Bangladesh Economy: News & Updates

[TopCat]

I wonder if India has surplus natural gas.

It is good that BD will import from Myanmar, Malaysia and Indonesia.

Tata Steel is the second largest steel producer in Europe with a well diversified presence across the continent.

Surprising that they are not importing this steel from Europe to India.

If Tata produces steel in India will they be paying the taxes, revenue and profits to the Indian Govt? Funny isn't it that one expects that this will happen? It has happened no where in the world, but Bangladeshis like Eastwatch feels it will!

No employment for Bangladeshi either?

Great confidence Eastwatch shows in his own country.

But since it will be the first time in history such a stupidity will be happening, as imagined by confidence lacking individuals, they can at least take heart - it will be in the Guinness Book of World Record at least!!

TATAs investment was vehemently opposed by local steel maker. Their point was that they will make similar amount of investment if were granted the same cocession that were offered to TATA. After TATA's withdraws three companies joined togethere and made 2000 Cr. investment in steel.

Now its your call.

 

[TopCat]

There was another concern to TATAs investment proposal where our then Finance minister was worried. Every penny in that proposal would had come from foreign financial institutes (non indian) as loan. Now when you payback the loans then there will be a huge pressure in our Current Account Balance as well as govt not to get any taxes as the company will keep on paying the loans for years to come.

 

[eastwatch]

You continuously brag about something which you cannot support with logic. Do you really want to know why do I oppose TATA's steel and Urea fertilizer plants in Bangladesh? If so, say yes and I will explain. But, do not come then with your circular logic.

Apart from what integra and iajdani wrote, I must add a few words about a TATA Fertilizer Factory. TATA wants to burn our natural gas and produce urea, only to be taken to India. India steals our gas in this way. But, do you know what the raw material for urea is?

Bangladesh Chemical Industries Corporation (BCCI) has already floated tender to build another of its own fertilizer factory in Fenchuganj of Sylhet. Its capacity is 330,000 t/year and is financed by the Chinese government. So, we do not need TATA. It wants to steal our gas.

You see, no one here will say a single word of criticism if it is Chinese loan, and no Chinese in this forum will come with childish comments like 'We are developing BD.' But, now think of you people's behaviour when India announced a force-fed $1 billion CREDIT to sell India's 3rd class goods and services.

You guys started shouting BD is developing because of your stupid loan. But, is it a loan or a CREDIT? As far as I know, BD govt has not yet decided to accept the CREDIT bait from India. You have to understand that Indian approach towards BD has been totally wrong from the beginning. Even our Hindus dislike India and criticize AL.

 

[eastwatch]

Tk 1 lakh 60 thousand crore budget planned
Friday, 20 May 2011
Author / Source : STAFF CORRESPONDENT

SYLHET, May 19: The size of the ensuing budget for the 2011-12 fiscal will be around Tk 1 lakh 60 thousand crore, Finance Minister AMA Muhith disclosed this on Thursday. The size of the current budget is Tk 1 lakh 32thousand crore.

The size of the annual development programme (ADP) would be within the range between Tk 45 to 48 thousand crore, finance minister said while talking to reporters in Sylhet.

He said that the GDP growth rate for the next fiscal would be estimated at not less than 7 per cent.

The minister said that agriculture, education, power, infrastructure development and social security would be given top priority in the ensuing budget which would incorporate a string of measures to promote investment. The minister, however, admitted that though the revenue mobilisation was satisfactory, the investment was not up to the mark.

About arresting the price hike of the essential commodities, the minister said that there would be steps in the budget for keeping the prices in tolerable limit but he noted that in the recent years the purchasing power of the people was increased significantly.

Underscoring the need for attracting more foreign investment, he said that this would be a priority in the wake of slow growth of local investment.

Muhith said that since the country had successfully addressed the challenge of the global recession, the ensuing budget would be a balanced one.

He also reiterated that the tax holiday system would be extended for another two years in the budget and this would be the last of such extension.

 

[eastwatch]

The planned budget of 1 lakh 60 thousand Taka means about $21.6 billion. It is about 18% of GDP of Bangldesh, which will stand at about $120 billion at the end of this fiscal in June, 2011. As a percentage of GDP it is really big. AL is basically a big spender. I do not think the collection of revenue will match the expenditures. So, the govt will have to borrow money from local Banks as well as from other international lending agencies.

 

[TopCat]

Planning commission increased ADP size to 67000 crore from 47000 previously proposed. This will make invesment/gdp ratio to 27% a must for 7% and more growth rate. we need at least 30% of the GDP invested (ADP + Private sector investment) for 8% growth rate. Govt is right on track to take BD to 8% growth trajectory by 2013.

 

[integra]

Man who gave $130mn for Sidr victims unnamed

Dhaka, May 24 ((bdnews24.com)—The Islamic Development Bank (IDB) president has refused to name the philanthropist who donated $130 million for providing assistance to victims of cyclone Sidr.

"He does not want to disclose his name and we should respect his wish," said president Ahmad Mohammed Ali at a press briefing at the IDB Bhaban in the city on Tuesday.

With the money of the anonymous philanthropist (Fael Khair in Arabic) IDB has undertaken two projects—$110 million for Fael Khair school-cum-cyclone-shelters building project and $20 million for rehabilitation of cyclone Sidr-affected people, Ali said.

Ali said the Fael Khair project would be done in a transparent manner and IDB would pay directly to contractors and consultants.

The government has assured IDB that it would provide all necessary assistance to implement the programme.

Under the Fael Khair project, Abdul Monem Ltd and DCL-PCCL will build shelter buildings in Khulna, Satkhira, Bagerhat, Barisal and Patuakhali districts.

They signed the agreement on Tuesday at Sonargaon Hotel in presence of the IDB president.

"We have just raised $750 million from the market and it will be spent on different projects in the member countries," said the president.

 

[integra]

Marketing guru creates buzz in city
Marketing guru Philip Kotler yesterday shared his marketing insight with the students, academicians and government officials in Dhaka.

Kotler, who arrived in Dhaka on Tuesday on a three-day visit, talked about modern thoughts of marketing and its importance in a couple of sessions, exclusively designed for young marketers, faculties and government officials.

He at first met with young marketers to discuss modern thoughts of marketing and debate the marketing challenges faced by them at Mirpur Indoor Stadium.

During the one and a half hour session, he portrayed the significance of production, customer service and sales in maneuvering the marketing principles.

Kotler, a professor of international marketing at JL Kellogg Graduate School of Management of Northwestern University, is acclaimed for writing textbooks on marketing and broadening the idea of marketing.

He suggested providing a positive experience to customers because it is an essential tool in constructing affection towards the brand or in other words, becoming the fan of a brand.

For example, Volvo is not only a product but also portrays the experience of using the product, he said.

Later Kotler had an exclusive session with advisers, lawmakers, bureaucrats and other dignitaries at the Prime Minister's Office to discuss public service marketing.

The session focused on the magnitude of public service marketing and the positive impact it can bring to different government institutions through better efficiency and better delivery of service.

Kotler also met with academicians in the field of management and marketing at the Senate Bhaban of Dhaka University.

Both public and private university academicians took part in the session where Kotler revealed his insights on the changing world context and how faculties should prepare the future business minds.

Kotler, an icon in the academic arena for popularising a groundbreaking theory of marketing -- the Four Ps (Product, Price, Place, and Promotion) -- also announced the launch of his textbook 'Principles of Marketing' in Bangla.

 

[mil-avia]

Bangladesh youth drive outsourcing

 

[kak1978]

Apart from what integra and iajdani wrote, I must add a few words about a TATA Fertilizer Factory. TATA wants to burn our natural gas and produce urea, only to be taken to India. India steals our gas in this way. But, do you know what the raw material for urea is?

Bangladesh Chemical Industries Corporation (BCCI) has already floated tender to build another of its own fertilizer factory in Fenchuganj of Sylhet. Its capacity is 330,000 t/year and is financed by the Chinese government. So, we do not need TATA. It wants to steal our gas.

You see, no one here will say a single word of criticism if it is Chinese loan, and no Chinese in this forum will come with childish comments like 'We are developing BD.' But, now think of you people's behaviour when India announced a force-fed $1 billion CREDIT to sell India's 3rd class goods and services.

You guys started shouting BD is developing because of your stupid loan. But, is it a loan or a CREDIT? As far as I know, BD govt has not yet decided to accept the CREDIT bait from India. You have to understand that Indian approach towards BD has been totally wrong from the beginning. Even our Hindus dislike India and criticize AL.

In this same thread on the previous page there has been news about a deal where India will supply electricity generated by NTPC from thermal power plant. So can we accuse Bangladesh of stealing our coal?

 

[Tiki Tam Tam]

TATAs investment was vehemently opposed by local steel maker. Their point was that they will make similar amount of investment if were granted the same cocession that were offered to TATA. After TATA's withdraws three companies joined togethere and made 2000 Cr. investment in steel.

Now its your call.

We are talking about making steel professionally of international standard sold all over the world and not Grameen Bank assisted village smelting plants.

 

[InFn-0]

We are talking about making steel professionally of international standard sold all over the world and not Grameen Bank assisted village smelting plants.

Abul Khair's new steel project is worth 1500 cr + ($200 million). That alone is as big as Tata's project. So much for village smelting plants.

After many challenges and years of experience ABUL KHAIR STEEL becomes a pioneer of steel products in Bangladesh. ABUL KHAIR STEEL is a trusted name in steel industry in Bangladesh. We are known for quality, excellence personalized customer support services. We have large base of satisfied customers in domestic and international market.

Now, we engaged in making high quality TMT Bar. It is one of the single largest most advanced steel industry in South Asia having production capacity of 10 lac ton in a year. ABUL KHAIR STEEL introduced the TMT technology for the 1st time in Bangladesh to fulfill the growing demand of high quality Bar. Quenching, tempering, chilling, slitting and natural cooling in TMT process produce TMT bar. The new product of ABUL KHAIR STEEL is known as AKS TMT 500W.

 

[Tiki Tam Tam]

Abul Khair's new steel project is worth 1500 cr + ($200 million). That alone is as big as Tata's project. So much for village smelting plants.

And the expertise?

 

[Tiki Tam Tam]

Editorial
Re-fixation of launch fares

Ensure efficient and secure service

Every instance of fuel price hike becomes an occasion for the launch owners and operators to demand upward revision of fares. Whether it is proportionate to the increase in cost of operation gets lost in the owners trying to exact maximum advantage from the situation. They reel off a whole series of cost increases like; increased salaries of workers and repairing costs of vessels as justification for their inflated demand.

They claim that there has been an increase of 150-200 percent in repairing costs while salaries of workers went up by 65-150 percent. These figures are seldom contested by the government so the owners get away with their demand and the government eventually settles for a particular notch.

Since there is no organization to represent the vessel users' viewpoint it is the government which is obliged to safeguard their interest. In principle, we are not opposed to fare hike per se if there is a rationale for it. But this must be linked to better services to the customers in terms of amenities, punctuality and above all passenger safety.

Let's not forget that launches are the bulk carriers of commuters. As such, efficient management of the services is of crucial importance. We have known launches to have had poor designs and having been constructed in a shoddy manner so that they meet with fatal accidents, not least by ignoring weather signals........

Re-fixation of launch fares

Launches are a lifeline to many areas of Bangladesh.

The launches should be riverworthy instead of old vessels run roughshod leading to devastating loss of life.

Efficiency and safety must be the rule.

There must also be a owners body that can ensure the viewpoint of owners so that a fair appraisal can be made by the Govt, keeping the travelling public's interest also in mind.

 

[damiendehorn]

And the expertise?

what are implying tiki? bangladeshis don't have the expertise to make quality steel or that only tata or indians have the knowhow?