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Dutch Co. to invest $ 10.52 million in BEPZA’s Economic Zone
Checkpoint System Bangladesh Ltd.-Unit 2, a Netherlands-owned company, is going to establish a garments accessories manufacturing industry in BEPZA Economic Zone.
The company will invest USD $ 10.52 million to produce annually 1,319 million units of different types of hang tag, tickets, sticker, label and others. 274 Bangladeshi nationals will get employment opportunities in this factory.
An agreement to this effect was signed between Bangladesh Export Processing Zones Authority (BEPZA) and Checkpoint System Bangladesh Ltd.-Unit 2 at BEPZA Complex, Dhaka on Tuesday.
Ali Reza Mazid, Member (IP) of BEPZA and Kumudu Athuruliya, General Manager-South Asia of Checkpoint System signed the agreement on behalf of their respective organizations.
Also read: Hong Kong trade delegation visits BEPZA
BEPZA Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman witnessed the signing ceremony.
Checkpoint System Bangladesh Ltd.-Unit 2 would be the second enterprise under the same ownership in the industrial zones operated under BEPZA. Their first one, Checkpoint Systems Bangladesh Limited, has been operating since 2009 in Adamjee EPZ.
The enterprise initially started their operation in Dhaka EPZ 15 years ago.
Senior officials of BEPZA were also present in the agreement signing ceremony.
Habib becomes Barvida president, Shahidul secretary-general
Mohammad Habib Ullah Dawn has been elected president and Mohammed Shahidul Islam secretary-general of the Bangladesh Reconditioned Vehicles Importers and Dealers Association (Barvida) the for the next two years.
Md Aslam Serniabath, Reaz Rahman and Md Gias Uddin Chowdhury were elected vice-presidents.
Read BARVIDA asks for tax- free microbus imports and 45% depreciation facility
The biennial election of Barvida was held on June 18 where 25 candidates out of 62 were elected by 639 voters.
Md Selim Hossen, chairman of Barvida election board 2022-2024, announced the result.
Read BARVIDA demands car market expansion, rationalising import duty
Grameenphone customers in flood-hit Sylhet get 10-minute free talk-time
With the devastating flood in the country's northern and north-east still threatening millions of lives and livelihoods, Grameenphone customers, stuck in the affected areas of Sylhet can now avail of 10 minutes of free talk-time.
The telecom operator already disbursed 10-minute free talk-time with three days validity to all its customers in the flood-affected areas in Sylhet.
During these challenging times, the need for immediate connectivity is paramount but customers face difficulty recharging due to the flood and incessant downpour.
Read Hans Martin new Grameenphone chief corporate affairs officer
"It is our moral responsibility to assist those who are stranded and stand by the nation during these times of dire need. We understand our customers' urgent connectivity needs to reach out for any assistance. We are closely monitoring the situation on the field and will remain vigilant going forward to provide connectivity support," said Mohammad Sajjad Hasib, chief marketing officer of Grameenphone.
The flood condition has now been persisting for the past four to five days, with at least 40 lakh people stranded and stuck helpless.
Mobile network and internet connectivity services also had to be compromised in the region due to water logging and electricity failure.
Also read: Grameenphone observes Green Week 2022
However, in collaboration with the Posts and Telecommunications Division, the Bangladesh Telecommunication Regulatory Commission, Bangladesh Army and other stakeholders, Grameenphone is working continuously to overcome the crisis and restore mobile services in the flood-affected region in the earliest alongside exploring alternative feasible solutions to enable the nation to fight the calamity.
Nagad employees to donate one day's salary to relief efforts in Sylhet, Sunamganj
Mobile financial services (MFS) Nagad has announced that it will donate its employees' one day's salary to relief efforts in Sylhet and Sunamganj.
Tanvir A Mishuk, managing director of the MFS, made the announcement at the virtual event "Manush Bachle Desh Bachbe" arranged by Nagad.
Also Read: Nagad to partner LankaBangla in furthering financial inclusion
Ahmed Imtiaz Jami, president of Obhijatrik Foundation, and Mohammad Saifullah Mithu, president and co-founder of Give Bangladesh Foundation, also joined the session.
All regional employees of Nagad in Sylhet and Sunamganj, including the Nagad entrepreneurs, are helping the flood-hit people by providing rapid transactional support and other services.
Read Technical, madrasa students to get stipends through Nagad
To assist flood victims in the Sylhet, more than 50 partner donation organisations are now accepting donations through Nagad.
Pran-RFL launches food delivery service Foodano
Pran-RFL Group Sunday launched its food delivery service Foodano.
Kamruzzaman Kamal, director (marketing) at PRAN-RFL, and Choudhury Atiur Rasul, director (accounts), inaugurated the service in the capital.
Read: TEI GET to promote renewable energy in Bangladesh
"We have launched Foodano considering the demand of customers, helping them have their favourite food in the shortest possible time," Kamruzzaman said.
Nur Muhammad Rasel, head of business at Foodano, said: "We are going to start our service with food and grocery items."
Read Pran-RFL bags 5 national export trophies
"Other services will be included considering the demand of customers," he added.
Be vigilant to prevent financial crimes: BB governor
Bangladesh Bank Governor Fazle Kabir Sunday urged the officials of the Bangladesh Financial Intelligence Unit (BFIU) and banks to be vigilant to prevent financial crimes.
Financial criminals become active during crises, he added.
Read: Provide emergency banking services in flood-hit areas: BB
Fazle Kabir was addressing the BFIU seminar "20 years of anti-money laundering and anti-terrorism financing in Bangladesh" in the capital Saturday.
BFIU chief Md Masud Biswas, Sheikh Mohammad Salim Ullah, secretary at the Financial Institutions Division, and Selim RF Hossain, chairman of Association of Bankers Bangladesh, were present.
FY23 budget to elevate local elevator manufacturing: Experts
Stakeholders and experts have called the proposed budget for the fiscal year (FY) 2022-23, an industry-friendly one, which will "give the local elevator manufacturing sector a boost."
Finance Minister AHM Mustafa Kamal in the FY23 budget discouraged the import elevators, raising import duties to protect the local entrepreneurs' investment in the sector.
Mohammad Shahadat Hossain Siddiqui, professor of economics at Dhaka University, said: "Encouraging domestic industry is a prerequisite for sustaining the continuous progress of any country. The local infant industry will be at stake if it needs to compete with others from the beginning."
In Bangladesh, there is a huge demand for elevators. According to the National Board of Revenue, Bangladesh imported elevators worth Tk707 crore amid Covid in 2020, and the volume jumped to Tk885 crore in 2021.
Demand for elevators is increasing sharply across the country with the growth of the country's housing industry.
Read: Food production, price control should get prioritised in budget: Dr. Debapriya
If Bangladesh's elevator market remains import-dependent, prices will have a serious effect on people's purchasing power.
But the increase in domestic production will bring the prices down. And the repair of elevators, especially in old houses or buildings, will be easier.
Economist Dr Kazi Khaliquzzaman said: "In the proposed budget, "The import of products, which are manufactured or can be produced in the country, have been discouraged. So, local entrepreneurs and industries will benefit from it."
Grass-route level poultry farmers seeks government’s interference to stop commercial sale of ready broilers, layers by hatchery owners
Grass-route level poultry farm operators have sought the government’s interference to stop commercial sale of ready broiler and layer chicken by hatchery owners.
They said that several hundred thousand small poultry farmers who mainly operate their business at grass-route level, cannot sustain because of the commercial selling of ready broiler and layer chicken by the big poultry owners.
They also placed 8-point demands to resolve their prevailing crisis in business from a discussion meeting at the National Press Club on Sunday.
Kazi Mostafa Kamal, secretary general of the Bangladesh Grass-Route Level Poultry Farmers Unity Council, placed the demands at a discussion meeting titled: ``Miseries of Grass-Route Level Poultry Farmers and Way Out”.
The function, with the organisation’s president Mizan Bashar in the chair, was also addressed by Trustee of the Gana Sastha Kendro Dr Zafrullah Chowdhury, Bangladesh Kalayan Party Chairman Maj (Gen (retd) Muhammad Ibrahim and journalist Mostafa Kamal Majumder.
Read: Provide emergency banking services in flood-hit areas: BB
The 8-point demands of the Bangladesh Grass-Route Level Poultry Farmers Unity Council include ensuring proper monitoring of small chicks by the Department Livestock Services, billing of electricity consumption at industrial rate, fixing the price of small chicks at Tk 30-32 as per the government’s notified order of 14th March 2010.
The other demands are free-supply of medicine and vaccines to the farmers to prevent the chickens from different diseases, providing soft and collateral-free loans to small-scale poultry farmers bringing them under a cooperative, and building shops at specific places in bazaars at every upazila to facilitate selling of the products by small farmers.
Kazi Kamal alleged that the small-scale farmers at grass-route level have been experiencing an anarchy-like situation for the last 12 years as they have to buy at Tk 90-100 per small chick from a few big hatchery operators.
The hatchery operators do not abide by the government’s order to sell the chicks at Tk 30-32, he added, saying that the price hike of poultry feeds also put them into big trouble.
“As a result, many small-scale poultry farmers left the business incurring huge financial loss,” he said.
Read: Air Astra prepares for IOSA ahead of commercial launch
Kazi Kamal said the big hatcheries are doing monopoly business in selling small chicks at their arbitrary rates violating the government’s order.
Dr Zafrullah Chowdhury urged the government to protect the small-scale poultry operators for the sake of the interest of the country.
Provide emergency banking services in flood-hit areas: BB
Bangladesh Bank (BB) has instructed banks to continue services in the flood-hit areas through their sub-branches, agent bank outlets or branches nearby in the dry places.
The central bank’s Department of Off-Site Supervision on Sunday issued a notification to all scheduled banks to continue services for flood-affected clients through alternative ways.
Also read: BB starts releasing new notes on June 29
The BB notification stated that several areas including Sylhet, Sunamganj, Rangpur and Kurigram have been flooded. Many banks could not open branches due to flooding.
In such a situation, the central bank has instructed the banks to provide emergency banking services from the nearest branches unaffected by floods.
After the flood situation improves, the central bank said, banks will have to take steps to resume services to the customers from the relevant branches and sub-branches immediately.
Also read:Banks must focus on digitalization, cyber security: BB Governor
Meanwhile, heavy rains and landslides from Meghalaya in India have submerged about 90 per cent of the area in Sylhet and Sunamganj. In these two districts, there has been a catastrophic flood. Hundreds of thousands of people are being forced to leave their homes seeking shelters.
Businesses reject plan to impose 8pm closing time on shops
Businessmen on Saturday urged the government to postpone the decision of the closure of shops, shopping malls, markets, and kitchen markets after 8 pm till the Eid-ul-Adha.They came up with this call at the first meeting of the FBCCI Standing Committee on Local Garments (Avhantarin Poshak) at FBCCI.They said that Businesses were deprived of the full-scale festival centric sale due to the 2-year long Covid-19 pandemic and incurred huge losses.They said businesses had managed to remain on their feet the help of timely incentive packages, and now are working relentlessly to revive the economy.They apprehended that if the sales close after 8 pm, the process of revival will stumble.Read: FBCCI preparing a master plan to face post-LDC challenges
FBCCI senior Vice-President Mostofa Azad Chowdhury Babu in response to the demands of businessmen, called for postponing the government decision till Eid-ul-Adha.“The office goers prefer to visit malls after evening; therefore, the instruction will discourage them to shop, which would put the millions of small and medium entrepreneurs into further loss,” the FBCCI Senior Vice President said.The committee members also called for initiatives to set up a garment village for the manufacturers who produce clothing for the domestic market.They said that garment manufacturers have to procure raw materials from different places and re-package and sell them in the wholesale market which accumulates a huge cost.A dedicated garment village will ease the business process and reduce the cost and also facilitate buyers to afford clothing at a cheaper price.Read: Good governance major challenge to implement budget: FBCCI
Acquiescing with the demands of the businessmen, Vice President M A Momen assured that FBCCI will take initiatives to discuss with the concerned ministry in this regard.“Businesses will face additional challenges after LDC graduation in 2026. Hence, the local sector needs to be stronger,’ he added.While chairing the meeting, Committee chairman and president of Bangladesh Avhantarin Poshak Prostutkarak Malik Samity Md. Alauddin Manik said that they meet the huge domestic demand and thus help reduce import cost. The sector would further flourish if it gets bank loans.Director-in-Charge of the Committee Abu Motaleb complains that the tax-officials harass businessmen in the name of collecting revenue. He calls for the end of the harassment.FBCCI Director Shafiqul Islam Vorosha and Hafez Harun also spoke at the meeting.Co-Chairmen Hazi M H Mostofa, Md. Abul Khayer, Md. Sarwar Uddin Khan, Hazi Md. Tipu Sultan, Md. Kefayetullah Twinkle and Junaed Ibna Ali were also present.