Corporate
Corporate
NDB to finance $677 m for water supply and gas pipeline construction
Industry Desk: The New Development Bank (NDB) is eager to finance Expanded Dhaka City Water Supply Resilient Project and Replacement of Gas Pipeline between Dhaka and Narayanganj Project.The New Development will provide $677 million loan for the development of the water and sanitary sector and the gas sector of Bangladesh.NDB…
Read More »Size of budget increased by 969 times in 52 years
Mahfuz Emran: The first budget of Bangladesh after independence was announced on June 30, 1972. The size of the country’s first budget announced by the then finance minister of the Awami League government, Tajuddin Ahmed, was Tk 786 crore. After 52 years, the country’s 53rd budget (FY2022-23) will be presented…
Read More »A set of proposals to expand tax net
Zarif Mahmud: Finance Minister AHM Mustafa Kamal will present the last budget of the current government in the National Parliament today. This year’s budget emphasizes new income tax laws and tax hikes, prioritizing International Monetary Fund (IMF) conditions over election-time populism.The finance minister has drawn a table for tax collection…
Read More »Keeping over Tk 950 cr overdue Navana getting Tk 810 cr fresh loan
Staff Correspondent : Four state-owned banks Sonali, Janata, Agrani and Rupali are taking over huge distressed loans of Navana, one of the country’s leading industrial groups, which is on the brink of bankruptcy. The group has such loans to 20 non-banking financial institutions (NBFIs) of around Tk 950 crore.By doing…
Read More »Dozens of insurance cos may beclosed
Zarif Mahmud: The financial condition of several life insurance companies operating business in the country have weakened due to various irregularities. The financial condition of the companies has become so fragile that they are not able to pay the insurance claims of the customers properly. In this situation, the regulatory…
Read More »Allocation to food sector decreasing by Tk 2519 cr
Mahfuja Mukul: In the next (2023-24) financial year, the allocation for the food sector is decreasing by Tk 2,519 crores. The total allocation for this sector is Tk 20,695 crores.In the current budget, Tk 23,214 crores have been allocated to this sector. However, experts feel that it is necessary to…
Read More »Long-term stable policy essential for investment
Professor Shibli Rubaiyat-ul-Islam Industry Report: The economy of the country has huge potentials. There is no alternative to increase investment and employment to exploit this potential. The government is also serious about this. But long-term stable policy is necessary to increase investment.Because, changing business laws, various policies and facilities repeatedly…
Read More »Tea exports decline as domestic demand surges
Industry Desk: Despite the steady growth in tea production over the past decade, Bangladesh’s tea exports have taken a hit due to mounting domestic demand, driven by a growing population and urbanisation.The trend is observed as Bangladesh celebrates the World Tea Day.According to the state-run Bangladesh Tea Board (BTB), tea…
Read More »No need for high ambitious budget
FBCCI President Jasim Uddin Industry Report: The ongoing Russia-Ukraine war has changed the face of the world economy. In this situation, the budget should be formulated realistically, taking into account the global context and internal capacity.Better not to have an ambitious budget. Jasim Uddin, president of FBCCI, the apex body…
Read More »Paddy isn’t coveringproduction cost
Farmers to incur huge loss Zarif Mahmud: This year’s Boro season was the highest cost year for farmers. Irrigation fuel diesel and electricity prices are at record levels. Due to the drought, irrigation has also taken a lot. At the same time, fertilizers, pesticides and labor wages have increased. But…
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