 to $108 million.

Despite steady erosion of its competitive advantages, China remains the world’s largest knitwear and woven garment manufacturers, accounting for some half of the world’s $500 billion apparel market.

China’s market share in Turkey has been gradually overtaken by other apparel exporters including Bangladesh, India, Malaysia, Indonesia and Vietnam, according to a research by a local institute.

It said Dhaka has been the leading supplier of a number of products in Turkey, which prompted Ankara to decide to slap 27 per cent safeguard tariff on some of the Bangladeshi apparels.

Aluminium business pulls in newcomers

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Aluminium business pulls in newcomers
Sajjadur Rahman

The market of aluminium extrusion products used in doors, windows and curtain walls has been growing rapidly as wood is getting scarce by the day.

Nearly half a dozen companies have hit the market in the past two years to cash in on the growing market size now estimated at around Tk 600 crore a year.

Of the new entrants, PHP Group, which is one of the biggest conglomerates in the country, is the latest, and started selling products in February. Aramit, Nikki Thai, Bikrampur and Dhaka Thai are some other companies, which have come into the market in recent years.

“It is less capital intensive and matches with our existing product line, such as float glasses,” said Mizanur Rahman, head of marketing of PHP Float Glass and PHP Aluminium, explaining the group’s entry into the business. PHP is producing “premium-quality” aluminium extrusion products.

Aluminium extrusion products like doors, windows, staircase handrails and supports, railings for verandas and corridors have become popular. The use of aluminium in business and office complexes, buildings, theatres as well as decorative purposes is common. Shops built with lighter materials are also consuming aluminium products.

Market players said the advantages of aluminium such as lightweight, strength, corrosion resistance, durability, easy in fabrication, attractive appearance and easy maintenance make it a popular material for use in modern buildings.

“The market is growing at a double digit rate. Scarcity of wooden materials has been prompting buyers to go for aluminium extrusion products,” said SM Sohrab, senior manager, sales of Bangladesh Thai Aluminum (BD Thai), one of the two biggest players in the market.

After KAI Bangladesh Aluminum, BD Thai has the largest share in the market. Chung Hua (former Fu-Wang Aluminum) and Dhaka Thai are other major players.

KAI Aluminum, which started production in 1997 with an annual capacity of 6,000 tonnes, has set up a second plant with over 5,000 tonnes of capacity a few years ago to meet the growing demand.

BD Thai is the oldest company established in 1979 under a joint venture with a Thai businessman. Since then it is known as Thai Aluminum in Bangladesh.

Although the market has been expanding steadily, players are concerned with the quality as some manufacturers are marketing low-cost items.

“Lower end consumers are going for low-cost products, which is very risky,” said a senior official of KAI.

Low-cost items are made of around 1 mm (millimetre) thickness against the standard thickness of minimum 1.5 mm, according to major players.

“We are also making low-cost items in line with the demand,” said a BD Thai official.

sajjad@thedailystar.net

Industrial park for pharmaceutical industry by 2012: Barua

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Industrial park for pharmaceutical industry by 2012: Barua

Contract manufacturing of pharmaceuticals might help the sector earn Tk 200 billion per year.* About 97 percent of country’s total demand for medicine is met locally, and the sector is exporting products to around 80 countries of Europe, Africa and Asia.

Staff Correspondent

Industries Minister Dilip Barua yesterday said the government would establish an active pharmaceuticals ingredient (API) industrial park for the booming local pharmaceutical industry to help boost exports.

It would be a giant leap for the industry as most of pharmaceutical raw materials could be produced locally when the project will be implemented by 2012, he said.

“An active pharmaceuticals ingredient (API) industrial park will be set at Gojaria Upazila of Munshiganj to co-operate the entrepreneurs of pharmaceutical sector. I hope that the project will be realised by 2012 and the sector will be able to go a long way,” the Minister said.

Barua informed this while inaugurating a two-day international conference on ‘Globalisation of Pharma Industries’, organised by Asia Pacific Consultants Pty Ltd, Astralia, at the Bangabandhu International Conference Centre (BICC).

Barua said it is very heartening that country is now producing 97 percent of its total demand for medicine, and exporting to around 80 countries of Europe, Africa and Asia, which contributes to country’s branding.

He also suggested the entrepreneurs to go for contract manufacturing, which might help the sector earn Tk 200 billion per year.

If the international buyers’ conditions are fulfilled, the earnings through generic pharmaceutical products export will rise to US$ 10 billion a year, Barua remarked.

Co-founder and CEO of Socra Tec R&D, Germany, Prof Henning Blume, secretary general of Bangladesh Association of Pharmaceutical Industries, Abdul Muktadir, among others spoke on the occasion chaired by managing director of Asia Pacific Consultants, Halim Gunuan.

Muktadir said Bangladesh has a huge potential in pharmaceutical manufacturing and export as the supply of skilled manpower is adequate here with around 40 local universities providing pharmacy education and their English language skill is also good.

He said neighbours – India and China– are doing well in pharmaceutical products export and, as a sandwich country, Bangladesh can also take challenges to claim a remarkable share of the existing $ 1 trillion international market.

Setting a banking culture to emulate

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Districts in Focus
Setting a banking culture to emulate

Bank tellers attend to customers at a branch of Exim Bank in Khatunganj in Chittagong.

Arun Bikash Dey, Ctg

Banks have strengthened their foothold in Chittagong, a buzzing hub of business activities. The port city accounts for a significant part of the banks’ annual revenue. Here is why.

Chittagong is a favourable zone for banking growth, says Rashedul Amin, assistant vice president of Dutch-Bangla Bank Limited (DBBL). The bank began its journey in Chittagong in 1998 in Agrabad. At present, it has nine branches functioning in the port city, generating 20 percent of the bank’s total income from here. The total number of DBBL branches in Bangladesh is 92.

“We have good interactions with our clients apart from the formal relationship. Moreover, the clients of Chittagong are paymasters. They repay or reschedule business loans as stipulated. That is why the bank’s income in Chittagong is good,” Amin says.

The loan recovery rate of the nine branches in Chittagong is almost 100 percent. The amount of classified loans of the nine branches is only 0.25 percent, Amin adds. “A major reason behind the excellent loan recovery is that we are very selective about sanctioning loans.”

DBBL realises its corporate social responsibility (CSR) commendably, says Amin. He adds that the bank has a foundation named the Dutch-Bangla Bank Foundation through which it conducts its social welfare activities.

“The welfare activities are mainly conducted from Dhaka. But we also initiate some from Chittagong. For example, we organised four surgical camps in the port city for the treatment of children born with cleft lips. We donated Tk 25 lakh for the rehabilitation of the families affected by land slides a few years back,” Amin says.

AB Bank Ltd was the first bank in the private sector to open a branch in Chittagong in 1982 in the Agrabad commercial area. Now the bank operates 13 branches there, while the total number of branches across the country is 81. Bank officials say the port city branches account for approximately 15 percent of the total income.

National Bank Ltd (NBL), a first generation bank, opened its first branch in Chittagong at Khatunganj in 1983. Now, eight of the bank’s branches function in the port city.

NBL Executive Vice President Mohammed Nazrul Islam said the Chittagong branches generate about 30 percent of the bank’s total income. According to him, the loan recovery rate at the branches is 98 percent.

He said the bank performs its corporate social responsibilities centrally. They now plan to initiate CSR activities from Chittagong too.

“We are now contemplating some CSR activities in Chittagong as we contribute a lot to the total income of the bank,” Nazrul added.

The services that the bank provides to clients include consumer credit schemes, lease finance, house building finance, SME finance, and overdraft facilities. The bank performs CSR in education, sports, culture and disaster management.

Another first generation bank, United Commercial Bank Ltd (UCBL), opened its first branch in Chittagong in Khatunganj in 1983. It now counts 14 branches in the city. According to Senior Executive of the bank’s Rifle Club branch Yusuf Ali, the branches contribute 20 percent of the bank’s total income, with a loan recovery rate of 95 percent.

Eastern Bank Ltd (EBL), a second-generation bank, opened its first branch in Chittagong in 1992 in Agrabad. The bank now runs nine branches, contributing 30 percent to total income, say bank officials. The loan recovery rate of the branches is 97.5 percent and classified loans stand at 2.5 percent, they add.

National Credit and Commerce Bank Ltd (NCCBL) started its journey in Chittagong with its first branch in Agrabad in 1993. Now it has 11 branches.

NCCBL Senior Principal Officer Md Shahidullah said the branches contribute 20 percent to the bank’s total income. He said the loan recovery rate of the branches functioning in the city is approximately 80 percent.

Prime Bank Ltd, a second-generation bank, started its journey in Chittagong with an Agrabad branch in 1995. Now, it has 13 branches in the port city, giving 28 percent of total income, say bank officials.

Dhaka Bank Ltd inaugurated its first branch in Chittagong in 1996 in Agrabad. At present, it runs seven branches. The bank has a total of 60 branches across Bangladesh.

Sirajul Hoque, executive vice president and zonal head of Chittagong zone, informed that the nine branches contribute 16 percent of the total income of the bank. He says the bank has a loan recovery rate of 95 percent.

Mohammad Jahangir Khaled, executive vice-president of Social Islami Bank Ltd and head of the bank’s Chittagong zone, says Chittagong is favourable for the growth of the sector.

He said the bank started its journey in Chittagong in 1996 in Agrabad and at present, runs six branches, contributing 25 percent. The bank has 66 branches altogether. Loan recovery of the six branches is 95 percent, he adds.

The bank provides three sectors of banking services — formal, non-formal and voluntary banking — Khaled says. The formal sector deals with commercial banking, using the latest technology; the non-formal sector deals with family empowerment micro-credit and micro-enterprise programmes and the voluntary sector deals with social capital mobilisation through CASH WAQF and other schemes, he adds.

“The bank’s vision is to reduce poverty. It was a prime objective stated in the bank’s Memorandum of Association, with a commitment to work for a caring society,” Khaled says.

Mercantile Bank Ltd inaugurated its first branch in Chittagong in Agrabad in 1999 and now operates seven branches in the port city. Assistant Vice President Mesbah Uddin Ahmed says the branches contribute 23 percent to total income. The loan recovery rate of the branches is 96 percent, he adds.

The bank provides monthly schemes, monthly deposit schemes, double benefit deposit schemes, consumer credit schemes, small loan schemes, lease finance, doctors’ credit schemes, SME finance, personal loans, car loans, home loans and overseas employment loan schemes.

The bank performs CSR in education, health and disaster management, among others.

Standard Bank Ltd opened its first branch in Chittagong at Khatunganj in 1999 and now runs 10 branches. The bank’s Regional Manager Nurus Safa informed that the branches contribute 25 percent to total income with a loan recovery rate of 98 percent.

Bank Asia Limited, a third generation bank, started Chittagong operations in 2000. It now has 10 branches there, while the total stands at 48. Bank officials said loan recovery of the 10 port city branches is 96 percent.

Jamuna Bank, a third generation bank, opened in Chittagong in 2002. At present, it has nine branches there. Zobaidul Islam, a senior executive vice president, said the port city branches account for 40 percent of the total income of the bank, while the total number of branches is 66.

“The clients in Chittagong are banking friendly. The city is the hub of export and import activities of the country. We can contribute to a lot in the total income of the bank,” Islam said, as the Chittagong branches account for 40 percent of total income.

Islam said the amount of classified loan of the branches in Chittagong is nominal. The loan recovery rate of the branches is 99 percent, he adds. He said the bank runs its CSR activities mainly from Dhaka.

“Now, we are planning some activities as part of our CSR efforts in Chittagong,” he says. They keep 5 percent of the total profit of the bank in the ‘Jamuna Bank Foundation’ and that money is used for humanitarian purposes, he adds.

Besides these, Uttara Bank, One Bank, Pubali Bank, Premier Bank, Southeast Bank, ICB Islami Bank, Brac Bank, Mutual Trust Bank, Trust Bank, IFIC Bank, First Security Islami Bank, City Bank, Al Arafa Islami Bank, EXIM Bank, Islami Bank, Bangladesh Commerce Bank and Shahjalal Islami Bank are functioning in the port city with a significant number of branches.

March remittance at $1.09b,the highest so far

http://www.theindependentbd.com/business/finance/42900-march-remittance-at-109bthe-highest-so-far.html

March remittance at $1.09b,the highest so far
AKRAM HOSSAIN

Dhaka, Apr 4: The remittance inflow in  March  marked a record high of US$ 1.09 billion for the first time  despite  the recent  turmoil in  some of the middle-eastern  and African countries.

According to the probationary data of Bangladesh Bank (BB)  on Monday, the country has received total of $ 1090.487 million at the end of March, making it  the largest remittance inflow in a single month so far.

It was  about 14 per cent higher than the remittance of $ 956.49 million of the corresponding month of the previous year. The BB’s  data also showed the country had recorded highest remittance inflow of $ 1050.54 million in November, 2009 as well as recorded $ 998.64 million in November, 2010. The inflow of March  also exceeded the inflow of  February  by $ 103.517 million.

The highest remittance inflow has removed the recent concern of negative impact of  the ongoing political and economic unrest in the middle  east and African states as thousands of Bangladeshi expatriates lost their jobs and returned home leaving their savings behind. Data of Bureau of Manpower, Employment and Training (BMET) shows a total of 95,194 Bangladeshis  were  working  in Libya till January this year,  constituting  only 1.3 per cent of the total 72 lakh expatriates.

The statistical data of BB shows the Bangladeshi expatriates in Libya sent around $ 1.5 million in the fiscal  2009-10, while the country had received a total of $ 10.98 billion for that financial year.

The expatriates in Libya  sent   $ 40.84 million in the first six months of the current fiscal year 2010-11, the BB data said.

A BB official  expressed the optimism that the remittance inflow in the current fiscal year 2010-11 would exceed  the remittance $ 10987. 40 million of  the previous fiscal year  as the expatriates sent  home $ 8598.52 million in the first nine months of the FY 2010-11, which  just lag behind by $ 2388.88 million compared to the previous FY’s remittance.

The rest amount $ 2388.88 million could be achieved in the remaining three months of the current fiscal year, the official said.

Saudis in deal to recruit Bangladeshis

http://newagebd.com/newspaper1/business/14200.html

Saudis in deal to recruit Bangladeshis

Bdnews24.com . Dhaka

Saudi Arabia is going to recruit Bangladeshi manpower in four categories at a reduced migration cost.

The Bangladesh Association of International Recruiting Agencies and Saudi Arabian recruiting agencies’ association SANARCOM made the announcement at a press conference in Dhaka on Monday.

The associations of private sector recruitment agencies in Bangladesh and Saudi Arabia decided that the categories for recruitment will be housemaid, driver, security guard and gardener.

The Saudis also said they need doctors and nurses to work in the kingdom.

Housemaid migration will be free while male workers under the other three categories will have to buy plane tickets.

BAIRA president Mohammad Abul Basher said they would work together with Saudi recruitment agencies to cut down on the cost of migration.

‘The recruitment process for the categories will start within a month or two after all the formalities are complete,’ Basher said.

‘We are going to sign a memorandum of understanding with our Saudi Arabian counterpart in this regard [Monday] or [Tuesday],’ he said.

‘The recruitment in the four categories was suspended but the market is opening up now,’ he added.

Housemaid will get a salary of 600 Saudi rials (around Tk 11,544) a month with free air ticket, food and accommodation while drivers will get a salary of 800 rials (nearly Tk 15,392) with free food or 200 rials (approximately Tk 3,848) for food and free accommodation.

Security guards and gardeners will each get a monthly salary of 600 rials with 200 rials for food and free accommodations, the BAIRA president said.

He said a joint committee of the two associations would be formed to review the problems in recruitment and would sit every six months.

‘BAIRA will provide training to the workers and ensure that they have certain language and Saudi cultural knowledge before their departure,’ Basher said.

SANARCOM chairman Saad Nahar Al-Baddah said training is important for Bangladeshi workers.

‘The success rate is much higher for a trained worker than a novice,’ he said.

He urged BAIRA to not accept any visa from outside SANARCOM agencies to protect the interest of the people.

About 2.5 million Bangladeshis are working in Saudi Arabia.

Cox’s Bazar gets rail-linked in 2yrs

http://www.thedailystar.net/newDesign/news-details.php?nid=180356

Cox’s Bazar gets rail-linked in 2yrs
PM opens Tk 1,852cr railway project, new air force base
Unb, Cox’s Bazar

Prime Minister Sheikh Hasina yesterday formally inaugurated the construction work of rail line at Jhilongjha that will connect Cox’s Bazar with other parts of the country.

The work on the Tk 1,852 crore project will be completed by December 31, 2013. Of the total amount, the government will provide Tk 670 crore while the rest Tk 1,182 crore will come as project aid.

Earlier in the morning, the prime minister also inaugurated the Cox’s Bazar Air Force Base.

Under the railway project, there will be two metre gauge lines – one 100km long will connect Dohajari in Chittagong with Cox’s Bazar via Ramu and the other 28km line will connect Ramu with Gundum.

There will be four bridges in the rail line over Sangu, Matamuhuri, Shankha and Banshkhali rivers.

The stations on the railway line will at Satkania, Dulahazra, Chokoria, Edgaon, Ramu, Cox’s Bazar, Ukhia and Gundum.

The first survey for the railway line was conducted in 1890 during the British colonial regime. But due to the first and second world wars the construction works could not be started. The first feasibility study on the rail line was conducted in 2001 during the previous Awami League regime.

The primier offered munajat after formally inaugurating the construction works.

Later, at the same place, Hasina also opened the work on the upgraded submarine cable connection of Cox’s Bazar Landing Station, which cost Tk 50 crore. She also offered mujajat and held a meeting with the officials.

According to officials, the government connected the submarine cable using the 40G solutions to increase the bandwidth.

The expansion works will be completed by November this year.

Jute pulp use beckons bright future for paper production

http://www.thefinancialexpress-bd.com/more.php?news_id=131444&date=2011-04-04

Jute pulp use beckons bright future for paper production
NBPM set to use it as raw material

Munima Sultana

The government is considering reopening of the debt-ridden North Bengal Paper Mills (NBPM) after a study team found the use of jute pulp feasible for meeting its large requirement as a raw material, officials said Sunday.

The mill, also known as Paksey Paper Mill, has been closed since 2002 mainly due to the scarcity of sugarcane fibre, leaving the country to a shortage of 15,000 tonnes of yearly paper production.

Officials said Bangladesh Jute Research Institute has already submitted a report on the pre-feasibility study on the item to the Jute Ministry.

“We are hopeful of setting up one or two paper mills utilising the country’s jute pulp,” said director general of the institute Dr Mohammad Kalam Uddin.

He said the government is actively considering reopening of the inoperative North Bengal Paper Mills to help resume the mill’s operation, in terms of production.

Officials said the pulp can be produced by using the entire jute plant and a single unit, using the pulp, can produce 5000 tonnes of paper.

A preliminary estimate shows that an expenditure of US$ 5.5 million can set up the machine for using jute pulp for paper production.

A Chinese team will soon visit the country to study further the possibility of the jute pulp’s use in paper production, the officials added.

The use of Jute pulp in paper production has been getting popular in mainly Mynmar and China.

The officials said an inter-ministerial team, comprising representatives of jute and industry ministries and Jute Research Institute, visited the two countries from March 9 to 15 and found the quality of the paper to be impressive.

North Bengal Paper Mills was built on 134 acres of land with a large set-up in 1969. It went into full production in 1975 employing more than a thousand people. The reopening of the mill is also the present government’s election pledge.

The country spends more than Tk 25 billion in importing different types of papers to meet its demand for more than 550,000 tonnes.

Experts said since the jute production has been getting popular again, diversified use of jute, including that in the paper mills, can create a new enthusiasm among the crop’s growers.

Jute Ministry statistics have said the country produces around 6.0 million bales of jute yearly by cultivating it on 0.45 million hectares of land. The production and land use for the environment-friendly crop increased significantly last year, when the growers produced 8.0 million bales of jute bringing 0.8 million hectares of land under cultivation.