Source : www.thedailystar.net   THE BNP’s national council, to be held after nearly 16 years, has generated much interest among both party loyalists and citizen groups. Within the party, this interest is manifested in competition, often violent, for holding higher positions and influence.

The in-fighting is due to competing individual interests among the party activists. In today’s Bangladesh, the primary reason for joining and being active in political parties is the receipt of patronage. It is now well known that the party in power, or coming into power, will reward its followers with benefits, both due and undue.

Key officeholders get even more benefits. With the possibilities of such payoffs in play, it is natural that self-interested people should join major parties and resort to any means, including violence, to achieve prominence. This is what has been happening within both the Awami League and the BNP.

The violent conflict within the BNP rank and file is undoubtedly scandalous. However, it is perhaps even more scandalous for the party higher-ups to deny the problem and shift the blame to the government. With so many legitimate grounds to criticise the government, it is ironic that BNP chooses to invent such disingenuous charges. This is an ugly, all-too-blatant, manifestation of our bankrupt politics.

Such a blame-game must end. The first step towards solving the problem is to recognise its existence. However, by refusing to admit that it has serious conflicts within the party, BNP is sidestepping the need to resolve the issue. Unfortunately, avoiding an issue, as everyone knows, does not make it go away; it only allows it to become bigger and more serious in the future.

It is also well known that nowadays people rarely join our major political parties out of an attraction to their ideology or programs. They do so primarily to get a share of the pie. In fact, politics over the years has become a very profitable “business” — a shameless get-rich-quick scheme. Slogans and symbolism, rather than ideology and principles, have now become the main tools of its trade. Thus, the principal purpose of the competition and conflict within major political parties is for aspirants to get as close as possible to the all-powerful leaders at the top.

Such closeness proportionally increases the opportunity and amount of patronage and favour.

It is no wonder, then, that so much jockeying and manipulation are the order of the day.

In contrast, citizens like us are interested in BNP’s convention for very different reasons. We want to see BNP learn from its past painful experiences and stay clear of the excesses and wrongdoings that led it into trouble. We want them to start practicing democracy, transparency and accountability within the party hierarchy — not only for their own sake, but also for the sake of the nation. We also hope that they will free the party from the clutches of selfishness, corruption and dynastic politics.

As citizens, we want BNP to comply with the Representation of the People Order (Amendment) Act, 2009, passed in the first session of the 9th Parliament, especially the conditions for registration of political parties. Section 90B of the amended RPO contains the conditions for such registration, the most important of which are: 90 (1) (b) “[...] political party desiring to be registered with the Commission, shall have the following specific provisions in its constitution, namely:

-To elect the members of the committees at all levels, including members of the central committee;

-To fix the goal of reserving at least 33% of all committee positions for women, including the central committee, and achieving this goal by the year 2020;

-To prohibit formation of any organisation or body as its affiliated or associated body consisting of the teachers or students of any educational institution or the employees or labourers of any financial, commercial or industrial institution or establishment, or the members of any other profession: Provided that nothing shall prevent them from organising independently in their respective fields or forming an association, society, trade union etc. and exercising all democratic and political rights, and individual, subject to the provisions of the existing laws, to be a member of any political party;

-To finalise nomination of candidates by the central parliamentary board of the party in consideration of panels prepared by members of the ward, union, thana, upazila or district committee, as the case may be, of the concerned constituency.”

Section 90C of the RPO also provides: 90 C (I) “A political party shall not be qualified for registration under this Chapter, if … (e) there is any provision in its constitution for the establishment or operation of any office, branch or committee outside the territory of Bangladesh.”

That is, the law mandates the practice of democracy within the party rank and file. It is also illegal to have affiliated and associated organisations of the party. In addition, it would be a violation of the law to have any branch or office of the party outside Bangladesh. It is important to note that the mere inclusion of these provisions in the party constitution is not enough — they must be put to practice. The unfortunate truth is that foreign branches of political parties often take intra-party conflicts outside the country, badly tarnishing the image of Bangladesh.

It may be pointed out that the Awami League and Jatiya Party did not fully comply with these provisions of the RPO. Their committees were not elected; Awami League also played a very unfortunate game by designating its affiliated bodies as associated organisations, although both are illegal.Their foreign branches also still exist.

Will BNP be able to rise above this culture of non-compliance? It goes without saying that unless laws are implemented, we will not have the rule of law. Without rule of law, the rule of jungle prevails — thus the strong prey on the weak, the rich on the poor, and the powerful on the disenfranchised. Such conditions eat away at the vitality of a nation, pushing it into a state of dysfunction.

It may be noted that, while adopting the RPO framed during the caretaker government, the 9th Parliament ratified the conditions of registration of political parties under the Election Commission, but removed the EC’s authority to deregister parties for non-compliance.

By doing so, Parliament has made compliance with the conditions for registrations discretionary rather than mandatory and, in the process, has clipped the authority of the EC, turning it into a paper tiger. Note further that, during the caretaker government, the registration conditions were hammered out through many consultations between the EC and the political parties — they were not unilaterally imposed by the EC.

According to media reports, the BNP chairperson may designate the future leadership, rather than the leadership being elected by the councilors — which would be a violation of the law and thus totally unacceptable. Rumours also abound that BNP will amend its constitution, more or less keeping the chairperson’s power intact — now BNP chairperson has almost absolute power and she can do and undo anything — which will also be contrary to democratic norms.

It is clear from our past experience that, given the opportunity, power tends to concentrate, with unfettered power leading to undesirable outcomes. Such outcomes may not only be a bad omen for the party, but for the country as well.

To conclude, politicians often complain that what they do is their own business; why should some citizens be concerned about it? They infer that politics is for politicians and others should not poke their noses into it. It is obvious, however, that citizens cannot keep mum.

Political parties are not private clubs; they are constitutionally recognised entities, the effectiveness of which primarily determines whether democracy succeeds in Bangladesh. If political parties are not democratic and they are not transparent, accountable and are committed to the people’s welfare, it is unrealistic to expect good and democratic governance in the country.

Furthermore, even private clubs cannot do anything they like; they must comply with prevailing laws and cannot act against public interest. Thus, the behaviour of political parties and the public welfare are inextricably tied together — for the consequences of the irresponsibility of political parties will have to be borne not by the parties alone, but by all citizens of Bangladesh.

Bangladesh Sugar & Food Industries Corp., a state-owned producer, plans to import 150,000 metric tons of white sugar this year to meet a shortfall in domestic supplies, a company official said.

The company will buy 25,000 tons in a tender that closes Aug. 22 and will seek bids for a similar quantity in a month’s time, Parimal Chandra Saha, director marketing, said in a phone interview from Dhaka today.

Bangladesh joins Pakistan in seeking imported sugar, adding to worldwide demand that’s forecast by the International Sugar Organization to exceed output by 9.35 million tons in the year to Sept. 30. Excessive rain delayed the harvest in Brazil, the top producer, and dry weather limited production in India, the second-biggest. Sugar has almost doubled this year in New York.

“The shortage is likely to persist even next year as cane will be in short supply,” Saha said. “Private traders will also be importing raw sugar to meet the deficit.”

India may need to import at least 5 million tons in the year starting Oct. 1, double this year’s figure, according to Maharashtra State Cooperative Sugar Factories Federation Ltd., a grouping of producers. Neighbor Pakistan, Asia’s third-largest user, needs as much as 1 million tons by December, a trade body said yesterday. The nation plans to buy 375,000 tons currently.

Bangladesh last week ended a tax on imports of raw sugar and more than halved the duty on refined sugar import to boost supply after output more than halved to 80,000 tons in the year ended June. Production this year may rebound to 101,000 tons and won’t return to the normal level of 145,000 tons because of a decline in the crop area, Saha said.

The country consumes 1.2 million-to-1.4 million tons a year and produces 146,000 tons. It imports white sugar from countries including Brazil and Thailand to bridge the deficit, Saha said

The Daily Star
Monday, August 3, 2009

Management and Resources Development Initiative (MRDI) started a weeklong residential training of trainers on business journalism in Savar yesterday, with support from Katalyst.

The training pulled in journalists from selected media houses to create a pool of trainers to run on-the-job and formal trainings in business journalism, according to a press release.

The future trainers will be imparted practical knowledge to train others on stock market reports, accountancy skills for better financial reporting, financial statement analysis, and research for business and SME reports, MRDI said.

The journalists will later act as in-house trainers and contribute to long-term capacity development of the respective media houses, MRDI said.

During the course, a business journalism training template will be developed for individual media houses, which the media, both print and electronic, will use for their own capacity building programmes.

After assessing the training needs of the media houses, two training modules have been developed for the course by a team of experts comprising Moazzem Hossain, editor of The Financial Express, Farid Hossain, bureau chief of The Associated Press (AP), Martin Mulligan, senior sub-editor and writer for The Financial Times, UK, and Robert Powell, financial journalist of BBC.

Apart from the international experts, local resource persons including renowned journalists, academics, economists and researchers are conducting the course.

Fifteen journalists, mostly “gatekeepers,” from print and electronic media houses are participating in the training, facilitated by Farid Hossain from AP

Bangladesh, The contry is Working to overcome the Challenges of Various Sectors 

THE DAILY STAR

— The parliamentary delegation for visiting Tipaimukh dam site in India will leave Dhaka on July 29 to make a preliminary assessment of the impacts the proposed dam may have on Bangladesh.

— Awami League lawmaker Tanjim Ahmad Sohel Taj yesterday said he stood down as the state minister for home affairs on May 31 so that his dignity and principles could survive intact.

THE FINANCIAL EXPRESS

— The central bank would maintain easy credit conditions in the FY10 and closely watch “market behaviour” of banks, as it moves to boost investment to offset impact of global recession on the economy, its governor said Sunday.

— The government Sunday sought US$1.15 billion in aid from donor countries and development lenders to rehabilitate one million families affected by Cyclone Aila that hit the country in May.

THE INDEPENDENT

— Tanjim Ahmed Sohel Taj, absentee minister of state for home affairs yesterday set at rest all speculations about his political career by claiming that he personally handed over his resignation letter to the prime minister on May 31 and therefore was no longer a minister of the government

— Outlining the stance on its first half of the current fiscal year, Bangladesh Bank (BB) yesterday announced its latest Monetary Policy Statement (MPS) which is designed to accommodate 6 percent real GDP growth, with inflation projected at 6.5 percent by June 2010.

THE NEW AGE

— There has been a draught-like-situation across much of the country because of lower than usual rainfall in this peak rainy season, posing a serious threat to Aman cultivation, according to a government report.

— The main opposition in the parliament, Bangladesh Nationalist Party, on Sunday submitted an application to the Election Commission seeking time up to 31 January, 2010 for submitting the party constitution after ratification by its council session.

($1=69.06 taka)

The interest rate on Bangladesh Government Treasury Bonds (BGTB) dropped further on Tuesday, as commercial banks rushed to offer bids in the auction, treasury officials said.

The yield, generally known as coupon interest rate, on 10-year BGTB fell to 9.45 percent on the day from 10.05 percent of the previous auction, held on June 2, 2009.

“Auction of 10-year BGTB was held on Tuesday of which 26 bids amounting to total of US$273 million (BDT 18.842 billion) were offered. Of those, 10 bids amounting to total of $65 million (BDT 4.50 billion) were accepted,” the Bangladesh Bank (BB) said in a press statement.

Besides, the yield on 10-year BGTB came down to 10.23 percent on May 5 this year from 11.68 percent of the previous auction, held on April 7, 2009, the BB’s data showed.

“Most of the commercial banks have quoted lower interest rates to invest their excess liquidity in the risk-free government-approved securities to minimize cost of funds,” a senior treasury official of a private commercial bank told AHN in Dhaka, preferring anonymity.

The overall excess liquidity with the commercial banks stood at $3.93 billion (BDT 270 billion) in April this year, representing a 25 per cent growth over that in February last, according to the central bank of Bangladesh.

The amount of excess liquidity was $3.11 billion (BDT 215 billion) and $ 3.43 billion (BDT 237 billion) in February and March 2009 respectively, the BB data showed.

The treasury official also said the demand for such securities has sharply risen mainly due to lower interest rates on call money in the inter-bank market.

The call rate ranged between 0.10 per cent and 10.00 per cent on the day unchanged from the previous level. But most of the deals were made at rates between 0.10 per cent and 0.15 per cent on the day, market operators said.

Currently, three Treasury Bills (T-bills) are being transacted through auctions to adjust the government borrowings from the banking system.

The T-bills have 91-day, 182-day and 364-day maturity periods.

On the other hand, four government bonds – 5-year, 10-year, 15-year and 20-year -are being traded in the markets

Bangladesh and China is long time examined friend contry.China is ready to work with Bangladesh to further promote the bilateral relations of friendship and cooperation in all fields, Chinese Foreign Minister Yang Jiechi said here on Thursday.

    Yang made the statement as he was meeting with Bangladeshi Foreign Minister Dipu Moni on the sidelines of the high-level UN conference on the world financial and economic crisis and its impact on development, which opened here on Wednesday and is to end on Friday.

During the meeting, Yang told his Bangladeshis counterpart that China and Bangladesh are friendly and close neighbors, the Chinese government attaches great importance to the Sino-Bangladeshi relations, and it is China’s adamantine policy to strengthen and develop the relations of friendship and cooperation with Bangladesh.

    China is willing to work with Bangladesh to further expand the bilateral cooperation in political, economic and trade, agricultural and cultural fields, the Chinese foreign minister said.

    In return, Moni said that Bangladesh and China enjoyed relations of friendship and cooperation for a long time, and Bangladeshi sees China as its close friend and cooperation partner.

    Bangladesh and China have frequent exchanges at all levels, and the bilateral cooperation has made great achievements, she said, adding that her country will work with China to promote the bilateral ties to a new level.

Bangladesh is now trying to establish itself as the next rising star in South Asia for foreign investment. The government has implemented a number of policy reforms designed to create a more open and competitive climate for private investment, both foreign and local.

The country has a genuinely democratic system of government and enjoys political stability seen as a sine qua non for ensuring a favorable climate for investment and sustained development.

Bangladesh has been quick to undertake major restructuring for establishing a market economy, with the major thrust coming from the private sector. The country enjoys modest but steady economic growth. Its current development strategy is based on the premise that the creation and distribution of wealth occurs through the acceleration of growth driven by competitive market forces, with the government facilitating growth and making a clean break from the practices of a controlled economy where private investment is constrained. The government has been gradually withdrawing its involvement in this industrial and infrastructure sectors and promoting private sector participation.

The government has moved speedily to translate its policy pronouncements into specific reforms. It has been consistently pursuing an open-door investment policy and playing a catalytic rather than a regulatory role.

Regulatory controls and constrains have been reduced to a minimum. The government has steadily liberalized its trade regime. Significant progress has been achieved in reducing non-tariff restrictions on trade, rationalizing tariff rates and improving export incentives. The introduction of VAT has helped rationalization of the import tariff and domestic tax structures. The tariff structure and the import policy are kept under constant review to identify areas where further improvements are called for.

Motivated by the simple realization that state-owned enterprises are a drain on its scarce resources and that these are generally inefficient, very costly and slow in responding to changing markets and consumer desires, the country has embarked on a privatization program, offering substantial opportunities for international investors.

Foreign investment is particularly welcome in the export-oriented industries such as textiles, leather goods, electronic products and components, chemicals and petrochemicals, agro-based industries, green jute pulp, paper, rayon products, frozen foods (dominated by shrimp farming), tourism, agriculture, light industries, software and data processing.

Foreign investment is also desired in high technology products that will help import substitution or industries that will be labor as well as technology intensive.

Some of the foreign private investment opportunities are:

The country’s drive for foreign investment is being spearheaded by the Board of Investment, which was created to facilitate the setting up of manufacturing and other industries in the private sector, both local and foreign. It is a promotional organization dedicated towards providing investment assistance to all investors.

The Board is headed by the country’s Prime Minister and it includes Ministers and Secretaries from the concerned ministries as well as representatives from the private sector.
The Board has launched an investment promotion drive at home and abroad to attract investors. The BOI has been assisting in the implementation of new projects as well as providing services.

In order to stimulate rapid economic growth of the country, particularly through industrialization, the government has adopted an ‘Open Door Policy’ to attract foreign investment to Bangladesh. The Bangladesh Export Processing Zones Authority (BEPZA) is the official organ of the government to promote, attract and facilitate foreign investment in the Export Processing Zones.

Bangladesh is on the verge of a significant breakthrough in terms both of international investor confidence and significant inflow of new investment funds.

Board of Investment (BOI)

Focal Points of BOI

Foreign Investment Statistics

Investor Registration with BOI

Bangladesh Export Processing Zones Authority (BEPZA)

Incentives and Facilities of EPZ

Registrar of Joint Stock Companies and Firms

Privatization Commission

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI)

Karnaphuli EPZ

Investment Consultantncy :  explore@explorexdark.com

Determining the economy growth govt innitiating to develop SME .

The government considers a further cut in bank interest rates, especially for small and medium enterprises (SMEs) to help the sector grow faster, said the commerce minister yesterday.

“We have already brought down the interest rate to support the country’s entrepreneurs. We are considering reducing the rate further to help different sectors, especially the SMEs, grow faster,” said Faruk Khan.

“The government is also considering a special package for the SME sector in the next budget for fiscal 2009-10,” he added.

He was speaking at the inaugural ceremony of the fourth SME fair organised by the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) at Bangladesh-China Friendship Conference Centre in Dhaka.

The government fixed the ceiling of the bank interest rate at up to 13 percent in April.

“We are hopeful of reducing the rate soon. We are discussing the rate cut at several levels in the government to help new entrepreneurs source capital at a lower interest rate and start a new venture,” the minister added.

He said the government is working to ensure capital sourcing at lower interest rate for SME sector and help improve its infrastructure further.

“We have to develop our local industries and boost domestic economy to fight the affects of the global financial meltdown. So, developing sectors including SME are very important to us,” he added.

“The government is prioritising the SME sector in the industrial policy that we are framing now. Simultaneously, we will take necessary measures to ensure market for locally produced goods,” said Khan.

He said the SME sector plays an important role in export and employment generation, as the country’s 98 percent enterprises fall in SME category, and so the government is giving an extra attention to the sector.

FBCCI President Annisul Huq urged the government to implement the federation proposals through the upcoming budget.

“We want to see the implementation of our proposals in the budget. Increasing number of loan defaulters indicates that the impact of global financial meltdown has already started hitting Bangladesh. So, the budget should have a specific solution to this,” he said.

Huq said the government should pay special attention to the SME sector, as it is the key component of vibrant economy of the country.

The FBCCI chief said the government should give necessary support for the growth of internal economy and the budget should have a reflection of “our proposals.”

“We’re going through a tough time because of global recession,” he said, urging the government to cut duty on import of raw materials for the SME sector.

“The sector has a great potential and the government needs to nourish it further,” he said.

“Although the local entrepreneurs have the ability to produce international standard products, they fail to introduce their products to domestic and global markets due to absence of proper campaign,” said the FBCCI chief.

“A lack of funding, high interest rate, erratic power supply and unavailability of raw materials hold back the growth of the sector,” he added.

He also identified reluctance of the private banks to give loans to SMEs as a major barrier to flourishing the sector.

A total of 86 local companies are displaying their products at 108 stalls at the four-day show that will remain open to visitors from 10am to 8pm with a Tk 10 entry fee.

The products on display include textile, frozen foods, leather and leather goods, plastic products, surgical equipment, medical machinery, sanitary products, agro-based machinery, bicycle, ceramic and melamine products, software, cosmetics, furniture and jewellery.

Khalil Bin Abdullah Bin Mohammad Al-Khonji, chairman of Oman Chamber of Commerce and Industry, and Abul Kashem Ahmed, first vice president of FBCCI, were also present at the ceremony.