Awami govt set to destroy backbone of Bangladesh economy

[TopCat]

Bangladesh stands tall in Asia’s export

Bangladesh stood tall with 11.88 per cent export growth until May 2009 amid tumbling shipments from major Asian countries because of the lingering global financial slump.

Goods worth $14.14 billion were shipped out of the country between July 2008 and May 2009, compared to $12.63 billion during the same period of last year, according to official data.

China, India, Pakistan, Malaysia, Vietnam and Thailand were struggling to stop the free fall in export shipments as the global recession cut demand for goods in both sides of the Atlantic.

China’s exports fell by a record margin in May. Exports tumbled 26.4 per cent from a year earlier, exceeding February’s previous record drop of 25.7 per cent, the Chinese customs agency reported.

The growth in India’s merchandise exports dipped to 12.9 per cent for May 2009.

Pakistan’s export contracted by 5.14 per cent after it managed to fetch $16.262 billion between July 2008 and May 2009 compared with $17.143 billion of the year-ago period.

Trade experts and exporters attributed Bangladesh’s export success to the competitiveness of the country’s garment sector and availability of cheap labour.

Centre for Policy Dialogue executive director Mustafizur Rahman said readymade garment sector led the way although exports of frozen food, leather and jute fell.

He pointed out that RMG manufacturers produced lower-end products whose demand did not fall significantly in global destinations. Besides, he referred to availability of cheap labour which was an added advantage for the RMG sector to stay competitive amid a fierce trade battle among major competitors.

Admitting the fact of cheap labour, Bangladesh Knitwear Manufacturers and Exporters Association president Fazlul Haq said there are other factors too, which worked behind the good export performance of the RMG sector.

He said better delivery, lower price and sewing quality kept Bangladesh still attractive when its rival countries pumped in billion of dollars stimulus package to halt the export slide.

Vietnam’s export turnover declined in the first five months of 2009, posting the first negative growth in more than 10 years. Vietnam’s May export revenues are estimated at $4.4 billion, up 2.8 per cent month on month but down 24.4 per cent year on year.

The latest trade figures from Bank of Thailand show that Thai exporters continue to suffer. The value of Thai exports was 26.5 per cent less in May than a year ago. Annual exports have contracted for seven consecutive months.

Malaysia’s exports fetched $58.70 billion for January-May 2009 period. Earning from major export products decreased from the corresponding period of 2008, except for liquefied natural gas which grew by 13.1 per cent.

Bangladesh stands tall in Asia?s export - Export Deals - Zimbio

 

[idune]

Bangladesh's exports growth keeps on plunging

Source: Xinhua [11:22 July 17 2009]

Bangladesh's export growth in the first 11 months of the immediate past fiscal year ending in June dipped to 11.88 percent as global financial meltdown hurt demand for the South Asian country's major exporting item garments.

According to official statistics of Bangladesh's Export Promotion Bureau (EPB)released here on Thursday, the country fetched around 14.14 billion US dollars from exports in July-May period of the last fiscal year 2008-09 (July 2008-June 2009) while it was 12.64 billion US dollars in the same period a year ago.


The EPB data showed the country's export growth steadily decelerated from 42.39 percent in the first quarter of 2008-09 fiscal year to 19.38 percent in the first half and 12.76 percent in the first 10 months.

The country's exports earning also fell short of target by 3.18 percent in the first 11 months, the EPB data showed.
It showed that the export earnings in May stood at around 1.32 billion US dollars, which is nearly 4.21 percent higher than that in the same month of the last fiscal year.
According to the EPB, the major garment exports earning, including knitwear and woven garments, grew by around 17.24 percent to 11.21 billion US dollars, accounting for 79.28 percent of the total exports in the July-May period.

The country's garments export growth steadily decelerated from 23.38 percent in the first seven months of the last fiscal year 2008-09 to around 20 percent in nine months and around 18.11 percent in the first 10 months.

Besides, according to the official data, the country's second largest export item frozen foods recorded sharp fall in export in May. Frozen food exports dropped by 12.43 percent to 421.70 million US dollars in the July-May period of the 2008-09 fiscal year.

Bangladesh fetched 14.11 billion US dollars from exports in 2007-08 fiscal year and set 16.29 billion US dollars of exports target for the 2008-09 fiscal year.

Global Times - Bangladesh's exports growth keeps on plunging

 

[idune]

Waning exports

Mushfique Wadud talks to trade bodies and experts about the recent decrease in export earnings

During the tenure of the previous BNP-led four party alliance, businessmen were extremely vocal at blaming the political agitation for the negative growth of the export items. The government also criticised the opposition’s role for the negative impacts on the economy.

However, during its fifteen month period, despite not being faced with any significant political agitation or strikes, this government is still afflicted with low exports. While there has been a negative growth in the export of most major export items, businessmen and experts fear even worse times ahead.

Most experts and investors believe that the fall in exports is a delayed reaction to the global recession during when the Bangladesh economy remained rather unfazed while some of the major economies of the world had the toughest times. The exporters inform Xtra that while they were unaffected to a large scale during the global meltdown, due to the low cost goods which still had high demand, they failed to take some necessary precautions following it, due to the relentless power and gas crisis.

‘Random power outages and insufficient gas supplies have forced many exporters to turn down orders,’ says Abdus Salam Murshedy, president of Bangladesh Garments Exporters and Manufacturers Association (BGMEA). Although the current ruling party had pledged to take proper initiatives to improve the export situation in its election manifesto, the exporters and experts opine that they have not seen too many initiatives over the past one year.

The consequences through the lack of initiatives can be realised through the 4.69 per cent decrease in overall export, when compared to the previous year, during the first seven months of the 2009-10 fiscal year. The Export Promotion Bureau’s (EPB) statistics show that the export target has fallen by 12.03 per cent during this time.

Against an export target of $ 989 crore 29 lakh till January, only $ 142 crore 10 lakhs was actually exported. During this period, there has been a negative growth in almost all the major export items.

Only in knitwear, the most significant export item, there has been a 6.85 per cent fall in export earnings while there has been a 6.99 per cent fall in earnings from woven garments. The frozen food items sector saw a decrease in export earnings by 17.90 per cent in the first six months of 2009 to 2010.

The negative growth prevailed in case of other less significant export items as well.

According to the Census Bureau of the US state department, the export earnings for products from Bangladesh to USA in January of this year decreased by 21 per cent from last year. In January 2009, products worth $ 35 crore 14 lakhs were exported to USA but in January, 2010, products worth $ 27 crore 29 lakhs were exported to the same market.

‘We will lose our market if this situation persists,’ says Murshedy. ‘If proper steps are not taken right now, the export earnings may fall further,’ says Fazlul Hoque, president of the Bangladesh Knitwear Manufacturing and Exporters Association (BKMEA).

Some experts, however, explain the situation from a different perspective. ‘The export earnings are at a decline as the global economy is still recovering from the recession,’ says Zaid Bakht, research director of the Bangladesh Institute of Development Studies (BIDS). ‘Under such circumstances, businesses can try to cut down production costs, which they cannot do at the moment due to the gas and power crises,’ he informs Xtra.

Interestingly, while there has been a fall in export of knitwear and garments, the global RMG industry has seen a positive growth. As a result, the competition from countries like China, Vietnam and other countries has become stronger.

Exporters point out that the export sectors of these countries received stimulus packages from their governments which helped them enjoy the growth. However, although the Bangladesh government did declare such packages, the incentive promises are yet to be fulfilled.

The power and gas crises in the recent months have added salt to the injuries of these exporters. RMG factory-owners inform Xtra that they cannot sustain their natural production level due to the persistent power crisis while due to the low pressure of gas, the dyeing process is also being hampered.

Additionally, the costs have increased for these businessmen as they have to run generators. They cannot also deliver orders on time due to the crises, leading them to lose out market to competitors.

‘Although the cost of power is Tk 4.72 per unit, the cost is Tk 14 per unit when we use generators,’ says Fazlul. ‘The power crisis is responsible for the 10 per cent decrease in our production capacity,’ he adds.

Most of the time, when the production is delayed, the exporters go for air shipment, which further increases the cost of production. According to the BGMEA, from November till date, the garment industry owners exported 42,000 tonne of products by air shipment.

BGMEA informs Xtra that, while the cost is 14 to 25 cent per item when shipped through waterway, the cost is more than $ 4 dollars in case of air shipment.

As production costs are an important factor under current global economic conditions, the exporters of competing countries have already cut their production costs and are currently offering products at much lower rates. Bangladesh, on the other hand, could not do so due to the prevailing crises and other problems.

‘Unemployment persists in some of the developed countries and as such, the overall market is still at a decline,’ says Khondoker Moazzem, senior research fellow of Centre for Policy Dialogue (CPD). ‘We need to offer low cost products which our exporters cannot do due to different crises,’ he adds.

‘The buyers, however, are no longer interested in long term contracts as there are uncertainties about the sale of large quantity of products. While the competitive countries are delivering these orders at shorter times, Bangladeshi exporters are finding it hard to do so,’ he says.

Khondoker feels that under such circumstances, the increase in power tariff is not advisable. ‘This will increase the production cost further,’ he explains.

‘I think the government can consider providing furnace oil, used for the generation of power, tax free, to these exporters,’ he suggests.

he export earnings of other sectors, like shrimp, are also at a decline. The sector had a negative growth of 17.90 per cent this year.

The exporters of this sector inform Xtra that the industry is struggling to survive following a ban on shrimp export by the European Union (EU) after they found some poisonous chemical in the shrimp from Bangladesh. As a result, the shrimp exporters could not export shrimps to the EU countries for seven months.

Only recently, the shrimp export to the region has been initiated again. However, a substantial export order was also cancelled by Russia very recently.

Exporters inform Xtra that the industry is facing production level problems post-Aila as they cannot cultivate shrimps at a large scale in the coastal areas anymore.

Similarly, the leather industry exporters have faced a negative growth.

‘The government should implement the incentive packages for these exporters who are still struggling against the global recession fallout,’ says Khondoker. ‘Without the stimulus package, it is difficult for us to survive in this situation,’ said Mushedy.

Zaid thinks that the government should support the exporters in terms of power generation. ‘If farmers can get support for Boro cultivation, why should they not support the exporters in terms of power generation?’ he asks.

‘In the current situation, the government should also monitor that there are no labour unrests in these industries,’ he adds.

Khondoker also thinks that Bangladesh should now search for new markets. ‘The garments industry will not be able to survive if they do not look for new markets as soon as possible,’ he says.

Khondoker informs Xtra that leaving the USA and UK, exporters can pitch to 13 other countries like Australia, Japan, Hong Kong where there is a total market of $ 71 billion.

‘But there are some barriers in these countries and the government should use trade diplomacy to penetrate these markets,’ he recommends.

He also feels that new items should be produced. ‘We should cut our dependency on a fixed group of export items,’ he urges.

‘Looking for new markets would result in additional costs and although the government did mention incentives for finding new markets, we are yet to get these,’ says Murshedy. ‘We will definitely go for new markets, if we receive proper support from the government,’ he says.

He informs Xtra that already some fairs have been organised to attract buyers from these new markets. u

Hard times

· During the first seven months of the 2009-10 fiscal year, overall export declined by 4.69 per cent from previous year
· In knitwear, there has been a 6.85 per cent fall
· Despite a global meltdown, the global RMG industry has seen positive growth
· Recession, power crisis and gas crisis responsible: businessmen
· ‘We should look for new market’ : experts

New Age Xtra

 

[idune]

Investment trends negate govt pledges

One-stop service, energy security, corruption-free procedure far from reality a year after AL takes office

Khawaza Main Uddin

The Awami Leage-led government is yet to create, what it unequivocally pledged to the electorate before assuming office a year ago, an enabling environment for attracting both domestic and foreign investments.

Official statistics showed investments marked a declining trend in recent times - a sluggish situation which has been attributed to lack of confidence among both local and foreign investors.

The government has not been able to assure the entrepreneurs of basic prerequisites for making investment decisions - infrastructural facilities, gas and electricity, land and a favourable regulatory regime.

Despite the electoral promises to promote Bangladesh as an attractive investment destination, no concrete steps have been taken as yet while the 'one-stop service' for investors remains a mere rhetoric.

Rather shortfall in power, gas and infrastructure as well as corruption and poor governance plagued the investment atmosphere that prolonged a sense of uncertainty in the mind of potentials investors.

According to the latest figures of Bangladesh Bank, the inflow of foreign direct investment became almost half in the first four months of the current fiscal to $270 million from $420 million during the July-October period of 2008-09 fiscal, a period which was marked by political uncertainty and lack of investors' confidence.
Settlement of letters of credit for imports of capital machinery and industrial raw materials - major yardsticks for measuring investment - declined by 20 per cent and 22 per cent during the same period.

In the first quarter of the fiscal year, private sector credit growth slowed to 13.7 per cent, lower than the annual target of 16.7 per cent and down from 26.6 per cent in September 2008, because of the slack in investment demand.

'One of the major failures of the government during its one year in office was the failure to take advantage of the relatively calm political situation and improve investment atmosphere. However, investors cannot be confident about future political stability,' said Ananya Raihan, executive director of research organisation Development Network.

The economist also expressed apprehensions about the government's performance in ensuring people's wellbeing in the coming years, saying that other indicators of the national economy would not be any rosy in view of the bleak investment prospect.

Reports of widespread tender manipulation and violent incidents over money matters across the country belied the Awami League's electoral pledges to ensure 'maintenance of law and order and discipline, elimination of bribe, corruption and administrative red-tape, avoidance of political influence, creation of an investment-friendly environment and a competitive market system'.

Observers said there was no visible signs that investment increased during the past one year to match the pledges made by the ruling Awami League in its election manifesto - A Charter for Change.

'In order to encourage investment by local and foreign entrepreneurs and expatriate Bangladeshis, the one-stop facility will be made effective by simplifying legal and procedural formalities,' read the manifesto.

The Board of Investment, which earlier made abortive attempts to provide investors with one-stop service, is now working on an organogram as part of a restructuring programme, let alone providing services such as licence, bank loans, land lease, gas and power connections, telephone line, water supply and environmental clearance from a single point.

The AL manifesto said special initiatives would be taken to attract expatriates' remittances in productive investment - a pledge that has been confined to another promise of setting up a specialised bank for non-resident Bangladeshis. Instead, manpower export declined by about three lakh in the year.

Whereas the ruling party pledged to gear the investment policy to implement a strategy for attracting both domestic and foreign investment, the government now appears to be confused about the industrial policy on whether to stop further privatisation of state-owned enterprises or rely on the private sector.

The development activities have become sluggish, while the government has not been able to frame a policy on how to execute the budgetary provision of Public-Private Partnership - though not clearly mentioned in the manifesto - for undertaking large infrastructure and power generation projects.
Despite its emphasis on quick implementation of development projects, the government could utilised only 18 per cent of the Tk 30,500 crore annual development programme in the first five months of the current fiscal.

Global Competitiveness Index 2009, prepared by World Economic Forum, placed Bangladesh at 106th among 133 nations and added that inadequate infrastructure, corruption, low-quality higher education and ineffective bureaucracy continue to trouble the business sector in the country.

After the release of the World Investment Report 2009 showing that Bangladesh received more than $1 billion in foreign investment in 2008, the executive chairman of Board of Investment termed such investment inflow 'very low'. 'We are among the worst performers in the global ranking,'

Business

 

[TopCat]

Power crisis and BNP misrule put the country in quagmire now...

Overcoming power crisis

LESS than two decades back we were discussing seriously mainly about "system loss" in gas and electricity sectors. Common people were given the impression that Bangladesh was floating in gas. Even supplying gas to India was seriously considered at high level. During BNP-led regime

(2001-06) we did not agree to laying of gas pipeline in our soil for supply of gas from Myanmar to India through Bangladesh. When it was revealed that Bangladesh itself might face gas crisis soon Bangladesh requested Myanmar for supply of gas to augment her possible deficit. It was too late. Myanmar refused to accept Bangladesh proposal as she agreed to supply her surplus gas to China.

Stupid BNP thought with submarine cable India will steal all the information from us, so we are at least 10 years behind from India in IT sector. Same happend here for Myanmar pipeline. Fanatic Indiots...

In regard to electricity the 4-party alliance government concentrated more on distribution rather than on production. As such laudable progress was made in collection of electric poles for distribution of electricity. Such silly things happen only in countries where the governments behave like a dictator. It is interesting to note that those who were instrumental in committing that crime to befool the common people are now crying for suffering of the people. What a joke !

Tarique Koko and Gias Uddin al Mamun made 100s of crore selling Khamba to our poor people. We should call that a Khamba government instead of BNP government.

We wonder whether the high-ups of the 4-party regime did ever tried to attach due importance to the infrastructure development, the relation between infrastructure and investment (both local and foreign). Now some of the stalwarts of former BNP-led government argue that their mistakes and omissions cannot be any excuse for the present government. In making such argument they do not like to accept that building infrastructure is a time-consuming, complex and huge task which involving a heavy investment.

First BNP need to learn the meaning of infrastructure and get out of Madrassa education that they bear in mind.

To put tremendous pressure on the present government to wipe out the problem of power outage quickly is not fair. Before we pronounce our judgment we may consider the following points:

* whether the government has been able to give enough emphasis on solving the crisis;

* whether the government is moving in the right direction to solve the crisis;

* whether there is any flow in the coordination of the work; and

* whether enough effort has been made for resource mobilization for investment in the programme for overcoming the crisis.

As we see government is pretty serious about solving the crisis of gas and electricity. With economic development the demand for gas and power increases. In addition, some of our plants are too old. Maintenance of some of our plants is unsatisfactory. These plants need immediate repair and in some cases overhauling. Shutdown of plants for repair work is a ticklish problem.

In the past not enough of consideration was given to produce electricity from renewable source like solar energy, wind etc. The production of electricity from coal has not been given due importance. The present government appears to have given some importance on producing electricity from solar energy and increasing production of electricity from coal.

Perhaps considering the importance and sensitivity of gas and electricity sectors. Our prime minister has rightly kept the portfolio of energy with her. She is also alert about the scandal around energy during the 4-party alliance rule. She seems bent on overcoming the crisis at the earliest. Among her achievements in the sectors are:

* negotiation with Russia for setting up nuclear plants to produce electricity at Ruppur;

* good prospect for receiving assistance from China and India in the sectors;

* good response from Asian Development Bank;

* good start for producing solar energy; and

* achieving better prospect for extracting coal from Barapukuria.

Energy crisis is a great national crisis. We expected enough cooperation from our opposition. Instead, it is threatening to organize protest rallies and public meetings. Generally speaking, we do not see any desperate situation in the gas and electricity sectors. We have already received clear promises from China, India and ADB. The process of singing of pact with Russia is at the penultimate stage. It is matter of time that the government would be able to overcome the power crisis. Thus it is considered reasonable and just to allow the breathing space to push forward its programme.

The government should be cautious and realistic about the implementation of its programmes for energy. We are not certain about supply of electricity from India. Implementation of Chinese and Russian assistance may take time. Even receipt of assistance from ADB is time consuming. Thus concerted and coordinated effort is called for

 

[idune]

Power crisis and BNP misrule put the country in quagmire now...

According to your claim thats why people did not vote for BNP and expected Awami League will do better. What Awami league has to show for in last 18 months????? Awami league waited 18 months so power crisis aggravated and find excuse for massive corruption through power deal without any tender. If they can not take responsibility of solving problem they should leave. People are not looking for excuses and wholesale looting, they are looking for solution. And awami regime deceptive excuses of previous govt is just commical.

 

[TopCat]

According to your claim thats why people did not vote for BNP and expected Awami League will do better. What Awami league has to show for in last 18 months????? Awami league waited 18 months so power crisis aggravated and find excuse for massive corruption through power deal without any tender.

It will take at least another year and half to get out of this quagmire. Commissioning a power station takes time and you had no option but to wait till then.

 

[idune]

It will take at least another year and half to get out of this quagmire. Commissioning a power station takes time and you had no option but to wait till then.

If Awami league stared projects 18 months ago as they have promised to people, solution would have been here now. So your BNP did or did not do is just ploy to deceive people. Unfortunately you are in worng business of selling Awami deception.

 

[TopCat]

If Awami league stared projects 18 months ago as they have promised to people, solution would have been here now. So your BNP did or did not do is just ploy to deceive people. Unfortunately you are in worng business of selling Awami deception.

Hey man I am looking for a principle who could commission a power plant (IPP) within a year so that I could participate in some of the power project which are now in the offing. Will be a great help.. seems like you are the right person to talk to...

 

[Ammyy]

That was in 2006 when BNP was in power.





Today with Awami regime in power

‘Country set to lose $2b RMG market, 3 lakh jobs’

Fiscal Year Total Export Total Import Foreign Remittance Earnings
2007-2008 $14.11b $25.205b $8.9b
2008-2009 $15.56b $22.00b+ $9.68b
2009-2010(Set Target) $17.6b N/A $10.87b

Economy of Bangladesh - Wikipedia, the free encyclopedia

 

[idune]

Manpower export falls by almost half

Lack of diplomatic efforts to nurture old and explore new job markets blamed

Staff Correspondent

As the government finds it tough to tackle the fallout of the ongoing global recession and fails to explore potential manpower destinations, the country’s overseas job market experienced a nosedive, registering a fall of 47 per cent in the first eight months of the current calendar compared with the corresponding period of 2008.

According to official statistics, 327,359 workers went abroad during January-August 2009 against 618,806 in the corresponding period of the previous year, marking a fall of 47.10 per cent.
Out of the 327,359 overseas jobseekers, 172,917 went to the United Arab Emirates, 31,437 to Oman and 26,147 to Singapore.

However, the country’s two major manpower destinations — Saudi Arabia and Malaysia — during the period provided job only for 10,777 and 12,213 Bangladeshi respectively.

Manpower recruiting agents blamed the government’s lack of diplomatic efforts for keeping its labour destination intact as well as fetching new countries.

The government, however, said due to economic recession major manpower recruiting countries halted recruitment which ultimately affected countries like Bangladesh.

Talking to New Age on Tuesday, Elias Ahmed, secretary of the expatriates’ welfare and overseas employment ministry, said the prospect of exploring new manpower destinations for the country in coming months is bleak.

Referring to his recent visit to Romania, the top official of the ministry said east European countries, including Romania, are not alternative destinations for Bangladeshi nationals as was mentioned earlier by previous officials.

He, however, expressed optimism about Iraq where Bangladesh sees huge job prospect in the context of huge reconstruction works in the war-ravaged country.

Ghulam Mustafa, president of the Bangladesh Association of International Recruiting Agencies, said global economic recession and ban imposed by Malaysia and Saudi Arabia contributed to the decline of country’s overseas job market in the recent months.

He said, ‘Due to global recession, our job market has shrunk in the first seven months of the current year. Restriction on manpower export to Malaysia and Saudi Arabia are also key factors behind the decline.’
On the issue of increased remittance, Mustafa said so far the UAE is the largest job destination for our nationals this year.

He said, ‘So far we have sent 1,72,917 Bangladeshis to the UAE of which 70 percent are skilled manpower and they play a key role in the rise of remittance income.’

‘Also awareness campaign jointly conducted by the government, BAIRA and civil societies inspired job seekers to prefer formal channel for sending their hard-earned money back to home,’ Mustafa said.

CR Abrar, coordinator of the Refugee and Migratory Movements Research Unit, said, ‘Resumption of Bangladeshi manpower export to the Malaysian market as well as other factors contributed to the sharp rise in manpower export in last two years.’

The professor of international relations of Dhaka University said for maintaining the growth, the government should have both short and long-term measures.

‘The government should first recognise the manpower export as the thrust sector of the country and immediately mobilise resource for it,’ said Abrar.

Emphasising the need for skills development and protection of rights of Bangladeshi workers abroad, he said the country might focus on protection regime of Bangladeshi workers and making arrangement for skills development for overseas jobseekers.

Abrar said, ‘We must focus on exploring market for our nationals arranging skills development in hospitality and nursing sectors.’

According to official statistics, the country has earned $6 billion during January-July 2009 against $5 billion in the corresponding period of the previous year, registering a growth of 15.19 per cent.

The country fetched record remittance of nearly $10 billion during July-June 2008-09 fiscal, sending 8,75,055 Bangladeshis to overseas job destinations.

Front Page

 

[eastwatch]

Manpower export falls by almost half

The country fetched record remittance of nearly $10 billion during July-June 2008-09 fiscal, sending 8,75,055 Bangladeshis to overseas job destinations.

Razakar criticism will not stop BD from attaining the goal of overseas employment. Only $10 billion was earned last fiscal. But, the earning this year in the first 11 months has surpassed that. This year, the earning will be $11 billion. A 10% increase when most of the countries are falling down straight on their heads.

 

[idune]

Razakar criticism will not stop BD from attaining the goal of overseas employment. Only $10 billion was earned last fiscal. But, the earning this year in the first 11 months has surpasswed that. This year, the earning will be $11 billion. A 10% increase when most of the countries are falling down straight on their heads.

To puncture another ghoti indian dalal deception of eastwatch.

$10 + billion remittance earning is possible today because explosive growth of manpaower export was possible from 2001 to 2008. Growth of remittance earning is reflction of pre 2008 growth period. Since 2008, manpower export has been in declining trend and will catch on earning soon.

 

[idune]

Awami regime is pushing BPC (Bangladesh Petroleum Corp) towards bankruptcy. Awami regime waited 18 months and virtually did not take any action (other than lip service) to tackle power crisis. They purposely let power crisis worsen. Awami regime goal was to award power contracts without any tender to Awami business man, corrupt army generals and offcourse Awami master indians. Not only that Awami regime is providing these entities who were awarded power contract without any tender, 3500 crore taka subsidy. Meaning people of Bangladesh will have to pay Awami looters, indians and corrupt army generals for their corruption money. As a result BPC has to provide furnace oil and diesel at subsidized price and will bankrupt the corporation.

It is worth mentioning commerce minister Faruk Khan business Summit power was awarded contract for power plant.

Report in Bangla:

.:. Welcome to SHEERSHANEWS.COM .:.

 

[eastwatch]

To puncture another ghoti indian dalal deception of eastwatch.

$10 + billion remittance earning is possible today because explosive growth of manpaower export was possible from 2001 to 2008. Growth of remittance earning is reflction of pre 2008 growth period. Since 2008, manpower export has been in declining trend and will catch on earning soon.

So, it is a plus. And even if there is a negative growth what your Jamaat or AL can do about it? Do you understand the term demand and supply? If not, then go to a school and learn fast before you further post your ignorance.

Razakars will not be allowed any more to destroy BD economy. BNP should use it, but should not make a coalition govt with Jamaat. It is because this razakar party is bent on destroying BD economy to prove that Pakistani slavery was a beatiful thing.

Stop ranting by initiating a thread that says only evil of Bangladesh. Why are you so jealous of my country? This country will grow double in the next ten years whichever party is in power. People want development works and places of employment. This is the reason why Chittagong people did not elect a destructive-minded Mohiuddin.

His flag is AL, but his mind is razakar. He was against building a container terminal and he wanted labours to carry goods on their backs. Is this thinking not Jamaati, who want us to ride camels instead of cars?