Bangladesh Economy: News & Updates

[CaPtAiN_pLaNeT]

Perhaps, you would not have as much excited about this power news if you would live in BD. It's horrible if the power goes at late night like 3.00 am. BTW, continue.

Do not you think that it is good for bangladesh to set up new power plant?? It will relieve the power shortage of bangladesh. I am fully aware of what power shortage mean. But we need to set up as many power plant as possible not only to resolve power problem but also for industrial growth. For example japan produce 198 MW of electricity where as bangladesh produce only around 4000 MW. I wish they do not make corruption while setting up all the power plant.

 

[TopCat]

[/COLOR]I want to see double digit growth rate for bangladesh as soon as possible .

It will be, just wait 3 more years if we could keep the Mullhas/Tarique/Koko in check..

 

[Skies]

Do not you think that it is good for bangladesh to set up new power plant??

Oh o, the news is fine but not exciting to me as we are suffering here everyday. May be we will enjoy one day. Let's see what will AL do as they are wanting time to serve us.

For example japan produce 198 MW of electricity where as bangladesh produce only around 4000 MW. I wish they do not make corruption while setting up all the power plant.

Sorry, I haven't got it? Does Japan (198 MW) produce less power than us?

 

[CaPtAiN_pLaNeT]

Oh o, the news is fine but not exciting to me as we are suffering here everyday. May be we will enjoy one day. Let's see what will AL do as they are wanting time to serve us.





Sorry, I haven't got it? Does Japan (198 MW) produce less power than us?

Sorry my mistake 198 k MW.

 

[idune]

Bangladesh bank says 6.7-percent growth possible


[/COLOR]I want to see double digit growth rate for bangladesh as soon as possible .

We all like to see double digit growth, but there is huge gap between dream and reality. Even with current situation 6.7% growth is far fetched thought. Just because BB ewished for 6.7% growth, it became news worthy post???

BB dont have any vision or policy tool to achieve that. Since you took BB wish to your heart show us path how in near term at least 6.7 % growth is possible?????

 

[idune]

Do not you think that it is good for bangladesh to set up new power plant?? It will relieve the power shortage of bangladesh. I am fully aware of what power shortage mean. But we need to set up as many power plant as possible not only to resolve power problem but also for industrial growth. For example japan produce 198 MW of electricity where as bangladesh produce only around 4000 MW. I wish they do not make corruption while setting up all the power plant.

As you posting away power plant news, do you have any freaking clue at what cost and what slavery bind Awami regime putting our nation into?????

First, we need power and power plant needed to be set up since 2009not 18 months late as awami regime is doing now. By the time power will be available from these rental plants will be another 3 more years.

Second, Awami league regime intentionally let power crisis worsen so it can handout power plant contracts to its party loyals and indians without any bidding.

Third, purchase price of these power plants are 4-6 times higer than current IPP price and will plunder 5000-6000 crore taka form budget.

Fourth, most of these rental plants will use imported energy to produce electricity and thus Awami regime will provide its looting partners tax payer subsidy and burden national economy for years to come.

So, please enlighten us with your expert thought on how these Awami plundering and looting scheme will deliver GDP growth deception??

 

[Skies]

Second, Awami league regime intentionally let power crisis worsen so it can handout power plant contracts to its party loyals and indians without any bidding.

It is true. Otherwise, why power goes off after 12:00 am and even at 3:00 am when the shops, markets, offices and lights are off. There is no other clue for this crisis to me other than deliberate-crisis by hell-AL. Power did not used to go after 12:00 am in past.

Deceiver-AL .

 

[CaPtAiN_pLaNeT]

As you posting away power plant news, do you have any freaking clue at what cost and what slavery bind Awami regime putting our nation into?????

First, we need power and power plant needed to be set up since 2009not 18 months late as awami regime is doing now. By the time power will be available from these rental plants will be another 3 more years.

Second, Awami league regime intentionally let power crisis worsen so it can handout power plant contracts to its party loyals and indians without any bidding.

Third, purchase price of these power plants are 4-6 times higer than current IPP price and will plunder 5000-6000 crore taka form budget.

Fourth, most of these rental plants will use imported energy to produce electricity and thus Awami regime will provide its looting partners tax payer subsidy and burden national economy for years to come.

So, please enlighten us with your expert thought on how these Awami plundering and looting scheme will deliver GDP growth deception??

@indune it was necessary for bangladesh to set up power plant long ago, perhaps the plan should have taken from early 90s. But none of the governmant has taken that steps.

I think you atleast have the idea no one just can not float a idea of power plant or any such big project without proper finance and planning.

Pakistan is also facing a huge power crisis, but does that mean pakistan governmant will have to diclare 100s of power plant project, which they are not capable of build due to financial problem.

Recently USA decided to give 7.5 billion dollar to pakistan for power projects, china is planning to invest 100 billion, ofcourse all due to geo politics, but none is providing such amount to bangladesh.

By worsening power crisis awami league will axe only their own legs. Giving tender to any one require certain steps. If they do not follow it they will face the music when they will be gone. I do not think that they will try to do something like saikh salim.

Do you think that bangladesh has lots of natural resouces to produce electricity??? When bangladesh is facing a huge gas crisis for the last couple of years. Importing energy to generate electricity or power is nothing new. Countries like india, china, pakistan, turkey all are doing or planning to doing it.

Regarding price i do not know much. Provide your proof. N you should not compare any price which governmant subsidize.

N listen buddy/brother... it is ok to criticize any party or governmant.... but it does not mean that you need to criticize them in a whole sale manner.

What is your view on bnp/jamat governmant who even did not included not a single MW on the national grid?

I have never seen any critisism from you about bnp/jamat. Why it is so? If you continue to do so you will loose your credibility as a credible source.

Try to recognize the work which is good. Power plant is needed and awami league has acknowledged it.They also said that this power crisis will be ressolved by mid of 2012. We can not do it on a single night, espacially when previous bnp/jamat and caretaker governmant has done nothing.

If they can not fulfill their target by mid of 2012, then it will be legitimate for you to criticize them, as still they are forwarding with some plan to increase power generation level to around 10000 MW by 2015.

Just for info, please do not try to degrade bd and its governmant in front of this annoying and disgusting indians with your own political ideology.

If you see then you will find it out that their current governmant has turned out to be a puppet of USA as they even can not take an independant decision like IPI pipe line, still they dream to become super power. But you will not see whatever ideology they adhere bjp/congress, they do not criticize their governmant in a open forum like this due to their own political ideology.

 

[CaPtAiN_pLaNeT]

It is true. Otherwise, why power goes off after 12:00 am and even at 3:00 am when the shops, markets, offices and lights are off. There is no other clue for this crisis to me other than deliberate-crisis by hell-AL. Power did not used to go after 12:00 am in past.

Deceiver-AL .

This may give you some answer:

The puzzle called midnight load shedding

As my father work in the power sector, so I know some of the reason:

All the major industry such as steel mills are instructed to operate after 11 pm and at night due to irrigation some electricity need to be diverted over there and to some remote areas where most of the people remain electricity almost all the day.

The other reason is that all big industry provide big chunk of money to the operaotrs of sub stations, so that they do not cause load shedding to the industries or a particular industry, instead give load shedding to the residential people.

Another reason is that in reality... power generation is low compared to the one which is usually said... so you can easily imagine... if they do not get electricity then how they will distribute?

 

[CaPtAiN_pLaNeT]

Govt to set up fish farm in each union

Monday, 19 July 2010 21:32

Business

Govt to set up fish farm in each union
Bangladesh Sangbad Sangstha . Sangsad Bhaban

The government is implementing a project to set up a fish farm in each union through unemployed youths and fish farmers to raise the country's fish production, fisheries and livestock minister Abdul Latif Biswas told the House Monday.

‘The implementation of the project titled The Expansion of Fish Cultivation Technology Services at Union Level started in July, 2009 and would complete in June 2014,’ he said in reply to a question from treasury bench member Manjur Qader Qoreishi.

Under the five-year project, he added, training will be provided to the unemployed youths and fish farmers through setting up fish demonstration farms at the union level. ‘The government has a plan to build modern digital gates at the Dhaka Zoo instead of traditional gates to facilitate the visitors,’ he said.

Biswas said the number of hatcheries at government and non-government levels in the country is now 77 and 854 respectively and the annual production of fish fries from the hatcheries is 4.66 lakh kilogram.

 

[CaPtAiN_pLaNeT]

Apparel exports grow by 1.2pc in FY’09-10

Monday, 19 July 2010 21:34

Business

Apparel exports grow by 1.2pc in FY’09-10
Kazi Azizul Islam

Export earnings from apparels, which earn more than three-fourths of the country’s entire export proceeds, grew by 1.2 per cent to $12.5 billion in the just ended FY 2009-2010.

But overall export earnings grew by 4.1 per cent to $16.2 billion as a few traditional and non-traditional products performed very well, according to the monthly report of the Export Promotion Bureau.

The report showed that in FY 2009-2010 exports of knit garments amounted to $6.483 billion, higher by 0.8 per cent than the previous fiscal year. Exports of cut and sewn or woven garments amounted to $6.013 million, up 1.6 per cent.

The increased shipment of garments since February helped to offset the minus growth in the previous months. In every month from June to January of the last fiscal year, except October, garment export earnings saw negative growth and the highest figure was recorded at minus 26 per cent in September.

In june, overall monthly export was recorded at $1,600 million, which is a record for any month.

Analysts said that the belated impacts of global recession, increased competition by other countries’ exporters and disruption in production due to shortage of gas and electricity had handicapped Bangladeshi garment exporters.

Faruk Hassan, acting president of the Bangladesh Garment Manufacturers and Exporters Association, said that the cost of yarns and fabrics had increased quite a lot in the last quarter of the past fiscal year, so apparel exports increased in terms of value.

‘Really, one per cent growth is almost unusual in the Bangladeshi apparel industry,’ said Hasan. ‘Moreover, this growth was due to the increased FoB value of shipments because of the increased cost of raw materials.’

Anwar-Ul-Alam Chowdhury Parvez, a former president of the BGMEA and chairman of the Evince Group, said that the seasonal rise in sweater shipments also increased the growth of apparel export in the last three months of the past fiscal year.

Professor Mustafizur Rahman of the Centre for Policy Dialogue saw this growth as ‘recovery’ and said that it could be made sustainable.

‘There has been post-recession increase in demand in the global market and it is helping Bangladeshi exporters,’ said Rahman. However, he sees volatile factors there like reshaped competition and currency fluctuation. ‘Bangladeshi exporters can maintain growth but they need to get support for smooth production, they have to manage the non-wage cost of business and use dynamic marketing strategies.’

The Export Promoting Bureau said that export of some traditional and non-traditional products grew robustly in the year.

Jute goods exports grew by 88 per cent to $398 million, raw jute by 32 per cent to $196 million, home textiles by 72 per cent to $539 million, and terry towels by 18 per cent to $156 million.

Leather export grew by 28 per cent to $226 million, footwear by 9 per cent to $204 million, engineering products — bi-cycle, steel and copper ware etc —by 72 per cent to $311 million.

Export of frozen foods — shrimps and fishes —saw minus growth of 2 per cent and amounted to $445 million.

The volume of manufactured products, which constitute more than 90 per cent of Bangladesh’s exports, increased by 4.5 per cent, but the prices fell by 0.6 per cent.

 

[CaPtAiN_pLaNeT]

Capital's sewerage system to be developed

Tuesday, 20 July 2010 21:44

Capital's sewerage system to be developed

Capital's sewerage system to be developed
ECNEC okays 3 projects worth Tk 2.26b

The Executive Committee of the National Economic Council (ECNEC) Tuesday approved three development projects involving Tk 2.26 billion (226 crore), including a project to develop the existing sewerage system in the capital city, reports UNB.

The approval came from the 3rd ECNEC meeting of the current fiscal year, held at the NEC conference room with ECNEC chairperson and Prime Minister Sheikh Hasina in the chair.

"The entire cost of the three projects will be borne by the public exchequer," said Planning Minister AK Khandaker while briefing reporters after the meeting. Planning Division Secretary Habibullah Majumder was present.

The Planning Minister said the ADP implementation in the 2009-10 fiscal was 91 per cent compared to 86 per cent in the 2008-09 fiscal.

He hoped the government would be able to do better in the current fiscal (2010-11), and achieve cent per percent ADP implementation.

Asked whether 23 per cent ADP implementation in the month of June (July-May 68 per cent) had affected the standard of the project implementation, Khandaker replied in the negative.

The cost of the 'Interim Emergency Sewerage Construction Line and Rehabilitation Project - 2nd Phase' under the Local Government Division has been estimated at Tk 0.84 billion.

Under the project, some 21.30-km new sewerage lines would be installed, one pump station will be constructed, and six more sewerage pumps will be set up for developing the existing sewerage system in the city. The existing sewerage network of the Dhaka WASA is able to serve only 20 per cent of the capital properly.

Besides, 37.25-km sewerage pipeline would also be restored.

The project will be completed by 2012 with the main objective of resolving the problems in areas outside of the sewerage network.

The first phase of the project was completed successfully at a cost of Tk 0.155 billion in 2009.

The two other approved projects are upgrading Signboard-Morelganj-Rayenda-Sharonkhola-Bagi road into a regional highway under the Communications Ministry at a cost of Tk 0.90 billion, and Pagla-Jagannathpur-Raniganj-Auskandi road construction project (revised), also under the Communications Ministry, involving Tk 0.52 billion.

Besides, the ECNEC meeting also reviewed the ADP implementation progress of the Local Government and Rural Development Ministry from July 2009 to June 2010 and also the ECNEC approved projects from March 3-31 this year.

Finance Minister AMA Muhith, Planning Minister AK Khandaker, Agriculture Minister Matia Chowdhury, Water Resources Minister Ramesh Chandra Sen, Commerce Minister Faruk Khan, Communications Minister Syed Abul Hossain, Shipping Minister Shahjahan Khan and advisers to the Prime Minister were, among others, present in the meeting.

 

[CaPtAiN_pLaNeT]

Rangunia EPZ eyes green light

Monday, 19 July 2010 21:34

Rangunia EPZ eyes green light

Rangunia EPZ eyes green light
Jasim Uddin Khan

The government is expected to approve the operations and land acquisition of Rangunia Export Processing Zone tomorrow, which will be home to 300 industrial units.

Entrepreneurs of the initiative hoped they would able to begin development work of the locally owned EPZ by December. The project is expected to complete by 2011.

A meeting with Prime Minister's Principal Secretary Abdul Karim is scheduled to be held tomorrow at the Prime Minister's Office (PMO) to jumpstart the private EPZ.

An official of the PMO said the government considers approving the EPZ as dozens of foreign investors in the last couple of months have sought industrial plots in Dhaka or Chittagong.

"Foreign investors are mainly seeking industrial plots at the two cities as they said that facilities are not adequate at other places for them to stay," the official said.

Due to a surge in demand for industrial plots at the two cities, the government felt the need to develop several other EPZs, he added.

Other issues, including authority for industrial registration, lease of land, building code and reforms to private EPZ Law of 1996, are to be discussed.

The Rangunia EPZ is proposed to be located within 50 kilometres of Chittagong on about 400 acres of government fallow land and family-owned land.

The EPZ will employ about 50,000 people and receive investment worth about $1 billion.

In addition to private entrepreneurs, bilateral and multilateral donors and financial organisations are ready to fund the project, sources said.

"We completed a topographic and contour survey of the site and we expect to start development work by this winter," said Kayum Chowdhury, managing director of Chittagong Industrial Park Ltd (CIPL), the owning company of the Rangunia EPZ.

He said they already received dozens of proposals from different local and foreign entrepreneurs to establish different industries.

"We are mainly interested in setting up agro-based and information technology based industries at the EPZ. Besides, we will accommodate several shoe factories who want to relocate from Taiwan and China," Chowdhury added.

The agro-based industries will be able to produce fruits and vegetable processing industries. Farmers of these localities have long been deprived of fair prices due to a supply demand gap and a lack of necessary processing factories.

Chowdhury said they are planning to develop contract farming at these areas, so that the farmers are get better prices for their produce.

CIPL initiated the Rangunia EPZ project in 1999 and got its licence in 2000, but it was held up for the last decade due to political reasons.

The present government has a strategy to set up more industrial parks for local and foreign investments.

The previous Awami League led government in 1997 allocated lands to set up the Korean EPZ in Chittagong, under the Bangladesh non-government EPZ Act, 1996.

 

[Skies]

This may give you some answer:



All the major industry such as steel mills are instructed to operate after 11 pm and at night due to irrigation some electricity need to be diverted over there and to some remote areas where most of the people remain electricity almost all the day.

The other reason is that all big industry provide big chunk of money to the operaotrs of sub stations, so that they do not cause load shedding to the industries or a particular industry, instead give load shedding to the residential people.

Running steel mills after 11 p.m/a.m and giving bribe to the sub stations are not new things in BD. Moreover, it's rainy reason in here. So load shedding after 12:00 a.m is unreasonable which we did not see in past.

 

[bd_4_ever]

Local co to invest $7.33m in Ishwardi EPZ


M/s Q-Point Apparels Limited, a 100 per cent local-owned company, will invest US$7.33 million for setting up a garment manufacturing industry in the Ishwardi Export Processing Zone (EPZ), according to a press release.

In this connection, an agreement was signed between Bangladesh Export Processing Zones Authority (BEPZA) and M/s Q-Point Apparels Limited at BEPZA Complex in the city Monday.

BEPZA Member (Investment Promotion) Md Moyjuddin Ahmed and Q-Point Apparels Managing Director Md Shahidul Islam signed the agreement on behalf of their respective organisations.

Local co to invest $7.33m in Ishwardi EPZ