Bangladesh Economy: News & Updates
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BD WARMS AS IPI GAS PIPEINE OPENS
Tuesday, August 24,2010
TEHRAN/DHAKA: Iran’s 7th cross-country gas pipeline was officially inaugurated on Monday. The project, which cost $1.7 billion, is regarded as the first phase of the proposed Iran-Pakistan-India (IPI) gas pipeline, which is also known as the Peace Pipeline.
The pipeline, which extends 902 kilometers from Assalouyeh in the southwest of Iran to Iranshahr in the southeast, will transfer natural gas from the South Pars gas field to some of Iran’s southern provinces.
First Vice President Mohammad-Reza Rahimi and Oil Minister Masoud Mirkazemi attended the inauguration ceremony.
The second section of the pipeline, which is to be about 400 kilometers in length, will be established by Iran’s Khatam-ol-Anbia Construction Headquarters at a cost of 200 to 250 million dollars.
Iran, Pakistan, and India conceptualized the Peace Pipeline project in the 1990s to promote peace and increase security in the region.
The IPI gas pipeline is a proposed 2,775-kilometer pipeline for delivering natural gas from Iran to Pakistan and India, though the signature of a final deal agreement has been delayed several times over price and political issues.
Due to tense India-Pakistan relations, New Delhi stepped back from the later stages of negotiations, although it has never formally withdrawn from the project.
Energy companies in Bangladesh would welcome a decision to join a natural gas pipeline project from the South Par gas field in Iran, an executive said.
Iran and Pakistan agreed to the finalized terms of a natural gas pipeline stretching from the South Pars gas complex in the Persian Gulf earlier this year.
First deliveries of natural gas through the pipeline are expected in Pakistan by 2015. Islamabad has contracted 750,000 cubic feet of gas per day through the pipeline under the terms of the 25-year deal.
Tehran in a letter to the Bangladeshi government offered an invitation to join the project. The Bangladeshi government said it was considering the deal.
Hossain Monsur, chairman of the state-owned energy company Petrobangla, told Bangladeshi newspaper The Financial Express the proposal was welcomed.
"We would be very happy to be a part of the proposed multi-country gas pipeline," he was quoted as saying.
The pipeline would be the first of its kind for Central Asia if developed. Bangladesh said the project would be renamed the Iran-Pakistan-India-Bangladesh pipeline if the government signed onto the deal.
Iran started construction on the pipeline in its territory using domestic engineering companies.
Iran’s proven natural gas reserves stand at about 1,000 trillion cubic feet, of which 33 percent is located in associated gas fields and 67 percent in non-associated gas fields.
Iran has the world’s second largest reserves of natural gas after Russia.
BERNAMA - India Pursuing Import Of Natural Gas From Iran: Minister
August 17, 2010 22:42 PM
India Pursuing Import Of Natural Gas From Iran: Minister
NEW DELHI, Aug 17 (Bernama) -- The Indian government is pursuing the import of natural gas from Iran under the Iran-Pakistan-India project in national interest, the Rajya Sabha (Upper House of Parliament) was informed Tuesday, Press Trust of India (PTI) reported.
"This is in order to enhance the energy security of the country. India has proposed holding meetings of Indo-Iran Joint Working Group on oil and gas and Indo-Iran special joint working group on the project," India's Minister of State for Petroleum and Natural Gas, Jitin Prasada said.
He said during Question Hour that US officials have from time to time drawn the attention of the government to implications of sanctions by UN Security Council and also US domestic laws on projects like the IPI gas pipeline project.
To a supplementary, Prasada said the IPI project is not on the backburner.
"We are making all efforts. The project is not sidelined. Three nations are involved and many technical aspects are being discussed. Till we are not assured about issues like pricing of gas, delivery point of gas, project structure, payment of transportation tariff and transit fees for passage of natural gas through Pakistan, talks will continue," PTI quoted him as saying.
He said efforts are on to get this pipeline to India.
At the same time, Prasada said the government is speaking to other nations also as demand for gas has gone up.
"We are not relying on Iran alone and are talking to other nations also. We have an agreement for 25 years with Qatar," the minister added.
For BD, the problem with IPI remains with DADA country India. I wonder, if this narrow-minded DADA will ever show positive attitude towards BD's interests. IPI project will be another good test for DADA to prove (or disprove?) its sincerety towards Bangladesh.
Although a line extended to BD will not cause India to lose a dime, but to keep its policy of 'Poor thy neighbour,' it may try to derail the Iranian offer to BD. But, let us see what really lies ahead in the future.
Although a line extended to BD will not cause India to lose a dime, but to keep its policy of 'Poor thy neighbour,' it may try to derail the Iranian offer to BD. But, let us see what really lies ahead in the future.
Really a height of stupidity
Bro IGI pipeline is not good for Indian Interest but if BD need that so much so provide us money may be we can provide you way to make it
BTW talk on under sea pipeline is underway BD can also join that project by land route throw India
And take you scrap and BS any where else
August 17, 2010 22:42 PM
India Pursuing Import Of Natural Gas From Iran: Minister
NEW DELHI, Aug 17 (Bernama) -- The Indian government is pursuing the import of natural gas from Iran under the Iran-Pakistan-India project in national interest, the Rajya Sabha (Upper House of Parliament) was informed Tuesday, Press Trust of India (PTI) reported.
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NBR starts collecting transit fees on Indian cargoes
The National Board of Revenue (NBR) has started collecting transit fees on Indian cargoes shipped from Kolkata to Tripura using Bangladesh waterways.
The government has already issued a statutory regulatory order slapping transshipment/transit fees for per TEU container at Tk 10,000 while for bulk product without container Tk 1000 per tonne effective from July 1.
"It is a good sign that the Indians have started paying the transit fees as they are using our infrastructure and territory," said a Bangladesh Inland Water Transport Authority official.
Under the Protocol on Inland Water Transit and Trade signed in 1972, Indian cargoes are allowed to transport from Kolkata to Tripura through Bangladesh waterways, but this the first time they are paying fee, he said.
BIWTA, after getting proper transit payment receipt from the NBR, allows water vessels carrying Indian goods to move through Bangladesh territory, he explained.
In the last two months Indian traders paid transit fees on about 600 tonnes of bulk cargoes, the BIWTA official said.
"The amount will rise significantly when Ashuganj river port will be modernised for handling container cargoes," he said.
Meanwhile, the Inland Water Authority of India (IWAI) has sent a letter to its local counterpart to waive the transit fee on commercial cargoes, said another official of the BIWTA.
"We have no authority to take decision on the issue and we refer the letter to the shipping ministry to take necessary action," he said.
Earlier, India has sought tax waiver for transportation of over-dimensional consignments (ODC) using transit facilities of Bangladesh through Asuganj.
Indian High Commission in Bangladesh recently sent a letter to the ministry of foreign affairs for taking necessary measure and conveying its content to other ministries for helping transportation of ODCs for Palatana project in Tripura.
But the government is reluctant to waive the transit and transshipment fee.
Meanwhile, New Delhi has sent a proposal to allow its cargo to ship to Indian Northeastern states through Ashuganj river port immediately.
"We have received the Indian proposal to transship bulk cargoes through Ashuganj under head-load system but it is only possible after finalisation of operational modalities," BIWTA secretary Syed Monowar Hussain said.
At present, Ashuganj can handle only headload cargoes but a project has been undertaken to make it a developed mechanised port, he said.
Some of the major issues of the operational modalities are freight rate between Kolkata to Ashuganj, responsibilities of all the stakeholders and how customs service will be provided, Mr Monowar said.
"Another important aspect is to build bonded warehouse at the Ashuganj as cargoes will be moved from vessel to truck at the river port," he added.
Tripura border is only 49 kilometres from Ashuganj and it will be economically viable to send Indian goods through this route.
Edible oil, bitumen, cement, rice, bags and other bulk cargoes are likely to send to Tripura at the initial stage, but when the Ashuganj river port will be developed it is expected that millions of tonnes of cargoes will be transshipped, Mr Monowar said.
The shipping ministry has already formulated a Tk 2.5 billion project to develop Ashuganj with modern equipment to handle the Indian cargoes and it is expected to be completed in 2013
NBR starts collecting transit fees on Indian cargoes
The National Board of Revenue (NBR) has started collecting transit fees on Indian cargoes shipped from Kolkata to Tripura using Bangladesh waterways.
The government has already issued a statutory regulatory order slapping transshipment/transit fees for per TEU container at Tk 10,000 while for bulk product without container Tk 1000 per tonne effective from July 1.
"It is a good sign that the Indians have started paying the transit fees as they are using our infrastructure and territory," said a Bangladesh Inland Water Transport Authority official.
Under the Protocol on Inland Water Transit and Trade signed in 1972, Indian cargoes are allowed to transport from Kolkata to Tripura through Bangladesh waterways, but this the first time they are paying fee, he said.
BIWTA, after getting proper transit payment receipt from the NBR, allows water vessels carrying Indian goods to move through Bangladesh territory, he explained.
In the last two months Indian traders paid transit fees on about 600 tonnes of bulk cargoes, the BIWTA official said.
"The amount will rise significantly when Ashuganj river port will be modernised for handling container cargoes," he said.
Meanwhile, the Inland Water Authority of India (IWAI) has sent a letter to its local counterpart to waive the transit fee on commercial cargoes, said another official of the BIWTA.
"We have no authority to take decision on the issue and we refer the letter to the shipping ministry to take necessary action," he said.
Earlier, India has sought tax waiver for transportation of over-dimensional consignments (ODC) using transit facilities of Bangladesh through Asuganj.
Indian High Commission in Bangladesh recently sent a letter to the ministry of foreign affairs for taking necessary measure and conveying its content to other ministries for helping transportation of ODCs for Palatana project in Tripura.
But the government is reluctant to waive the transit and transshipment fee.
Meanwhile, New Delhi has sent a proposal to allow its cargo to ship to Indian Northeastern states through Ashuganj river port immediately.
"We have received the Indian proposal to transship bulk cargoes through Ashuganj under head-load system but it is only possible after finalisation of operational modalities," BIWTA secretary Syed Monowar Hussain said.
At present, Ashuganj can handle only headload cargoes but a project has been undertaken to make it a developed mechanised port, he said.
Some of the major issues of the operational modalities are freight rate between Kolkata to Ashuganj, responsibilities of all the stakeholders and how customs service will be provided, Mr Monowar said.
"Another important aspect is to build bonded warehouse at the Ashuganj as cargoes will be moved from vessel to truck at the river port," he added.
Tripura border is only 49 kilometres from Ashuganj and it will be economically viable to send Indian goods through this route.
Edible oil, bitumen, cement, rice, bags and other bulk cargoes are likely to send to Tripura at the initial stage, but when the Ashuganj river port will be developed it is expected that millions of tonnes of cargoes will be transshipped, Mr Monowar said.
The shipping ministry has already formulated a Tk 2.5 billion project to develop Ashuganj with modern equipment to handle the Indian cargoes and it is expected to be completed in 2013
NBR starts collecting transit fees on Indian cargoes
Rather than going through foreign ministry, Indian HC now direct Bangladesh ministries directly. Bangladeshi ministries now operate under indian HC thumb. And offcourse Iajdani and gang take pleasure out of submission, deception and of $8571 dollars earned in two months from indian transit.
What a pathetic joke.
What a pathetic joke.
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India had been transporting those goods since 1978 under the agreement with your God Father General Zia and never paid a dime for it. Now they paid $8571 in two months which could run 2 schools for two months in Bangladesh. How much tax did you pay last year?
India had been transporting those goods since 1978 under the agreement with your God Father General Zia and never paid a dime for it. Now they paid $8571 in two months which could run 2 schools for two months in Bangladesh. How much tax did you pay last year?
Treaty was signed in 1972 by Awami govt headed by Sheikh Mujib and india has been carrying goods since then.
Here is the line exposing your shame less lie and decption:
"Under the Protocol on Inland Water Transit and Trade signed in 1972, Indian cargoes are allowed to transport from Kolkata to Tripura through Bangladesh waterways, but this the first time they are paying fee, he said."
http://www.thefinancialexpress-bd.com/more.php?news_id=110083&date=2010-08-25
Awami stooges gave it india for free. Then it was only to tranport through river but this Awami stooge regime gave land transit as well using Bangladesh money to serve india. Moreover Awami stooges and looters told country about billion dollars income from transit and they are earning 8 thousand dollars in two months. Needless to say your indian dalali surpass even indian themselves.
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No sir, It was Ziaur Rahman who renewed this deal as well as signed additional transit deal with India.
And you did not answer how much tax you paid last year????
Once more your desperate atempt to defelct indian dalali to someone who only renewed treaty is just laughable. !972 treaty was renewed every two years by every govt in power and had litt;le significance as indian did not use it much. Just because Hasina can tell lie and indian dalal like yourself can match her hukka hua does not mean that propaganda can stick.
Awami stooge regime of Hasian allowed land transit and start looting Bangladesh tax payer money to indian transit.
And where is the 1 billion dollars transit fee per year??????
My tax is not question here but I can assure you amount of tax I have paid much more than Hasina paid herself.
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Mongla gets cargo-handling equipment
Quazi Amanullah, Khulna
Mongla Port Authority has sped up efforts to procure cargo-handling equipment, a top official of MPA said yesterday.
Engineer Md Mahabubur Rahman, in charge of the mechanical and electrical department of MPA, said the Tk 23 crore procurement project is a component of a comprehensive port modernisation programme.
Early this year, the government allocated around Tk 22.97 crore for implementation of the project particularly to gear up container handling and unloading work at the port within the quickest possible time.
According to Rahman, also director of the project, MPA has already imported two most modern straddle carriers worth Tk 12 crore from Noel Mobile Systems Company of Germany.
The straddle carriers -- each capable of handling a container weighing up to 40 tonnes at a time -- reached the port on August 1.
Installation of the carriers will be complete by next week as five German engineers and technicians have been working for the purpose round-the-clock, Rahman said.
A German team is providing a month-long training for 30 technicians of the port in the operation of the state-of-the-art straddle carriers.
Once installed, the straddle carriers will be able to handle over 2,000 containers in 24 hours' time, paving the way for unloading goods within the quickest possible time, Rahman said.
MPA has also purchased two TM (tug master) forklift trucks from Singapore, two more high powered forklift trucks and four low-mast forklift trucks from India, which are likely to reach Mongla today, Rahman added.
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Mongla gets cargo-handling equipment
Quazi Amanullah, Khulna
Mongla Port Authority has sped up efforts to procure cargo-handling equipment, a top official of MPA said yesterday.
Engineer Md Mahabubur Rahman, in charge of the mechanical and electrical department of MPA, said the Tk 23 crore procurement project is a component of a comprehensive port modernisation programme.
Early this year, the government allocated around Tk 22.97 crore for implementation of the project particularly to gear up container handling and unloading work at the port within the quickest possible time.
According to Rahman, also director of the project, MPA has already imported two most modern straddle carriers worth Tk 12 crore from Noel Mobile Systems Company of Germany.
The straddle carriers -- each capable of handling a container weighing up to 40 tonnes at a time -- reached the port on August 1.
Installation of the carriers will be complete by next week as five German engineers and technicians have been working for the purpose round-the-clock, Rahman said.
A German team is providing a month-long training for 30 technicians of the port in the operation of the state-of-the-art straddle carriers.
Once installed, the straddle carriers will be able to handle over 2,000 containers in 24 hours' time, paving the way for unloading goods within the quickest possible time, Rahman said.
MPA has also purchased two TM (tug master) forklift trucks from Singapore, two more high powered forklift trucks and four low-mast forklift trucks from India, which are likely to reach Mongla today, Rahman added.
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Mongla gets cargo-handling equipment
fallstuff
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Great leap for garment exports to China?
Garment exports to China -- which soared in the last fiscal year -- may grow even faster as the world's largest apparel supplier starts allowing duty-free access to Bangladesh in July. China recently began to shift its manufacturing focus to hi-end apparel items, and other industries. Basic garment factories are retooling or shutting down due to shortages of low-wage workers, rising production costs and labour unrest, said exporters.
Primary data from the state-run Export Promotion Bureau (EPB) showed that Bangladesh exported knitwear products to China were worth $23.5 million in fiscal 2009-10 -- a whopping 148 percent jump -- in the 12 months ending June 30, 2010. KI Hossain, owner of a local buying house, said he expects garment exports to China to jump even more after July 1, when the Chinese government started allowing duty-free access to Bangladesh. Granted, last year's growth was on a small base -- less than 1 percent of total RMG exports. "Until now, we did not export apparel items in bulk amount to China," Hossain said.
China now provides zero-tariff treatment to 4,762 Bangladeshi product categories. China will also phase-in the zero-tariff for 95 percent of the remaining product types exported to China. By the end of this calendar year, 60 percent of the products enjoy zero-tariff treatment, the Chinese embassy in Dhaka confirmed to the commerce ministry on July 4. But Bangladesh will have competitors in trying to clothe the world's most populous country.
China will also be open duty-free to Afghanistan, Nepal, Ethiopia, Kenya, Liberia, Mali, Madagascar, and the Democratic Republic of Congo, Burundi, Malawi, Mozambique, Benin, Togo, Uganda, Zambia and four other nations. Bangladesh exported apparel, accessories, knit, crochet and non-knit worth $19 million and other textile items, sets, worn clothing of $3.6 million in 2009-10, according to the EPB data. But exports of woven garments declined to $4.1 million in 2008-09 from $6.6 million a year ago."
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Great leap for garment exports to China?
Garment exports to China -- which soared in the last fiscal year -- may grow even faster as the world's largest apparel supplier starts allowing duty-free access to Bangladesh in July. China recently began to shift its manufacturing focus to hi-end apparel items, and other industries. Basic garment factories are retooling or shutting down due to shortages of low-wage workers, rising production costs and labour unrest, said exporters.
Primary data from the state-run Export Promotion Bureau (EPB) showed that Bangladesh exported knitwear products to China were worth $23.5 million in fiscal 2009-10 -- a whopping 148 percent jump -- in the 12 months ending June 30, 2010. KI Hossain, owner of a local buying house, said he expects garment exports to China to jump even more after July 1, when the Chinese government started allowing duty-free access to Bangladesh. Granted, last year's growth was on a small base -- less than 1 percent of total RMG exports. "Until now, we did not export apparel items in bulk amount to China," Hossain said.
China now provides zero-tariff treatment to 4,762 Bangladeshi product categories. China will also phase-in the zero-tariff for 95 percent of the remaining product types exported to China. By the end of this calendar year, 60 percent of the products enjoy zero-tariff treatment, the Chinese embassy in Dhaka confirmed to the commerce ministry on July 4. But Bangladesh will have competitors in trying to clothe the world's most populous country.
China will also be open duty-free to Afghanistan, Nepal, Ethiopia, Kenya, Liberia, Mali, Madagascar, and the Democratic Republic of Congo, Burundi, Malawi, Mozambique, Benin, Togo, Uganda, Zambia and four other nations. Bangladesh exported apparel, accessories, knit, crochet and non-knit worth $19 million and other textile items, sets, worn clothing of $3.6 million in 2009-10, according to the EPB data. But exports of woven garments declined to $4.1 million in 2008-09 from $6.6 million a year ago."
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Great leap for garment exports to China?
