Bangladesh gets Japanese tremor technology

http://newagebd.com/newspaper1/national/34157.html

Bangladesh gets Japanese tremor technology
Bangladesh Sangbad Sangstha . Dhaka

Japanese experts are transferring a technology to Bangladesh which will be used to fortify buildings to reduce the damage risk from high-intensity earthquakes.

Retrofitting technology, as this particular know-how is called, is applied to a building an extra protection with additional support of shear wall or steel, said superintending engineer of Design Circle-1 of Public Works Department Abdul Malek Sikder.

‘We shall go for reinforcing important establishments with the technology after we  gain expertise on it,’ he said Wednesday.

The technical know-how will greatly help Bangladeshi experts in their efforts to protect buildings and thus minimize casualties during any strong tremor, he hoped.

Experts view that Bangladesh faces a high risk of moderate to strong earthquakes that may result in widespread damage and loss of thousands of lives.

The technology transfer will take place under a four-year project ‘capacity development on natural disaster-resistant techniques of construction and retrofitting for public buildings’ supported by the Japan International Cooperation Agency.

The project, began this year to end in 2014, aims at retrofitting the establishments related to emergency services.

Sikder said PWD would conduct an assessment on jolt vulnerability of the public buildings in the large cities during the project period.

Under the project, the Japanese experts will impart training to nearly 650 civil and 350 diploma engineers about various aspects of the technology. The PWD will issue licenses to the engineers upon completion of the training programme.

Sikder said retrofitting technique is widely used in tremor-prone countries but the local engineers do not have much knowledge of it.

The project formulation officer of the Disaster Mitigation and Climate Change wing of JICA Bangladesh, Hideki Katayama, said his government has taken the initiative to help Bangladesh his government would provide $2.6 million as grant to implement the project.

BKB’s 100pc growth in loan disbursement

http://www.theindependentbd.com/business/banking/71613-bkbs-100pc-growth-in-loan-disbursement.html

BKB’s 100pc growth in loan disbursement
Author / Source : BSS

DHAKA, Sept 21: Bangladesh Krishi Bank (BKB) achieved over hundred per cent growth in disbursing agri loan in the fiscal 2010-11 compared with the previous year due mainly for introducing hassle-free system and strong monitoring at the field level. Besides, the bank also marked a positive trend in realizing loan from recipients during the previous fiscal.

The BKB disbursed Taka 5,901 crore agri loan across the country in the previous fiscal (2010-11) against Taka 4,819 crore in the fiscal 2009-10 marking a record 105 per cent growth.

Homestead gardening gains popularity in Rajshahi area

http://www.bssnews.net/newsDetails.php?cat=4&id=201427&date=2011-09-21

Homestead gardening gains popularity in Rajshahi area

RAJSHAHI, Sept 21 (BSS)- Gardening around homesteads in both summer and winter seasons in the region including its vast Barind Tract has been gaining popularity with production of different fruits and vegetables.

Marginal farmers and the poor people in the region are mostly engaged in this venture by making the best use of spaces around their homes over the last few years.

For the last couple of years, varieties of vegetables are seen appearing in the local markets round the years by dint of the regular farming of the vegetables along with other seasonal fruits and crops.

Department of Agriculture Extension (DAE) and Bangladesh Agriculture Research Institute (BARI) have been providing necessary cooperation alongside need-based training and required inputs to the farmers to grow fruits and vegetables for their own consumption and extra earning by selling those.

DAE and BARI officials said that use of vacant spaces for producing fruits and vegetables has been seen as potential means for gradual development in the life of downtrodden in the region.

They said the On-Farm Research Division (OFRD) of BARI has been implementing various types of need-based programmes with a view to bringing the farmers under the programmes, through which they can produce traditional fruits and vegetables round the year.

OFRD senior scientific officer Abdus Salam told BSS that the interested farmers, particularly the poor and marginal ones, are being given preference to use BARI’s Tested Pattern Technology in
their gardening projects around homesteads.

As part of the programs, OFRD establishes seasonally crop museums at different areas in the region where high yielding varieties of 21 Rabi crops innovated by BARI remain putting on display during both the seasons.

Abdus Salam said that the museums have created a positive impact in the area, encouraging a large number of farmers to grow such fruits and vegetables as well as other crops by using the modern method.

Besides arranging regular group discussions and field visits for the beneficiaries, BARI is providing required inputs and quality seeds to the growers, producing mainly papaya, banana, kulboroi, kamranga, dalim, bean, bottle gourd, tomato, radish, red amaranth, spinach, batishak, cabbage, garden pea, bush bean, brinjal, chili, onion and garlic.

Apart from this, the farmers are also planting different fruit- bearing trees like mango, litchi, guava, berry, seedless lemon, pummelo, pear, coconut and betel nut.

According to the farmers and BARI officials, the method of growing these fruits and vegetables has increased resource utilisation side by side with enhancing use of modern varieties of vegetable crops and quality seeds in the farming ground.

As a result, they said, women of farmers’ families are increasingly getting involved in the respective productive ventures, proving their capabilities as good as the male counterparts.

Use of cow dung and other organic fertilisers in producing these fruits and vegetables is the most praiseworthy aspect of the gardening around homesteads in the Barind area.

“This is how the fertility of soil is being maintained and protected for ensuring production of fruits and vegetables in the region,” said the OFRD officials.

Focus on manufacturing to create jobs

http://www.thedailystar.net/newDesign/news-details.php?nid=203383

Business interview
Focus on manufacturing to create jobs

Samiran Chakraborty

Suman Saha

Bangladesh should focus more on development of the manufacturing sector as it will ensure the highest number of employments, says a noted Indian economist.

“The country is facing a huge unemployment problem. Large scale industrialisation can solve the problem,” says Samiran Chakraborty, regional head of research for India at Standard Chartered Bank.

He says the manufacturing sector of the country contributes nearly 20 percent to the national economy. But it is not enough to accommodate a growing number of job-seekers.

Rapid growth of the manufacturing and service sector can be an optimal solution as these sectors generate huge employment opportunities, says Chakraborty at an interview with The Daily Star in Dhaka recently.

He says Bangladesh has the ability to achieve seven percent growth as the country has a couple of unique advantages, such as demography and niche businesses.

But it probably depends on how the government can handle the energy and power issue, says Chakraborty. “If the government is able to supply the promised power, the country can certainly attain the 7 percent growth trajectory,” he adds.

Chakraborty, who has in-depth knowledge on financial markets in India, says India achieved growth momentum in 2003-04 because the government had undertaken several reforms.

India plans to open up the financial markets and encourage more foreign direct investment and foreign portfolio investment, he says.

He says India spent huge sums of money for infrastructure development in 2008 that gave a big boost.

Bangladesh can apply this growth model. But the growth strategy should compliment the policy reforms, says Chakraborty.

He says seven percent growth means the economy will double in the next ten years and per capita income would reach nearly $1200. But the challenge mainly remains in reducing the poverty rate.

Chakraborty, who also worked as chief economist for ICICI Bank in India for 5 years, says Bangladesh can attract more foreign investment through information dissemination.

He says the country should host numerous roadshows and ask investment communities to invest by depicting the investment opportunities, incentives and regulations.

The government should also provide necessary information in attracting investment, says Chakraborty, who was a faculty of Delhi School of Economics for 5 years prior to moving to the corporate sector.

He says the policy makers must listen to the problems raised by the prospective investors, and promptly solve these problems.

Otherwise the flow of investment will be hampered because the ability to attract foreign investment largely depends on the ease of doing business as well as political stability, he adds.

He says the optimum strategy would be to make all information open to all. And for this, transparency is very important.

People’s mindset also needs to change, he says. It is a globalised world and Bangladesh needs to be a part of it, adds Chakraborty.

suman.saha@thedailystar.net

Local pharma cos likely to grab $5b international donors’ mkt

http://www.thefinancialexpress-bd.com/more.php?news_id=150226&date=2011-09-21

Local pharma cos likely to grab $5b international donors’ mkt
Badrul Ahsan

The country’s drug export may see a massive boom in the coming days, as the local producers are getting prepared to join the billion dollar medicine supply chain of different international charities.

Global medicine donors like Clinton Foundation, Bill and Melinda Gates Foundation, Oxfam and other agencies every year donate drugs worth billions of dollars to poor countries.

The government has recently started construction of a drug-testing laboratory according to the World Health Organisation (WHO) guidelines, which the health minister expects to be completed within a year.

Earlier, the absence of such a world-class laboratory deprived the local medicine producers of supplying medicines to the international charities, industry insiders said.

In 2010 only, Clinton Foundation donated US$287 million, Bill and Melinda Gates Foundation $166.5 million and Oxfam around $211 million for ensuring healthcare facilities to the people of the impoverished nations.

Besides, other internationally reputed charitable organisations have also been donating a significant amount of money every year for healthcare and research.

Exporters said Bangladesh will be able to sell medicines worth billions of dollars to the donor organisations, if the government sets up the drug-testing laboratory with certification from the WHO.

Secretary General of Bangladesh Association of Pharmaceutical Industries (BAPI) Abul Muktadir told the FE that the absence of a world-class drug-testing laboratory has been depriving the Bangladeshi companies of joining the donor organisations’ supply chain.

“Our medicine products are well accepted to a large number of countries across the world for their quality and competitive prices. But the absence of a quality lab has left us behind,” he said.

“Despite repeated requests by BAPI over the last decade, the government could not establish a modern world-class lab. However, we have heard that work for setting up such a lab has started recently.”

He also said many Bangladeshi exporters would be able to supply a good volume of drugs to the $5.0 billion charity chain within a couple of years after establishment of the lab.

“Once the donors’ are assured that the quality of Bangladeshi medicines is up to the WHO-standard and their prices are competitive, they would positively source pharma products from Bangladesh,” Muktadir added.

Health and Family Welfare Minister A F M Ruhal Haque said the government has started the process of adopting the WHO guidelines for the drug-testing laboratory.

“We have started the construction of a WHO-standard lab, and I am hopeful that the work will be completed within a year,” he added.

Bangladesh has 258 registered advanced drug manufacturing (allopathic) companies, of which 164 are actively involved in manufacturing or marketing of pharmaceutical products at home and abroad.

The country’s drug export recorded a growth at the rate of 46.31 per cent in the July-August period of this fiscal year (2011-12), comparing to the corresponding period of the previous fiscal.

Bangladesh exports medicines to 67 countries. About 97 per cent of the country’s total drug consumption is met by local producers, while the rest 3.0 per cent is met through import.s

Bandwidth use triples in 3 years

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Bandwidth use triples in 3 years
Abdullah Mamun

The use of internet bandwidth tripled in the last three years as international voice and data traffic has increased manifold during the period, said officials of the country’s lone bandwidth providing company.

In 2008, bandwidth use was 7.5 Gigabits per second (Gbps) that leapfrogged to 22 Gbps now, said the officials of state-owned Bangladesh Submarine Cable Company Ltd (BSCCL).

The company will upgrade its capacity to 160 Gbps by February 2012 at a cost of Tk 50 crore, said Monwar Hossain, its managing director and chief executive officer.

In 2010-11 the company earned Tk 54.47 crore in profit, almost fivefold of Tk 11.55 crore it earned in 2008-09, Hossain said.

An industry analyst said increased data consumption through cable and wireless system pushed up the bandwidth use, especially after the launch of three wireless broadband providers — Qubee, Banglalion and Citycell Zoom Ultra.

Mustafa Jabbar, president of Bangladesh Computer Samity, said the broadband use will rise five times after the roll-out of 3G technology.

Jabbar said a stiff competition will emerge only when the private sector bandwidth providers will join the market.

Recently the government has allowed six new international terrestrial cables in the private sector, and plans to install another submarine cable at private initiative. If the prices and tariffs are cut, the bandwidth usage will go up, the analysts said.

Back in 2007, the caretaker government reduced the bandwidth price from Tk 75,000 to Tk 27,000 per Mbps. The price is now Tk 10,000, which the analysts said is still high.

Tk 10b deep sea pipeline on cards

http://www.theindependentbd.com/business/finance/71451-tk-10b-deep-sea-pipeline-on-cards.html

Tk 10b deep sea pipeline on cards
Author / Source : NURUL AMIN

CHITTAGONG, SEPT 20: Bangladesh Petroleum Corporation is going to set up a 77-kilometre long deep sea pipeline to pump in petroleum from mother vessels to its refinery at a cost of Tk 954 crore.

The deep sea pipeline, from Kutubdia island in the Bay of Bengal in Cox’s Bazar district to Eastern Refinery in Chittagong port area, would be implemented with financial assistance from Islamic Development Bank (IDB). IDB has agreed to provide Tk 904 crore and the rest  will be spent from the fund of the state-owned organisation, according to sources. The sources said the tendering process for the project of installing a deep-sea pipeline and a single point mooring (SPM) at south-west of Kutubdia island will begin in January next.

A German based consulting firm, ELF Consulting and Engineering Service, has been appointed in July for setting up the 36-inch pipeline through the deep sea for transporting oil from mother vessel oil tankers in deep sea to shore.

The consulting firm will take around 29 months to complete its designated job for the project, said Reazul Alam, managing director of Eartern Refinery Ltd.

The consultancy firm’s jobs include preparation of Front End Engineering Design (FEED) document, the data collection, surveying and technical analysis for Met Ocean data and hydrographic data.

The proposed pipeline from deep sea will save both time and money of the government as it will help unload crude and refined petroleum from the vessels in the deep sea without berthing in the port.

In the existing system, big ships usually anchor at deep sea from where lighter vessels receive the imported crude and refined petroleum to carry to the Eastern Refinery. It takes 12-15 days in the whole process.

But when the SPM will be set up with underground pipeline, it will take just 24-48 hours.

The BPC officials claimed that after commissioning the deep sea pipeline, Tk 116 crore will be saved annually.

Currently, the government imports 3.8-4 million tonnes of crude and refined petroleum fuel annually. Of these, around 1.2 million tonnes are refined in the country’s lone refinery, Eastern Refinery Ltd.  The domestic requirement of petroleum is likely to rise significantly when a number of fuel-fired power plants will be set up in a couple of years.

BIAC to boost up investment flow

http://www.daily-sun.com/details_ds-biac-to-boost-up-investment-flow_341_1_3_1_2.aspx

BIAC to boost up investment flow
Experts told discussion
Staff Correspondent

Bangladesh arbitration law and judicial procedures will generate confidence to increase investment in the country, particularly foreign investment. This was the unanimous view expressed at a dialogue organised by the Bangladesh International Arbitration Centre (BIAC) at Ruposhi Bangla Hotel in Dhaka on Tuesday.

To address the theme ‘Arbitration as an out-of-court dispute settlement tool: Global Experience and Implications for Bangladesh’, Nina Machova from the World Bank Group and Professor Arif Ali, head of the International Arbitration Practice of the Washington-based law firm Crowel and Moring, gave two presentations.

Machova describe the importance of arbitration from the investment perspective, elaborated global arbitration practices and also compared them with those of Bangladesh. She emphasised that institutional arbitration was vital for generating confidence and hoped that BIAC would be developed to meet that pressing need in Bangladesh.

Prof. Arif Ali, with video presentation, described how the arbitration process actually works. Citing specific problems that he has encountered during his professional works, he made recommendation for the Bangladesh.

Participants from the legal and business community also made their comments on the subject. Former Justice Awlad Ali emphasised that arbitration must be simplified and speedy to make the centre effective.

Former Adviser to a caretaker government and also a former attorney general Hassan Ariff stated that arbitration tribunals not made an extension to the courts, which he said would contribute to a loss of time.

He referred to about 17 articles in the Arbitration Act 2001 where the judiciary comes in, whereas the intention of arbitration is to minimise intervention of the judiciary. He suggested that the law for arbitration be amended to meet the needs of the investors. An International Finance Corporation representative explained that the IFC is supporting BIAC as such institutions are essential for generating confidence among investors.

The Chairman of the Board of BIAC, Mahbubur Rahman, stated that there are roughly 2.5 million cases pending before the lower judiciary and about 350,000 cases before the Supreme Court. Many business-related cases can be disposed of through arbitration, relieving the pressure on the judicial system and helping business.

The Dialogue was moderated by BIAC Chief Executive Dr Toufiq Ali, who explained that BIAC had been established by the MCCI, DCCI and the ICC-B, with support from the IFC, to assist in the quick, cost-effective and reliable solution to business disputes. Such centers exist in most countries, and are essential to investors and businesses.

Dutch entrepreneurs opt for enhanced trade with Dhaka

http://www.daily-sun.com/details_ds-dutch-entrepreneurs-opt-for-enhanced-trade-with-dhaka_341_1_3_1_3.aspx

Dutch entrepreneurs opt for enhanced trade with Dhaka
FBCCI wants direct links with Netherlands agency

Inge Sloekers, programme manager, CBI, Netherlands called on Ahmed Jamal, acting president of the FBCCI on Tuesday. Sun Photo

Staff Correspondent

Netherlands entrepreneurs seek more cooperation from Bangladeshi business community to explore trade potentialities between the countries.

Inge Sloekers, the leader of a visiting Netherlands CBI delegation, told this at a meeting with Ahmed Jamal, acting president of the Federation of Bangladesh Chamber of Commerce and Industry (FBCCI) at the FBCCI Bhaban yesterday.

Inge Sloekers, Promramme Manger of CBI, an agency of the Ministry of Foreign Affairs in Netherlands, is leading the delegation in Bangladesh.

Minke of CBI, Linda, an official of Dutch Embassy and Najmul Huq, director of FBCCI, Shahabuddin Mohammad, secretary general, Enamul Hauq, secretary (Int) and Manjur Ahmed, advisor of FBCCI were present.

FBCCI acting-president said: “Bangladesh economy is growing gradually and its products namely leather, jute, pharmaceuticals, ceramics, RMG; home textiles are being exported in most of the countries including EU with good reputation.”

He expected that the trade between the countries would increase further in future. He also urged CBI to import high-end products in her country and make a direct link between CBI and FBCCI, he added.

Inge Slokers said: “CBI will do her best to resolve the hindrance in doing business between the countries. CBI wants more cooperation from FBCCI in terms of trade and investment.”

Najmul Huq assured her to provide utmost cooperation from the apex trade body and proposes to sign a Common Agreement and MoU so that both countries may expedite trade promotion.

Shahabuddin Mohammad gave a short description on how FBCCI and CBI can jointly accelerate business and resolve the trade barriers and make a good link up in government and private levels of both countries. He also proposed for establishing a knowledge centre, e-Business, facilitate training and information exchange.

In a query of Minke about Bangladesh’s capability to enter EU market specially of SMEs products Manjur Ahmedtold the delegation that individually the Bangladesh firm is not highly efficient but collectively they are capable to meet the EU market requirements.

Western Marine to build cargo ships for Nurjahan Group

http://www.thedailystar.net/newDesign/news-details.php?nid=203153

Western Marine to build cargo ships for Nurjahan Group

Md Sakhawat Hossain, managing director of Western Marine Shipyard Ltd, and Zahir Ahammed, managing director of Nurjahan Group, sign a deal at a hotel in Chittagong recently. Western Marine will build six cargo ships for Nurjahan Logistics. Photo: Western Marine

Star Business Desk

Western Marine Shipyard Ltd will build six cargo ships for Nurjahan Logistics Ltd each of having a capacity of 1,800 dead weight tonnage at a cost of over Tk 12 crore.

These cargo ships will ensure speedy transportation of imported wheat from the outer anchorage to the flour mill of Nurjahan Group at Rupganj, Western Marine said in a statement yesterday.

Md Sakhawat Hossain, managing director of Western Marine, and Zahir Ahammed, managing director of Nurjahan Group, signed an agreement in this regard recently in the port city.

German company Germanischer Lloyd approved the vessels that are 60 metres in length, 9 metres in breadth, 4.8 metre in depth.

Western Marine expects to deliver the vessels in phases in the next one and a half year after initiation of project work.

Western Marine managing director said the agreement is an opportunity for the organisation to contribute to the national economy as it will help keep food price stable due to rapid transportation of wheat across the country.

China’s rising cost benefits Bangladesh: KPMG report

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China’s rising cost benefits Bangladesh: KPMG report
Bangladesh Sangbad Sangstha . Dhaka

Bangladesh and Indonesia are benefiting most as rising costs in China force firms to switch production, according to a report of KPMG, the Netherlands-based research organisation.

KPMG is one of the largest professional services firms in the world and one of the Big Four auditors, along with Deloitte, Ernst & Young and PwC.

The report was based on interviews with 12 major multinational companies including Ikea, B&Q-owner Kingfisher and Hong Kong’s Li & Fung, which sources goods for big-name clients including Wal-Mart.

The latest report says that production of clothing and footwear is now more widely dispersed across Asia, with Indonesia and Vietnam specialising in the production of footwear and India developing a niche in hand-stitched fabrics and metal ware.

According to KPMG estimates, Indonesia’s footwear exports grew by 42 per cent in 2010 to $2.1 billion, while Bangladesh saw textiles exports grow by 43 per cent to more than $18 billion in the year to July 2011.

With increasing labour costs, rising inflation and a strengthening currency, China is losing its foothold as the world’s lowest cost manufacturer of consumer goods, it says.

According to the KPMG report, that minimum wage levels in China are now four times greater than other places in South and South East Asia. However, the report says, China can defend its position because of its productivity and infrastructure. China is still dominant in the production of goods such as consumer electronics and furniture.

‘Sourcing goods in China purely because of ultra-low costs is a thing of the past,’ said Nick Debnam, KPMG’s Asia-Pacific chair. ‘With demand still soft in many Western consumer markets, it is also proving difficult for companies to pass on higher costs to consumers. This changing environment is forcing companies to reassess sourcing strategies,’ it added.

China is battling its highest rate of inflation in three years although the latest consumer prices data from August suggests that the rate is beginning to ease.

While much of China’s manufacturing has begun to migrate westwards from the south and east of the country to cheaper provinces such as Sichuan, the report says the cost advantages from such moves inland may be short-lived. KPMG says that China’s increasing manufacturing costs are more to do with the country’s demographics.

China’s one-child policy has resulted in a ‘sudden and serious’ shortage of the labour that gives workers in both the richer coastal provinces and poorer inland areas the leverage to demand higher wages, it said.

Bangladeshi apparel exporters said the country enjoys a high competitive edge in terms of skilled labour and low cost in the world’s apparel sector compared to its competing countries.

Korean company to invest $4.8 million in CEPZ

http://www.bssnews.net/newsDetails.php?cat=2&id=201269&date=2011-09-20

Korean company to invest $4.8 million in CEPZ

DHAKA, Sept 20 (BSS) – A Korean company, M/s TK Outdoor Ltd, will invest about 4.8 million US dollars in the Chittagong Export Processing Zone (CEPZ) by setting up a garment accessory manufacturing industry, a press release said here today.

An agreement was signed between Bangladesh Export Processing Zones Authority (BEPZA) and M/s TK Outdoor Ltd, in the BEPZA Complex here today in this connection.

Md Moyjuddin Ahmed, Member (Investment Promotion) of BEPZA and J H Keum, Managing Director of M/s TK Outdoor Ltd. signed the agreement on behalf of their respective organizations.

BEPZA Executive Chairman Major General A T M Shahidul Islam, Member (Engineering) Abu Reza Khan, Secretary Md Shawkat Nabi, General Manager (Investment Promotion) A Z M Azizur Rahman, General Manager (Public Relations) Mahmud Hasan, among others were present at the signing ceremony. The investment is expected to create an employment opportunity for 360 Bangladeshi nationals, the press release said.

130MW solar power park sets up soon

http://www.daily-sun.com/details_ds-130mw-solar-power-park-sets-up-soon_340_1_3_1_3.aspx

Meet with donors to mobilise fund today
130MW solar power park sets up soon
Staff Correspondent

The government has taken decision to set up a solar panel-based electricity park to mitigate the reeling power crisis through enhancing generation of renewable energy in the country, a senior official said.

The Ministry of Power, Energy and Mineral Resources today will seek donor agencies support to set up the solar park.

Prime Minister’s Power and Energy Adviser Dr Tawfiq-e-Elahi Chowdhury and State Minister for Power and Energy Muhammed Enamul Huq will attend at the day-long workshop on solar development programme at Sonargaon Hotel in this regard.

As part of a government plan to generate 500MW electricity from solar-based plants by 2014, the proposed donor funded electricity park will generate 130MW of electricity.

Power Division will install the park in private sector or public private partnership, Power Division additional secretary Tapos Kumar Roy told daily sun.

The Power Division has already requested the communications ministry to allot its non usable land for installing the plant, he said.

He added the Power Division has also a plan to use non-grid areas like schools, colleges, public and private offices to install the solar panel.

The government would require $2.5 billion to $3 billion to install 500MW solar panel based electricity park, he said.

“We have sought donors’ financial support in the form of soft loans or grants,” he said.

“The Asian development Bank (ADB) has already assured us of providing financial support to install the solar plant,” the official said.

Rural people get services in online in Paba UZ

http://www.bssnews.net/newsDetails.php?cat=4&id=201210&date=2011-09-20

Rural people get services in online in Paba UZ

RAJSHAHI, Sept 20 (BSS)- Rural people particularly the widows and distressed freedom fighters and old women have started getting their public services through online in Paba upazila of the district.

They have also started deriving the benefits of submitting complains relating to getting the services through the newly launched e-service system.

A five-member administrative officers’ team led by Joint Secretary Dilwar Bakth had launched the project titled “Introducing Online System: A Pilot Project at Paba UNO Office, Rajshahi” aimed at addressing the constraints being faced by the distressed people by introducing and piloting online services in last May-June.

Meanwhile, the UNO office has so far received 60 applications coupled with some complains through using the online facilities and, subsequently, the office has taken necessary measures.

Dilwar Bakth, previous Deputy Commissioner of Rajshahi, told BSS that the venture will help reducing hassles of the beneficiaries alongside getting the services easily.

“We have introduced online system for quick service delivery by using online system and facilities to facilitate the rural people in getting online service as a part of Digital Bangladesh process,” he added.

Recently, the project has been handed over to the Upazila administration for its full-length operation. Mayor of Rajshahi AHM Khairuzzaman Liton and Joint Secretary of Cabinet Division Dilwar Bakth attended and addressed the handing over ceremony as the chief and special guests respectively with Upazila Chairman Monsur Rahman in the chair.

Highlighting various aspects of the e-service system, Dilwar Bakth revealed that the project is being adjudged as beneficial, sustainable and replicable.

During implementation phase, he mentioned that the beneficiaries got some instant benefits as the project creates opportunity for the poor people to get hassle free service through online system.

Especially, the programme helps poor women including widows, distressed old women and freedom fighters in getting their requisite services.

As a whole, the digitization process is creating opportunity of self- employment among the rural youths side by side with the social contribution.

Bangladesh Fund’s public subscription in 2 weeks

http://www.thedailystar.net/newDesign/news-details.php?nid=203168

Bangladesh Fund’s public subscription in 2 weeks
Star Business Report

The much-awaited public subscription of Tk 5,000-crore Bangladesh Fund will start in two weeks, the leading sponsor of the open-ended mutual fund said yesterday.

“We have set October 2 as the probable opening day,” said Md Fayekuzzaman, managing director of Investment Corporation of Bangladesh, the leading sponsor of the fund.

The seven other sponsors are Sonali Bank, Janata Bank, Agrani Bank, Rupali Bank, Bangladesh Development Bank, Sadharan Bima Corporation and Jibon Bima Corporation.

The raised fund from individuals and institutions will be invested mainly in the secondary stockmarket.

The public subscription will be for Tk 3,500 crore, as Tk 1,500 crore has been contributed by the sponsors.

The sponsor portion of the fund is being invested in the stockmarket as per regulatory requirement since the fund was formed in March to support the market after the price debacle in January.

Fayekuzzaman said they will organsie a roadshow on the fund in other countries where the majority non-resident Bangladeshis (NRBs) live in. “The NRBs prefer financial instruments to sending hard cash back home,” he said.

The open-ended mutual fund, a professionally managed collective investment scheme with unlimited lifetime and size, was approved by the Securities and Exchange Commission on May 4.

The fund manager pools money from many sponsors or investors through its selling agents and invests it in stocks, bonds and short-term money market instruments, and pays out dividends to the unit holders annually.