Dhaka, Mar 20 (UNB) – Leaders of three of the most powerful business associations of the country—BGMEA, BTMA and BKMEA on Wednesday urged the government not to raise gas prices saying that they would have no option but to fold-up business if gas price is hiked unreasonably.
“How could we sustain our industries if gas price is hiked 132 percent as proposed by the gas distribution companies?” said Siddiqur Rahman, president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA), while reading out a joint statement of the three leading business bodies at a press conference.
He said the proposed gas price hike, if implemented, will have a big impact on the overall garment and textile sector as it will increase the overall cost by 5 percent.
He said gas is a primary fuel of many linkage facilities like boiler, washing and finishing machines.
“The gas price hike may cause a great disaster for the whole sector”, he said adding that the countries garment sector has been under a tremendous pressure following the labour wage increase against the backdrop of a competitive apparel price in the global market.
“Gas price hike will push up our production cost after which the other competing countries like Vietnam and Myanmar will snatch the market opportunity,” said the BGMEA president.
He termed the gas price hike a contradiction to the government’s commitment to offer job to at least one person from each family as the proposal will block the creation of new employment by disrupting industrialisation.
He said the Titas Gas was seeking the price hike to give 35 percent dividend to its shareholders.
“But it would not be wise to raise gas tariff considering the interests of a particular segment only,” he added.
Bangladesh Textile Mills Association (BTMA) president Mohammad Ali Khokon said, “If gas price is raised, the production cost of per kg of thread will go up by Tk 7.72 or 9 Cents in US currency while currently the local producers have to incur a loss of Tk 30 per kg of thread.”
“So, end of the day we have to count a loss of Tk 32.92 or US 39 cents in production of each kg of thread,” Khokon said.
He noted the export-oriented apparel sector is dependent on local textile sector for their primary sources of fabrics.
“So, if the textile sector gets affected by gas price hike, it will have multiple effects on the economy and a major shock will be felt by the banking sector as banks have a big financing of Tk 1.60 lakh crore in the sector,” he said.
He said the government has increased the gas price on six occasions while power tariff was increased by 400 percent.
Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) acting president Mansur Ahmed also addressed the press conference.
Dhaka, Mar 20 (UNB)— Huawei, one of the world’s leading ICT solutions providers, recently concluded its global flagship CSR programme ‘Seeds for the future’ for the fifth time in Bangladesh.
Ten students were picked through the selection rounds at five noted universities.
Students from Bangladesh University of Engineering and Technology, Dhaka University, Rajshahi University of Engineering and Technology, Khulna University of Engineering and Technology, and Chittagong University of Engineering and Technology covered the selection rounds.
Senior faculty of respective departments and an expert team from Huawei acted as jury.
The selected students will be taken to China for exclusive career oriented ICT training and cultural expedition on the second week of April for two weeks.
Starting in 2008, ‘Seeds for the Future’ has been implemented in 108 countries and international organisations, benefiting over 30,000 students from 350 universities. Among them, more than 3,600 university students have taken a study trip to the Huawei headquarters in Shenzhen.
Dhaka, Mar 20 (UNB) — The Asian Development Bank (ADB) has signed a $14.2 million loan with a local company to enhance inclusiveness in Bangladesh’s agribusiness sector.
It will support the expansion plans of Sylvan Agriculture Limited (SAL), a PRAN-RFL Group (PRAN) company, one of the largest food and agribusiness companies in the country.
“ADB’s second loan to SAL will further improve the agribusiness sector in Bangladesh through increased private sector investment,” said ADB Investment Specialist for Private Sector Operations Tushna Dora, the bank said in a statement on Tuesday.
Dora said agriculture provides nearly half of all employment in the country and supports over 70 percent of the total population. The loan will enhance the livelihoods of thousands of local farmers, with a focus on empowering women.
It will finance new processing facilities to produce potato chips, potato flakes, and pasta. Women will comprise at least half of the 450 people directly employed in the new facilities.
Gender wage gaps will be reduced, women’s facilities introduced, and greater technological assistance provided to women farmers.
Potatoes for the new processing facilities, located in Habiganj industrial park, will be sourced from around 2,000 contract farmers.
The project is ADB’s first repeat assistance to a private sector borrower in agribusiness. In 2012, ADB approved a $25.1 million loan to SAL for the construction of processing facilities.
Dhaka, Mar 17 (UNB)- The local electronics appliances manufacturer ‘Marcel’ has recently unveiled its new brand logo at the company headquarter in Chandra of Gazipur.
Marcel Directors SM Nurul Alam Rezvi, SM Shamsul Alam and SM Ashraful Alam unveiled the new brand logo before more than one thousands businessmen by cutting cake just after inaugurating a day-long ‘Marcel Distributors Conference 2019’.
The event was also attended by company’s director SM Rezaul Alam, Executive Directors Eva Rezwana, Marcel head of sales Dr Md Shakhawat Hossen, Brand Ambassador Amin Khan and other high officials of the company.
With the slogan of ‘Lets Achieve the Goal Together,’ the day-long conference was commenced on Thursday morning. More than one thousand distributors of the local company from all over the country attended the conference.
Speaking at the event, SM Ashraful Alam said, Marcel is achieving tremendous success in the local electronics market and the market share is going up very rapidly.
Marcel authorities said, Marcel registered about 40 percent growth in its business in 2018 as against of 2017.
This year they set a target of achieving 80 percent growths. They have already witnessed 20 percent growth in the first two months of the current year compared to the corresponding period of the previous year.
By upholding the present pace of business growth, Marcel would be the country’s top brand within 2021.
The company’s Executive Director Uday Hakim said that a new road map has been prepared for turning Marcel into the country’s leading electronics brand.
Thus, they are conducting their business activities with aspirations, hopes and new working plans of which unveiling new brand logo is the first one.
The participants of the conference visited the production units of different sorts of electronics, electrical, home, ICT and Industrial Solutions. They were amazed to see the production process of Marcel fridge, television, air conditioner, laptop, computer, mobile phone, elevator, compressor, washing machine, oven etc. at the gigantic manufacturing plant equipped with world’s latest technology and machineries.
Dhaka, Mar 16 (UNB) - Walton is manufacturing world-class appliances in Bangladesh and has created huge employment opportunities, said National Board of Revenue Chairman Mosharraf Hossain Bhuiyan on Saturday.
“It would be a great source of the government’s revenue,” said the chairman while expressing his reaction before the media after visiting Walton Hi-Tech Industries Limited at Chandra in Gazipur.
The NBR chief said, “I am proud of Walton. I saw much better than I heard about them. They are manufacturing raw materials and finished goods, specially the major parts of fridges and air conditioners, at their own factory.”
Mosharraf also said that Walton has become a giant industrial sector now. “They turned into the country’s leading electronics brand. Now, the time has come to lead the global electronics market. To this extent, they will get all sorts of assistance from the NBR.”
He assured that the incentives, which are given to the export-oriented readymade garments, would be provided to the local exporters of electronics appliances.
Along with the NBR chairman, his spouse Mahfuja Begum, NBR Members Md Rezaul Hasan (VAT), Md Firoz Shah Alam (Duties and ICT), Kanon Kumar Roy (Tax), Customs Commissioner of Dhaka North Zakia Sultana and Income Tax Commisser of Gazipur Md Ali Ajgar also visited the Walton factory.
They were welcomed with a bouquet by Walton Hi-Tech Industries Limited Vice-Chairman SM Shamsul Alam, Managing Director SM Ashraful Alam and Director SM Rezaul Alam.
Among others, Walton Group’s Directors SM Monjurul Alam, Tahmina Afrose Tanna and Raisa Sigma, Executive Directors Abul Bashar Howlader, SM Zahid Hasan, Col (Retd.) Sahadat Alam, Shoyeb Hossain Nobel, Uday Hakim, Golam Murshed, Deputy Executive Director Md Firoj Alam were also present.
SM Shamsul Alam said the country needs more employment and industrialisation. With the direction of the NBR chairman, we will go ahead to this extent.
The NBR chairman, along with his team, enjoyed a corporate document on Walton and then visited the product display center and the production units of refrigerators, compressors, air conditioners, LED televisions, computers, laptops, mobile phones and other home, kitchen and electrical appliances.