A quiet entrepreneur looks to brighter days

http://www.thedailystar.net/newDesign/news-details.php?nid=211310

Pockets of Change
A quiet entrepreneur looks to brighter days

Amena Begum

Md Fazlur Rahman

A mother of three, Amena Begum became a widow at the age of 29 when her husband lost the battle against a kidney disease. Anyone in her position would have ended up working as a household maid, but it was with determination and hard-work that she established herself as a young entrepreneur.

“I always dreamt that I would one day grow up and become an entrepreneur and set up my own business where people will get a chance to work,” said Amena. She now runs Amir Tailors & Boutique in the city’s Moghbazar area and supplies garment items to retailers at key shopping centres.

She learnt tailoring from her mother at an early age and took part in training on cutting and stitching ladies clothing. When she turned 20, her family married her off to an auto-rickshaw driver in 1999.

“After I got married I found that my husband’s income was not enough to meet family expenses. I started tailoring work at home.”

She had to quit her education and could not sit for her SSC exams as she was pregnant with her first.

Initially, she made sleepwear for women. Six years ago, she visited retail shops at various shopping centres in the city to show her products. “Many shops liked my products and placed orders.”

But she faced a great ordeal when her husband was ill for five years, and bed-ridden for the last six months of his life. She had to spend Tk 1,200 a day for his treatment.

She spent her family savings worth Tk 500,000, and had to sell her ornaments and furniture. She borrowed another Tk 250,000 from her relatives during the last few days of his treatment. He passed away when their youngest son was just two months old.

“I was confused and penniless. I did not know where to go. Nobody will take responsibility of my three children,” she told The Daily Star in an interview in Dhaka on Monday.

She started taking sewing orders from her neighbours to make money to support her family. “Some customers would ask me to put designs on their dresses, and they loved it. Others would see my products and place orders.”

“It soon became too much for me to handle on my own. I had to turn down people. Then I thought that I should start a small tailoring shop of my own and hire a few other women to help me meet orders.”

In the meantime, she could not afford educational expenses of her eldest son, who went to a good school in the capital. She shifted him to UCEP School for free education. But the shift worked in her favour as some teachers introduced her to Bangladesh Youth Enterprise Advice and Helpcentre (B’YEAH).

“When I heard about B’YEAH, that it was looking for young widows with business ideas, I was interested and immediately went to talk to them. B’YEAH liked my products, approved a loan for me and introduced me to my mentor.”

She took a loan of Tk 50,000 from B’YEAH and paid back some loans and invested the rest in her business.

She is one of the few entrepreneurs of B’YEAH, a programme of The Prince of Wales’ Youth Business International. She was able to grow her business with the help of the Dhaka-based B’YEAH.

In 2010, she won an award from B’YEAH for not delaying or missing a single loan payment. Her success story did not end there. Earlier this month, the 31-year-old was awarded the “Barclays Capital Journey to Enterprise Award” for her success amid difficulties.

Alongside the $1,000 prize money, Amena flew to London to attend the Entrepreneur of the Year awards dinner.

The Journey to Enterprise award recognises an entrepreneur who has overcome significant challenges on the road to operating a successful business.

Amena now makes and supplies clothing items, such as blouses, petticoats, children’s wear and men’s wear. She also embroiders saris, bedsheets, quilts and other handmade items.

She collects samples and sometimes unstitched fabric from different retailers. “I never miss a delivery deadline, which gives my customers confidence and helps my business grow.”

Amena now hires 10 women to work for her. Two of the women work at Amin Tailor & Boutique and the rest work from their homes. Her mother, Joynab Bibi, also helps her out with the designs and colour combinations.

Amena tries to keep her operational expenses low so that she can purchase good quality raw materials, which gives her higher quality end products. She frequently visits different apparel exhibitions and collects designs for inspiration.

In partnership with another businessman, she opened Amir Tailors & Boutiques on rented space two months ago.

Despite being on a tight schedule, she makes time to train destitute women for free on tailoring and the boutique business in her locality. They are also provided with work that they can take home.

“Other women now look up to me. I train and mentor these women to set up their own businesses.”

Amena said winning the award has given her the necessary exposure to expand business. “Now I will have to work harder.”

Her son Naim, now 12, is now studying in class eight. He also receives training on automobiles. Amena plans to admit him at Bangladesh Open School so that he can study more.

Her second son Siam, 8, is also a student of class three at UCEP School. Her third son Zidan is two and a half years old.

Amena is grateful to her mother for supporting her all through. “If she did not help me to take care of my children, I would not have been able to succeed. I also would not have been able to start the business if B’YEAH did not lend to me at that crucial time.”

“I also worked at a boutique, Shwopno Mela, for two years to learn more about the business. The owner helped me a lot too.”

Amena has already repaid a majority of her Tk 200,000 loan. She hopes to repay in full by December.

She said she needs both financial support and guidance to make her business big.

Officials of B’YEAH call her a star entrepreneur. They said her motivation to do better everyday is extremely encouraging. She has become a role model for many women in her community. Other than her skills and determination, she had nothing.

“But today she is a confident, self-sufficient woman, who raises three sons, contributes financially to her parents and fulfils her social responsibilities by being a mentor to others,” said Rubaiya Ahmad, executive director of B’YEAH.

fazlur.rahman@thedailystar.net

CanCham president discusses trade potential between Bangladesh and Canada

http://www.thedailystar.net/newDesign/news-details.php?nid=211081

Business Interview
Diversify two-way trade
CanCham president discusses trade potential between Bangladesh and Canada

There is an big opportunity for Bangladesh to export bicycles to Canada. Photo: Amran Hossain

Md Fazlur Rahman

Two-way trade between Bangladesh and Canada can easily reach $2 billion if the government diversifies export products, a chamber leader said yesterday.

Apparel items dominate the country’s exports to Canada. “But if we can diversify products, than it is possible to hit a $2billion trade target, as two-way trade is increasing,” said Masudur Rahman, president of Canada Bangladesh Chamber of Commerce and Industry (CanCham).

“There is a vast opportunity to enhance business relations between Bangladesh and Canada,” he told The Daily Star.

He said Bangladesh has good prospects for exporting products and services in IT, software and call centre segments. “We can also sell plastic items. There is also an export opportunity for furniture and bicycles. But we have to know the type and design of products the Canadians use.”

The business leader said there is a demand for spices among the growing Bangladeshi community in the North American country.

Between January and September, Bangladesh exported goods worth $897 million to Canada, up by 49 percent than the same period in 2010.

The country’s import however dropped by 23 percent to $343 million in the same time.

Last year, two-way trade between the two countries stood at $1.4 billion.

“The trend is very positive for the country,” said Rahman.

He said the state-run Export Promotion Bureau should help exporters take part in fairs in Canada to increase exports. “We need to participate in major fairs every year. We also need to take part in specialised fairs.”

Rahman said the presence of Canadian private companies is growing in Bangladesh as they realise the opportunities that exist within the market of about 30 million middle class people.

Canadian companies have already made their mark in textiles, infrastructure, footwear, telecommunications and power and energy projects and are recognised in Bangladesh for high quality products and services, he said.

The CanCham chief said the Canadian government organisations like Export Development Canada (EDC) could play a key role to support both the private and the public sectors of Bangladesh and undertake various turn-key projects, besides offering credit insurance and financial services to the buyers of Canadian goods and services.

He urged EDC to consider a line of credit like “Bangladesh Infrastructure Fund” in order to boost sectors such as power, oil and gas exploration, IT and aviation.

Heather Cruden, the newly appointed Canadian High Commissioner to Bangladesh, at a meeting in her official residence in Dhaka last week, said the economic relation with Bangladesh is important to Canada. “The trade between the two countries will continue to grow.”

fazlur.rahman@thedailystar.net

Ctg gas crisis to be eased

http://www.theindependentbd.com/business/others/80982-ctg-gas-crisis-to-be-eased.html

Ctg gas crisis to be eased
Author / Source : STAFF REPORTER

CHITTAGONG, NOV 21: The hydrostatic test of the 65-kilometre long 10-inch-diameter gas pipeline has been successfully completed this afternoon.

The officials of Karnaphuli Gas Distribution Company Limited (KGDCL) are saying that they are ready to distribute gas available from Semutang gas field through the pipeline. The test of distribution of gas from Semutang gas field to Nasirabad began on Saturday and ended on Monday afternoon. The test has been successful cent per cent, the officials claimed.

Sanowar Hussain, managing director of the company said that the installation of 65-kilometre long 10-inch-diameter gas pipeline from the Semutang gas field to Chittagong has earlier been completed at a cost of Tk 20 crore.

Pipeline Engineers & Associates constructed 31 kilometre long 10-inch diameter  pipeline from Semutang gas field to Nazirhat, while Technic Construction constructed 34-kilometre long 10-inch pipeline from Nazirhat to Oxygen point in the city.

Sanwar said that the state-owned gas production company BAPEX had completed the drilling of Semutang gas field located in Chittagong Hill Tracts that may produce nearly 25 mmcft of gas daily.

The total recoverable gas in the field is 150 billion cft. The supply from the gas field is expected to begin in December.

BAPEX has started drilling the field aiming at supplying gas to Chittagong region.

Besides, the port city will get another 40 mmcft daily from the next month, the source pointed out.

The source said the production in Salda gas field will also begin in the first week of December while the production in Sundalpur gas field may begin at the end of December.

Semutang gas field would supply more than 25 mmcft of gas while the Salda gas field would supply 22 mmcft of gas daily. Sundalpur gas field would supply more than 12 mmcft of gas daily.

Chittagong is now getting more than 216 mmcft gas per day. With the beginning of production in these three fields, the total gas supply to Chittagong will increase to more than 280 mmcft of gas.

Despite the increase of gas supply in the port city, the demand, however, would not be met fully as it needs more than 429 mmcfd of gas to feed its all consumers including two biggest fertiliser factories and six power generating units.

Of the total demand of 429 mmcft, the Karnaphuli Fertilizer Company (KAFCO) needs 50 mmcft, Chittagong Urea Fertilizer Company Limited (CUFL) needs 50 mmcft, Karnaphuli Paper Mills Limited (KPM) needs 10 mm cft and PDB plants need 162 mmcft of gas daily.

Denmark keen to invest $ 1b to set up fertilizer factory

http://thenewnationbd.com/newsdetails.aspx?newsid=23582

Denmark keen to invest $ 1b to set up fertilizer factory
BSS Dhaka

Danish government has expressed its keen interest to invest $ one billion in Bangladesh for establishing a new fertilizer factory at Ashuganj in Brahmanbaria district. The offer came on Monday when Ambassador of Royal Danish Embassy in Dhaka Svend Olling met Industries Minister Dilip Barua at the latter’s office here.

“We are interested to establish a joint venture fertilizer factory in Bangladesh,” the ambassador told BSS after the meeting. The envoy handed over a proposal to this effect to the minister for taking necessary measures.

Commenting on the Danish proposal, Dilip Barua said, “We will go ahead after getting clearance from the highest authorities.”

“This is a preliminary proposal from the Denmark government to establish the fertilizer factory,” he said. During the meeting, the minister told the ambassador that the present government under the leadership of Prime Minister Sheikh Hasina believed in secularism.

Dilip Barua described Denmark is as a good friend and expressed the hope that the country’s support for Bangladesh will continue in the days to come. “The proposed factory would be built on sophisticated technology. A smooth supply of natural gas will have to be ensured for the purpose,” Svend Olling said.

Old clothes, new hues

http://www.thedailystar.net/newDesign/news-details.php?nid=211311

Pockets of Change
Old clothes, new hues

Shaheb Ali checks the colour on old clothes that have been dyed at the dyeing factory in Kaliganj. Photo: Azibor Rahman

Azibor Rahman, Jhenidah

Hard work is the only means of survival for the honest man. Sincerity and creativity gives new solutions to old problems. It is true for a group of men in Faila village of Kaliganj involved with the uncommon vocation of dyeing old clothes.

Shaheb Ali, Rais Uddin and Khabir Uddin dye all types of old clothes, including saris, scarves, shirts, pants, bed sheets, mosquito nets and quilt covers. People from different villages and towns bring their clothes and get those dyed in any colour of choice.

“Around 150 widowed or helpless women in Jhenidah and surrounding districts are involved in the trade,” Shaheb said.

“The women collect the items from housewives in different villages of Jhenidah town, Moheshpur, Chuadanga, Jessore and Magura on contract, and return them after we dye the clothes,” he added.

“Nahar Banu, Ayesha Khatun, Nargis Parvin, Zarina Khatun and Tara Bibi bring a good number of clothes here for dyeing. They earn a good sum from it too,” Rais said.

Dyeing old clothes is a price-effective solution for many in the area who cannot afford new clothes all the time.

Women involved in the trade said they take Tk 25 for each sari and pay only Tk 15 for dyeing. They take Tk 20 for a petticoat and pay Tk 12 for dyeing, keeping the rest as profit.

Nahar Banu, 55, a widow from Mashlia village in Kaliganj, said, “I regularly come here with lots of clothes from housewives in my village and neighbouring villages and earn a living for myself. I bear the educational expenses of my son with my earnings.”

Her son is a student at Jessore MM College. She earns Tk 100-125 a day from this trade.

Subrity, a housewife from the nearby Nichintapur village, said, “I come here to dye clothes. The colour lasts long.”

She is happy that she can add fresh colour to her old clothes for a new look, at a low cost.

Kudrat Ali, a cloth dealer in Kushtia, said, “I bring a heap of clothes to the factory in Kaliganj and earn a lot from the business.”

Shaheb, who has been in the business for 26 years, is able to make ends meet with earnings from the business. He dyes at least 150 clothes a day. He needs colour, hydroze, caustic stone, aluminium and nitric acid for the process.

His son Raihan is an SSC examinee of 2011 and his second son is in class three. He said he is leading a happy life with his wife and sons, supported by the unusual dyeing business.

Khabir, a business partner to Rais, said, “We have been in the trade for a long time now. We are doing good business.”

Bicycle parts made in Jhenidah

http://www.thedailystar.net/newDesign/news-details.php?nid=210943

Districts in Focus
Bicycle parts made in Jhenidah
Azibor Rahman, Jhenidah

A small factory in Jhenidah is making brisk business making bicycle spare parts. The factory — Modern Cycle Parts Industry — produces high quality items to sell in Jhenidah and neighbouring districts.

Chief parts maker and supervisor Shamsul Islam said, “We make 11 kinds of bicycle parts and sell to different districts in Bangladesh. We make carriers, side stands, relay clamps, springs, carrier springs, lock clips, bell clamps, etc.”

Shiba Nanda Das, the factory owner, said he procures raw materials from Dhaka. He needs to procure iron bars, fine wires and plain sheets. He sells the parts to wholesalers in Meherpur, Jessore, Magura, Kushtia, Faridpur, Naogaon and Satkhira.

Islam said, “We can make 250 stands a day, 40 carriers, 500 springs, and 50 dozen relay clamps.”

Shiba said, “Carriers cost Tk 200 to make and sell for Tk 215, side stands cost Tk 40 and sell for Tk 42.50, relay clamps cost Tk 14 a dozen and sell for Tk 16, a spring costs Tk 7 and sells for Tk 8, lock clips cost Tk 10 a dozen and sell for Tk 12, bell clamps cost Tk 63 a dozen and sell for Tk 65.”

The parts are painted with zinc to protect from rusting.

Monirul Islam, an assistant at the factory, said, “We are able to run our families from our earnings at the factory. Although it is a district-based factory, we supply a large number of parts to different districts all around the country.”

In addition, wholesale buyers come to the factory to collect spare parts too, he said.

Sabdar Hossain, an owner of a cycle parts shop, said, “Most owners of cycle shops in Jessore buy a huge quantity of parts from Jhenidah. All the parts are of good quality.”

Shariful Islam, another cycle shop owner in Kaliganj upazila town, said, “We buy cycle parts from the local factory. We get good profits by selling the parts. “

Miraz Hossain, a wholesale parts seller in Kushtia, said, “I buy cycle parts from here and supply to different markets in Kushtia and Magura.”

Shiba said, “I need funds at the moment to expand business operations. It will also help to employ a good number of people in the area.”

1m tonne higher rice yield likely this year

http://www.thefinancialexpress-bd.com/more.php?news_id=156756&date=2011-11-21

1m tonne higher rice yield likely this year
Nizam Ahmed

Bangladesh expects to yield some 35 million tonnes of rice this year, about 1.0 million tonne higher than that of the last year, according to the officials of the ministry of agriculture (MoA) Sunday.

Meanwhile, the world output of rice is projected at 461 million tonnes, 2.0 per cent higher than that of last year, the estimates by the United States Department of Agriculture (USDA) indicated.

The projected global production of 461 million tonnes will still be 2.0 per cent lower than the original target for the year 2011-12 (crop season), the USDA stated in its latest report.

“We hope to harvest a record rice production of some 35 million tonnes that includes the output during this year’s Aman season,” a senior official of the MoA told the FE.

Farmers have started harvesting Aman crop, following a bumper Boro yield this year, he said.

The MoA official said Bangladesh had harvested good rice crop during the last four consecutive years due to favourable weather conditions and non-recurrence of natural calamities like floods and cyclones.

Despite increase in production, Bangladesh is likely to import some 750,000 tonnes of rice in the fiscal year (FY) 2011-12 to help keep the market stable, sources said.

“Bangladesh’s import estimate has been raised by 200,000 tonnes to 750,000 tonnes for the year,” USDA stated in its latest report, quoting a US Agricultural Officer in Dhaka.

It said the country’s private sector is expected to increase imports from neighbouring India, now that the latter has lifted its earlier ban in export of non-basmati rice.

Cement exports may double

http://www.theindependentbd.com/business/others/80824-cement-exports-may-double.html

Cement exports may double
Author / Source : RAFIQ HASAN

DHAKA, NOV 20: Cement exporters are now upbeat on doubling exports of the construction materials to the northeast Indian states, also known as ‘seven sisters,’ following Delhi’s declaration to give duty- free access to all goods from LDC states in the Saarc region, including Bangladesh. “We hope export would increase significantly and at least be double from the existing amount if the facilities are allowed,” said a cement exporter. Such zero tariff benefit was a long-time demand of the cement exporters, he pointed out.

Currently, around two lakh tonnes of cement are being exported to India annually. Industry insiders, however, say such benefit would be visible in the upcoming construction season.

According to sources construction activities remain dull on both sides of the border during rainy season mainly due to lack of brick.

“We are yet to get any confirmation from the governments of India and Bangladesh about the duty free access of cement,” said Abdul Khaleq Parvez, vice-president of Bangladesh Cement Manufacturers Association (BCMA), a platform of private cement factory owners.

“We read in the newspaper and we are expecting a notification very soon in this regard,” he added.

On November 9, India granted duty free access of all products from five least developed nations of South Asian Association for Regional Co-operation (Saarc), including Bangladesh, except wine and tobacco, according to an official notification of the Indian government.

Although Bangladesh has a surplus amount of cement after meting its domestic demand, the absence of Delhi’s zero tariff benefit remained as a barrier to boosting its exports to the seven sisters.

The cement factories in the country have the capacity to produce over 20 million tonnes against the local demand of 8-10 million tonnes. Of these, only around two lakh tones are exported to India.

According to sources, 8-10 major factories are engaged in cement exports to the neighbouring country. “So far my knowledge, nowhere other than India, cement is exported from Bangladesh,” Parvez earlier told The independent over telephone.

Industry people said the present market demand for cement in northeast Indian states is around 3 million tonnes, while those states produce around 1 million tonnes only. These states bring cement by road from distant West Bengal, Madhya Pradesh, Orissa and Bihar states. Bangladeshi cement has a competitive advantage there due to its lower transportation cost, industry sources said.

As a result, the sources said, the demand of Bangladeshi cement in seven sister states is very high as those are cheaper than the product coming from other states.

It took three to four days to reach a truck loaded with cement from West Bengal to Tripura. On the other hand, if it is imported from Bangladesh it can be reached within 10 to 15 hours.

As a result, the transport cost is much lower and traders of those states feel much comfort to import cement from Bangladesh, the source elaborates. They said cement production in Bangladesh boomed since late 1980s as dozens of cement factories were set up in different parts of the country. Some multi-national companies also came up and set up production plants here. The major cement factories in the country are Crown Cement, Diamond Cement, Premier cement, Heidelberg Cement, Lafarge Surma Cement, Confidence Cement, Meghna Cement, Niloy Cement, Aramit Cement, Padma Cement and Modern Cement.

Crown Cement has been the top cement exporting company to India from Bangladesh since 2003. According to MI Cement Ltd, the company exported 68,000 tonnes Crown Cement fetching US$ 5.48 million between the period of July 2009 to June, 2010. The company earned $2.267 million through exporting cement in 2008-09 fiscal.

$ 31.4m deal for Shikalbaha power plant

http://www.theindependentbd.com/business/finance/80821–314m-deal-for-shikalbaha-power-plant.html

$ 31.4m deal for Shikalbaha power plant
Author / Source : UNB

Dhaka, Nov 20: The government has signed a US$ 31.4 million co-financing loan agreement with Abu Dhabi Fund for Development (ADFD) for the 225 megawatt Shikalbaha duel-fuel combined cycle power plant. Joint secretary of the Economic Relations Division ATM Mostafa Kamal and Abu Dhabi Fund director general Mohammed Saif Al Suwaidi signed the deal on behalf of their respective sides on November 17 in Abu Dhabi, said a handout on Sunday.

The estimated cost of the project, to be implemented by the Bangladesh Power development Board (BPDB), is US$ 287.95 million. The total foreign financing for the project is US$ 193.01 million.  Earlier, another co-financing loan deal worth US$ 53 million was signed with Kuwait Fund for implementing the project.

Meanwhile, Saudi Fund and OPEC Fund have assured the government of providing funds for the project. The government will provide US$ 94.94 million for the project.

The project is aimed at addressing increased demand of electricity in Chittagong apart from stabilising the national grid. Abu Dhabi Fund has been a development partner of Bangladesh for long and the government has so far got US$ 114.25 million credit facilities from it since 1974.  It has also provided US$ 17.2 million donation to Bangladesh.

9.75 lakh tonnes wheat to be produced this season

http://www.bssnews.net/newsDetails.php?cat=2&id=213226&date=2011-11-20

9.75 lakh tonnes wheat to be produced this season

RANGPUR, Nov 20 (BSS) – The government has fixed a target of producing 9.75 lakh tonnes wheat by bringing 3.75 lakh hectares land under its farming in the country during this Rabi season, official sources said.

Deputy Director of the Department of Agriculture Extension (DAE) Mamunur Rashid said adequate steps have been taken to make the wheat farming programme successful.

“The farmers have already started sowing wheat seeds at places where the farmers recently completed harvesting the short duration Aman paddies,” agri-scientist Dr MA Mazid said.

Dr Mazid, who is also Dinajpur Hub Manager of Cereal Systems Initiative for South Asia (CSISA) told BSS today sowing wheat seeds will continue till the first week of December in the country.

Horticulture Specialist Khondker Md. Mesbahul Islam of the DAE said different departments and organisations are assisting to ensure smooth wheat farming by providing latest technologies, quality seeds and other facilities to the farmers.

Under the programme, 6,32,770 tonnes of wheat (64.90 percent of the fixed national target) will be produced by bringing 2,43,373 hectares land under its farming in all 16 districts in the northern region during this season.

“To achieve the target, quality wheat seeds, latest agri-technologies, fertilizers and other inputs are being provided to the farmers side by side conducting motivational activities,” DAE’s Additional Director Dr Kalidas Debnath said.

Of them, 3,09,369 tonnes of wheat including Satabdi, Bijoy, Gaurab, Sourab, Pradip, Monalisa, Kanchan, Akbar, Sufi and BARI Gom 25 and BARI Gom 26 varieties will be produced from 1,18,988 hectares in Rangpur Agriculture Zone (RAZ) this season.

Talking to BSS, Dr MA Mazid said over 15,000 farmers under Dinajpur Hub of CSISA are expected to adopt the Conservation Agriculture (CA)-based technologies at large-scale to increase wheat productions at reduced costs in the northern region.

The CSISA with GO-NGO collaboration has been disseminating these CA technologies among farmers including using Power Tiller Operated Seeder and Power Tiller Operated Bed Planters with the help of Two-Wheel Tractors, he said.

“These CA-based technologies are being disseminated with assistances of International Rice Research Institute (IRRI), International Maize and Wheat Improvement Center (CIMMYT), Bill & Melinda Gates Foundation, CSISA and USAID,” he added.

“We are expanding farming of the stem rust disease resistant BARI Gom 26 (Uganda 99) variety wheat by providing its 18 tonnes seeds among 15,000 farmers in seven northern districts this season after huge success last season, Dr Mazid said.

Renovation of power plants

http://www.daily-sun.com/details_ds-govt-to-sign-mou-with-russia_399_1_3_1_2.html

Renovation of power plants
Govt to sign MoU with Russia
Shamim Jahangir

The government is contemplating to sign a Memorandum of Understanding (MoU) with Russia to renovate a number of old power plants in the country.

“We are preparing draft to sign the MoU with Russia as early as possible,” a senior official of the Power Division told daily sun on Sunday.

He said the government has a plan to rehabilitate and maintain a number of old power plants by the help of Russian state-owned power company through signing the MoU. At least 10 power plants, having a combined capacity of 833MW, stopped electricity generation due to lack of maintenance and overhauling, the official said.

The power plants are–30MW Ghorasal unit 2, 190 MW Ghorasal unit-6, 150 MW Siddhirganj steam, 29MW Haripur GT unit-3, 180 MW Raojan Steam unit-2, 50MW Kaptai Hydro power unit-3, 30MW Khulna steam unit-1, 20MW Sylhet GT, 90MW Barapukuria coal-fired power plant unit-1 and 64 MW Ashuganj Steam.

The government has already taken an initiative to rehabilitate the 30MW Ghorasal unit-2 gas-fired power plant with Russian company Technopromexport, the official said.

The Russian federation had established a series of power plants after independence of the country.

“Russian support, after independence in 1971, to reconstruct country’s power sector is enormous. So the two sides want to build it again,” the official said.

It would be the latest development with Russia after both countries signed an agreement on November 2 this year to install two separate reactors, having capacity 1000MW each, for installing nuclear power plant at Rooppur in Pabna, sources said.

Besides, the Russian state-owned Gazprom has proposed to drill 10 exploratory and development wells here to reduce gas crisis immediately.

The Energy and Mineral Resources Division will soon place the Gazprom proposal before cabinet’s economic affairs committee.

Canada wants to invest in potential sectors under PPP

http://www.newstoday.com.bd/index.php?option=details&news_id=44844&date=2011-11-21

Canada wants to invest in potential sectors under PPP

Canada has shown interest to invest in Bangladesh’s electricity generation, water treatment, construction and jute sectors under the Public Private Partnership (PPP), reports UNB.

Former Deputy Premier of Ontario Province of Canada and Minister for Energy and Infrastructure George Smitherman said this when a four-member delegation, led by him, met FBCCI president AK Azad at FBCCI in the city on Sunday.

Smitherman sought cooperation from the FBCCI in utilising their investment potentials in the sectors.

He said Bangladesh could be an FDI destination as the country’s economic growth rate and export earnings were good despite global ‘recession’.

Smitherman also said they are more interested to invest in electricity generation, water treatment, and high value-added RMG and jute sectors if Bangladesh provides a favorable environment.

Azad thanked Smitherman for his interest to invest in Bangladesh, and said the country could be a suitable place for foreign investment as government policies are going to be more flexible and investment friendly.

He said the bilateral relationship between Canada and Bangladesh is built upon shared values of democracy and pluralism, with exclusive focus on development cooperation, trade and investment, regional security, immigration and people-to-people links.

Jashim Uddin said, “Since we’ve scarcity of electricity and having limited resources of gas, coal-based electricity generation might be a potential sector for investment.”

He also urged the delegation to invest especially in solar power, water treatment, high value-added garments manufacturing, textiles and jute as all facilities are available in Bangladesh.

Both sides emphasised further strengthening the bilateral trade and economic relations between Canada and Bangladesh.

FBCCI first vice-president M Jashim Uddin, vice-president Mostofa Azad Chowdhury Babu, directors Obaidur Rahman, SM Nurul Hoque, President of Bangladesh-Myanmar Chamber of Commerce and Industry KB Ahmed, Byung-Duk Ahn, Dr Chul Seung Kee, Elliot Jinhwa Pak and Mir Shahabuddin Mohammad were also present.

The value of bilateral trade has tripled from US$ 593.0 million in 2005 to US$ 1.6 billion in 2010-2011 and Bangladesh’s exports to Canada for the FY 2010-2011 was US$ 994.67 million while imports were US$ 572.74 million.

As of April 2011, the proposed foreign and joint venture investment recorded by the Board of Investment to Bangladesh from Canada stood at US$ 1.8 million which for the FY 2009-2010 was US$ 1.18 million. The actual investment from Canada as of 2009 was US$ 0.21 million generating an employment for 565 employees.

Women entrepreneurs to get Tk 25 lakh collateral-free loans soon: Barua

http://newagebd.com/newspaper1/business/40752.html

Women entrepreneurs to get Tk 25 lakh collateral-free loans soon: Barua

SME Foundation managing director Syed Rezwanul Kabir and Eastern Bank managing director and chief executive officer Ali Reza Iftekhar exchange documents after signing an agreement in a city hotel on Sunday. — New Age photo

Bangladesh Sangbad Sangstha . Dhaka

Industries minister Dilip Barua said on Sunday that steps would be taken to increase the volume of collateral-free loans for women entrepreneurs up to Tk 25 lakh from the existing Tk 7 lakh.

Terming access to finance as key barrier to the growth of the small and medium enterprises sector, he said the entrepreneurs cannot go a long way due to lack of finance and loans facility.

He was speaking at an agreement signing ceremony at a hotel in the city. The SME Foundation, Eastern Bank Ltd, USAID-PRICE project and Aarong, a trade organisation, signed the agreement.

Under the agreement, a Tk 1 crore would be disbursed among entrepreneurs of the leather industry involved in the Aarong marketing.

Bangladesh Bank governor Atiur Rahman, managing director of SME Foundation Syed Rezwanul Kabir, chief executive officer of EBL Ali Reza Iftekhar spoke on the occasion as special guests.

Barua said it is unfortunate that banks and financial institutions are interested to provide loans to business people instead of entrepreneurs.

The minister called upon the private sector to come forward to supplement the government efforts in creating more entrepreneurs to propel the growth of the country’s economy.

Atiur described the SME sector as an engine of the economic growth and said it can be used as a tool to cut poverty.

He stressed the need for addressing the financing problem to the SME sector and said the country has now around 2,500 small and medium entrepreneurs in the sector and it has created as many as seven lakh employments directly or indirectly.

EBL offers SME loans to leather industry

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EBL offers SME loans to leather industry
Business Report

SME Foundation and Eastern Bank Ltd has signed a Memorandum of Understanding (MOU) on Sunday to give low cost loans to small entrepreneurs of the country’s leather industry starting the distribution from the signing spot.

Two small entrepreneurs received loans on the occasion.

The MOU was signed at a local hotel in the city. Managing Director and CEO of Eastern Bank Ltd Ali Reza Iftekhar and his counterpart of the SME foundation Syed Rezwanul Kabir signed the accord.

Industries Minister Dilip Barua was chief guest while the governor of Bangladesh Bank Dr Atiur Rahman was the special guest on the occasion. Under the agreement Eastern Bank will offer loans to small entrepreneurs of the leather industry at 9.0 percent interest.

The credit volume may vary from Tk 50,000 to Tk 10,00000 crore. Those having business experience of minimum one-year period are eligible for the loan to be repayable in three years. One has to put no collateral against the loans.

Speaking on the occasion, the Industries Minister said SME sector plays important role as the growth of engine in the country’s industrial sector. But their number one problem is the funding crisis. He said the move of the Eastern Bank to give them low cost loans will go a long way to fill up the credit vacuum in this sector.

Barua said talks are also in progress to secure loans for the country’s SME sector from the Islamic Development Bank.

Dr Atiur Rahman said SME sector has mainly focused on promoting the country’s middle to lower end entrepreneurs and this group play the most pivotal role in the nation’s overall development.

Special Tourist Zone will be set up in CHT

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Special Tourist Zone will be set up in CHT

RANGAMATI, Nov 20 (BSS)-Civil Aviation and Tourism Minister GM Quader said a ‘Special Tourist Zone’ will be set up in Chittagong Hill Tracts area to increase the facilities for local and foreign tourists.

Addressing a meeting at Rangamati circuit house on Saturday afternoon GM Quader said according to the policy of the government, priority is given to hilly areas to flourish country’s tourism industry.

The minister called upon the affluent people of the society to come forward to set up more tourist centres in the private sector to welcome local and foreign tourists.

Later he visited the non-government tourists centres at Pedahting Ting and Tuktuk in Rangamati.